WELCOME TO RIVER DAVES PLACE

Real Estate Prices are just insane.

Mandelon

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I bought this little shack 22 years ago for $32,000 from an investor. We had to kick out the homeless bums, haul away actual buckets of shit, and make it a decent little place. I remodeled it and sold it for $80,000 in 1999.

I was on Zillow today, and checked on it. Current value is now over $400,000! A few blocks away I bought another little house for $55K, and sold it for $99K, again, back in the late 1990's, it is now $470,000.

61st st.JPG


If you can buy and hold for the right 20 year period, holy hell that's easy money. Nowadays places are so expensive it is hard to make deals work unless you're already fat with cash. Homes in better neighborhoods have had a million dollars of appreciation over 20 years. Should have kept all these places and let the tenants pay them off.
 

lbhsbz

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Bought for $316K in 2008.
Just sold for $601

$580/sq ft. Lol. Makes no sense.
 

BHC Vic

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My parents bought in Phillips ranch 94. Under 200k. The could easily get 4x that today. I make more than both my parents, maybe even combined some years, and I can’t afford to live on that street. It’s crazy. I could live on the street I’m exaggerating a little but it would be extremely rough. My good friends the Nieman’s live on the same streetZ they just sold their house. My whole life I wanted that house. I could have bought it but I paid 200k less for my house in norco and got 2 or 3x the land. I don’t get it. Bad timing I guess
 

2Driver

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It’s nuts, it’s like the introduction of the first yellow FJ cruiser but for everything. 😁 Nothing makes sense to me or at least in a sustainable, stable economy kind of way.
 

The Prisoner

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Everything is insane. Even in goofy Kingman there is nothing for rent either.
 

Universal Elements

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Everything is insane. Even in goofy Kingman there is nothing for rent either.

A lot of California LE, Firemen And retirees are buying big properties in the nice parts of Ceder Hills or North side of Stockton rd. Houses are going Quick. You have to put in offers before even seeing the places in person if you want the property. Prices are climbing quick too. Oh some of those pictures can be so deceiving too.
 

The Prisoner

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A lot of California LE, Firemen And retirees are buying big properties in the nice parts of Ceder Hills or North side of Stockton rd. Houses are going Quick. You have to put in offers before even seeing the places in person if you want the property. Prices are climbing quick too. Oh some of those pictures can be so deceiving too.
Yes. My sister is an agent here and even she can’t find anything for the tenants in her other house she wants to move back into. My step son is fearful he will be homeless at the end of the month because the lease runs out on his apartment and the landlord wants to remodel and charge more.
 

monkeyswrench

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I'm a survivor of dumb luck. 1st house was in the ghetto, 100k in 1999. Skinned a fat hog with that one, sold in 01 for 135k. Moved to a nicer ghetto, stayed there for 7 years, bumped up again...made about 50%. The last go around, that 50% cleared was turned into the home I live in now. Been here 8 years. Price has doubled here, but I'm staying for a bit.
 

Buddy

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Its like this across the US now. The last 3 months alone have been insane.
SOMETHING HAS TO POP
 

LargeOrangeFont

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While I'm very happy with the equity increase in my home over 20 years I just dont see how my kids will ever be able to afford to buy anything in this state when they are older.

If we have taught them anything, I’m hoping they don’t even bother trying to stay in this state.

I bought my house in 2009, for $400, and it’s worth over $700 today.
 

liv4riv

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So you are telling your kids to buy where it is less costly and enjoy less appreciation
?
 

BHC Vic

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I’m advising my kids to get good jobs. I kind of know where shot went sideways for me. I’m going to try to parent my way past that with the boys. Never in a million years did I think I would end up in construction. I did though, and had to bust my ass. I’m just smart/lucky enough to not have to wear my bags and kill myself anymore. If the kids want to follow my footsteps that’s fine I’ve made a nice path. If they want to go to school that’s what I’m hoping for.
 

DRYHEAT

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Just be glad the insanity isn’t going the other way.😊
 

77charger

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Old home bought in 2000 for 190k pulled some money out but not crazy just sold in may for 585k and left ca.Made 300k and put 250k of that down on a 300k home in az.

And to think i may have did it wrong i should have taken that 300 buy a new deck boat and a diesel pusher with this toy buying frenzy then put remaining left over as the down payment.LOL
 

LargeOrangeFont

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Old home bought in 2000 for 190k pulled some money out but not crazy just sold in may for 585k and left ca.Made 300k and put 250k of that down on a 300k home in az.

And to think i may have did it wrong i should have taken that 300 buy a new deck boat and a diesel pusher with this toy buying frenzy then put remaining left over as the down payment.LOL

What a dumbass! :)
 

TimeBandit

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Real estate prices are my savior.

Google "ADU", or what I call my retirement plan. I just renewed my tenants lease in the main 1,320 square foot house, her 5th year at $3,000/month. Her 5 years of rent is more than I paid for the place in 1993. The lot is 13,000 square feet, divided by a fence. The 920 square foot garage in back with alley access with become a 2 bedroom rental in the next 2 years, It should get $2,200/month or so. So my latest gripe is construction prices!

People have to live where the jobs are. But I'm stuck here like many because the wife will NOT leave the grandkids.
 

NicPaus

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The ADU specialist i work with is slammed. Waiting on plans now for 1. Construction prices are way up but so are materials, permit fees and everything else that bring them up.
 

77charger

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The ADU specialist i work with is slammed. Waiting on plans now for 1. Construction prices are way up but so are materials, permit fees and everything else that bring them up.
A friend of mine has 5 properties in newport cameo shores his current house hes working on he was there as i was working on showers was telling me the permits and city requirements was crazy expensive.He had to also do some temporary shoring that alone was about 480k then it will be another 200-300k to remove it when finished and had to have a city inspector there at 300 bucks a day while the work was being done. He has been working on this home for almost a year its almost done though now.
 

Looking Glass

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Nothing is worth ANYTHING, until you have someone sitting across the table from you with $'s in their hand ready to trade you.
 

dribble

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While I'm very happy with the equity increase in my home over 20 years I just dont see how my kids will ever be able to afford to buy anything in this state when they are older.

We used to say that when the price of a new 2000 sq ft house went up to 120K.
 

nameisbond

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I watch Incline Village (Lake Tahoe), houses there just under $2million are flying off the shelf. My parents sold their house there in 1993 for $500k. Zillow says its worth $1.6million now. I believe it. Here in Vancouver its also a little crazy. But the area I'm looking at is a little slow.
 

Lavey29

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We used to say that when the price of a new 2000 sq ft house went up to 120K.

Yes and I remember flipping burgers as a kid for 1.95 an hour and wondering how I could ever afford to buy my first car. We are in another housing bubble here in cali that will not last. Traditionally home values increase about 5% a year and it balanced with salary increases, taxes, cost of living etc... the balance is way off now. Home prices are to high, taxes increased to much cost of living like groceries and gas increased to much but salaries for employment has not increased at the same rate not to mention that well paying jobs are very competitive to acquire without prior experience and high level degrees.

I look ar myself as an example. My house new I bought for 229K in 1999. Now worth over 700K . Everything I mentioned previously has increased dramatically over the past 20 years but my salary did not increase at the same rate. My house went up 3X but my salary did not and everything else like college tuition, new car purchase, etc...went up huge. Does this affect me currently? To some degree but still manageable as I'm retired now but how does the aforementioned imbalance affect young people trying to buy their first home as a married couple? It is a significant set back for them. Yes, a lot of the blame can be directed towards California s failed socialist leadership because they want to eliminate the middle class and force people out of the suburbs back to the inner ghettos cities to live in those "tiny living apartments " spaces thinking the integration will revitalize the shitty inner cities.
 

LHCBOY

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How do you boat From the inland water to the ocean?

20 minutes to North Jetty or 20 minutes south to Stump Pass. We are looking it that area as well. There are some great deals we believe


Sent from my iPhone using Tapatalk
 

Instigator

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In Florida you can still buy a house 2 blocks from the water with a boat ramp and private beach for 200k. Even high 100's.

You have my attention. :D
Stump Pass looks cool. Have to start looking.
What about the noseeums?
 
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SIK-06

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Bought our pad in 2011 for $255K its now at $500K Not too shabby!
 

941Punk

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You have my attention. :D
Stump Pass looks cool. Have to start looking.
What about the noseeums?

Stump Pass is rad! You'll get dolphin & manatees cruising the channels. You can fish for reds and snook in crystal clear Bahama type water just inside the inter coastal.

Noseeums, they mostly come out around water at sundown. I don't feel them at home, only in the mangroves. If you wear a long sleeve sun shirt and bug spray, you'll be fine. I think the bugs and critters are over hyped when talking about Florida. It's not like fucking scorpions crawling on the ceiling over your bed or checking your shoes!!
 

GRADS

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I watch Incline Village (Lake Tahoe), houses there just under $2million are flying off the shelf. My parents sold their house there in 1993 for $500k. Zillow says its worth $1.6million now. I believe it. Here in Vancouver its also a little crazy. But the area I'm looking at is a little slow.
Tahoe prices are beyond insane!!! They make the rest of the market look like we are in a recession. Tahoe real estate market has NEVER been better. The reason for it is all the people working from home...it turns out that if people can work from home and live anywhere, Tahoe is their top choice.
 

nameisbond

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Tahoe prices are beyond insane!!! They make the rest of the market look like we are in a recession. Tahoe real estate market has NEVER been better. The reason for it is all the people working from home...it turns out that if people can work from home and live anywhere, Tahoe is their top choice.

I mostly watch Sotheby's website. Even just under $3million on their site, most of their listings say under contract. Almost minutes after hitting their site it gets under contract. Its insane..............................

my parents house there: https://www.zillow.com/homedetails/717-Golfers-Pass-Rd-Incline-Village-NV-89451/7326889_zpid/ The only difference between when we owned it and now. Someone knocked down the wall between the kitchen and family room. Making it an open concept. I like the wall better. I bet the pool table is the same one we left when sold in 93.
 

78Southwind

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My Aunt bought her house around 1978 in Los Gatos for $75,000. Zillow says it's now worth $1,557,000. Silicon Valley is insane... Seems outrageous but it's only around a compounded annualized return of 7.5%.
 

rivrrts429

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My grandparents bought their house on Balboa Island, which included a one bedroom studio, for $18,000.

This was a huge ordeal because they paid cash for their house in Downey within five years of both purchases for $11,000.

As One-A-Day says.... live life...
 

boatpi

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Nevada as a whole is hot, working from home, no income tax is a biggie.
 

BONER

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In AZ, it's a sellers market for sure.
 
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