Welcome to my world.
I’d wait man.
Don’t be “house poor”.
While owning real estate is a building block to financial success, overpaying def is not.
I got bit in the 2008 bust. Both places I bought in 2004/2005 were down 50% at one point. Did quite well selling them in 2019 and 2020 but still, this stuff follows a cycle usually.
This is different than the 2008 bust but I’m holding for now and sitting on cash.
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Yep, and a ton of them have bought homes in CT. I see so many NY license plates in and around Cheshire that sometimes I feel like I'm in New York.Remember reading that people from NY were buying sight unseen around the state to work from.
Remember reading that people from NY were buying sight unseen around the state to work from.
Dog Money. People are buying houses with Dog Money.I don't how people afford this shit. Especially factoring in taxes and maintenance. My wife and I both make good money and we couldn't dream of a 2nd home without over leveraging ourselves.
I got confused here, dog.I bought sight unseen in Naples but the real estate agent was a family friend. Had the property inspected and didn’t actually walk into the property until the walk through the day before closing. Would never do that again and do not recommend it. We got lucky. Not my second home either.
Sounds to me like people are trying to find hedges against inflation. Bill Gates has been buying up farmland everywhere.Just had a customer buy one sight unseen. 1.1 million in Naples. He asked he how it looked when I went in to do work before he flew down. It's getting out of hand.
After talking to realtors in our area, seems like a decent amount our cashing out 401k accounts to pay cash.
I wouldn't buy anything right now. Buy the dip...and it's coming.
Dog Money. People are buying houses with Dog Money.
California just experienced their first population decrease so those of you in AZ are probably putting up with that mass exodus and will unfortunately have a California of your own here soon.
I've given up in AZ for awhile, we've gotten out bidded on 10 or more houses and that's with us going 15k or more over asking. It's an absolute shit show in AZ and I don't want to be house poor. I hope everyone that just moved here is ready for 5 months of hell, I'm praying we have the hottest summer every recorded.
About what?I got confused here, dog.
I thought you and the wife were keeping the place in MA and the Naples place was a second home.About what?
I can help.
Naples is 3rd home.I thought you and the wife were keeping the place in MA and the Naples place was a second home.
Last year my buddy and his wife bought a big ass RV as a second home since he can work remotely.