It's a misperception that Californians are driving housing prices up (Cody: how much, houses)

[molon labe]

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[WyoMama]

Originally Posted by ElkHunter

troll patroll. Dictionary is a troll.

Glad it wasn't just MY thought....thanks

[dictionary]

What just because I post an opinion means I'm a troll? I've posted positive opinions as well about Wyoming. Again, just because someone has a negative opinion or negative observation doesn't mean they are a troll.

[StealthRabbit]

Originally Posted by ElkHunter

California may be a loose term. ... So, did the money specifically come from Cal? Probably not.

I feel escalated RE values is a 'long-term' issue with roots from at least 30 yrs ago. Much of it was fueled by RE equity fleeing CA and infecting most of western US (Eastern US has it's own micro economic issues). The previous Federal tax regs on primary residences added to this (requiring to spend "EQUAL or HIGHER" value to avoid tax hit). Too bad... states didn't 'cap' the fleeing of RE $$ by forcing capital gains to be left 'in-state' or taxed very heavily at the state level (Arnold would have lots of $$$ to play with today). But truth is... there are folks with $$$ who will pay what is required to get their desired location, now there are just MANY more of them, then just CA.

I watched CA transplants from my company come into Colorado in the 70's and then to WA in the 80's and pay 2x the true value of homes just to spend their equity. There was a whole breed of realtors who fed on this and had all kinds of schemes to shelter/spend the excess equity. I went from paying 5% of my monthly paycheck on property taxes to spending 25%, (WA taxes are based on 100% market value). Thus I often told my CA co-workers, they cost me 20%, just in increased property taxes for a place to lay my head. Ironically they also got to keep their CA wages which were 20% higher, and consequently us locals had to get our 'rating' dropped to place the under qualified CA workers at the top of the pay scale. Very interesting dynamic, but not unique to my company, because.... as local folks made $$ in RE, the feeding frenzy continued. I now pay $33 per day in property taxes, 10x what I spend on food , and have been unemployed for 3 yrs. (ouch)

I'm just needing to make 'lemonade' too, as we were forced from our farm in CO due to high taxes, and now here in WA too, and like a previous post stated... "these values do not reflect sustainable ag use".

There are other complications, such as the newer 'Clinton' signed personal residence tax bill has caused yet another 'windfall' / price escalation issue. With the tax free status of $500k gains every 2 yrs, who needs a job?? Just build and sell personal residence in a growing market... (yes, there are a few desirable places left). I have many friends who do this, and I can't blame them, but... it has rasied home prices (not necessarily the true value, just current prices)

I don't see the prices dropping very much in desirable areas. WY has double trouble, as it has a very cyclical economic / jobs model, AND has a few areas of desirable living that garner top dollar. History has shown some tough times for home values in some parts of WY. The other market pressures are that some folks can work from home via internet, so they can live in desirable locations. Next pressure is the increased commute costs are going to drive up prices in desirable locales with available medical facilities for aging population.

It is a vicious cycle which is costing us dearly in the form of higher housing costs. We (USA) are still quite low compared to many countries where multi generations MUST co-habit, just to feed the housing expense. This is yet another way that the middle class will get squeezed.

[Kristynwy]

Originally Posted by Heit

Kristy, check out this site and get your hands on the book as well.(just about any bookstore should carry it)

OwnerBuilderBook.com - Home for Owner-Builders

You can click on the forum on the site and ask very specific questions to people all over the country who have built their own home. The book is very detailed on all aspects of building and financing your own project.

Thanks a bunch Heit
I will definitely go and check out that forum and book..
This will answers a lot of questions I have of dong stuff yourself, and we wanted to do as much as we could by ourselves...

[Heit]

You are welcome. I bought the book and found it very helpful and insightful.

[Kristynwy]

Originally Posted by wyoman

Makes a lot of sense Are you working with any reality company at this time? With your rental history etc. they may be able to hook you up? Don't give up the ship!LIKE YOGI SAID IT AIN'T OVER TELL IT"S OVER-GUESS THAT MEANS NEVER? Would also say without a certified license-you and hubby could do anything -the experts will have to throw the breakers! Hang in there-something good is gonna come your way! Bless you guys!

I am not working with a realty company, however Chad Straight off of here has offered to be of assistance to us, so we are probably going to be contacting him soon after we turn in the loan papers... We want to turn them in by the end of this month...

Thanks for the encouraging words! That is what I tell my husband all the time "It Ain't Over tell it's Over"
That is what I was hoping about certification ect, is that we could hook up electrical and a few things cause my husband has wired entire houses several times... and used to work for a manufactured home co. for a very short time in Oregon doing electrical work... how he got away with it there is they have loop holes I guess being a manufactured home plant and all the employees worked under one journeyman I think..

Thanks again though

[Clay Lady]

Kristynwy, I have been speed reading so I may not fully understand your situation. I have been thinking of various ways to build since the price of homes is sooo high. One thing I thought about was having the house "roughed" in - get it constructed to a point that I felt comfortable finishing. Hanging sheet rock, laying tile, painting, etc --- think about what jobs you and your husband would be able to do on your own and only hire someone to do work that you can not do yourself or barter done. You would be amazed at the number of people that would like to barter work it they only knew what you could do in trade. If your husband can do wiring than that is most excellent. Electrical work can be dangerous if you don't know what you are doing and costly if you hire someone by the hour. I have have some fun trades. Good luck. Not only is it not over till it's OVER - like your dead, keeping a positive outlook keeps you better able to find a happy outcome. It also really saves on wrinkles!!

[WyoMama]

Living in Wyo (as is all in life) is a big trade-off. MOST lower their "stuff" quality of living but enrich their freedom although more ppl I know than not work at least a good full time job & then a 2nd job. For 18 yr I worked 2 full time jobs, one in mid-mgmt & had my own transcription biz. Was insanity but when I had time off I DID something, that's for sure!!! I only work 1 full time job now but is a definite no-frills life now, which is fine with me. my frills are just the peace & freedom I get here.

[Dangerous Dave]

I agree, Dictionary. THere are many places in California, even southern Cal and within commuting distance to LA, where housing is cheaper than Sheridan and they even have the wages to support the costs.

THere are plenty of nice places in the west to go if you're an "equity baron" from California. THink of the area around SPokane (spokane itself isn't that great, but it's half an hour from everything you could want), or SLC. Heck, there's lots of nice places in Arizona in the higher elevations that I thought were pricey until I got to Sheridan. Now they seem cheap.

I'm thinking if I had $200k and wanted to pay cash or fniance very little on a house and had options for employment almost anywhere, Sheridan wouldn't even be at the top ten of my list. Don't get me wrong. I love it here, but I did move for the job and had I been given the option of having the lakes and mtns. of Northern Idaho (spokane area) along with being able to tell my wife that she can quit her job, Sheridan loses.