Home buying thread

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Fucker

Fucker

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Blazin said:
Got our final approval this evening, went smoothly. Just need that NPDES permit and we can start work, maybe even as soon as the end of this week. Weather has stayed moderate for December so far I hope it keeps up.

Finally to the point I can start tossing purchase orders out there. Scary looking at how much money about to spend just need to get it over with. Every dang item seems to have increased significantly due this transitory! (lol) inflation. I had to double take on a garage doors quote this week It really does feel like the window is closing on this sort of thing even being possible for most people. Dream of building a home is going to be exclusively the very wealthy or as part of some cookie cutter smashed together development.
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Prices are nuts. I was going to build in the spring, but it is $100k over last estimate. I might sit on the idea for a while. Damn near half a million for not a large house.

You aren't wrong about building homes soon to be only for the very wealthy.

Used home prices are moving up briskly here. I knew they would, but it is going to be nuts come buying season. More than I thought for sure. Hell, at this rate, simply owning any type of home will be a pipe dream for many.
 
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Sludig

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Fucker said:
Prices are nuts. I was going to build in the spring, but it is $100k over last estimate. I might sit on the idea for a while. Damn near half a million for not a large house.

You aren't wrong about building homes soon to be only for the very wealthy.

Used home prices are moving up briskly here. I knew they would, but it is going to be nuts come buying season. More than I thought for sure. Hell, at this rate, simply owning any type of home will be a pipe dream for many.
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Even before this economy, a lot of this was being talked about when a few articles covered what black stone, Chinese investors, etc have been doing buying up everything.
 
Fucker

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Sludig said:
Even before this economy, a lot of this was being talked about when a few articles covered what black stone, Chinese investors, etc have been doing buying up everything.
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Heart of the problem is the massive numbers of people fleeing the west coast. They are bringing with them cash and driving home prices through the roof in most livable places. This is showing no signs of slowing down. Hell, Cali is doubling down on their usual stupidity.

And then on the east coast, you have people fleeing NY/NYC in massive numbers which is making home prices soar in surrounding states.

My RE agent here in middle america says lots of people been buying here, cash, sight unseen. Dead of winter, and decent houses are gone within the hour.
 
TJT

TJT

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My current house in Austin is 2.5x the price I bought it for in 2016 now. This is also going to increase significantly more as there is a massive shopping thing being built across the street from the neighborhood. Not sure hot to describe it but in Austin we have this place called the Domain thats like residences, upscale shops, dining, bars and clubs. It even has a bar street like downtown but is conveniently North so most people living North of downtown just hangout there.

Due to Austin's legendary shitty traffic more Domain type spots are being built around the metro area. Holding onto this property is going to be a big boon for me in another 5 years.

That being said the framing went up on my house now. One step closer to our move in April 2022.
 
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Gravel

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Fucker said:
Heart of the problem is the massive numbers of people fleeing the west coast. They are bringing with them cash and driving home prices through the roof in most livable places. This is showing no signs of slowing down. Hell, Cali is doubling down on their usual stupidity.

And then on the east coast, you have people fleeing NY/NYC in massive numbers which is making home prices soar in surrounding states.

My RE agent here in middle america says lots of people been buying here, cash, sight unseen. Dead of winter, and decent houses are gone within the hour.
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Prices here in Florida haven't slowed down. We kind of regretted our timing as we sold in California in April, and then bought here in October. But it's looking like it really probably didn't matter.

I'm definitely interested in seeing what happens this spring. If people see the inflation and think that it's their last opportunity to buy, ever, it could make 2021's real estate run look tame.
 
Fucker

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Gravel said:
Prices here in Florida haven't slowed down. We kind of regretted our timing as we sold in California in April, and then bought here in October. But it's looking like it really probably didn't matter.

I'm definitely interested in seeing what happens this spring. If people see the inflation and think that it's their last opportunity to buy, ever, it could make 2021's real estate run look tame.
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I was eager to bail quickly and get relocated because I wasn't sure what the fuck Biden would do. Seems like a good decision on my part and good timing. California is doubling down on stupid, so I'd say ace move on GTFO out of that mess and into a rational area. Prices on homes in decent places will increase and stay increasing as long as there is a massive exodus of people leaving the west coast.
 
Lanx

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Gravel said:
Prices here in Florida haven't slowed down. We kind of regretted our timing as we sold in California in April, and then bought here in October. But it's looking like it really probably didn't matter.

I'm definitely interested in seeing what happens this spring. If people see the inflation and think that it's their last opportunity to buy, ever, it could make 2021's real estate run look tame.
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my area is crazy now, when i wanted a house 500k houses (3bd, 2200sq/ft, 2 garage) were bought up in less than a 2 days, sometimes just on the spot, my house started at 450 and bid up to bit over 500k (i forgot that incremental bid term)

now, all the inventory is gone and it starts at 750k for the same sized house and 4bdrooms start at 1m, in less than half a year this is crazy.

a lot of houses look like this
0697632713103f9c917ed8f384e9e9ae.png


they're being flipped fast, hell this house isn't even on the "good" side and it's going for that much
 
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Sanrith Descartes

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If the Dems pass BBB with the Salt cap removed, houses here in NY will explode in value. I figure its worth a good 10-20% boost.
 
Tmac

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Closing on the 800 acres next to my parents on Friday :)

Took 5 contracts extensions to get it done.
 
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Fucker

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The search begins again!

GF is FAR more amenable to alternative ideas after having dealt with her first day of tornado sirens. She has also quite warmed up to the idea of living out in the sticks. More house - more land - fewer humans = GOOD. No tornados = MUCH BETTER.

Found a lakefront house that needs finish work. The owners did a full refurb but ran out of cash or desire or both. Just needs exterior paint and redo of some $$$$$ cosmetics. If it is still on the market in 2 weeks, I'll buzz up there and take a look. Probably needs $50k in rework and finish, but that is easy stuff if its bones are good. Lots of space AND it has an additional detached garage.

Also, the house is startlingly large but nicely laid out and cozy looking.

Scanning the pics of the area and I kind of know why it hasn't sold yet

 
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TJT

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I got a call today from some group wanting to buy my current house here in Austin cash on the nail. Paid up front when the bank is open before any paperwork is even submitted.

If that isn't a god given sign to hold onto it IDK what is.

That being said I know now where I want my next property to be.
 
TomServo

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TJT said:
I got a call today from some group wanting to buy my current house here in Austin cash on the nail. Paid up front when the bank is open before any paperwork is even submitted.

If that isn't a god given sign to hold onto it IDK what is.

That being said I know now where I want my next property to be.
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is this your cost or the new estimated cost of surrounding properties? AKA they will pay you the appreciation?
 
TJT

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grumblethorn said:
is this your cost or the new estimated cost of surrounding properties? AKA they will pay you the appreciation?
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They didn't give me a number yet but I am going to assume it'll be around the generally available estimate. They're banking on the long term (1 year +) profitability.

I said just give me the price you're willing to pay and they said they'll get back to me. Most likely to rope me in with their best salesman type guy.
 
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fris

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i'm in round rock and get those calls almost weekly. i'm sure they're looking to find someone not really thinking about selling and thus getting a good deal. i'd love to sell my home and buy something similar at a similar price further towards leander (family and kids school that direction), maybe increase my square footage since i'll probably never go into an office again.

let me know if you get a decent offer or just low-ball stuff
 
TJT

TJT

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fris said:
i'm in round rock and get those calls almost weekly. i'm sure they're looking to find someone not really thinking about selling and thus getting a good deal. i'd love to sell my home and buy something similar at a similar price further towards leander (family and kids school that direction), maybe increase my square footage since i'll probably never go into an office again.

let me know if you get a decent offer or just low-ball stuff
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My house is right off of parmer lane. Bought in 2015.
 
Gravel

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TJT said:
I got a call today from some group wanting to buy my current house here in Austin cash on the nail. Paid up front when the bank is open before any paperwork is even submitted.

If that isn't a god given sign to hold onto it IDK what is.

That being said I know now where I want my next property to be.
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Chinese group? That's something Zeihan mentioned a long time ago, about Chinese getting money out of their country and buying US property with cash.
 
Blazin

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Work starting on house, construction drive was put in this week. 600' drive

IMG-5467.jpg


IMG-5472.jpg

IMG-5474.jpg
 
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TJT

TJT

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Gravel said:
Chinese group? That's something Zeihan mentioned a long time ago, about Chinese getting money out of their country and buying US property with cash.
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This is happening all the time and it just gets worse. Places like San Francisco, Vancouver, LA are full of this. IDK who this group contacting me is but there would probably be some shell game shit going on anyway.

Why we let foreign interests buy property in the USA no questions asked I will never know. No other Western nation or even third world nations allow foreigners to buy property at will. Even Mexico, if you are not a citizen you are strictly prohibited from buying any property within X distance of the beaches lol. In Southeast Asia they only do 100 year leases to foreigners for anything.
 
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BoozeCube

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TJT said:
This is happening all the time and it just gets worse. Places like San Francisco, Vancouver, LA are full of this. IDK who this group contacting me is but there would probably be some shell game shit going on anyway.

Why we let foreign interests buy property in the USA no questions asked I will never know. No other Western nation or even third world nations allow foreigners to buy property at will. Even Mexico, if you are not a citizen you are strictly prohibited from buying any property within X distance of the beaches lol. In Southeast Asia they only do 100 year leases to foreigners for anything.
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Exactly letting any noncitizen buy properties in your country is setting up for a terrible future.
 
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