Home buying thread

Lanx

Lanx

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Caligula_The_Cat said:
Anyone have a website for good comps for real estate, without the need to sign up or add a phone number/email? Zillows estimate seems very low when compared to the recently sold listings.
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you could just use the sold listings from zillow, more filters you can have sold from 2 weeks to 2 years, etc

then you limit the rooms, and click exact match

so if you search for your zip code then do sold and more filters, sold in 90days and exact match 3 bd/1.5bath and you basically have all your comps
 
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Palum

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Lanx said:
you could just use the sold listings from zillow, more filters you can have sold from 2 weeks to 2 years, etc

then you limit the rooms, and click exact match

so if you search for your zip code then do sold and more filters, sold in 90days and exact match 3 bd/1.5bath and you basically have all your comps
Click to expand...
Yea I would just find comps on Zillow and ignore estimate if there's a big perceived gap
 
Haus

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Gravel

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Lanx said:
you could just use the sold listings from zillow, more filters you can have sold from 2 weeks to 2 years, etc

then you limit the rooms, and click exact match

so if you search for your zip code then do sold and more filters, sold in 90days and exact match 3 bd/1.5bath and you basically have all your comps
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This is what I did when we sold our house. Came in almost identical to our real estate agent.

It's not a hard skill for someone with an average IQ.
 
Cad

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Gravel said:
This is what I did when we sold our house. Came in almost identical to our real estate agent.

It's not a hard skill for someone with an average IQ.
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You probably did a better job than your real estate agent.
 
Daidraco

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Blazin said:
View attachment 545130

"We're waiting for a pullback..."
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The only people I hear saying prices will return to normal are the hopeless ones that dont own a home. "Theyre gonna come back down. They have to!" ... No.. No they dont. A rental of my parents is back on the market as of Friday. They bought it in 1999, for 78,000. Zillow thinks its valued at $340k now. It will be rented for $2500. They own it free and clear and its freshly remodeled. Hopeless is the perfect word because average annual salary has actually went DOWN while real estate rockets forward.
 
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Kiroy

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Daidraco said:
The only people I hear saying prices will return to normal are the hopeless ones that dont own a home. "Theyre gonna come back down. They have to!" ... No.. No they dont. A rental of my parents is back on the market as of Friday. They bought it in 1999, for 78,000. Zillow thinks its valued at $340k now. It will be rented for $2500. They own it free and clear and its freshly remodeled. Hopeless is the perfect word because average annual salary has actually went DOWN while real estate rockets forward.
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If I had a nickel for every friend and acquaintance that told me they were waiting for the crash to buy i’d have… at least a couple bucks. I do always mention that they may want to look into historic and current supply/demand housing trends.

If anything, they should be saying ’i’m waiting for my wages to catch up to housing prices.” At least that makes sense.
 
TomServo

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Kiroy said:
If I had a nickel for every friend and acquaintance that told me they were waiting for the crash to buy i’d have… at least a couple bucks. I do always mention that they may want to look into historic and current supply/demand housing trends.

If anything, they should be saying ’i’m waiting for my wages to catch up to housing prices.” At least that makes sense.
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I said fuck it. Shopped for a good deal and rate buy down and bought last year. Had to settle for a much smaller house but I live in the state and county I want to be in and fuck worrying about the rest
 
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Jysin

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Housing is (and always has been) quite regional. FL / TX have some distressed areas with 30%+ price cuts already and inventories hitting much higher than pre-covid levels. Some of the NE, however, is still low inventory and short listing periods. I can see if we hit recession / layoffs in the next 6-12mo, those FL / TX areas will have deeper cuts.

Anecdotally, the area I have been looking in FL has over 35% of the listings with price cuts. Some in my budget that I have been tracking cut by 15%+ and still considered stale listings with 90+ days on market.
 
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Blazin

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More reality versus perception. Home owners are sitting on a mountain of untapped equity.
 
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Kiroy

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Blazin said:
View attachment 545134

More reality versus perception. Home owners are sitting on a mountain of untapped equity.
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This is why we ended up paying all cash for our new place when we moved. Realized if we downsized we had enough equity in our ranch to get a nice place on less property and pay the whole thing off. Something we’ve wanted to do for years. It’s a really good feeling knowing i’m just living in 650k cash bomb.
 
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Blazin

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Whats funny about that chart is it doesn't show the 40% bar of Homeowners who have less than a 50% LTV and the other massive group that has no mortgage at all.
 
Blazin

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Kiroy said:
This is why we ended up paying all cash for our new place when we moved. Realized if we downsized we had enough equity in our ranch to get a nice place on less property and pay the whole thing off. Something we’ve wanted to do for years. It’s a really good feeling knowing i’m just living in 650k cash bomb.
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Yeah no debt here either, spent just over a mill building homestead in 2021. I don't really care what its worth, my only issue is if I'm ever leaving. If this is it for me then I don't mind just dumping funds into it to make it what I want over time but if I'm going to start over one more time then I don't want to go too heavy into it. Really want to build another bank barn if I stay here.

I do feel for younger people, it is true that getting into home ownership is becoming more difficult and is likely to continue to become so. For some reason people think that is a recipe for declining prices as opposed to the exact opposite. The govt is waking up to the problem and they are just as likely than not to make things worse rather than help with whatever convoluted intervention they cook up.
 
Daidraco

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Just a random thought - but have you guys ever thought about being on the look out for disaster areas that get massive attention.. in terms of buying real estate? For example, remember East Palestine in Ohio? Remember people were desperately trying to get away from there? Now it looks like home values are back in roughly the same neighborhood they were in before hand according to the time line.

But a hard no on things like Flint, Michigan, for example.
 
Palum

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Daidraco said:
Just a random thought - but have you guys ever thought about being on the look out for disaster areas that get massive attention.. in terms of buying real estate? For example, remember East Palestine in Ohio? Remember people were desperately trying to get away from there? Now it looks like home values are back in roughly the same neighborhood they were in before hand according to the time line.

But a hard no on things like Flint, Michigan, for example.
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uhhh idk bro there's a difference between storm knocked stuff over but its a nice area and permanent chemical death zone *shrug*
 
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Daidraco

Daidraco

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Palum said:
uhhh idk bro there's a difference between storm knocked stuff over but its a nice area and permanent chemical death zone *shrug*
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Just because you or I wouldnt live there, doesnt mean that there isnt some gullible fucking retard that thinks the railroad "sufficiently cleaned it up." There are ways to make money more safely, of course, but not as many for what little investment it would be.
 
Gravel

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Jysin said:
Housing is (and always has been) quite regional. FL / TX have some distressed areas with 30%+ price cuts already and inventories hitting much higher than pre-covid levels. Some of the NE, however, is still low inventory and short listing periods. I can see if we hit recession / layoffs in the next 6-12mo, those FL / TX areas will have deeper cuts.

Anecdotally, the area I have been looking in FL has over 35% of the listings with price cuts. Some in my budget that I have been tracking cut by 15%+ and still considered stale listings with 90+ days on market.
Click to expand...
Huh, went to check Zillow and sure enough almost everything here has either had a price cut, or been sitting on the market for well over a month. Only ones that aren't are, oddly, the new homes in our neighborhood that aren't finished yet that all have price increases.

That said, everything is still priced significantly higher than what we bought at 3 years ago. Interest rates are a real bitch.

And that's really what people should be timing the housing market with, is interest rate cuts. Although, I also doubt prices fall much with that, but your payments certainly might?
 
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