The Home Ownership Thread

[brokencycle]

🤷‍♂️

June and July will be more interesting. Those are the house closings that were made after rates jumped.

Anecdotally, houses in my neighborhood rarely lasted 24 hours and sold for 10-20% over asking. Now they're sitting 2-3 weeks and selling for less than list. $/sf is definitely down from the houses that were closing in April and May.

 

[RedLantern]

June and July will be more interesting. Those are the house closings that were made after rates jumped.

Anecdotally, houses in my neighborhood rarely lasted 24 hours and sold for 10-20% over asking. Now they're sitting 2-3 weeks and selling for less than list. $/sf is definitely down from the houses that were closing in April and May.

Same here, just not sitting quite as long

 

[Piobaire]

Decided to go with using the tile as baseboard. Looks good.

 

[sugarbutch]

June and July will be more interesting. Those are the house closings that were made after rates jumped.

Anecdotally, houses in my neighborhood rarely lasted 24 hours and sold for 10-20% over asking. Now they're sitting 2-3 weeks and selling for less than list. $/sf is definitely down from the houses that were closing in April and May.

Tell us you live in an undesirable area without telling us you live in an undesirable area.

 

[PhilKenSebben]

Tell us you live in an undesirable area without telling us you live in an undesirable area.

"Hi! I live in {insert any town other than Austin and realistically even Austin} Texas

 

[brokencycle]

Tell us you live in an undesirable area without telling us you live in an undesirable area.

I know. My wife and I discussed selling before people came to their senses.

Like NFTs and crypto, sometimes you need to know when to get out.

 

[SixOhNine]

"Hi! I live in {insert any town other than Austin and realistically even Austin} Texas

Why are you always so hurtful?

 

[Gibonius]

June and July will be more interesting. Those are the house closings that were made after rates jumped.

Anecdotally, houses in my neighborhood rarely lasted 24 hours and sold for 10-20% over asking. Now they're sitting 2-3 weeks and selling for less than list. $/sf is definitely down from the houses that were closing in April and May.

One of the local realtors sends out a newsletter with stats. Before May, houses were selling basically instantly, above asking.

Since then, we have some that are 60+ days on the market, and most selling below listing. Still far above their 2019 prices.

 

[Gibonius]

I know. My wife and I discussed selling before people came to their senses.

Like NFTs and crypto, sometimes you need to know when to get out.

Question with selling is always where do you move to. At least with crypto, you can move to "actual money," but you're always going to need somewhere to live.


If you're going to make any profit off it, you've got to move to somewhere less desirable. Maybe if you're ready to retire.

 

[ValidusLA]

Question with selling is always where do you move to. At least with crypto, you can move to "actual money," but you're always going to need somewhere to live.


If you're going to make any profit off it, you've got to move to somewhere less desirable. Maybe if you're ready to retire.

Ya this is the part I've always had a hard time with. Like, my house is up about 60% over 5 years. But not sure how I would really realize any of that.

If anything, when I retire in 30 years or however long, I'd prefer to go somewhere nicer, not someplace less nice.

I guess this is why people expatriate.

 

[Gibonius]

Ya this is the part I've always had a hard time with. Like, my house is up about 60% over 5 years. But not sure how I would really realize any of that.

If anything, when I retire in 30 years or however long, I'd prefer to go somewhere nicer, not someplace less nice.

I guess this is why people expatriate.

Styleforvm complex in Vietnam? I bet we can get a Waffle House franchise.

 

[ValidusLA]

Styleforvm complex in Vietnam? I bet we can get a Waffle House franchise.

Whenever someone mentions Waffle House, I get closer to never logging into this site again.

"Waffle house" and "setback" honestly get brought up so much that the phrases just make me cringe.

 

[double00]

I guess this is why people expatriate.

come on now omega's only moving to atlanta

 

[brokencycle]

Question with selling is always where do you move to. At least with crypto, you can move to "actual money," but you're always going to need somewhere to live.


If you're going to make any profit off it, you've got to move to somewhere less desirable. Maybe if you're ready to retire.

That's true, but honestly, I just want to move, so there's that. Plus, the places I'm most interested in aren't up as much as this area.

Since I moved here, the Case-Shiller index is up 62% in the RDU metro. DC is up 44%, Chicago is up 36%, so relativistically I would be coming out ahead (although maybe not -- obviously there are a lot more factors than a metro index).

The other alternative is to sell, and then rent, but that's a huge market timing gamble that I don't think is wise.

 

[brokencycle]

Ya this is the part I've always had a hard time with. Like, my house is up about 60% over 5 years. But not sure how I would really realize any of that.

If anything, when I retire in 30 years or however long, I'd prefer to go somewhere nicer, not someplace less nice.

I guess this is why people expatriate.

Moving somewhere "less desirable" isn't necessarily less nice. It depends on what you value.