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Surging Home Values

LargeOrangeFont

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CA or AZ?
CA, South Orange County. Zillow bought it for $864K in mid June. It has been a rental for almost 20 years. They came in and polished the turd for a couple weeks and listed it at $983K and the end of June and dropped it to $929K last month. It looks like they just pulled it off the market yesterday.

$864K was probably the retail number on the house given the condition. Fully remodeled versions of that floorplan were going for $1M around the same time.
 
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bldrinker

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You also shouldn't keep your head in the sand if you are worried about such things. The housing market does not fall apart unless the fundamentals fall apart.
I’m not to worried. I bought my house at 192k it’s worth about double that.

If the market tanks I will buy a second house. If it don’t I don’t really care.

This thread mainly affects people who don’t have a home but need to buy. I’m glad I’m not them.
 

LargeOrangeFont

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I’m not to worried. I bought my house at 192k it’s worth about double that.

If the market tanks I will buy a second house. If it don’t I don’t really care.

This thread mainly affects people who don’t have a home but need to buy. I’m glad I’m not them.
I would argue it affects anyone that wants to by anything. Opportunity cost is a thing.
 

TimeBandit

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I watch Incline Village and check to see if my parents house there that they sold in 93 ever comes on the market. It last sold in 2016 for just over $1 million. Its currently on the market 717 Golfers Pass Rd, Incline Village, NV, 89451 | realtor.com® Big price jump if they get close to asking!
A friend of mine bought in that subdivision at the last housing peak for almost 2 million all in with remodeling and his sits at 3.5 now also but his wife won't let him sell!
 

Done-it-again

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No, just the build. We are building with ICF and 26 foot high ceiling in the great room so that costs a little more. This price is turn key, includes landscaping, a small pool also the grading and driveways, there is over 1/4 mile of driveway.
That explains a lot..... Not familiar with ICF so watch some youtube videos, interesting.

Hope you do a build thread, would be fun to follow.
 

nameisbond

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A friend of mine bought in that subdivision at the last housing peak for almost 2 million all in with remodeling and his sits at 3.5 now also but his wife won't let him sell!
Id sell............................... Parents bought it because we snow skied and back in 81 Whistler/Blackcomb wasn't developed yet. Sold it because us kids all out of high school and didn't go skiing with our parents. We wanted to be in Whistler with our friends. Showed my dad, he was thinking of keeping and use it as a rental. Says he doesn't regret selling, but should have kept it a few more years.
 

stokerwhore

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I back my comments with facts and statistics that support my argument.

It's not my fault 90% of you will fall for tits in a skirt sales lady that doesn't know her ass from a hole in a ground that up sells you on a house in BFE that you over paid for. I sure she appreciates it.
Pics?
 

BHC Vic

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Market is cooling off in my area. Bid wars aren’t as common and price reductions are happening. good news for me and my old neighbor
7DDB9190-7479-4900-93FC-433298679135.png
 

pronstar

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Homes sales follow regular, seasonal trends.

Things ramp up in the spring and summer, and slow down in the fall and winter.

We’re now entering fall.

Is the market cooling, or is it just typical seasonality…y’all can decide for yourselves.


Sent from my iPhone using Tapatalk Pro
 

hallett21

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I will say what changed my tune about selling. So my wife and I can go buy dirt closer to the ocean, was the current rental rates.

We can rent our home for 2x our loan + taxes.


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77charger

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the market value is up 10% just over last month. that's a conservative example. it's kinda pissing me off lol. In CA my current home is down 2% last month again. we're looking to move anyway. i'm done.
My Fullerton home went up about 60k since we sold it az home about 100k since we bought it.
 

Orange Juice

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Location, location, location.

The sunbelt out west, is more predictable, than the Hurricane coast back east.
Try getting a new roof after a hurricane. 😉

Some places are just as nice as California. 😉
Think VRBO.
 
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DLC

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is it off Highland? They are building like 1500 homes on highland


daughter just bought a still being built house in banning for 390,000.1700 square feet with decent size yard but packed in close to houses left and right...............but its banning.lol
 

LargeOrangeFont

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Homes sales follow regular, seasonal trends.

Things ramp up in the spring and summer, and slow down in the fall and winter.

We’re now entering fall.

Is the market cooling, or is it just typical seasonality…y’all can decide for yourselves.


Sent from my iPhone using Tapatalk Pro
Wait but it is almost fall and boat prices are dropping too as they do every year! Something is afoot!
 

2FORCEFULL

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Wait but it is almost fall and boat prices are dropping too as they do every year! Something is afoot!
where is this happening???you can't buy a new boat,... you have to wait a year on the build... the used that got to sell there boat for inflated price because it was peak season, now have to wait till next year....housing and boats are in the same boat,.. back to school always slows the market down,... the boat market is spooky, you have to trust that something else won't happen to stop the build... and you end up with nothing but a reciept for the boat you just bought..
 

LargeOrangeFont

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where is this happening???you can't buy a new boat,... you have to wait a year on the build... the used that got to sell there boat for inflated price because it was peak season, now have to wait till next year....housing and boats are in the same boat,.. back to school always slows the market down,... the boat market is spooky, you have to trust that something else won't happen to stop the build... and you end up with nothing but a reciept for the boat you just bought..
Boat sales and house prices drop every year in the fall like clockwork. New boats are so backlogged the price is the price, but sales slow down, and more come up for sale used in the fall.
 
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