The housing market

DHG1078 · May 21, 2018

Market out here is nuts. We have a pretty stable local economy. Lots of large employers who pay big wages. Periodically they might have a lay off here and there but not much.

2 local design/manufacturing companies have gotten huge contracts. One is planning to double the plant size and work force in the next 2 years. Both are expanding wildly.

I bout my house 20 minutes out of town a year ago. It's already appreciated at least 30k. Can't wait to see what happens the next 2 years so I can sell for a large profit and use that to move out of state.

Never_Enough · May 22, 2018

tones_RS3 said:
True story bro!
Houses are selling like hotcakes out here and they sell fast too! And like you said, they do sometimes sell for more than asking. The house 2 doors down sold for over asking price. Asking price was 529K on that one. 2 years ago, the house next door for me sold in one weekend and got asking price, 420K.

I've been paying attention to the houses I save on realtor.com & most of them are selling for over asking. The one from Friday went for $6k over asking. I found another I'd like to go see. I bet you it's already under contract.

DriftwoodSVT · May 22, 2018

Wife and I discussed this last night. We could make probably $300k on our house if we sold it now based on nearby comps, compared to how much we spent building it 2 years ago. Might finally be time to exit Texas and its god awful property taxes.

VegasMichael · May 22, 2018

Never_Enough said:
I've been paying attention to the houses I save on realtor.com & most of them are selling for over asking. The one from Friday went for $6k over asking. I found another I'd like to go see. I bet you it's already under contract.

Are you still looking in PA or elsewhere as well?

FWIW: The Vegas market is difficult. Multiple offers on places, prices out of reach for lower and many middle class earners. Rents are escalating as well to cash in on those aforementioned earners who can't afford to buy. I have 3 years left here so will likely put my place up for sale in 2 and a half years. Guy across the street offered to buy it now from me and keep me as a renter but he wanted to pay cash. Literally all cash in a bag. I passed.

Never_Enough · May 22, 2018

VegasMichael said:
Are you still looking in PA or elsewhere as well?

FWIW: The Vegas market is difficult. Multiple offers on places, prices out of reach for lower and many middle class earners. Rents are escalating as well to cash in on those aforementioned earners who can't afford to buy. I have 3 years left here so will likely put my place up for sale in 2 and a half years. Guy across the street offered to buy it now from me and keep me as a renter but he wanted to pay cash. Literally all cash in a bag. I passed.

I'm just looking in PA.

OETKB · May 22, 2018

Our housing market around the RTP region in NC is pretty crazy right now. Lots and lots of cheap looking, but expensive, new construction. Everywhere.

If Apple, Amazon or any others being courted by the region announce they are coming here, it will just become completely unhinged.

BrunotheBoxer · May 22, 2018

OETKB said:
Our housing market around the RTP region in NC is pretty crazy right now. Lots and lots of cheap looking, but expensive, new construction. Everywhere.

If Apple, Amazon or any others being courted by the region announce they are coming here, it will just become completely unhinged.

Before the dishwasher took her new job last week and gave her two weeks she was being courted by a company in Charlotte. We came oh so close to getting out of here but now with this new job it looks like we are here for the long haul.

IronSnake · May 22, 2018

BrunotheBoxer said:
Before the dishwasher took her new job last week and gave her two weeks she was being courted by a company in Charlotte. We came oh so close to getting out of here but now with this new job it looks like we are here for the long haul.

Congrats on the dough, but no congrats on the no go.

BrunotheBoxer · May 22, 2018

IronSnake said:
Congrats on the dough, but no congrats on the no go.

I was ready for a change and supported her 100% but her grail job came to her and she got it. She’s the happiest dishwasher I know.

tones_RS3 · May 22, 2018

Never_Enough said:
I've been paying attention to the houses I save on realtor.com & most of them are selling for over asking. The one from Friday went for $6k over asking. I found another I'd like to go see. I bet you it's already under contract.

Yup. It's probably more than likely already under agreement.

Sinister04L · May 22, 2018

DriftwoodSVT said:
Wife and I discussed this last night. We could make probably $300k on our house if we sold it now based on nearby comps, compared to how much we spent building it 2 years ago. Might finally be time to exit Texas and its god awful property taxes.

High property tax (although mine won't be too bad) but no income tax, low gas prices, and don't have to pay $1000+/yr to register cars, etc.

OETKB · May 22, 2018

Sinister04L said:
High property tax (although mine won't be too bad) but no income tax, low gas prices, and don't have to pay $1000+/yr to register cars, etc.

Where do you pay $1000 a year to register cars?? Egad.

Dusten · May 22, 2018

OETKB said:
Where do you pay $1000 a year to register cars?? Egad.

Cali is 1.25% the cars value. Expensive enough car would do it.

Hell my super duty would be 900 a year

DriftwoodSVT · May 23, 2018

Sinister04L said:
High property tax (although mine won't be too bad) but no income tax, low gas prices, and don't have to pay $1000+/yr to register cars, etc.

Gas prices and registration don't vary enough to put a dent in my property tax. Income tax, maybe. My property taxes were $13,200 this year and will keep shooting up with the massive school bonds they keep passing.

The only thing that will stop property tax creep here is the Legislature actually fully funds public schools instead of under funding them. The state pays only 40% (down from 60% years ago) of the funding for public schools. The rest is made up by school tax in your ISD and your country appraiser.

My county just passed a $132 million dollar school bond, and has a $220 million one planned for 2020. Can't imagine how they can pay for it, outside of taxes.

We are taking a trip in July to go start looking for land outside of Texas.

ZEN357 · May 23, 2018

The housing market in Wheeling, WV sucks!!! It used to be you could buy a nice house here for under $100,000 but now that all the Well Diggers have migrated here everyone wants a premium for their house. No a house that would have cost $100,000 is now $230,000 or more. A piece of crap one bedroom apartment will run you anywhere form $800 to $1500 per month. I can't wait until the gas boom is over with and these Well Diggers get the heck out of my town!!!!!

Sinister04L · May 23, 2018

DriftwoodSVT said:
Gas prices and registration don't vary enough to put a dent in my property tax. Income tax, maybe. My property taxes were $13,200 this year and will keep shooting up with the massive school bonds they keep passing.

The only thing that will stop property tax creep here is the Legislature actually fully funds public schools instead of under funding them. The state pays only 40% (down from 60% years ago) of the funding for public schools. The rest is made up by school tax in your ISD and your country appraiser.

My county just passed a $132 million dollar school bond, and has a $220 million one planned for 2020. Can't imagine how they can pay for it, outside of taxes.

We are taking a trip in July to go start looking for land outside of Texas.

My ISD tax accounts for 60% of my overall tax rate. What really sucks is I don't have any kids I'm sending to school lol. You still get more for your money here than in most places all things considered though.

Blown 89 · May 23, 2018

OETKB said:
Where do you pay $1000 a year to register cars?? Egad.

Arizona. The V was $1,600. It's absurd.

Blown 89 · May 23, 2018

FYI, the house just voted to deregulate the banking industry. Those regulations were put in place after the 2008 crash. If you don't think another housing crash is coming you have your head in the sand.

DriftwoodSVT · May 23, 2018

Blown 89 said:
FYI, the house just voted to deregulate the banking industry. Those regulations were put in place after the 2008 crash. If you don't think another housing crash is coming you have your head in the sand.

Link?

Gravik · May 23, 2018

DriftwoodSVT said:
Link?

Congress quietly passed the largest rollback of Wall Street regulations since the financial crisis

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