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Re: Crazy real estate prices [Re: waggler] #7013887
10/10/20 07:00 PM
10/10/20 07:00 PM
Joined: Mar 2018
Posts: 948
Indiana
H
Huntall76 Offline
trapper
Huntall76  Offline
trapper
H

Joined: Mar 2018
Posts: 948
Indiana
I bought a house last July. We were looking for about 2 months. Our realtor was amazing she sent us stuff as soon as they where listed. 3 of the 7 she sent us we didn't even get to look at because they sold within hours. The house we ended up buying was listed for 8 hours. We looked at it at 3:00 pm and put in a bid $5,000 over asking price with a stipulation that I wanted an answer by 8 pm because 1 house we put a bid on for asking price we got out bid. Payed $175,000 for the house that was completely redone. Got an offer from a gentleman a few months ago willing to pay $225,000 cash. It was tempting for a minute but I know how much a pain it would be to find another one in the area we want to live. It's crazy in the market right now.

Re: Crazy real estate prices [Re: waggler] #7013891
10/10/20 07:03 PM
10/10/20 07:03 PM
Joined: Jan 2007
Posts: 150
SW Idaho
Y
yousowise Offline
trapper
yousowise  Offline
trapper
Y

Joined: Jan 2007
Posts: 150
SW Idaho
Your making 24,000 a year before expenses on $649,000. That’s only 3.7% return on your money after expenses probably only 3%. I realize that you probably bought it for way less and the return on the money you actually spent is much higher. If you sell the $650,000 in a broad market index fund should on average return at least double. With very little expenses (like 0.05%). I would sell, unless you see the value going much higher. Another way to look at it, would you spend $650,000 to buy it? If no, then sell.

Re: Crazy real estate prices [Re: waggler] #7013995
10/10/20 09:34 PM
10/10/20 09:34 PM
Joined: Aug 2011
Posts: 45,261
james bay frontierOnt.
B
Boco Offline
trapper
Boco  Offline
trapper
B

Joined: Aug 2011
Posts: 45,261
james bay frontierOnt.
Here real estate prices are tied to jobs.
When they discovered the huge Gold deposit at Detour Lake,North West of Cochrane and announced the opening of the mine,real estate went up 40% overnight.


Forget that fear of gravity-get a little savagery in your life.
Re: Crazy real estate prices [Re: keets] #7014001
10/10/20 09:44 PM
10/10/20 09:44 PM
Joined: Jul 2012
Posts: 2,619
Nebraska
WadeRyan Offline
trapper
WadeRyan  Offline
trapper

Joined: Jul 2012
Posts: 2,619
Nebraska
Originally Posted by keets
seems like this has happened before...... whistle

Was that around 2008?


Follow me on YouTube if you’re bored

https://www.youtube.com/channel/UC5Ulx1woYMmCN3IPLB0wwFw


Re: Crazy real estate prices [Re: waggler] #7014221
10/11/20 07:24 AM
10/11/20 07:24 AM
Joined: Jun 2016
Posts: 13,964
Michigan
T
Trapper Dahlgren Offline
trapper
Trapper Dahlgren  Offline
trapper
T

Joined: Jun 2016
Posts: 13,964
Michigan
same thing here ,we are getting lots of people from the city's ,coming up to the u p of michigan , not good , jmo ,

Re: Crazy real estate prices [Re: Trapper Dahlgren] #7014242
10/11/20 07:52 AM
10/11/20 07:52 AM
Joined: Aug 2020
Posts: 87
Michigan- Escanaba
F
Fatheroftwo Offline
trapper
Fatheroftwo  Offline
trapper
F

Joined: Aug 2020
Posts: 87
Michigan- Escanaba
The UP is a joke. My parents live in De Tour and everything’s being bought up. Houses that have been on the market for years have sold. Everyone’s hoping it goes back to normal in a year or two.

Re: Crazy real estate prices [Re: ] #7014251
10/11/20 07:59 AM
10/11/20 07:59 AM
Joined: Dec 2006
Posts: 21,536
Sandhills Nebraska
G
Gary Benson Online shocked
trapper
Gary Benson  Online Shocked
trapper
G

Joined: Dec 2006
Posts: 21,536
Sandhills Nebraska
Originally Posted by Twolines
Wonder if we should sell?....

If you don't mind the capital gains tax..........


Life ain't supposed to be easy.
Re: Crazy real estate prices [Re: waggler] #7014259
10/11/20 08:07 AM
10/11/20 08:07 AM
Joined: Dec 2006
Posts: 21,536
Sandhills Nebraska
G
Gary Benson Online shocked
trapper
Gary Benson  Online Shocked
trapper
G

Joined: Dec 2006
Posts: 21,536
Sandhills Nebraska
[Linked Image]
This is my Aunts home in Seattle near Puget Sound. They bought it in the 1950s. I think its all about the property taxes


Life ain't supposed to be easy.
Re: Crazy real estate prices [Re: waggler] #7014271
10/11/20 08:19 AM
10/11/20 08:19 AM
Joined: Oct 2020
Posts: 4
West-Central MN
L
Luke Jackson Offline
trapper
Luke Jackson  Offline
trapper
L

Joined: Oct 2020
Posts: 4
West-Central MN
With the Feds keeping interest rates artificially low everyone who works part time think they can buy a $300k house. I own 13 rentals that I fully rehabbed and have thought about selling a couple of them but I can't think of a better asset to put the money in. The Feds are printing $1.3B a day, so high rates of inflation is inevitable. Scary times!

Re: Crazy real estate prices [Re: waggler] #7014288
10/11/20 08:39 AM
10/11/20 08:39 AM
Joined: Feb 2019
Posts: 601
ontario, canada
O
old243 Offline
trapper
old243  Offline
trapper
O

Joined: Feb 2019
Posts: 601
ontario, canada
My dads , saying in a case like this , was If you don't know what to do , do nothing. The meaning being, take some more thinking time, until it is clear, what is best for your situation. Has always worked for me. You might occasionaly , miss an opportunity. But not often. old243

Re: Crazy real estate prices [Re: waggler] #7014298
10/11/20 08:49 AM
10/11/20 08:49 AM
Joined: Sep 2012
Posts: 7,236
West Michigan
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Getting There Offline
trapper
Getting There  Offline
trapper
G

Joined: Sep 2012
Posts: 7,236
West Michigan
We just had a house about 500 feet down the street sell for $400.000 and they tore it down and built a new house..


To Old
U.S. Army 60-63 SGT.
Re: Crazy real estate prices [Re: Getting There] #7014341
10/11/20 09:29 AM
10/11/20 09:29 AM
Joined: Apr 2014
Posts: 7,081
MO
cfowler Offline
trapper
cfowler  Offline
trapper

Joined: Apr 2014
Posts: 7,081
MO
Originally Posted by Getting There
We just had a house about 500 feet down the street sell for $400.000 and they tore it down and built a new house..

That’s happened around here, in a couple cases. Insane!


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] #7014546
10/11/20 01:39 PM
10/11/20 01:39 PM
Joined: Mar 2007
Posts: 35,124
McGrath, AK
W
white17 Offline

"General (Mr.Sunshine) Washington"
white17  Offline

"General (Mr.Sunshine) Washington"
W

Joined: Mar 2007
Posts: 35,124
McGrath, AK
I'd sell just to get out of the Seattle area. Look at the market around Boise if you're looking for another investment. Getting crowded there already.


Mean As Nails
Re: Crazy real estate prices [Re: waggler] #7014550
10/11/20 01:45 PM
10/11/20 01:45 PM
Joined: Dec 2006
Posts: 21,536
Sandhills Nebraska
G
Gary Benson Online shocked
trapper
Gary Benson  Online Shocked
trapper
G

Joined: Dec 2006
Posts: 21,536
Sandhills Nebraska
I guess there is a clause that you can sell and then buy back "in kind" to avoid the capital gains tax.


Life ain't supposed to be easy.
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