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Old 05-15-2018, 08:07 AM
 
4,543 posts, read 11,551,865 times
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Quote:
Originally Posted by LifeIsGood01 View Post
Rents go up and don't come down.
Same with house prices.
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Old 05-15-2018, 08:09 AM
 
4,543 posts, read 11,551,865 times
Reputation: 3063
Quote:
Originally Posted by headingtodenver View Post
exactly. Why haven't home prices come back down to 1950's prices?
+1
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Old 05-16-2018, 03:18 PM
Status: "In an Involuntary Time Warp" (set 26 days ago)
 
7,856 posts, read 10,158,141 times
Reputation: 11424
Quote:
Originally Posted by Tex Luthor View Post
I sure hope so. Housing prices, sellers, and realtors all over have gotten RIDICULOUS to the point where people are over bidding and paying double and triple what houses are really worth, and even buying them online without even seeing them in person just to beat other buyers. And this is not just happening in "hot" markets. It's gotten this bad in places that aren't even seeing huge increases in residents moving to the area, just people moving around in the same market. It HAS to crash at some point.

It's getting to the point where the average middle class person in America won't even be able to own a home anymore, unless they just say, "Screw it!" and just buy a dirt cheap house in one of the worst, most dangerous, most amenity lacking parts of town, just to say they are homeowners.

It's crazy. I heard this today, as a matter of fact, from someone on a different board that lives in Dallas about how bad it is there. All over, I've heard of people buying houses sight unseen. That's the definition of insanity folks. I'm sorry, but that's nuts. Waiving inspections, too, I've heard. Why not just wear a sign "I'm a stupid buyer."

Last edited by Nanny Goat; 05-16-2018 at 03:28 PM..
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Old 05-17-2018, 05:39 AM
 
126 posts, read 41,386 times
Reputation: 302
Quote:
Originally Posted by Nanny Goat View Post
It's crazy. I heard this today, as a matter of fact, from someone on a different board that lives in Dallas about how bad it is there. All over, I've heard of people buying houses sight unseen. That's the definition of insanity folks. I'm sorry, but that's nuts. Waiving inspections, too, I've heard. Why not just wear a sign "I'm a stupid buyer."
You need your brain examined to buy sight-unseen, waive inspections, or pay over asking price. Insanity.
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Old 05-17-2018, 06:03 AM
 
Location: Norfolk
1,574 posts, read 1,980,088 times
Reputation: 5073
Quote:
Originally Posted by Greeniejeans View Post
You need your brain examined to buy sight-unseen, waive inspections, or pay over asking price. Insanity.

I agree about the "sight unseen" part, but not the other part.

I waived the inspection on the house I'm currently living in, but I also did my own inspection and I'm very thorough.

I paid a smidge more than asking price (to beat out other buyers), but now a few months later, my home's value has already increased significantly.

Last edited by RosemaryT; 05-17-2018 at 06:17 AM..
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Old 05-17-2018, 06:18 AM
 
Location: Cary, NC
31,621 posts, read 55,349,802 times
Reputation: 30183
Quote:
Originally Posted by Greeniejeans View Post
You need your brain examined to buy sight-unseen, waive inspections, or pay over asking price. Insanity.
To close? Maybe.

To go to contract? Why not?
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Old 05-17-2018, 06:28 AM
 
247 posts, read 151,053 times
Reputation: 648
Our home value is finally jumping up from the original price, 10 years later.

Rents, on the other hand, have gone nuts. A 3BD/1BA townhouse worth $130K will command a rental price of $1800-$2300/mo.. It's tempting to rent our house out for $2500/month... but we'd have to take on a new mortgage or finance our current home to stay in this district and I'm not comfortable with that leveraging one home for another. Stability is worth more, for me. I'd much rather wait another 6 years, until the last child graduates, and basically cash out then.
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Old 05-17-2018, 06:35 AM
 
4,220 posts, read 4,440,449 times
Reputation: 9303
Quote:
Originally Posted by LieslMet View Post
Our home value is finally jumping up from the original price, 10 years later.

Rents, on the other hand, have gone nuts. A 3BD/1BA townhouse worth $130K will command a rental price of $1800-$2300/mo.. It's tempting to rent our house out for $2500/month... but we'd have to take on a new mortgage or finance our current home to stay in this district and I'm not comfortable with that leveraging one home for another. Stability is worth more, for me. I'd much rather wait another 6 years, until the last child graduates, and basically cash out then.


Charming... nothing like gouging people.
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Old 05-17-2018, 06:52 AM
 
247 posts, read 151,053 times
Reputation: 648
Quote:
Originally Posted by brava4 View Post
Charming... nothing like gouging people.
LOL - or, yanno... the market rate, if that. We have a 5BD/3BA house on half an acre, not a 3BD/1BA townhouse. We could get $2500/mo. for it within a few days of listing, if even that long. I could try for $3200 and if the market bears it, that's the price.
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Old 05-17-2018, 07:50 AM
 
10,274 posts, read 6,510,807 times
Reputation: 10855
I think prices are cooling off in my area . Realtor.com has the home values in this area falling a bit this past month. I think inventory is very low so the ones that are for sale are asking too much for too little.
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