Real Estate Crash thread

**fastfred** · 06-03-2021, 10:11 AM

having grown up in a college town
bounced around a bit
then been living in a ski town for the majoirty of my life

moving and living in kansas texas or any other place for that matter would sound like complete hell and misery
some people are ok with that and that's cool
sure I could go upstate and buy a 60k house on a couple acres but it's upstate

I don't know how to function outside of a resort town it's a place you love to hate

**liv2ski** · 06-03-2021, 12:44 PM

Originally Posted by fastfred

I don't know how to function outside of a resort town it's a place you love to hate

I took me about 35 years of living here to no longer hate it. I guess I have accepted the grass is always greener and it could be a hell of a lot worse, so to count my blessings. Age, it does weird shit to you.

**goldenboy** · 06-03-2021, 03:09 PM

FYI, I'm not the dirt pimp (TM) that snaked Telee on his dream property

**teleee** · 06-03-2021, 03:24 PM

Originally Posted by goldenboy

FYI, I'm not the dirt pimp (TM) that snaked Telee on his dream property

Indeed you are not. I should have clarified - this all went down in Idaho. If you would have been here this may have went down differently.

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**Deebased** · 06-03-2021, 03:34 PM

Originally Posted by Name Redacted

I spent 8 months in Wichita for work. It felt like a decade. Tried really hard to find any redeeming qualities in that place. There were none. The only time in my life that quit drinking and went to the gym everyday. Fucking miserable.

yeah Wichita sucks but quitting drinking and working out everyday is pretty fucking awesome.... BTW, ever been to LA? Not the beaches but the seemingly endless expanse of concrete and misery that stretches all the way out to Redlands.

**Toadman** · 06-03-2021, 04:08 PM

Originally Posted by dunfree

pre-covid >10% of the workforce in Stockton were super commuters, nobody had free time to care.

I knew people who worked in Manhattan that lived in Princeton/Plainsboro or slightly South of there. Train commute and then subway, then walk to the office. I mean, sure you are on a train and can get some work done or whatever. But seriously, unless you are making a stupid high six figure or 7 digits with the YE bonus, what's the point? So you can sleep in a nice house that you only see on the weekends? That's no way to go through life.

**schuss** · 06-03-2021, 05:06 PM

Originally Posted by Toadman

I knew people who worked in Manhattan that lived in Princeton/Plainsboro or slightly South of there. Train commute and then subway, then walk to the office. I mean, sure you are on a train and can get some work done or whatever. But seriously, unless you are making a stupid high six figure or 7 digits with the YE bonus, what's the point? So you can sleep in a nice house that you only see on the weekends? That's no way to go through life.

I've known a few in this position - it's usually either "I have a few years left till retirement, so I'm just doing this until then or until they lay me off" or "fuck city life, my kids should have something better so I'm falling on this sword as jobs are shit here"

**fastfred** · 06-03-2021, 05:55 PM

Originally Posted by Toadman

I knew people who worked in Manhattan that lived in Princeton/Plainsboro or slightly South of there. Train commute and then subway, then walk to the office. I mean, sure you are on a train and can get some work done or whatever. But seriously, unless you are making a stupid high six figure or 7 digits with the YE bonus, what's the point? So you can sleep in a nice house that you only see on the weekends? That's no way to go through life.

I've got some employees that are driving 50-60 miles a day each way
I don't get it but they have their reasons

**californiagrown** · 06-03-2021, 06:18 PM

Originally Posted by fastfred

I've got some employees that are driving 50-60 miles a day each way
I don't get it but they have their reasons

In the seattle area, multiple superintendents on large projects ive worked on live over snoqualmie pass. They drive in 60 miles each day, and the GC pays for a small studio unit locally for the times during the winter when the pass shuts down so they can stay the night. People will do crazy commutes just to have a larger house and property. They lose sooooo much life to commuting, no way is that worth it. And yeah, your kids might have nicer material things, but they wont have a dad 5 days out of the week. fuck that.

**dunfree** · 06-03-2021, 06:29 PM

My experience was technicians esp. senior techs, and in CA it was a choice between buy a house or live in an unstable rental market that might kick you out sooner rather than later. Also firefighters, nurses, teachers, any of thestable employment but not tech $$$ jobs.

**VTeton** · 06-03-2021, 07:21 PM

Originally Posted by concretejungle

My ex went to high school south of KC. She lamented the difference in housing costs every time we visited her friends but was at least smart enough to know why and gtfo. A truly awful place.

I'm investing in real estate in Kansas. Haven't been out there yet......

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**Flyoverland Captive** · 06-03-2021, 09:25 PM

Anyone know a good lawyer for renter disputes in Phoenix, PM me.

**ötzi** · 06-03-2021, 09:33 PM

The man trying to kick you out?

**Flyoverland Captive** · 06-03-2021, 09:40 PM

Nope, just some shitty management company fucking with some friends.

**Benny Profane** · 06-04-2021, 04:56 AM

Originally Posted by liv2ski

I would be pretty sad if life dropped me off to live in Kansas

Lawrence seems ok. Hey, William Burroughs wound up there.

**Toadman** · 06-05-2021, 09:24 PM

Damn, pays to read the fine print on those new construction home contracts.

https://www.yahoo.com/news/fort-wort...213853592.html

After canceling Ostrowski’s contract, the builder then promptly put the home in the 1400 block of Silent Springs Drive back on the market. But this time, the sales price was listed at $526,900, a whopping $110,275 higher than the original price of $416,625 the Ostrowskis had agreed to pay.

Several people with experience in real estate legal matters said prospective home buyers should watch carefully for language that tilts the contract in favor of the builder.

Rusty Adams, an attorney with the Texas Real Estate Research Center at Texas A&M University, said its “not uncommon” for builders to include a termination for convenience clause in contracts with buyers of newly built homes.

Others said they were surprised to learn about the existence of such a clause, and warned prospective buyers against signing such agreements.

**ötzi** · 06-05-2021, 09:33 PM

There should be a checklist for home buyers, especially first-timers, and that ^^^ should be on it. That could really mess you up.

**Benny Profane** · 06-06-2021, 08:04 AM

Wow, I found the best investment out there in RE. Seriously. It's like the situation in Florida and Nevada in 2009. They were giving them away back then, too. In ten years, Trump will be dead, and those buildings will be rebranded.

https://www.marketwatch.com/story/th...-s-01622822422

**54-46** · 06-06-2021, 09:15 AM

Originally Posted by Benny Profane

Wow, I found the best investment out there in RE. Seriously. It's like the situation in Florida and Nevada in 2009. They were giving them away back then, too. In ten years, Trump will be dead, and those buildings will be rebranded.

https://www.marketwatch.com/story/th...-s-01622822422

Yeah, but will you ever be able to say you’re a local if you buy one?

**skinny_kid** · 06-06-2021, 04:49 PM

Moved into new construction in September of 2020, under contract since May 2020. Suburb of RDU. Decided to move closer to work and put the place on the market this week.

Signed an offer yesterday. 110k over purchase price. 48k over asking. 35k due diligence that closes on Monday. Get to stay in it for 10 days after closing for free.

I wouldn’t purchase this place for the price offered. It’s “nice” and a good home. But it’s crazy out there. I guess the buyers had missed out on a few different offers and were tired of losing.

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**liv2ski** · 06-06-2021, 05:07 PM

Everything is expensive these days. Not real sure if and when things may get back to normal or even a little in the toilet would be a nice change. Are you two going to rent or buy right away sk?

**skinny_kid** · 06-06-2021, 06:39 PM

Originally Posted by liv2ski

Everything is expensive these days. Not real sure if and when things may get back to normal or even a little in the toilet would be a nice change. Are you two going to rent or buy right away sk?

We are under contract for a place we really like. Big departure from our new construction open concept in a packed neighborhood. It didn’t show well online from our perspective and wouldn’t fit the bill for a lot of people so we were able to offer under asking price with some nice items conveying (pool table, some furniture that fits perfectly).

Though we are purchasing in this crazy market I think we came out ahead with the sale of our current place.

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