MeCasa16
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We bought a house in Seattle in 2016 for 310k. The tax assessed value was 389k. In 2019 we sold it for 609k. The tax assessed value for 2020 was 405k.
If you can afford to wait, wait. But it won't be months. The market will crash and when it does lending will get tight and it will be tough to qualify. Housing prices will come down but it will take time for the market to find it's floor.
The last crash started in 2007. The media caught on in 2008. The housing market didn't hit bottom until 2010-2012 depending on the area and the lending markets were tight until end of 2011 beginning of 2012.
No, we are staying between my mother in laws and my mothers home at the moment (sold our home in July). This has been working because, A. I have been able to fix everything my mother has been bugging me to fix for 5 yrs. B. I work from 7-6, so when I get home, I eat, play with my daughter and go to bed. C. Our parents are spending a ton of time with my daughter and it has been great, allowing my wife to take some classes.If you are renting you are throwing money away every month. Rent will never get cheaper. Interest rates have never been lower. What exactly are you waiting for? If in another year for prices to drop 10% after after going up another 6% from today? You just lost money in the rent you paid for the year waiting for prices to drop 4%.
No, we are staying between my mother in laws and my mothers home at the moment (sold our home in July). This has been working because, A. I have been able to fix everything my mother has been bugging me to fix for 5 yrs. B. I work from 7-6, so when I get home, I eat, play with my daughter and go to bed. C. Our parents are spending a ton of time with my daughter and it has been great, allowing my wife to take some classes.
But, I am about done with chores, the lake season is about over, and we paid off a few things that had been hanging out there. If we can wait 6 months for a decent drop, I will wait, I don't mid paying reasonable rent....so, I guess I'm just getting opinions.
I've heard that story more than once. 6000sqft for 2 people?? That'd be too much privacy, even for meI have a client that just sold his home in Oceanside that is in the process of moving to Texas, DFW area. His plan was to downsize as it's just him and one 18 year old son. His home in Oceanside was 3200sf home on a decent sized lot and great floor plan. When I spoke to him last night I asked about his downsized new home, he stated it didn't work out....he bought a 6000SF, 6 bedroom home with a huge media room for $500k!
My mother in law just did the same. She sold her home in diamond bar to downsize in Idaho. She bought a 6 bedroom 5 bath house in a couple acres with a horse in Idaho. WeirdI have a client that just sold his home in Oceanside that is in the process of moving to Texas, DFW area. His plan was to downsize as it's just him and one 18 year old son. His home in Oceanside was 3200sf home on a decent sized lot and great floor plan. When I spoke to him last night I asked about his downsized new home, he stated it didn't work out....he bought a 6000SF, 6 bedroom home with a huge media room for $500k!
Haha yep, but does anyone ever think about heating, cooling and CLEANING a 6k sqft houseMy mother in law just did the same. She sold her home in diamond bar to downsize in Idaho. She bought a 6 bedroom 5 bath house in a couple acres with a horse in Idaho. Weird
My wife was literally just saying that. She said I wonder if my mom knew they average 40+ inches of snow and what it cost to heat that place. It’s Shelley Idaho. I don’t know much about it other then it looks really nice. But yea it’s her and her husband with a giant house and a bunch of land.Haha yep, but does anyone ever think about heating, cooling and CLEANING a 6k sqft house
OP: If this is your first or primary home and the numbers work then go for it, get settled in and then start saving for a income property to pick-up when the timing is right for you and your financial situation.
No, we are staying between my mother in laws and my mothers home at the moment (sold our home in July). This has been working because, A. I have been able to fix everything my mother has been bugging me to fix for 5 yrs. B. I work from 7-6, so when I get home, I eat, play with my daughter and go to bed. C. Our parents are spending a ton of time with my daughter and it has been great, allowing my wife to take some classes.
But, I am about done with chores, the lake season is about over, and we paid off a few things that had been hanging out there. If we can wait 6 months for a decent drop, I will wait, I don't mid paying reasonable rent....so, I guess I'm just getting opinions.
This is the reason for the thread. Sanity, or what is left, is thin.With your situation I would buy. The sanity is worth every penny spent.
This is the reason for the thread. Sanity, or what is left, is thin.
I appreciate everyone in this thread. Thank you!
People are still on forbearance when it’s over in 1month shit will hit the bottom. If it’s your primary home and you are currently renting the rates are great just don’t over pay layoffs are coming
We are in Tucson. My company has plenty of stores in Phoenix, but I am pretty happy with the stores I run here at the moment. We are 350k-450k range.Where are you looking? I may have a pre list property in Glendale available in the next 30 days. 350k price range.
If you have a good down payment and If you can afford the payment the same way you can afford rent then go for it. Just like others said DO NOT strip any equity out of it and keep paying it down. You will be amazed how fast time flies. Don't settle for the norm by starting over on 30 year loans every 5-10 years. Make a plan to pay it off in 15 or less and stick to it.
I’m waiting to buy another house in bhc. Prices are way too high. I see what houses are going for and what we paid. We got really lucky.What about. Vacation home in havasu? Wait or go?
What about. Vacation home in havasu? Wait or go?
Your Havasu question over priced wait till March when the snow birds leave and the owners have to start paying . Just got out bid full cash price 210 Asis 10 day close sold in 1 hour 260 house is worth 190 on the high side people are just paying stupid money . In Havasu tear down
Where does stock market and housing/investment real estate market go if senate goes to Dems in January? Incoming president has already discussed raising capital gains to 39%. This will be for higher earners, but there are a lot of higher earners in the markets. Who is going to play in the stock market or home market paying that?
Honestly, if there was ANY sort of smidgeon of a chance that the Senate majority would be lost, then it would have already been priced into the bond market and yields would be much much higher than they are right now. It won't happen.
The guy we bought our river house from paid $900k for it. We waited and bought for $400k.
Housing in certain states has always been cyclical like stocks and the economy. Over time, enough of it, you do ok but its the short 10 year cycles where you can lose your ass buying at the wrong time. unfortunately, its usually the end of the up cycle where many people think its finally safe.
I havent bought again in AZ. I have to repair my credit and wait a few years as right after we bought our home in CA we had quiet a few things that all piled up and caused us to fall behind and fuck up my credit. I have been watching so intently in Tucson because I should be able to be in a good position to buy within the next year or 2 so I want to know what is going on in my desired market when the opportunity arises.When did you buy?
What area are you looking at in Tucson also? Some areas appear to not have been affected much by the increases while as others (like Vail in particular) have jumped substantially.1.Crazy to even think about right now.
2.Wait 3 months
3.Wait 6 months
What is everyone’s take? This is in AZ, Tucson to be exact.
I think we would be crazy, I just want the groups opinion.
Your Havasu question over priced wait till March when the snow birds leave and the owners have to start paying . Just got out bid full cash price 210 Asis 10 day close sold in 1 hour 260 house is worth 190 on the high side people are just paying stupid money . In Havasu tear down
We have been everywhere from the Foothills to the 49ers. The house we sold was in Dove Mountain.What area are you looking at in Tucson also? Some areas appear to not have been affected much by the increases while as others (like Vail in particular) have jumped substantially.
Are you waiting for prices to drop on a house that you want or a house that you need? Going back to my earlier post. I would by a house now that meets your current needs and not your projected future wants. If you find a better place in 6 months, pursue it. More than likely you'll break even on the current house or make some money. In other words, lived there for free. 6 months rent would cost $10K+.No, we are staying between my mother in laws and my mothers home at the moment (sold our home in July). This has been working because, A. I have been able to fix everything my mother has been bugging me to fix for 5 yrs. B. I work from 7-6, so when I get home, I eat, play with my daughter and go to bed. C. Our parents are spending a ton of time with my daughter and it has been great, allowing my wife to take some classes.
But, I am about done with chores, the lake season is about over, and we paid off a few things that had been hanging out there. If we can wait 6 months for a decent drop, I will wait, I don't mid paying reasonable rent....so, I guess I'm just getting opinions.
Short term summer rentals start to take shape after the birds leave and the ROI is much better, that is why we have ours available year around now, no snowbirds.
Just locked down a 14 day rental from a couple up in Washington. That paid my mortgage and now I have 2 weeks we can use it or lock down another couple short terms and we are in the money.
Sorry to side track here. How do you handle the reservations and all other aspects of the short term rentals? We have only done long term over the years. Next year we will take the Havasu house off long term and thinking about short term. Other friends in Parker have a company. Have not looked in Havasu but would like to know if there is one.
Thanks!!!
I personally manage mine and I think it is pretty easy. Finding a few good cleaning crews is important so you can get them in last minute if need be. There are companies like Destination Havasu and Evolve that will do everything for you, but they charge 10% - 20% off each booking. Shoot me a call and would be happy to go over my system in more detail. 661-993-9192
Nice.. When we can buy, Id like to be in the Vail or Tanque Verde school districts ideally. Good schools and nice areas.We have been everywhere from the Foothills to the 49ers. The house we sold was in Dove Mountain.