Real estate

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  • Clipdat
    Clipdat Posts: 12,949
    Well hopefully it returns to some sense of normalcy by 2025.
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  • sucks2beme
    sucks2beme Posts: 5,602
    Nobody learned their lesson in 2008. They are back to shady
    mortgage practices. As the prime lending rate goes up, prices
    will come down. And it won't be pretty.
    "The legitimate powers of government extend to such acts only as are injurious to others. But it does me no injury for my neighbour to say there are twenty gods, or no god. It neither picks my pocket nor breaks my leg." --Thomas Jefferson
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  • tonyb
    tonyb Posts: 32,981
    sucks2beme wrote: »
    Nobody learned their lesson in 2008. They are back to shady
    mortgage practices. As the prime lending rate goes up, prices
    will come down. And it won't be pretty.

    You mean we get to do foreclosures again, car repos ? I'm making the popcorn.
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  • invalid
    invalid Posts: 1,371
    What lesson did they learn? They got bailed out and still foreclosed on a bunch of people.
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  • treitz3
    treitz3 Posts: 19,123
    https://abc11.com/raleigh-homes-for-sale-real-estate-market-realtors-home-buying/11711255/?ex_cid=TA_WTVD_FB&utm_campaign=trueAnthem: Trending Content&utm_medium=trueAnthem&utm_source=facebook&fbclid=IwAR1zFgQuTtZeq3wAmmHFw5GV3H6ffWZRsE2RkWMiGtnI7d1fUytNOZBRAlQ

    Tom
    ~ In search of accurate reproduction of music. Real sound is my reference and while perfection may not be attainable? If I chase it, I might just catch excellence. ~
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  • oldrocker
    oldrocker Posts: 2,590
    Been looking at property in TN.

    Realtor sent us some info on various places.

    The one she called a "fantastic" deal. A 1700 sq ft manufactured house on 42.5 acres, "not farmland or income producing" just a thinned-out/partial harvested woods.

    But it does have a new central air unit :D

    We're not talking the Nashville area; we're talking northeast of Chattanooga in the boonies here.

    Price $839,900.00 :o
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  • tonyb
    tonyb Posts: 32,981
    The house is worth 39,900, the land 800k. 42 acres is a bit of a chunk.
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  • tonyb
    tonyb Posts: 32,981
    invalid wrote: »
    What lesson did they learn? They got bailed out and still foreclosed on a bunch of people.

    Maybe the question should be....what lesson did WE learn ? Obviously not a thing since we are doomed to keep repeating them. Too big to fail, remember ? You...not so much.
    HT SYSTEM-
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    Cables-
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    Acoustic zen Matrix 2 IC's
    Wireworld eclipse 7 ic's
    Audio metallurgy ga-o digital cable

    Kitchen

    Sonos zp90
    Grant Fidelity tube dac
    B&k 1420
    lsi 9's
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  • pitdogg2
    pitdogg2 Posts: 25,553
    oldrocker wrote: »
    Been looking at property in TN.

    Realtor sent us some info on various places.

    The one she called a "fantastic" deal. A 1700 sq ft manufactured house on 42.5 acres, "not farmland or income producing" just a thinned-out/partial harvested woods.

    But it does have a new central air unit :D

    We're not talking the Nashville area; we're talking northeast of Chattanooga in the boonies here.

    Price $839,900.00 :o

    Because Tennessee is the HOT place to move to in the past 10 yrs, prices have shot up tremendously.
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  • Jstas
    Jstas Posts: 14,839
    Honestly, the Raleigh market has gone insane. It's some of the most highly valued real estate right now. Tennessee is hot, no doubt but what goes for $300K in NJ is going for $550K+ in Raleigh. Nashville area isn't that much more than NJ, probably $400K for similar. But Raleigh is almost double the costs of one of the most expensive housing markets in the nation.
    Expert Moron Extraordinaire

    You're just jealous 'cause the voices don't talk to you!
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  • oldrocker
    oldrocker Posts: 2,590
    tonyb wrote: »
    The house is worth 39,900, the land 800k. 42 acres is a bit of a chunk.

    Assessed at about 307K.
    Land at about 5.5k acre

    Land list is pushing about 20k acre.
    All way overpriced IMO.

    FWIW, family member lives east of Nashville, bought a "spec" house about 6 yrs ago, 300-400k.
    Now routinely competing homes sell for around 1.1M+

    Crazy stuff....
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  • oldrocker
    oldrocker Posts: 2,590
    Funny when you do some digging on past sales disclosures of property.

    Some past sales 1-2 years ago show previous sales of 80% to 90% less than current list.

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  • TroyD
    TroyD Posts: 13,077
    Here in Charleston it's absolutely insane.....but it's like that in a lot of places, I guess. People are fleeing metro areas.

    Played golf a couple months ago with 3 folks (business partners) from NY who each bought houses, sight unseen, in Charleston, Tampa and outside of Houston. They were going to pick one location and the other two flip as investment properties...
    I plan for the future. - F1Nut
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  • Willow
    Willow Posts: 11,040
    Average price in Toronto 1.3m average price here in Ottawa 850K, Vancouver 1.3M, Montreal 546K and Halifax just shy of 400K.
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  • Jstas
    Jstas Posts: 14,839
    Willow wrote: »
    Average price in Toronto 1.3m average price here in Ottawa 850K, Vancouver 1.3M, Montreal 546K and Halifax just shy of 400K.

    Are those Canukistanian Dollhairs or "Murica Dollhairs"?
    Expert Moron Extraordinaire

    You're just jealous 'cause the voices don't talk to you!
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  • sucks2beme
    sucks2beme Posts: 5,602
    My neighborhood was devastated in 2012. Not a disaster, but annexed
    by the city of Memphis. You couldn't give them away. We were de-annexed
    A couple of years ago. House prices doubled. Prices are still low for the area.
    Coupled with low taxes, and the central location make it very popular all of
    a sudden. And now we get our trash picked up and county law enforcement
    actually patrols the area. Win, win. Houses are selling the same weekend
    they are listed.
    "The legitimate powers of government extend to such acts only as are injurious to others. But it does me no injury for my neighbour to say there are twenty gods, or no god. It neither picks my pocket nor breaks my leg." --Thomas Jefferson
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  • Willow
    Willow Posts: 11,040
    Jstas wrote: »
    Willow wrote: »
    Average price in Toronto 1.3m average price here in Ottawa 850K, Vancouver 1.3M, Montreal 546K and Halifax just shy of 400K.

    Are those Canukistanian Dollhairs or "Murica Dollhairs"?

    CAD
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  • pitdogg2
    pitdogg2 Posts: 25,553
    kilberandy reported
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