Post by charlielove on Jul 16, 2013 11:59:57 GMT -5
According to Zillow (I know, maybe not the most reliable source), our house went up 7k in the past 30 days.
When I go back to work FT we are considering building a home in the country, so it would be awesome if our house would actually go up to (maybe above?) what we paid for it, so we could at least think about selling at some point.
OMG, yes. We have a rental house that we tried to sell for a year and dropped the price a ton and everything. It never sold so we are renting it out. Well, the same exact house in the neighborhood just sold for more than we paid for it in less than 5 days.
I haven't looked at the data, but we've been keeping an eye on the market for the past year. It does seem that houses are coming on for higher than they were a few months ago, and they're going faster. I'm glad we bought when we did.
I think so too. I also noticed that the inventory is so low that even if the price starts low or on target there are bidding wars and people pay more than the homes are worth.
We plan to sell in about 5 yrs so we can move closer to the city and I can make it to after school activities. I hope we can make $ but still find something affordable. Probably too much to ask for.
Austin has been a *hot* market this year, with homes all over the place going into bidding wars. Crazy! If we do move it won't be for 5-10 years though so it won't do anything but make our property taxes go up next year.
The Boston Globe just ran a story about how we are the 5th most competitive market in the country right now.
We live in a 2 family house and our downstairs neighbors just sold for over $100K more than they bought it for 3 years ago. In 3 days. They never even put up a sign. People are going crazy and doing all cash, waving inspections, houses are going for 100s of thousands above asking... We REALLY want to sell in this market, but no way am I buying, lol.
I am so sad about this. We didn't buy when we moved down here because of the market crash. And now, by the time we are settled in a new town (hopefully, please God, next year) we aren't going to be able to get a deal. AND we have thrown away money at rent for YEARS.
I am happy that people are going to be able to get out of their homes though.
I haven't looked but it is doubtful. We never got hit when the housing market went south. Meaning we bought the house in 2006, got it re-fi'd in 2010, the appraisal was $10K more and we didn't do any major repairs, just painted the walls.
Zillow can be way off. It said our house in 2007 was $60K more...no it wasn't.
Yes. A few pre-built houses just sold in our neighborhood for significantly more than we paid for new and bigger. We got in just in the knick of time with home prices and interest rates. Although, my IL's are looking to move and say there is hardly anything on the market here.
Post by dixeedeluxe on Jul 16, 2013 12:26:48 GMT -5
Not in my neighborhood! But the fact that we sold at all is really telling of the market!
Our realtor is telling us that well-priced homes are selling for way more than list. He's had clients who bid on houses that sold for upwards of $100K more than asking.
C25K...it works Seaside 5K...........40:45(2012) Turkey Trot..........41:30(2012)/37:08(2013)/37:40(2014) St Pat's 5K..........39:27(2013)/38:48(2014)/35:12(2015) Belair Town Run......38:09(2013)/36:27(2014) Back To Football 5K..37:36(2013)/43:44(2015) Balt Run Fest 5K.....34:59(2013)/41:50(2014)/35:54(2015)
Post by thedahliharpa on Jul 16, 2013 12:33:05 GMT -5
Yes, we are watching things closely. Prices are getting to the point where we might be able to break even soon. We've been underwater for a long time so this is promising. However anything we would want to buy is also going up so it is a catch 22.
They are here, a lot. Demand is higher than supply for more moderate sized homes, they started going up in like February and now interest rates are going up too.
C25K...it works Seaside 5K...........40:45(2012) Turkey Trot..........41:30(2012)/37:08(2013)/37:40(2014) St Pat's 5K..........39:27(2013)/38:48(2014)/35:12(2015) Belair Town Run......38:09(2013)/36:27(2014) Back To Football 5K..37:36(2013)/43:44(2015) Balt Run Fest 5K.....34:59(2013)/41:50(2014)/35:54(2015)
Post by sunshineluv on Jul 16, 2013 12:55:16 GMT -5
I don't think the market is too crazy here.
For the people who haven't bought yet, don't be so hard on yourselves. With all the money you put into a house, upgrades and just fixing stuff, plus how much you pay in interest each month, it isn't like homeownership is always a good investment.
I think we would have been better off renting. I hope when we sell in a few years we get some money, but it won't cover all we have put into the house.
Yes, we are currently house hunting and it has been discouraging. Houses are getting multiple offers for more than asking price in just a day or 2 on the market. There are bidding wars on any decent house in our price range.
For the people who haven't bought yet, don't be so hard on yourselves. With all the money you put into a house, upgrades and just fixing stuff, plus how much you pay in interest each month, it isn't like homeownership is always a good investment.
I think we would have been better off renting. I hope when we sell in a few years we get some money, but it won't cover all we have put into the house.
There was a study done that said renters are generally more happy than homeowners! I think they talked about it on the Today show. We are more happy now, as homeowners, but once things start needing work I can see being less enjoyable!
For the people who haven't bought yet, don't be so hard on yourselves. With all the money you put into a house, upgrades and just fixing stuff, plus how much you pay in interest each month, it isn't like homeownership is always a good investment.
I think we would have been better off renting. I hope when we sell in a few years we get some money, but it won't cover all we have put into the house.
There was a study done that said renters are generally more happy than homeowners! I think they talked about it on the Today show. We are more happy now, as homeowners, but once things start needing work I can see being less enjoyable!
We had our fence blow over and need replaced ($3K), our roof need replacing($2K), and our air conditioning need a pricey repair ($1K) all within 3 months of having Anna last year (which was $3K unto itself). Talk about a bank account shock! Usually all that stuff doesn't go out all at once, we just really got unlucky.
There was a study done that said renters are generally more happy than homeowners! I think they talked about it on the Today show. We are more happy now, as homeowners, but once things start needing work I can see being less enjoyable!
We had our fence blow over and need replaced ($3K), our roof need replacing($2K), and our air conditioning need a pricey repair ($1K) all within 3 months of having Anna last year (which was $3K unto itself). Talk about a bank account shock! Usually all that stuff doesn't go out all at once, we just really got unlucky.
Zillow isn't a good market indicator for my immediate area. Some of the sales nearby have been shorts or foreclosures or non-updated properties . They have our home valued at 100k below what we paid and theres just no way. I did overhear a real estate agent in an argument at the grocery the other day telling a client " No, prices are not getting lower.. Inventory is low and value is going up. You need to buy now." Made me breathe a sigh of relief as we thought we purchased at the bottom of the market.
I am so sad about this. We didn't buy when we moved down here because of the market crash. And now, by the time we are settled in a new town (hopefully, please God, next year) we aren't going to be able to get a deal. AND we have thrown away money at rent for YEARS.
I am happy that people are going to be able to get out of their homes though.
I have always been a renter until now. This is the first home I have owned. I never felt like I was throwing away money on rent, even when we were looking to buy. I still don't know if my home is a smart "investment" or if I'd be better off just paying rent and not having to worry about repairs.
Don't get me wrong, most often I am glad we rent. But houses are so cheap here that we could be paying hundreds less a month for more space if we had bought 5 years ago.
Yep. There's next to zero inventory... our friends just bought a house and they had at that point made 5-6 offers, and had been in bidding wars non-stop. They were always outbid by cash investors and had been so frustrated until they found their place. They think the only reason they got this one was a shady deal between their agent and another one (I think they are paranoid but who knows...) It really feels like another bubble...