Real Estate Crash thread

[liv2ski]

$400k for the land seems like a fair price. Haul away the old, build new and you're golden for about $1.5M all in.

[AK47bp]

$400k for the land seems like a fair price. Haul away the old, build new and you're golden for about $1.5M all in.

Just be sure to build on stilts.




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[Ted Striker]

Three dry acres might be worth that, but wetlands setbacks and buffers might eat a ton of that area.

[snapt]

"2019 was Teton Valley’s best year for real estate since the Global Financial Crisis. Transactions grew to 586 sales (which out-paced the Jackson Hole market) and the complementing dollar volume swelled to $181M. In 2019 the median home price was $450,000.

Then came Covid, and the real estate surge that came with it. By the end of 2020, transactions had nearly doubled year-over-year to more than 1,100 sales. Dollar volume followed suit to $364M. How much more could the market grow?

During the first nine months of 2021, Teton Valley resoundingly answered that question. 2021 transactions through September showed nearly 900 sales with $450M in overall sales volume. Vacant land sales were up 70% over the first nine months of 2020 and represent 67.2% of all sales in 2021 so far. The median home price has grown to $750,000 (quite the difference from $450,000 in 2019).

If Teton Valley continues its break-neck pace for Q4, the year-end total is poised to reach $600M, or nearly triple the overall dollar volume from just two years ago."

It's wild to think that with Ms. Snapt working at St John's and in the lottery we'll have a better shot of owning a home in Jackson than TV.

[TAFKALVS]

$400k for the land seems like a fair price. Haul away the old, build new and you're golden for about $1.5M all in.

Lol, and this is exactly why real estate prices in the West have gone stratospheric.

[The AD]

Listed at $7.4 million. This is just absurd. The setting is certainly outstanding, but the house needs work. Nearly seven and a half million for a fixer-upper?
https://www.point2homes.com/CA/Home-...T14%3A00%3A42Z

[Name Redacted]

Any mags know of a Real Estate Agent in the Moab area?

[liv2ski]

Lol, and this is exactly why real estate prices in the West have gone stratospheric.

I apologize LS, we need a sarcasm emoji.

[Benny Profane]

Lol, and this is exactly why real estate prices in the West have gone stratospheric.

I still think it's dual employed state employees from California or just single cops retiring to cheaper places with really comfortable pensions and million dollar homes sold that would be 350,000 in the Midwest.

[TAFKALVS]

I still think it's dual employed state employees from California or just single cops retiring to cheaper places with really comfortable pensions and million dollar homes sold that would be 350,000 in the Midwest.

Yes, it is caused by the Californians and New Yorkers you're doing exactly what liv2ski is "joking" about. Although based on his comments in this thread I wouldn't put it past him to do the exact same thing if his wife ever lets him move to a mountain town.

[PNWbrit]

$400K, holy shit.

3 acres. A developer is going to snap that place up.

[JimmyCarter]

Listed at $7.4 million. This is just absurd. The setting is certainly outstanding, but the house needs work. Nearly seven and a half million for a fixer-upper?
https://www.point2homes.com/CA/Home-...T14%3A00%3A42Z

$7.4 million CAD, that’s not even 6 million USD! It’s a steal!

[Benny Profane]

Yes, it is caused by the Californians and New Yorkers you're doing exactly what liv2ski is "joking" about. Although based on his comments in this thread I wouldn't put it past him to do the exact same thing if his wife ever lets him move to a mountain town.

Well, no, that's different, because he's not one half of a dual California state employee pension sucking couple.

[dan_pdx]

There it is officer, there's the house that hurt me.

https://www.redfin.com/WA/Bellingham.../home/15812749

This house is so full of WTF. We've seen some other houses in this neighborhood (Bellingham Tweed Twenties), and they were all pretty funky, like everyone in the neighborhood was raised by wolves, then came into money in their teens and decided to build a house, but this one takes the cake.

[skaredshtles]

There it is officer, there's the house that hurt me.

https://www.redfin.com/WA/Bellingham.../home/15812749

This house is so full of WTF. We've seen some other houses in this neighborhood (Bellingham Tweed Twenties), and they were all pretty funky, like everyone in the neighborhood was raised by wolves, then came into money in their teens and decided to build a house, but this one takes the cake.

[Ted Striker]

WTF indeed. Every house in TT was built in the 70s, and they all had popcorn ceilings. If you're going to put money into remodeling one, that should be job one. And torchdown? It's a fucking rain forest up there.

[zion zig zag]

That's pretty wild.

When are you moving up full time?

I'm a couple of years out at least, unfortunately.

[skaredshtles]

WTF indeed. Every house in TT was built in the 70s, and they all had popcorn ceilings. If you're going to put money into remodeling one, that should be job one. And torchdown? It's a fucking rain forrest up there.

What's wrong with leaving popcorn ceilings? :

[liv2ski]

Yes, it is caused by the Californians and New Yorkers you're doing exactly what liv2ski is "joking" about. Although based on his comments in this thread I wouldn't put it past him to do the exact same thing if his wife ever lets him move to a mountain town.

Don't worry about me LS, I have finally hit that milestone in life where I am perfectly content to stay where the winters are 70-80 degrees. And rent an Air B&B for a month each winter to get my skiing fix in. Then back to the coast where the weather rocks.

[Ted Striker]

What's wrong with leaving popcorn ceilings? :

Well, if you truly leave them alone, nothing. But not biting the bullet when you decide to re-do any of the rooms is squandering your easiest opportunity to get rid of it.

Plus popcorn + water damage = no bueno

[Benny Profane]

And then you're in a situation when, if you're going to renovate, you have to do the ceilings first.

[The AD]

A popcorn ceiling in your rumpus room is always a nice touch. And don't forget the lino floor in the kitchen and trash compactor

[dan_pdx]

Well, if you truly leave them alone, nothing. But not biting the bullet when you decide to re-do any of the rooms is squandering your easiest opportunity to get rid of it.

Plus popcorn + water damage = no bueno

We've looked at a few houses with glitter popcorn ceilings, which I think is kind of fabulous. Water damage makes it a lot less appealing though. Seems the best practice is to just cover it with 1/4" sheetrock, is that right?

[El Chupacabra]

There it is officer, there's the house that hurt me.

https://www.redfin.com/WA/Bellingham.../home/15812749

This house is so full of WTF. We've seen some other houses in this neighborhood (Bellingham Tweed Twenties), and they were all pretty funky, like everyone in the neighborhood was raised by wolves, then came into money in their teens and decided to build a house, but this one takes the cake.

Those pictures smell of damp and mold, even through my computer screen.

[skaredshtles]

Well, if you truly leave them alone, nothing. But not biting the bullet when you decide to re-do any of the rooms is squandering your easiest opportunity to get rid of it.

Get out of here with that "re-do" shit.