Of course existing homes are up, anyone priced a new one. $200 a square foot is nothing fancy from what I hear.

Booming

The difference now in giving loans out is there is still restrictions on who can have loans. The Clinton disaster was he took away restrictions and was wide open to loan money to people that couldn't afford a pop cycle. Big difference today then when slick willie era.

And I thought our price was Good pcr!!! What a steal you got!!

put 10 in it,raised my kids in it and resold it twenty five yrs later for a little more than i had in it.

Danny and Cameron, exactly.
If it crashes like in 08 would interest rates sky rocket? I got excellent credit and am either getting 3.62 or 3.26% on this loan.

200 sq ft will get you fancy here. New homes 1500 sq ft at low 200's too bad I qualify for just under 200.

House market in Vegas has jumped to where it needs to be in some areas. I deal with a lot of real estate with my line of work. I got lucky and bought my first house in 2015. Prices had almost doubled from the tank but where still low. The neighborhood I purchased in was gated, and HOA included all front landscaping. Back yards were almost nonexistent and it had 3 community pools. Rent was higher than my mortgage. Once the economy picked up, people from out of state started looking for winter getaway property. Something low maintenance. My property value shot up more than most of the valley. I sold last summer at almost double what I paid and quickly put that equity into a new house. Big tip for newbies DON"T PLAY WITH INVESTMENT MONEY UNTIL YOU ARE RETIRED. Since my particular neighborhood went up in value more than a lot of the valley, we look for a house in an area that didn't have the same increase in prices. We were able to get a lot bigger and nicer house, with a very good sized yard for this area and not changing my monthly expenses much. The house market has leveled off since with just a slow increase like it should. Now that equity we made on the first house has rolled over into this house, and keeps on growing. A boat would have been nice, but when I retire I'll be happy I didn't use that money.

In Vegas right now, its a good time to buy long term property but a horrible time to buy short term investment property. I have one friend who said he's renting till the market collapses again because it shot up so quick, that it has to drop. Thats not going to happen for a couple reasons.

1) Banks learned a lesson in 2007-2008. They aren't throwing interest only loans. And although they have gotten a little less strict with requirements, they still aren't just handing out loans to everyone.
2) Properties prices are actually back to where they should be. On average (before the house bubble), property increases in value about 3% every year. If the bubble never happened, a 3% increase would put property at about the same price it is now. Its very deceiving since prices got so high, then got so low.

And yes, you almost pay for a house twice when you account for interest, but rent money goes to absolutely nothing from an investment stand put. You can pay $375k for a $200k home over 30 years and own something of value or pay rent for 30 years and have absolutely nothing and still have to pay rent. Owning your house is the first step in retirement. Removing a mortgage from your monthly budget frees you up a lot financially.

Booming here, building and selling

I work as the Processing Manger for a Big AMC (appraisal management company).

In regards to NY and other states; I can tell you that now is time to sell if your thinking about it. As far a buying..I'd be careful. There are many biding wars and people are paying too much. I've seen borrowers buy a house for $280k then go to refinance a year later (To remove PMI) and the value dropped to $232k. Don't over buy. FYI Lenders have also rolled back requirements for lending. Banks and Mortgage lenders are starting to lend to anybody (Sub-par consumers) again. Freddie Mac and Fannie Mae are also rolling out Evals. Their goal is to have the lenders decide to lend using either a eval or appraisal. Appraisals are more accurate and done to higher standards. They are advocating for Evals to be completed by the listing agent/ office (huge conflict of interest). This will make sure "deal" gets made! Consumers will be overpaying and won't even know it. I don't think the market will crash however, I do believe there will be a drop eventually. Many of those that bought high will be in for a rude awakening down the line.

Then other states like CA simply don't have enough homes available. Buy land they aren't making more of it!

Appears to be a sellers market in. Alaska. Not quite a get rich quick deal tho. My 335k house in 2012 might sell for 350k but it all needs to be in good shape. For sale inventories around Fairbanks are about 1.5-2 months which is lower than normal. Obviously varies per price range.
mt

Exactly what I have been hearing.

X2

That's awesome cat trapper

TT, good to know. Yup I'm not trying to over buy. i Know there's great values to be had. One house here I was really interested in, just went for over 20k of listing but the comps are still in the range. That house was insane within 12 hours of listing at least 2dz showings before I got there on Thursday. They opened bids last night.

Hopefully I can make an offer on a decent house this week. 2 offers last week feel through. 1 mentioned above and another was a foreclosure. I got the inspection report from the bank, this 15 year old house needed at least 40k of work.

Saw 2 today.
While we were house 1 the selling agent called they accepted an offer.
Saw house 2 go to submit bid gone.

Both hit the market last night

I haven't kept up with selling market much but I know new houses and buildings are being built at a fast pace.I work for Acme brick and three years ago the plant I work at was told to push the brick kiln to full rate. We have been averageing around 90 million brick a year shipped out! Trucks lined up all day and we ship by train also

Terrible where I'm at but it has always been that way. I bought this house ten years ago and recently had two realtors tell me I couldn't put it on the market and get what I paid for it. They weren't interested in listing it for ten thousand dollars less than I paid.

The sellers didn't disclose some major issues and I'm on the hook for what will probably be thirty-five thousand dollars in repairs. The home inspector didn't pick up on it due to the inspection being done in the winter and the problems weren't visible or evident until spring. My brother-in-law is a pretty decent lawyer and he tells me I have no recourse in the state of Maine as far as attacking the sellers goes. I probably could have sued the inspection company. Let the buyer beware.

Wire-cut or waterstruck?

I'm not sure what waterstruck is but if you are talking about the way the brick are cut, they are cut by wire