Results 13,676 to 13,700 of 26884
Thread: Real Estate Crash thread
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05-06-2021, 09:35 AM #13676
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05-06-2021, 09:40 AM #13677
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05-06-2021, 09:55 AM #13678
Yeah, no way that house is even worth half that price. Plus, a lot of the views on South Hill are slowly disappearing due to trees that can't or won't be cut down or even trimmed. And as you and JohnB know, it's a nice hood, but peppered with college kid rentals.
The newer nice view homes are all up on the hill above Samish now. I walked through this one at the agents only open right after it was completed, and even in this market, I don't think it's worth 4 mil. And aside from having to drive everywhere, it's way better.
https://www.zillow.com/homedetails/4...19194653_zpid/
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05-06-2021, 10:11 AM #13679
Sweet house....thanks for the share. I eye-balled Samish Way area on zillow for a while, but have never driven up there and was unaware of those big lots back there. Will have to keep my eyes open for a "used" house up there! But for that Money I'd prefer fairhaven with a remodel.
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05-06-2021, 10:11 AM #13680Registered User
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05-06-2021, 10:27 AM #13681
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05-06-2021, 10:43 AM #13682
They're all new (ish) because there didn't used to be any roads above 40th. As far as I know there's still developable land up there as well, but I don't know that the views would be.
Aside from not being able to afford to live up there, it's not for me either. Too much driving.
I've walked through a lot of those houses, and they're hit/miss architecturally because many of them were built on spec. Some of the floor plans are strange too, in an attempt to get a view from every window.
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05-06-2021, 11:33 AM #13683
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05-06-2021, 06:18 PM #13684
IIRC it wasn't too bad, but that was a few years ago now. It's a little more than a half mile east of the freeway, and 600 feet higher.
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05-06-2021, 07:12 PM #13685Registered User
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I can't imagine there's much freeway noise up there. I have a buddy who lives below that (near Padden off of Governor) and I've never noticed anything.
While I love those views, give me a decent little house in the Lettered Streets and let me ride my bike a few minutes to go catch sunset on the bay.
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05-06-2021, 07:31 PM #13686
100%
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05-06-2021, 09:47 PM #13687
The dentist in my neighborhood has an offer on his house he listed for $800 something. He had it on the market for several months last year for $600 something.
The home value tracker crap a local agent keeps sending me says my house is now $400k which Is way overvalued for its size. My agent cousin said if the offers she writes aren’t well over asking, covering all closing fees, and contingent-free they are not getting accepted.
The bubble grows."Let's be careful out there."
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05-07-2021, 03:44 AM #13688
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05-07-2021, 05:58 AM #13689Banned
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Prices here are high, and homes are moving briskly (many spend less than 2 weeks on the market before they're under contract), but beyond that, none of the other craziness you mentioned is happening in this area.
I don't see many indicators that this is a bubble around here. Egregiously overpriced places still sit on the market until the price drops or a sucker comes along, and places that are desirable are commanding top dollar, but not 10-20% over asking, more like 97-100% of list.
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05-07-2021, 07:26 AM #13690
Could be a boom for sure. A lot of folks are bullish and believe that it isn’t a bubble. Maybe it is an overall boom with smaller more regional bubbles? Maybe it is the bigger shifts in demographics and demand will remain high? If that’s the case I hope the new buyers are (as many predict) are bringing their jobs and income with them, because even dentistry in my town hasn’t historically been able to afford homes pushing the $1mill envelope.
"Let's be careful out there."
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05-07-2021, 07:43 AM #13691
Point Richmond is a cool area. Very good access to Marin and Point Reyes.
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05-07-2021, 08:04 AM #13692
Neighbor is building a guest house. GC'ing himself. Got bids in December for everything. Every sub is now coming to him and saying the price is 50% more or they can't do it anymore.
He told me he is saying yes regardless. His 800ish sq ft guesthouse is going to cost well over my mortgage. Craziness continues.Live Free or Die
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05-07-2021, 08:14 AM #13693
What sucks even more is that a huge part of that is simply due to skyrocketing material costs. I do damn near everything myself so even with zero labor costs, construction costs are getting stupid. Was trying to replace a window and back door. Have NOT been able to get a new window for the life of me as everything's super back ordered, and so I thought I'd be all slick and just knock out the whole area and put in some French doors. Well, now that costs on everything's gone up those have pushed beyond what I can afford, and so it was back to the drawing board. Skipped replacing the window for now and put in the cheapest exterior door I could find just to do the trick for now. Old door was rotted out completely and falling off the hinges so couldn't put it off any longer. The door I bought was like $150 last year. Now it was about $300 and I was only able to find like one in town. And it's a POS. Sunnuva!!!
So yeah. Even if GC'ing yourself or doing the work your freaking self, building SUCKS right now. I'm holding off on everything else til things calm down. Wife and I have even considered selling everything and moving to some family land and building our own little ideal cheap home. I said absolutely not until construction costs come back down to earth and contractors (and materials) aren't backed up for ages, so we're sitting tight. So yeah, we're gonna be sitting tight for a while. I feel like a LOT of people are.
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05-07-2021, 08:16 AM #13694Banned
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If "A LOT" of people were sitting tight, materials wouldn't cost what they do right now. At the moment, there are more people out there like Adiron's neighbor than you.
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05-07-2021, 08:36 AM #13695
If more people weren't sitting tight though, then there would be more inventory. Yes, a lot of people are building, but there are also material shortages across the board to begin with. It's not one thing or the other these days. There are a huge multitude of factors with the silliness going on.
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05-07-2021, 09:08 AM #13696
Can Benny change the thread title to Real Estate to the Moon? I was talking to a nice young couple yesterday that are moving down to Imperial Beach. Just bought their first home. A 1400 sq ft fixer built in 1950 for $700k, in fucking IB
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05-07-2021, 09:34 AM #13697
On the beach? That’s not too bad if so. I sold my house in Fremont in 2003 for $479k in an ok neighborhood. Only 1300 sf
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05-07-2021, 09:42 AM #13698
Truth.
The plan last fall was neighbor and I would both be building guest houses and trying to work deals. I bailed on this plan a while ago but neighbor is still full speed ahead, despite me telling him (and I work in finance for construction) that stuff was too expensive and hard to find. Another friend breaks ground on Monday on a million dollar build (going to be at least 1.5 by the time he, well mainly his wife, get what they want). Full on gangbusters build it all and not blink an eye.
I'm the only person I know that had plans to build and was like, maybe this isn't the right time? Well and you Austin. Stick to your guns, the housing market might have legs but the materials prices don't. Trees grow literally every day.Live Free or Die
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05-07-2021, 09:53 AM #13699Registered User
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Have a buddy who is a GC. Him and his wife bought a big lot up there 3-4 years back and they have been building it ever since in their free time and as their equipment and laborers become free for a bit. Incredible views, sick custom house, private trail leading down to Galby. Not bad.
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05-07-2021, 09:54 AM #13700
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