Real Estate Crash thread

[skaredshtles]

No kidding, my uncle moved out there for affordability and got two or three times the house he could have bought in Oregon.

And there are a whole *host* of very good reasons for that.

[dan_pdx]

And there are a whole *host* of very good reasons for that.

Amen to that, he really didn't want to go out there, and it doesn't sound like he's very happy, but his new wife is from Memphis and they straight up couldn't afford to stay in Oregon. My uncle and my dad grew up in Memphis, and I've visited a bunch of times (including Graceland haha). As they say, it's a fine place to visit, but I wouldn't want to live there

[Danno]

Which is fine, if you never leave the house.

and don't care about what rights you and your family have.

[Bunion 2020]

Amen to that, he really didn't want to go out there, and it doesn't sound like he's very happy, but his new wife is from Memphis and they straight up couldn't afford to stay in Oregon. My uncle and my dad grew up in Memphis, and I've visited a bunch of times (including Graceland haha). As they say, it's a fine place to visit, but I wouldn't want to live there

I lived there from when I was about 8 until 13 1966-70. Local relatives were assholes, got shit on for being a Yankee (born in NC????). From what I recall, not moving back anytime. Lived near enough to Graceland that we used to climb over the 12' fence and wander the grounds until security would chase us off, still have a scar from that fence. Saw the King a couple of times driving around town.

[neckdeep]

Tennessee: southern gentility masking an abnormally violent state that usually ranks top 5 in murder, rape and aggravated assault. Seriously folks, despite its friendly public image, the real Tennessee is a place where you always lock your doors at night and everyone genuinely believes they need to have a gun to defend their house.

[byates1]

sounds adventure

[Name Redacted]

Tennessee: southern gentility masking an abnormally violent state that usually ranks top 5 in murder, rape and aggravated assault. Seriously folks, despite its friendly public image, the real Tennessee is a place where you always lock your doors at night and everyone genuinely believes they need to have a gun to defend their house.

I feel like thats true for some locations but not others. Same goes for most of the south. Either way, I sure as hell aint moving (back) there.

[Buster Highmen]

But what is she going to buy? The equity is nice but where to buy for less?

I have no idea. I've never had a neighbor so closed off and weird. I told her about trees on our property line, leaning towards her automatic gate, coordinated with her and another neighbor to get the trees cut down. Within a week she has listed her house without a word.

It's pretty nice here, quiet, remote. Nothing within walking distance, but great biking and wildlife. In the last 10 years it's gotten noticeably hotter and drier, but it's still relatively cool most of the time.

[Whiteroom_Guardian]

I have a client who sold their house in MT and is slowly in the process of moving to TN. Honestly can't image it. I mean I get it from a $ standpoint and there are some pretty places in TN, but damn it's also kinda hood and scary.

[Foggy_Goggles]

All stereotypes are my definition false.

That said, I also know quite a few people from Grand County that have "cashed out" and moved to TN. Part of the allure is that they people enjoy their perceived status, power and so on. They tend to be the same people that resist and resent the percieved changes to the mountain west over the last three decade.

They are looking for a chasing a reset where there generally older whiteness puts them a few rungs higher on the social ladder.

[Mazderati]

Also no income tax.

[Meadow Skipper]

Some time ago, my mom made a surprise move from Newport Beach CA to EBF Missouri, cost of housing and living in general was the (stated) reason. It mystified me and my brothers, but very soon after the move she was diagnosed with dementia.

Just sayin’

[californiagrown]

All stereotypes are my definition false.

That said, I also know quite a few people from Grand County that have "cashed out" and moved to TN. Part of the allure is that they people enjoy their perceived status, power and so on. They tend to be the same people that resist and resent the percieved changes to the mountain west over the last three decade.

They are looking for a chasing a reset where there generally older whiteness puts them a few rungs higher on the social ladder.

Pretty similar to the folks moving from California to Idaho, or Texas. They cash out their beatup 4bd 2bath from 1988 for 1.5million, can buy a nice new-build on an acre or two for half that, and then can live high on the hog and enjoy feeling rich with status. Its small/medium fish wanting to move out of their big pond so they can be the big fish in a new small pond.

High COLA are only worth it if you utilize and appreciate the reasons for the high COLA- typically culture (art, food, live entertainment), weather, and recreation access. If all you really want to do is eat at chain restaurants, play golf, bass fish, and watch college football in a air conditioned new-build then there is no good reason to live in a high COLA area. Nothing wrong with that, just not for me. Yet.

[XXX-er]

my socialist ski bud who rode a recumbent down the eastern seaboard to Tierra del fuego told me " as soon as we got across the mexican border i felt safe "

[4matic]

Got this from my Redfin agent:

I wanted to give you a quick update on what these changes could mean for you:

For Sellers:
Starting August 17, the buyer's agent fee will no longer be allowed to be shown on most MLSs. This means that buyer's agent compensation will likely become part of the offer negotiation more often.
Sellers can still choose to offer compensation to buyers' agents as part of their marketing strategy, outside of the MLS.
Buyers might ask you to cover their agent's fee in their offer, and you can negotiate from there.

For Buyers:
Buyers will agree to their agent's fee before touring any homes. These agreements will also make it clear that agent compensation is negotiable.

[fastfred]

Pretty similar to the folks moving from California to Idaho, or Texas. They cash out their beatup 4bd 2bath from 1988 for 1.5million, can buy a nice new-build on an acre or two for half that, and then can live high on the hog and enjoy feeling rich with status. Its small/medium fish wanting to move out of their big pond so they can be the big fish in a new small pond.

High COLA are only worth it if you utilize and appreciate the reasons for the high COLA- typically culture (art, food, live entertainment), weather, and recreation access. If all you really want to do is eat at chain restaurants, play golf, bass fish, and watch college football in a air conditioned new-build then there is no good reason to live in a high COLA area. Nothing wrong with that, just not for me. Yet.

perfect
honestly I see the burn out leave factor all the time there are lots of reasons for it
the number of people who want to eat at chain restaurants golf fish watch hours and hours of sports and get upset when the ac clunks out and they have to open a window and maybe be hot blows my mind

the number of people dumping thousands and thousands of dollars into outdoor living space and air conditioning in a home at 10,000 ft proves we are fucked

[Foggy_Goggles]

Doesn't Summit County have chain stores? I mean I know there is a Target and Lows in Trailerthorne. Its basically the Kremmling Mall.

Yeah, outdoor TVs, fireplaces and heaters on the North Facing deck. It's be College Football Season and they'll have the six panel stacking slider open, fireplaces and heat blasting, sweaters on, EVs in the driveway. I had one customer where the husband wasn't even interested in visiting the property until the TVs were hooked up playing the Golf Channel.

We've been talking the the salesmen (lumber, doors and windows, cabinetry, flooring and so on) talk about things slowing down the established local contractor say busy as ever. We think the shit bags on the margin and going back where they can from because the easy money is up.

[Name Redacted]

Doesn't Summit County have chain stores? I mean I know there is a Target and Lows in Trailerthorne. Its basically the Kremmling Mall.

Yeah, outdoor TVs, fireplaces and heaters on the North Facing deck. It's be College Football Season and they'll have the six panel stacking slider open, fireplaces and heat blasting, sweaters on, EVs in the driveway. I had one customer where the husband wasn't even interested in visiting the property until the TVs were hooked up playing the Golf Channel.

We've been talking the the salesmen (lumber, doors and windows, cabinetry, flooring and so on) talk about things slowing down the established local contractor say busy as ever. We think the shit bags on the margin and going back where they can from because the easy money is up.

Dude, you are behind the times. It has now been christened "CondoThorne". All the trailers are gone, those are in Breck ironically.

[Foggy_Goggles]

Yeah, but you can still get the lunch special at La Perla and head W on 70. Which has been the primary purpose Slummit has served for 30years.

Hungry Ute>La Perla

Normal Trough>70

[Foggy_Goggles]

https://www.steamboatpilot.com/opini...rings-anymore/ (open incognito if you hit a paywall/data mine)

This is the fabricated class war @fastfred talks about. The ski town papers are full of these raging mic drop don't let the door hit you in the ass letters.

Bro, you may not want to be replaced, but you are replaceable. Lived in 7 states guy with his 4 year roots!

Generally speaking, the Ski Resorts actually put there money where there mouth is and building (or subsidise) housing for their employees. The same can't be said for The School Districts, Local Municipalities, Locally Owned Business and so on. They just deploy to struggling workers to do their dirty work. And we get Housing Programs to keep it all on life support paid for by....the pot of gold at the end of the rainbow?

[AdironRider]

Bet dollars to donuts he also rants at social events about how there is no way he could live Hayden, or god forbid, Craig.

[Foggy_Goggles]

Bro...we don't talk about commuting um kay? I haven't looked lately but I don't think Hayden, Oak Creek etc. are cheap?

Homeboys reality isn't exactly wrong but seems a bit unaware of the revolving door of lowish wage residents.

Sent from a 6 m/s face melting thermal

[fastfred]

Bet dollars to donuts he also rants at social events about how there is no way he could live Hayden, or god forbid, Craig.

the fryday quote of the week
spot on

[Skistack]

I hear Tennessee is affordable. They even have mountains there!

[raisingarizona13]

Tennessee is super hip right now. It's actually a really cool state.

Montana is beautiful but cold af. Most people don't like that shit.