Crazy real estate prices
#7013647
10/10/20 12:15 PM
10/10/20 12:15 PM
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Joined: Jan 2008
Posts: 9,151 Alaska and Washington State
waggler
OP
trapper
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OP
trapper
Joined: Jan 2008
Posts: 9,151
Alaska and Washington State
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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
"My life is better than your vacation"
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Re: Crazy real estate prices
[Re: waggler]
#7013652
10/10/20 12:25 PM
10/10/20 12:25 PM
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Joined: Mar 2010
Posts: 2,943 South Dakota
Hydropillar
trapper
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trapper
Joined: Mar 2010
Posts: 2,943
South Dakota
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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 !
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Re: Crazy real estate prices
[Re: waggler]
#7013659
10/10/20 12:34 PM
10/10/20 12:34 PM
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Joined: Dec 2006
Posts: 19,926 SEPA
Lugnut
trapper
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trapper
Joined: Dec 2006
Posts: 19,926
SEPA
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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?
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Re: Crazy real estate prices
[Re: waggler]
#7013668
10/10/20 12:42 PM
10/10/20 12:42 PM
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Joined: Dec 2010
Posts: 11,134 Armpit, ak
Dirt
trapper
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trapper
Joined: Dec 2010
Posts: 11,134
Armpit, ak
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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?
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Re: Crazy real estate prices
[Re: Sharon]
#7013678
10/10/20 12:54 PM
10/10/20 12:54 PM
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Joined: Jan 2008
Posts: 9,151 Alaska and Washington State
waggler
OP
trapper
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OP
trapper
Joined: Jan 2008
Posts: 9,151
Alaska and Washington State
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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"
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Re: Crazy real estate prices
[Re: waggler]
#7013687
10/10/20 01:02 PM
10/10/20 01:02 PM
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Joined: Apr 2014
Posts: 7,081 MO
cfowler
trapper
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trapper
Joined: Apr 2014
Posts: 7,081
MO
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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~
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