that's weird because it has not been listed just yet. That is a can of worms selling that thing, most likely gonna hang on to it foreverQuote:
Originally Posted by XXX-er
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that's weird because it has not been listed just yet. That is a can of worms selling that thing, most likely gonna hang on to it foreverQuote:
Originally Posted by XXX-er
well I may have been misteaken but i seen the MLS sign with a sold sticker on the highway heading out of town so i checked again on the way back in and it sure looked like your place (2nd lot in )Quote:
Originally Posted by carpathian
it sure would be a good time to sell cuz town is full of tatooed/ blunstone/ carhart wearing folks with shit in their face so everything is stupid high
it may have also been in a parallel universe
I think it was the lot right behind ours on the highway that just sold.
And yeah Option A has been jumping at me. It is tough thinking expansion mode vs conservation mode when it come to the various layers of civilization peeling back. High interest rates plus inflation plus high food plus high gas etc could all conspire to kill real estate market but like many of you have said it feels bloated and a bit of a correction would not be bad.
I just get paranoid about correcting back to the Stone Age and i'll just wish I had ammo and eggs, which I can still do!
How much does paying $7-$11k a year of interest hurt you?Quote:
Originally Posted by carpathian
Sent from my iPhone using TGR Forums
A. Your HELOC rate is likely set to prime with a floor of 4.50% or a margin of prime plus .50%? In either case, prime is typically fed funds plus 3%, and fed funds is gonna go up, but should level out around 3-4% in 2023-2024. Maybe. That puts you at 6-7% which is not horrible. You might take a gander at how quickly your HELOC rate can rise, too, per the contract. I’ve seen everything from unlimited to 1% per quarter to 1% per year.Quote:
Originally Posted by carpathian
Rates can’t go too high.
30 trillion hard debt can’t be serviced.
Yes. Some older friends had 14% mortgage rates. That cannot happen. Unless the overlords are ready to kill the US dollar.
The Hawaii build sounds like a great deal. Even if value corrects negative 20% it’s still a good investment.
Build it off the heloc. Or pledge the equity as security for a fixed rate construction then long term mortgage
The biggest difference between now and the 70s. 30 trillion is 300 billion a year in servicing costs for every 1%. Now looks more like the post war 40s. Debt / GDP is super close. Back then they let inflation run hot.Quote:
Originally Posted by Core Shot
E) Sell Alaska house, go move to Hawaii.Quote:
Originally Posted by carpathian
Yeah so half of these "cash buyers" are actually manipulated the system buy using pretend equity in a housing market run up using cash out refi helocs and other fancy low interest stuff they have "cash" to invest somewhere else on something else
Sounds like a great idea have had people smarter than me advise me to do the same thing
No thanks don't need to be holding the bag with my pants around my ankles next year
2008 can't happen again? Same thing different product we being sold this time
Get ready if you played that game get out before its too late much safer to have 20k in cash stashed in all different places right now than playing investor property tycoon w helocs
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Agree about inflation. That’s how you solve the debt.Quote:
Originally Posted by Summer
Been thinking that for a few decades now.
But you can’t hike rates too much. Or the debt can’t be serviced
I’m not afraid of rates. It’s a nut punch. But it won’t go crazy high until it’s time to bankrupt the dollar.
At which point we are all fucked.
I'm always blown away how much Cali RE goes for. Somehow got on a Redfin chain for SoCal RE, and this gem came up. Even looking at the past sales history on this home is impressive.
https://www.redfin.com/CA/Pacific-Pa...9uX251bWJlcj0w
$2,160 a sq ft
Such a deal!!
I would go with option A like most have said. Where you building? Big Island? That's the only place where there's more land being created these days. (Wouldn't want to build near any of those lava paths though!)Quote:
Originally Posted by carpathian
Always interesting to see what costs are to build in other states. I was out way over $100k for permits, excavation and the plans before they even started to poor a slab, let alone framing. I can't imagine the cost of lumber in HA right now.
I've been in that neighborhood and and hiking trails above it are decent with spectacular views looking south and also you are really close to the ocean. If you can avoid going downtown to work and mainly stay in your hood (avoiding the interstate gridlock) this is LA living at it's best. And there are so many fucking rich people around LA that could afford this.Quote:
Originally Posted by Toadman
So yeah it's a lot per square feet for dipshits like Core Shot to comment on without thinking of the why, and maybe it's actually only worth $2.5 or $3 mill I wouldn't know, but the quiet easy relaxed LA lifestyle of this neighborhood is what everyone wants down there. It's like buying a small apartment in NYC in a good location - outrageously expensive, sure, but it ain't Jersey and bonus you have a small yard, the ocean and a trail system real close.
If you can afford the lifestyle that’s a great house and location.
Yeah, but you could a 10 bed/six bath mcMansion in the exurbs of Indianapolis for that!Quote:
Originally Posted by 4matic
No beach but a country club. I like CC of Indy and Meridian CC. Pacific Palisades CC is just ok..Quote:
Originally Posted by Supermoon
I'm down on south end of Kona District, Captain Cook area. We near 1925 and 1919 lava flows not the newer stuff , but geologically speaking...Quote:
Originally Posted by Toadman
2x4 $10
2x6 $13
1/2" ply $55
3/4" ply $105
5/8" T111 $150
Ten dollah per stud
Dayuuum
Ah, but you are a couple blocks from Will Rodgers Park, the backbone, and a whole world of Santa Ana's fun MTN BIKE action! Thats worth $3M+Quote:
Originally Posted by Toadman
That makes sense. I had a former co-worker who bought something similar back in the 70's in Orange County. Nice suburb in Orange county not too far from Newport. Close to LGB. I bet that house would go for over $3 million now. Nice retirement nest egg if you ever need to pull the plug. It explains a lot of the all cash offers I see from Cali folks moving up to Central Oregon.Quote:
Originally Posted by muted reborn
The craziest story for me is someone from North San Diego who sold her place for a few million that she bought back in 2000. Bought a condo, all cash in a gated golf community, and decided that wasn't the lifestyle she wanted after just 12 months. Sells that condo for $100k more than she paid for it, drops a million for a semi-custom home, and then decides to sell that after 2 years because the city of Bend decided to build 100 homes on 20 acres behind her house. Makes about $400k in capital gains, and builds another full custom home in another gated community w/o the threat of any more crazy developments going in, because there's no developable land in that community. It's like no big deal to just buy and sell in this market and keep making bank. Nuts!
the great social mobility of america
have you looked at other real estate in pacific palisades? Multiple 8-figure listings. There’s a $5.5 million 5 bed two blocks away. Pacific Palisades is megapolis trophy zip codeQuote:
Originally Posted by Toadman
There’s a really good taco place near you, that’s gotta be worth a bunch!Quote:
Originally Posted by carpathian
Drove through there once. Ended up watching Penn and Teller drive by doing some skit with a car loaded on a trailer. Definitely a nice 'hood. No desire to live there though even if I could afford to.Quote:
Originally Posted by dunfree