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Thread: Real Estate Crash thread
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01-10-2022, 06:12 PM #19326
This is an interesting Twitter thread. Basically, if you expect things to slow down, you might be waiting for a bit. Loans are still high quality and homes just aren’t being built fast enough.
https://mobile.twitter.com/modestpro...46234117451779
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01-10-2022, 06:20 PM #19327
I just can't comprehend some of the nightly rates I've seen just doing a random search in February for lodging. I mean there are some very swanky hotels in Aspen, and most are 4 figure sums per night. I mean we are talking some serious higher rollers that can drop $7 grand on a one bdrm suite in Aspen. Even Snowmass has gotten into the high roller game with $500-$800/night lodging.
But it does seem like Aspen Snowmass realized that if they didn't do something about housing for its employees, they would not be able to open for business."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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01-10-2022, 06:58 PM #19328
The assessment went up. Still need to see what the actual taxation will come out at. Like you alluded to, just because the assessments went up across the board doesn't justify the same increase in the actual property tax.
But I wouldn't hold my breath that before the new rates come out, local council doesn't vote to increase their own compensation
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01-11-2022, 11:14 AM #19329one of those sickos
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01-11-2022, 12:02 PM #19330
That would ruin the 'soul of the town'
But oh my god have you heard about this housing crisis? Someone has to DO something. *votes down apartment building proposal* "it just doesn't fit in here"
What really gets me going about this whole 'housing crisis' is it has been created almost entirely at the local level. My town has been making noise about this issue for a year or so now (were often late to the game).
Someone just put a proposal together to build some type of affordable housing (NOT a project style thing tiny home type things) in an unused piece of land near a hospital. It got STRONGLY voted down. People came out afterwards filled with joy that it got crushed. It was a really good proposal on a site that won't be able to fit anything else in a spot close to town, now what will it do, sit?
And then everyone will pay for the city to put together studies as to why there is no housing.Last edited by Yukonrider; 01-11-2022 at 12:27 PM.
The whole human race is de evolving; it is due to birth control, smart people use birth control, and stupid people keep pooping out more stupid babies.
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01-11-2022, 12:48 PM #19331
It's a different reality... On top of a single room, someone's spending $1000+ pp for a flight here, $1000pp per day for lift ticket+rentals+group lesson (private is $945 pp), food+drink+shopping another $500pp per day. Easy for a "standard" hotel-staying family of four to swipe through $30k to stay in a room, ski four days, eat out and shop a bit.
Yeah, it's a solution of sorts but still kinda chuckle-worthy in the larger scope. But the nimby-ism is pretty extreme here, no surprise.
They just built a building 20mi downvalley, adding 150 beds - https://www.aspentimes.com/news/maki...sing-shortage/
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01-11-2022, 12:48 PM #19332And then everyone will pay for the city to put together studies as to why there is no housing.
One of the biggest villains in the area (Cross Harbor) is building a shit ton of housing. Why? Because they can't get enough employees otherwise.I have been in this State for 30 years and I am willing to admit that I am part of the problem.
"Happiest years of my life were earning < $8.00 and hour, collecting unemployment every spring and fall, no car, no debt and no responsibilities. 1984-1990 Park City UT"
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01-11-2022, 02:16 PM #19333
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01-11-2022, 03:50 PM #19334
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01-13-2022, 04:47 PM #19335Registered User
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3 bedroom Rambler in the Happy Valley Neighborhood. This home borders the Happy Valley Park to the back of the property and west side. Large 12,400 sf flat lot with an open back yard. This home has solid bones and is in need of some well deserved cosmetic TLC.
If "cosmetic TLC" means "nuke it from space and behead the remains" then I agree.
https://www.redfin.com/WA/Bellingham.../home/15835947
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01-13-2022, 04:54 PM #19336
I find the balls of the listers including these pics impressive
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01-13-2022, 04:59 PM #19337Registered User
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01-13-2022, 05:02 PM #19338
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01-13-2022, 05:43 PM #19339Registered User
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01-13-2022, 06:10 PM #19340
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01-13-2022, 06:37 PM #19341
Even if you rehab it, who’d buy it when you can see that shit before hand? There’s a place near me that’d been lesser inhabited for years and sold in the fall, listing had 4 pictures, none of them decent interior shots, they’ve had crews for months, a flatbed full of lumber. Etc etc. full redo. that’s the way to market . Gonna list for >$2 million
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01-13-2022, 07:06 PM #19342Registered User
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It’s a nice lot, that backs up to a park.
But there’s a trailer park and what I would assume is Section 8 housing right across the trail.
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01-13-2022, 07:12 PM #19343Registered User
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01-13-2022, 07:35 PM #19344
That place isn't too bad looking needs a new roof, but most of the other stuff LOOKS cosmetic. Floors, paint, a few small drywall repairs.
Oh, and get it meth tested first...The whole human race is de evolving; it is due to birth control, smart people use birth control, and stupid people keep pooping out more stupid babies.
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01-18-2022, 11:04 AM #19345
Was just on a zoom call with a broker from Bellevue. An agent in her office had a listing last week with 33 offers that went for 800k over asking. The insanity continues.
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01-18-2022, 11:13 AM #19346Registered User
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01-18-2022, 11:46 AM #19347
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01-18-2022, 11:49 AM #19348
Parents just made an offer on a 1980's split level 3k sq. foot house with .5 acre lot in Lakewood, CO. Asking was $750k. It had 34 offers, but there's is all cash and gave the widow owner a quick closing assuming nothing major found on the home inspection. I don't know what their final offer price was but believe it was at least $50k over asking. Most likely their RE agent made that recommendation based on what's going on in that 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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01-18-2022, 11:56 AM #19349
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01-18-2022, 12:10 PM #19350Registered User
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