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Old 08-27-2006, 02:40 PM
 
679 posts, read 2,604,102 times
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Then I would think you would be happy to be making all of the California dollars, since it seems they are the ONLY people who are moving in and buying up all the ridiculously priced homes...that are paying your construction salary and putting food on your table.

 
Old 08-27-2006, 02:44 PM
 
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Quote:
But then again, I'm sure that was probably based entirely on fiction...as stereotypes usually are.
Uh,no dude,the people moving into houses they paid above market value for aren't fictional characters.They're here,and what they paid for the houses is a matter of public record.And all the builders throwing up houses to take advantage of this phenomenom aren't basing their investment on a fictional stereotype,but hard core data from realtors.

Last edited by lifertexan; 08-27-2006 at 02:56 PM..
 
Old 08-27-2006, 02:47 PM
 
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--------------------------------------------------------------------------------

Quote:
Then I would think you would be happy to be making all of the California dollars, since it seems they are the ONLY people who are moving in and buying up all the ridiculously priced homes...that are paying your construction salary and putting food on your table
.

I am,but most people do not make a living from this.Most people are going to be hurt by this phenom.And BTW,I didn't say that it was only CA's buying houses.I said it was the people from CA who were the main cause of the price increase.There you go again putting words in my mouth.Once again,please refrain from this inventing of things people supposedly said.
 
Old 08-27-2006, 03:00 PM
 
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Quote:
Originally Posted by lifertexan View Post
They now start at $ 160,000 , and when you ask why they will tell you it is because people from CA are coming in fast enough to buy them at that price,so why not sell them at that price?It has nothing to do with the cost of building them and everything to do with what people from out of state are willing to pay.And the realtors don't talk about people from NY or FL,all they can talk about is all the CA's moving in.

It is kind of funny that you make this comment.I was just wondering last night why we don't see many people from NY moving down here.I don't ever recall seeing a post from a NY'er ranting about being fed up with NY and moving to TX.By far most of the influx seems to be disgruntled CA's.
I didn't put words into your mouth. I read yours.
 
Old 08-27-2006, 03:06 PM
 
Location: Western Bexar County
3,823 posts, read 13,348,256 times
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Default Investors and Rental Houses

Here in San Antonio I am seeing a trend of buyers (be it local or out-of-state investors) buying multiple houses in new tracts and then turning around and placing the newly finished houses up for rent. I have seen as many as 5 on one block, all with the same rental company sign. I have a co-worker who bought a new house in New Braunfels and his Realtor told him that one guy from Utah bought 10 houses in the neighborhood. The same thing is happening with used home purchases. I don't mind a few rentals around but there are 5 on my block of 14 homes. Add the regular house sales and you have too many turnovers. Are we becoming a nation of renters?
 
Old 08-27-2006, 03:08 PM
RCL
 
123 posts, read 635,448 times
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Quote:
Originally Posted by texasdreamin View Post
You don't have to SAY it...the implication speakes for itself. AND...yes, your economy has been going fine for some time. Not only Californians move into Texas and spend their dollars...but if no one did, that fine econmy would be a little less so.

Texas is a huge state. Not everybody from California is infiltrating into Texas.

If Californians didn't come to pay those ridiculous prices...someone else would. Don't blame it on California. If none of us showed up to purchase those homes, they would still be sold. Blame it on the greedy investors , who buy up acres and acres of land and then build on them. They are going to sell those properties at that price, regardless to if we show up to buy them, or not. We come because they are available, but if we didn't, others would.
There are a lot of immigrant families pooling their resources and they are buying the homes too. The only difference between them and someone from CA is that they will put 3 families into one home, whereas the California family will put ONE family into a SINGLE FAMILY home.

Now, which is better for your neighborhood?

Do you want the cars parked in the garage? Or on the lawn?

Do you want to know your neighbors are going to be inside the house quiet at 10pm? Or do you want 6 kids playing in the driveway and/or yard and/or street at 10pm because the parents are in the house doing the love dance?

Hmmmm, well Monty, I think I'd choose door number one.

I understand what you mean about the taxes. That's something you need to take up with your local representatives, though. That is exactly the reason why Californians passed Proposition 13 in 1978, because retirees were being priced out of their homes by escalating taxes.

Instead of blaming Californians for the ills of Texas, perhaps the time would be better spent writing to your State Legislators and trying to effect a positive change.
 
Old 08-27-2006, 03:11 PM
 
679 posts, read 2,604,102 times
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I'm just guessing but I think those "flipping" shows on tv helped spur all of this. It showed how real estate can make a person a fast, big buck. You go into neighborhoods where the housing is cheaper or in need of sprucing and turn around and sell it for profit or rent it out until the equity grows and then sell it. Don't know if that is certain, but it just seems that the big boom starting when all of this flipping property stuff became hot.

Last edited by texasdreamin; 08-27-2006 at 03:30 PM..
 
Old 08-27-2006, 03:23 PM
RCL
 
123 posts, read 635,448 times
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Quote:
Originally Posted by lifertexan View Post

...I built a new home 3 years ago for $85 a sq ft.Now houses beside me are selling for $ 115 to 120 a sq ft,and this increase has nothing to do with material or labor costs...
Actually, ask any contractor and they will tell you that material costs have gone up significantly in the past three years.

Rebuilding in Iraq has created a huge demand for building materials. In 2004 alone, many products such as plywood (OSB and CDX) and steel construction products doubled in price and some are now 3-4 times what they were in 2003. In 2004 it was estimated that the average cost of a 1500 square foot new construction home went up $6,000 just due to the increased materials cost.

Additionally, building booms in other Countries in the past few years, most notably China, have also contributed to increased demand for building materials (cement, just to name one). Fewer imports = shortage.

Reconstruction from Hurricane Katrina has also been a factor within the past year.

The result, of course, is higher prices.

Other items that have also increased significantly in price over the past few years are copper (for plumbing and wiring), vinyl wall covering products, and roofing materials.

Last edited by RCL; 08-27-2006 at 03:40 PM..
 
Old 08-27-2006, 04:51 PM
 
1,883 posts, read 2,551,237 times
Reputation: 598
Quote:
I didn't put words into your mouth. I read yours.
Uh,please show me where I said that ONLY CA's were buying the houses.
 
Old 08-27-2006, 04:58 PM
 
1,883 posts, read 2,551,237 times
Reputation: 598
Quote:
Instead of blaming Californians for the ills of Texas, perhaps the time would be better spent writing to your State Legislators and trying to effect a positive change.
What ills of TX?Stay with the point.I simply pointed out a fact,that higher valuations on houses result in higher taxes.And when the problem is a market falsely inflated by out of staters willing to pay above average prices for houses and driving the value up on homes that native Texans have lived in,and been able to pay taxes on, for years,the problem doesn't lie there.It lies with the people driving up the prices.Might not be much that can be done about it,but it doesn't change my point that the influx of CA's paying too much above market for homes is causing problems for the natives.
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