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Crazy real estate prices #7013647
10/10/20 11:15 AM
10/10/20 11:15 AM
Joined: Jan 2008
Posts: 5,246
Alaska and Washington State
W
waggler Offline OP
trapper
waggler  Offline OP
trapper
W

Joined: Jan 2008
Posts: 5,246
Alaska and Washington State
This "shy half acre" lot just came up for sale about 300 feet down the street from my house, which is about 30 miles south of Seattle. I thought maybe I would buy it and build a spec house on it. I called and checked on the price, I thought I was hearing things; $265,000.

I checked on comps in the area, $220,000 seems to be the going rate for 1/3 acre lots with approved septic designs. It's going to cost another $25,000 for septic install, school impact fees, water and electricity hookups.

It makes me wonder what I could get for my 900 square foot 2 bedroom home that sits on 2 acres of fenced horse pasture.

These real estate prices can't last forever. It makes me tempted to sell my place, sit on the cash, and camp out or couch-surf for a few months until things fall apart, and then buy it back for pennies on the dollar. However, what if we are in a period of hyperinflation?
PM[Linked Image]


My life is better than your vacation
Re: Crazy real estate prices [Re: waggler] #7013652
10/10/20 11:25 AM
10/10/20 11:25 AM
Joined: Mar 2010
Posts: 2,291
South Dakota
H
Hydropillar Offline
trapper
Hydropillar  Offline
trapper
H

Joined: Mar 2010
Posts: 2,291
South Dakota
if hyper inflation is yorue only worry... sell and invest in physical gold...
all these markets have me scratchin my head..... who makes that kind of money to pay the morgage


The only place you find free cheese is in a mousetrap !
Re: Crazy real estate prices [Re: waggler] #7013654
10/10/20 11:28 AM
10/10/20 11:28 AM
Joined: Dec 2016
Posts: 1,131
N.J.
PineDoggin Offline
trapper
PineDoggin  Offline
trapper

Joined: Dec 2016
Posts: 1,131
N.J.
We have all the New Yorker's moving out of the city coming down here buying anything that comes available. Our area is going to be totally different after this year. As far as you go. You said the magic word (horse) But same thing going on here.I'd like to build a wall to the North,LOL

Re: Crazy real estate prices [Re: waggler] #7013655
10/10/20 11:28 AM
10/10/20 11:28 AM
Joined: Dec 2006
Posts: 1,899
Moved to Fbks, Ak.
M
martentrapper Offline
trapper
martentrapper  Offline
trapper
M

Joined: Dec 2006
Posts: 1,899
Moved to Fbks, Ak.
Careful, the down trodden in Seattle might come burn it down!

Re: Crazy real estate prices [Re: waggler] #7013656
10/10/20 11:28 AM
10/10/20 11:28 AM
Joined: Dec 2016
Posts: 1,131
N.J.
PineDoggin Offline
trapper
PineDoggin  Offline
trapper

Joined: Dec 2016
Posts: 1,131
N.J.
We have all the New Yorker's moving out of the city coming down here buying anything that comes available. Our area is going to be totally different after this year. As far as you go. You said the magic word (horse) But same thing going on here.I'd like to build a wall to the North,LOL

Re: Crazy real estate prices [Re: waggler] #7013659
10/10/20 11:34 AM
10/10/20 11:34 AM
Joined: Dec 2006
Posts: 13,880
SEPA
L
Lugnut Offline
trapper
Lugnut  Offline
trapper
L

Joined: Dec 2006
Posts: 13,880
SEPA
Real estate prices will continue to climb as long as there are fools with money, or able to borrow money and pay those insane prices.


Eh...wot?

Re: Crazy real estate prices [Re: waggler] #7013661
10/10/20 11:36 AM
10/10/20 11:36 AM
Joined: Dec 2013
Posts: 8,105
Greene County,Virginia
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run Offline
trapper
run  Offline
trapper
R

Joined: Dec 2013
Posts: 8,105
Greene County,Virginia
Our real estate prices have been crazy for a long time.


wanna be goat farmer.
Re: Crazy real estate prices [Re: waggler] #7013664
10/10/20 11:40 AM
10/10/20 11:40 AM
Joined: Mar 2011
Posts: 6,891
Montana ,Rocky Mtns.
Sharon Offline
"American Honey"
Sharon  Offline
"American Honey"

Joined: Mar 2011
Posts: 6,891
Montana ,Rocky Mtns.
I see a horse trailer on the next door driveway. Is that small land parcel in a zoned rural or suburb area ? Sure is a small place if it is in the country zoning.

And yes that price drops my jaw.

Re: Crazy real estate prices [Re: waggler] #7013667
10/10/20 11:42 AM
10/10/20 11:42 AM
Joined: Mar 2013
Posts: 1,131
chelsea,wi
keets Offline
trapper
keets  Offline
trapper

Joined: Mar 2013
Posts: 1,131
chelsea,wi
seems like this has happened before...... whistle


2014 goals
(1) HAVE FUN
(2) TRY TO MAKE SOME MONEY
Re: Crazy real estate prices [Re: waggler] #7013668
10/10/20 11:42 AM
10/10/20 11:42 AM
Joined: Dec 2010
Posts: 7,213
Armpit, ak
D
Dirt Offline
trapper
Dirt  Offline
trapper
D

Joined: Dec 2010
Posts: 7,213
Armpit, ak
Prices go up so much because of the government programs to support the real estate industry. Normalize interest rates and get rid of all the loan guarantee programs and real estate would become more affordable.


Who is John Galt?
Re: Crazy real estate prices [Re: waggler] #7013669
10/10/20 11:44 AM
10/10/20 11:44 AM
Joined: Feb 2014
Posts: 21,006
nm
A
adam m Offline
trapper
adam m  Offline
trapper
A

Joined: Feb 2014
Posts: 21,006
nm
And that's just the listed price.
Houses are flying off the market and often wel over asking. I've been at it for months trying to buy a house. Now here the realtor is asking for a Time Off Market fee which is a non earnest money so if it should fall through the seller keeps money.
As long as rates stay this low it will be a seller's market. If Biden gets ejected the market will tank (my prediction)

Re: Crazy real estate prices [Re: waggler] #7013672
10/10/20 11:46 AM
10/10/20 11:46 AM
Joined: Dec 2006
Posts: 4,883
Three Lakes,WI 69
C
corky Offline
trapper
corky  Offline
trapper
C

Joined: Dec 2006
Posts: 4,883
Three Lakes,WI 69
We have a boom market here with people moving from Milwaukee and Chicago to work from home and get away from high taxes and crime. The major problem is that they then try to turn our little towns into the crapholes they came from. I'm hoping that a good winter will slow down the influx as people have second thoughts. I'm naturally resistant to change even though I recognize that it is inevitable.

Re: Crazy real estate prices [Re: waggler] #7013676
10/10/20 11:53 AM
10/10/20 11:53 AM
Joined: Jan 2016
Posts: 885
Indiana
C
concrete man Offline
trapper
concrete man  Offline
trapper
C

Joined: Jan 2016
Posts: 885
Indiana
It should be a lot higher to keep them out.

Re: Crazy real estate prices [Re: Sharon] #7013678
10/10/20 11:54 AM
10/10/20 11:54 AM
Joined: Jan 2008
Posts: 5,246
Alaska and Washington State
W
waggler Offline OP
trapper
waggler  Offline OP
trapper
W

Joined: Jan 2008
Posts: 5,246
Alaska and Washington State
Originally Posted by Sharon
I see a horse trailer on the next door driveway. Is that small land parcel in a zoned rural or suburb area ? Sure is a small place if it is in the country zoning.

And yes that price drops my jaw.

Funny you should mention the horse trailer at the double-wide, the lady who lives there keeps her horses at my place, her horses are good brush eaters.
Zoning is not rural, but you can have animals.


My life is better than your vacation
Re: Crazy real estate prices [Re: waggler] #7013687
10/10/20 12:02 PM
10/10/20 12:02 PM
Joined: Apr 2014
Posts: 5,529
MO
cfowler Offline
trapper
cfowler  Offline
trapper

Joined: Apr 2014
Posts: 5,529
MO
Medium income in US $34,000. Medium home price in US $300,000plus. Makes ya wonder. Houses in my area selling fast as they can list them. Brother-in-law purchased a home in KC, MO area early this year. Already been offered 20% more than he paid, and he’s not trying to sell. They just knocked and said, “we’ll pay 20% more than you paid”. Loans are cheap, and lots of big city folks going rural or small town.


I trap for fun. I skin 'em for the money!
Grinners For Life-Lifetime Member, MO Chapter, Den #1
~You Grin, You're In~
Re: Crazy real estate prices [Re: waggler] #7013690
10/10/20 12:05 PM
10/10/20 12:05 PM
Joined: May 2013
Posts: 2,630
Green Bay, Wisconsin
tlguy Offline
trapper
tlguy  Offline
trapper

Joined: May 2013
Posts: 2,630
Green Bay, Wisconsin
My wife and I bought a house last August at list price of $210k, and it was on the market for a while and actually had a price drop right before we bought it. Fast forward a year and we're getting divorced and accepted an offer of $230k for that same house just over a year later.

Re: Crazy real estate prices [Re: waggler] #7013692
10/10/20 12:06 PM
10/10/20 12:06 PM
Joined: Mar 2011
Posts: 6,891
Montana ,Rocky Mtns.
Sharon Offline
"American Honey"
Sharon  Offline
"American Honey"

Joined: Mar 2011
Posts: 6,891
Montana ,Rocky Mtns.
Thanks Waggler, that is what it is like in many areas here in MT too. Most folks have a relaxed appreciative view of rural life, even in town city limits.

Re: Crazy real estate prices [Re: waggler] #7013695
10/10/20 12:12 PM
10/10/20 12:12 PM
Joined: Jul 2010
Posts: 2,444
American In the Pyrenees; Fran...
S
swift4me Offline
trapper
swift4me  Offline
trapper
S

Joined: Jul 2010
Posts: 2,444
American In the Pyrenees; Fran...
Same here in France. People are leaving the big cities and looking for rural or small town life.

The work from home thing is a big trend worldwide.

Pete

Re: Crazy real estate prices [Re: waggler] #7013699
10/10/20 12:28 PM
10/10/20 12:28 PM
Joined: Nov 2010
Posts: 410
Indiana
D
DanN Offline
trapper
DanN  Offline
trapper
D

Joined: Nov 2010
Posts: 410
Indiana
They are leaving Illinois and moving here to Indiana by the droves to get away from crime and taxes - yet they will continue to vote the same types in that turned their state to crap. You think they'd learn.

Re: Crazy real estate prices [Re: waggler] #7013721
10/10/20 12:53 PM
10/10/20 12:53 PM
Joined: Feb 2020
Posts: 126
ID
C
cbat Offline
trapper
cbat  Offline
trapper
C

Joined: Feb 2020
Posts: 126
ID
Yep we got the infux of California and Washington here. It is driving up prices to the point that young people can not afford to stay here.


The real Wally
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