Housing market

QBD2

Old Mossy Horns
Well damn

Sounds crazy until you realize that’s in a 3+ million dollar neighborhood. Prolly a 5+ million dollar house after a spending a few hundred k on a reno🤷‍♂️

They had 30k inquiries because it was dirt cheap for where and what it was(y)
 
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DC-DXT

Twelve Pointer
Sounds crazy until you realize that’s in a 3+ million dollar neighborhood. Prolly a 5+ million dollar house after a spending a few hundred k on a reno🤷‍♂️

They had 30k inquiries because it was dirt cheap for where and what it was(y)
Yeah I couldn’t believe the median price for 4 bedroom homes listed in the article for the suburbs.
“The median price for four-bedroom houses in the Sydney suburb is $3.055 million, according to data from Domain.com based on sales within the past 12 months.”
 

Wildlifer

Twelve Pointer
I'm not sure "going out west" yields any better results. here is a little fixer upper I took a quick look at a few weeks ago when I took my sons fishing in Montana. This is Bozeman and .27 acres with 1100 sq ft house for $1,150,000
View attachment 69132
The major cities out west are crazy right now. I have been looking hard in colorado for over a month now and it’s just depressing. I have even looked in Cheyenne and it’s not any better
 

HotSoup

Twelve Pointer
The major cities out west are crazy right now. I have been looking hard in colorado for over a month now and it’s just depressing. I have even looked in Cheyenne and it’s not any better

Yep, SD housing market is getting cranked up as well. Houses selling very quick and pricing is climbing
 

BarSinister

Old Mossy Horns
It’s gonna hit a peak at some point, then all these little empires are gonna come tumbling down. I learned my lesson in 2008. 😢
I'm hoping that when it does, it isn't millions of people that bought when they really couldn't afford to, rather it is a slow realization "that I ain't paying that much for that!", resulting in prices coming down. Same with wood and everything else.
 

catfishrus

Twelve Pointer

15+% in 1 year is a SPOOKY # imho! I totally believe it'll happen again round these parts next year however.

I bought a rental house in 2013 for 75 grand. Zillow had it at 120 grand back then. Today zillow has it at 240 grand...that is 15+% for 8 years straight on average. I bought another in 2016 and according to zillow its up 15% per year.
 

wncdeerhunter

Old Mossy Horns
I bought a rental house in 2013 for 75 grand. Zillow had it at 120 grand back then. Today zillow has it at 240 grand...that is 15+% for 8 years straight on average. I bought another in 2016 and according to zillow its up 15% per year.
I don’t put much faith in zestimates. Not to say the increase isn’t there, but I’ve found the to be all over the board. Any online price estimator for that matter
 

Homebrewale

Old Mossy Horns
I believe it. My daughter is actively looking for a house and have put in several offers over the last few months. The last offer on a house was for $82k over list plus $100k in due diligence. She still lost out.
 

wncdeerhunter

Old Mossy Horns
I believe it. My daughter is actively looking for a house and have put in several offers over the last few months. The last offer on a house was for $82k over list plus $100k in due diligence. She still lost out.
100,000 in due diligence?! That’s risky business right there
 

NCST8GUY

Frozen H20 Guy
I was thinking the same and also thinking WHY buy now. better off renting and not getting screwed with a home not worth what was paid. but all situations are different I guess.

Rents are rising significantly as well. I'm actually curious about the legality of some of the rises I've heard of.
 

Homebrewale

Old Mossy Horns
I was thinking the same and also thinking WHY buy now. better off renting and not getting screwed with a home not worth what was paid. but all situations are different I guess.

One reason is that she will also benefit from the craziness when she sells her current home. Just in the last 6 months, what she may get on the sale of her home has probably gone up $100k. That is based on a very similar home two doors down that went under contract last week.
 

wncdeerhunter

Old Mossy Horns
It's what you need to do to be competitive. She wouldn't put that kind of money up on a house where you suspect there are major problems that would cause her to back away from the purchase.

I’ve seen all kinds of things come up on houses that no one suspected had anything wrong with them. There are many ways to be competitive - but I’d never advise anyone to risk $100k. Nor would I do it myself, but everyone’s risk tolerance is different.

Curious as to what city this is?
 

shaggy

Old Mossy Horns
I’ve seen all kinds of things come up on houses that no one suspected had anything wrong with them. There are many ways to be competitive - but I’d never advise anyone to risk $100k. Nor would I do it myself, but everyone’s risk tolerance is different.

Curious as to what city this is?

Had a creepy situation come up this week and was wondering if this the norm or if this is because of the crazy market.

When we were considering a move we had an agent come take pics and get everything setup to sale. Once we decided not to we informed him and that was that. Well my wife got an email saying he had buyers looking in our area and he had shown them the house and they would be willing to make an offer. Our house isn't on the market but he is still showing potential buyers? I was a bit confused to say the least.
 

wncdeerhunter

Old Mossy Horns
Had a creepy situation come up this week and was wondering if this the norm or if this is because of the crazy market.

When we were considering a move we had an agent come take pics and get everything setup to sale. Once we decided not to we informed him and that was that. Well my wife got an email saying he had buyers looking in our area and he had shown them the house and they would be willing to make an offer. Our house isn't on the market but he is still showing potential buyers? I was a bit confused to say the least.

Not that unusual - assuming he drove them by and didn't break in :) Lots of buyers may want to be in a specific neighborhood or want a specific house (that isn't on the market) - I've contacted owners before on behalf of my buyer clients to see if they'd consider selling. Some do, some don't.
 

beard&bow

Twelve Pointer
Contributor
Had a creepy situation come up this week and was wondering if this the norm or if this is because of the crazy market.

When we were considering a move we had an agent come take pics and get everything setup to sale. Once we decided not to we informed him and that was that. Well my wife got an email saying he had buyers looking in our area and he had shown them the house and they would be willing to make an offer. Our house isn't on the market but he is still showing potential buyers? I was a bit confused to say the least.

I got a piece of mail yesterday.

There's a guy in Raleigh that is itching to send me a $1,500 check, for a $20,000+ lot...

Lot also not listed. It's just a lot we own.
 

shaggy

Old Mossy Horns
Not that unusual - assuming he drove them by and didn't break in :) Lots of buyers may want to be in a specific neighborhood or want a specific house (that isn't on the market) - I've contacted owners before on behalf of my buyer clients to see if they'd consider selling. Some do, some don't.

We are rural area and were the only subdivision in the area until new construction started popping up but those houses,.not much bigger than mine are selling for 30-40k above houses in my neighborhood.
 

Dick

Ten Pointer
Had a creepy situation come up this week and was wondering if this the norm or if this is because of the crazy market.

When we were considering a move we had an agent come take pics and get everything setup to sale. Once we decided not to we informed him and that was that. Well my wife got an email saying he had buyers looking in our area and he had shown them the house and they would be willing to make an offer. Our house isn't on the market but he is still showing potential buyers? I was a bit confused to say the least.
just a different way to cold call. hard to pass up the money.
 

catfishrus

Twelve Pointer
I don’t put much faith in zestimates. Not to say the increase isn’t there, but I’ve found the to be all over the board. Any online price estimator for that matter

I understand. I see it with my own personal house on Zillow. House down the street from my 240 house just sold for 220 but zillow has that house at 183. I hope they missed mine just as much but I feel like they are pretty close on both of my houses based on recent sales.
 

Homebrewale

Old Mossy Horns
I’ve seen all kinds of things come up on houses that no one suspected had anything wrong with them. There are many ways to be competitive - but I’d never advise anyone to risk $100k. Nor would I do it myself, but everyone’s risk tolerance is different.

Curious as to what city this is?

New Hill
 
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