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Thread: Real Estate Crash thread
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08-23-2021, 05:04 PM #17626
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08-23-2021, 05:17 PM #17627Registered User
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We did, but i also literally design drainage and grading for a living, enjoy digging trail in my spare time and the only reason we could afford the house was because it was painted pink and had a mudpit backyard haha. I guess im thinking of it like a house that "needs" a couple new bathrooms or a kitchen remodel. We didnt want to buy a house that was ready to go because we couldnt afford one of those in an area we wanted to live... we wanted to buy a mild fixer in the nicest neighborhood possible.
That said, another house we put an offer in on advertised "mature gardens" and had a great garden and landscaped side yard. 3 months later and the new owner had razed it all to the ground and started over. So, what do i know?
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08-23-2021, 05:44 PM #17628
Still living in the old hood at the gf house. New hood still has low inventory and some nice listings are sitting more than a week. Move in to new house next week. There is a comp for sale a few blocks away from the new house that will give me good short term beta. I’m more confident in my downside risk at 20% now.
In the new hood pools were given a 10% premium a couple months ago. That appears to be slowing too. I want a pool but I hear there’s quite a premium for construction now. It can wait.
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08-23-2021, 07:17 PM #17629
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08-23-2021, 07:25 PM #17630
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08-23-2021, 09:29 PM #17631
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08-23-2021, 09:43 PM #17632Registered User
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08-23-2021, 10:23 PM #17633
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08-23-2021, 10:33 PM #17634
Real Estate Crash thread
I agree but in 97562 that changed with people moving from the bay. This house went for $230k over ask and it wasn’t that nice. Largely because it has a new (very small) pool.
https://www.compass.com/listing/5073...6200381486097/
This one went $175k over ask in may.
https://www.zillow.com/homedetails/3...ource=txtshare
Here’s the same house nicer in some ways with pool that went for $250k less in March. That’s how much the market changed in 60 days.
https://www.zillow.com/homedetails/3...ource=txtshare
Also shows how f’d up zestimates are.
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08-23-2021, 10:58 PM #17635
Our Zestimate is about 1/2 what our house is worth, based on 4 recent comps within a 10 house radius. And we have the nicest house. Bunch a bullshit. But it does say that the average rent in Jackson for a house like ours is $12,500 a month.
We live in a (gussied up) Boise Cascade Prefab.
Yeesh.
(We don’t really want to update the Zestimate, what’s the point.)Forum Cross Pollinator, gratuitously strident
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08-24-2021, 07:15 AM #17636
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08-24-2021, 07:18 AM #17637
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08-24-2021, 07:24 AM #17638
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08-24-2021, 07:44 AM #17639I drink it up
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08-24-2021, 08:03 AM #17640
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08-24-2021, 08:07 AM #17641
Yards and gardens rarely add or detract value because they, outside of the strong back needed, can be made to look good for very little money.
Unless it’s a hoarders scrap heap everyone looks at a yard and says I can fix that up no problem and then focuses on what matters like location and size of the house in question.
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08-24-2021, 09:01 AM #17642
First world rich people problems.
https://www.yahoo.com/news/money-man...073937959.html
For months, residents of a tiny community in Central Idaho were at war with a rich neighbor, who was landing private planes and a chopper on his property inside federally regulated land. They organized, they wrote angry letters, and they gave themselves a name, Friends of the SNRA, or Sawtooth National Recreation Area."We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch
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08-24-2021, 09:24 AM #17643
And more first world rich people problems.
https://www.npr.org/sections/money/2...o-corporationsForum Cross Pollinator, gratuitously strident
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08-24-2021, 09:26 AM #17644
Fuck zestimates.
Now no matter what price you list at, that’s the zestimate.
$800 k house all day long. Zestimate now matches the $1.4 asking.
Which is embarrassing after the $300k price reduction.
They must have been sued in the past few years. That zestimate spike never used to happen.
Pools are minimum $75k here. And six figures once you do the bluestone patio etc.. . .
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08-24-2021, 09:48 AM #17645Registered User
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I think Zillow is trying to invest in and cause a run up in the market. They are like the Uber of real estate. They can watch the market crash and not take much of a hit because they don't actually employ anyone. The more they can cause price inflation and keep flipping the better for them. Hence the Zestimates always seeming just a little higher. If they can convince you of scarcity they will. See vice article a few pages back.
Zestimates sounds like a spice tho doesn't it?
Sent from my 5007Z using Tapatalk
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08-24-2021, 09:50 AM #17646
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08-24-2021, 10:05 AM #17647Registered User
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https://www.redfin.com/WA/Bellingham.../home/15820681
$700k for a so-so house next to the railroad tracks with a view of the port of Bellingham. I'm ready for the RE bubble to pop any time now.
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08-24-2021, 11:22 AM #17648
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08-24-2021, 11:38 AM #17649
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08-24-2021, 11:56 AM #17650
From Seattle north, the train tracks go right along the water. Same thing in most of Tacoma. So if you want to live near the water, you are going to live near train tracks. Some of the most expensive real estate in Tacoma is right next to a train track.
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