Real estate General topic

[paulsharvey]

I’m at the young end of the baby boomers, I’m 61. You trying to kill me off?

Not specifically But facts are facts, if we look at 70-79 y/o; I would assume something like 10-15% of them die every year. Not trying to wish for anyone, but none of us get out of this alive.

I don't think anyone can predict the macro situation more than 5 years out.

I could easily see re-urbanization starting, or continued white flight. I dont currently see the majority rebelling against the planned HOA/development/CDD fee type neighborhoods; but maybe?

Is the current 'Homesteading' trend a fad or here to stay? Who knows. If property keeps skyrocketing, will younger people start buying in dilapidated urban areas?

Heck, will sea level raise enough that FLa becomes the Lousina Bayou?

 

[paulsharvey]

Heck, I watched a video last night about illegals going back to Mex., after realizing they lost money working here, and trying to survive here, and they actually had a better standard of living at home.

 

[paulsharvey]

Shoot, I hope that stuff doesn't come off as political, not the intent at all. Just doesn't seem possible to talk about housing supply, with out talking about population and demand; and over 10% of the current pop is immigrants.

 

[newbury]

In five years, the real estate market will collapse in the same way it always does. So save up with liquid cash and wait for it.

"They" have been saying that it's going to crash since 2019. I've been waiting.
Just Google "real estate is going to crash" with a time frame April 1, 2018 through April 1, 2020 and you get plenty of links (example).
I'm still waiting. My mattresses are full.

 

[ning]

Shoot, I hope that stuff doesn't come off as political, not the intent at all. Just doesn't seem possible to talk about housing supply, with out talking about population and demand; and over 10% of the current pop is immigrants.

My mom's an immigrant.
Came to the US in 1949.

 

[newbury]

Heck, I watched a video last night about illegals going back to Mex., after realizing they lost money working here, and trying to survive here, and they actually had a better standard of living at home.

That's just like a lot of us. I moved from rural northern Vermont where there were no jobs to the D.C. area, put in my career and am trying to bail out to Mississippi where my dollars buy a lot more of what I want (land and open space).

 

[the old grind]

I don't think anyone can predict the macro situation more than 5 years out.

And then one's own has to consider their age, resources, retirement plans, etc.

 

[drssg]

We also have more and more remote working stuff; where you might be able to work as a well-paid project manager, from remote WVa or Ark, and that affects home sales trends too.

I was thinking about that the other day. When my wife and I were looking for land, the biggest challenge was to find something that was a reasonable commute to work and reasonably priced.

At the time, land in a convenient location was going for $10-12K/acre. Go another 45 minutes away from town, and there were large tracts available for $1700/acre.

As we neared retirement, both of us were working from home. Things would be different if we had that option 25 years ago.

 

[Snobdds]

My mom's an immigrant.
Came to the US in 1949.

What an achievement.

 

[ning]

What an achievement.

Just saying, there's a lot of immigrants in this country.

 

[paulsharvey]

Just saying, there's a lot of immigrants in this country.

Yes, and I wasn't saying anything negative about them; jus that they are a more significant percentage of the US population than many people consider.

Just taking illegals; the estimates are between 15-30m, with the total US pop at 340M.

 

[paulsharvey]

We received a counter offer today, come up $20k, $7500 in pre-closing deposit or earnest money/binder, close in 45 days, and that was about it.

Real estate lady said the binder is too high, but other than that, it's way better than she expected.

Call wife, tell her, and real estate agent calls while talking to wife "oh, there is one more stipulation, with that price, they retain the back 3.3 acres".

Call wife, and dicsuss; I want the 3.3 acres too. Don't want the neighbor, want that back corner for box blind/food plot, ect. She agrees.

Call real estate agent back; we will go up the $20k, we will do the full binder, and early close, but I get the entire 13.3 acres. Real estate agent agrees that sounds like a fair compromise.

She calls back, 13.3 acres, binder, early close, and $40k over offer. Wife and I both agree, that's gonna be a no.

All that in 20 minutes.

 

[paulsharvey]

I told my wife, I'm don't want to stretch beyond comfort, and she agrees, doesnt think it worth what they asked. I told her, I'm not heart broken, she agrees; and I told told her, that's probably a sign.

 

[dodge man]

Every time I’ve lost out on a deal, be it a car, truck or house, I’ve always thought back and realized it was for the better. Or at least that’s the spin I put on it to not feel disappointed.

 

[newbury]

The last time I lost out on what I thought was a deal was followed by a better deal.
Lost out on 20 acres, small barn/shed, house at ~$300K followed by getting ~70 acres, 5,000 sq ft of barn, larger house, for ~$220K.

 

[ultrarunner]

Sometimes yes and sometimes no…

I’ve lost to flippers that come in all cash and later I found a better deal came my way.

I’ve also set up deals for the next person to waltz in adding a few thousand and do the deal.

All my hard work softened up the sellers so when someone came along with 2k more they could rationalize saying rejecting my offer was the right thing to do where that 2k more wouldn’t have stood a chance before I did the heavy lifting.

It’s been 12 years for the one that got away and I was all in to make it happen but sellers accepted a 50k less offer 2 hours before mine came in… for 6 weeks I was back up and every time the buyer wanted a concession it was my offer that stopped it cold.

 

[paulsharvey]

So, wife and I went riding around the area looking this evening. She wanted to relook at an oddball parcel (I more or less veto'd). Turned at several "for sale" and realtor signs and noted something.

If you were serious, why would you literal have 2 hand written sharpie signs, with For Sale, and a phone number, and no additional info? As in, drove down a dirt trail, and past 1st hand written sign, 0.72 acres; on a lake; not intrested; rather than turn around, I check Basemap and see it circles around. Find a 2nd hand written sign; 9.4 acres with canal access, and phone number. Dont get me wrong, took a picture, and played with hunting app, guessing what was for sale; But... If you were selling something; wouldn't you include something more?

I actually might text this one tomorrow and see what he's actually selling.

Maybe my rambling point; there's stuff out there, the real estate people don't know about, not on the sales apps, and kinda hard to find.

This is what I 'guessed' the 9.4 acres is; as its currently like a 40 acres random shapped chunk of woods.

BTW: I try to blur the details for a couple reasons; 1) it's a small world, and I woudlnr want someone stealing 'my' property 2) I general prefer not to throw other people's info just out there to the world

 

[Jstpssng]

I general prefer not to throw other people's info just out there to the world

Call me paranoid but I prefer not to throw my info just out into the world, and try to treat others the same way. Want my friend's number? Give me yours and I will ask him to call you.

I also can't blame you for posting information on something you are thinking about buying.

 

[etpm]

I told my wife, I'm don't want to stretch beyond comfort, and she agrees, doesnt think it worth what they asked. I told her, I'm not heart broken, she agrees; and I told told her, that's probably a sign.

Good for you, you made the right decision. Stay within your budget and you will be much happier.
Eric

 

[plowhog]

It was proven that the foreclosure sales on the court house steps had a pecking system of buyers… very much a closed club.

I have done that. It's an exhilarating wild west ride.

Saavy investors show up with multiple certified checks each at $100k, then some for $50k, $25k, and all the way down to one dollar.

The courthouse step auctions only accept certified checks on the spot. So if some poor sap bids $200k, and only has $100k denomination certified checks, I can bid $200k plus one dollar. The competitor's only option, since he only has $100k checks, is to up his bid to $300k. Then, since I have a certified check for one dollar, I can bid $301k lol.

It's a real wild west show ............