Today we begin looking for a home to buy. It stink... - Page 7

Porcelain · ‎02-19-2014

@Tinkrbl44 wrote:
@FiddleDeeDee wrote:

@Tinkrbl44 LMAO. You never fail to make me laugh. Perhaps you need to read the entire thread, lol. You would have known we are already renting if you had, lol. It's all good, Tinkerbell.

@FiddleDeeDee

I didn't "need" to read the whole thread; I took your comments at face value. Glad you got a chuckle, but your comment looked like a divorce could be coming. Or more discussion is necessary to be sure you're actually on the same page. Splitting property in a divorce settlement could be very costly.

Yelling at each other occasionally is not a dealbreaker in many couples. In some it certainly is. It depends on the couple's style.

When we moved last time, DH and I definitely raised our voices at each other at certain points in the process. Nothing unforgivable was said or done and we made up. In my experience, icy or resigned silence is a much much more reliable precursor to a breakup. But again, that's my personal style and not everyone is like that. I do think that couples who yell at each other often should get counseling because that's just an unpleasant thing to deal with on the daily.

When you’re accustomed to privilege, equality feels like oppression.
"Power without love is reckless and abusive, and love without power is sentimental and anemic." - Dr. Martin Luther King Jr

kivah · ‎03-11-2010

@FiddleDeeDee wrote:
All I can say it what used to be fun is now a nightmare. DH and I have had more shouting matches than I can count; we've seen 3 houses go up for sale and then show SOLD in ONE HOUR; we've seen 5 houses come on the market, come off the next day to then come back on at a much higher price (over the past week)....this just stinks.

It's even worse when you have a deadline. My fear is we'll wind up with a house we really don't like but it's the only choice we'll have because of the deadline.

Do I even NEED to say the word "COVID"? *heavy sigh*

Wish us luck.

There are very few listings and many buyers. So - it's a sellers market. When a realtor lists a house, he/she passes out flyers to the realtors in his/her office - and to the realtors in their other offices -- before the house shows up on the MLS (property listings on-line.) Last week, my neighbor put her house up for sale - and it sold in 1 day at full price. Interest rates are very low - making it easier to get loan approval. You may need to rent an apartment and put your things in storage - to give u time to find the right house. Don't grab a house. I'm a former realtor. This is the worst time to buy!!!!

KKWA · ‎08-21-2011

@FiddleDeeDee WOW, They say if God brings you to it, he will bring you through it. My son and family went through a situation different than yours, however had to settle out of the desired school district. Think about home schooling. The public schools are getting worse and worse. There are associations that can help you through it. In any event, my thoughts are with you. Good Luck

novamc1 · ‎07-02-2015

As a former real estate agent and later a broker who lived and worked many years in one of the most desirable Wash DC suburbs and is now living in one of the "good school areas" in a southern state, about all I can offer to hopeful buyers today is to keep saving your money.

Mortgage interest rates are going to rise (in fact, already are) and MAYBE some pressure will come off and you will be among those folks better prepared for whatever the market offers.

Meanwhile, some other facts to consider............

--More and more folks in our country are growing quite old in their long-owned homes, and they or their heirs eventually will need to sell.

Inventory of homes might also increase as rising prices and mortgage rates keep out many first-time homeowners and create more opportunities for those who can afford to trade up to "bigger and better". (Again, keep saving your money for a better time or a better home.)

--Vacant land is scarce in the most desirable and developed zip codes and school districts, meaning builders would like to build but can't find places to do it. This is contributing heavily to scarce inventory as the population grows and new families are formed and setting up households.

This historically contributes to "suburban sprawl" and growth further out from major metro and employment centers. Maybe moving further out from a city is an alternative.

--It's time for people in some heavily populated and over-developed areas to think about and consider buying an old home on a nice lot and building new. Entire neighborhoods where I came from have been replacing small old homes with shiny new big ones for many years.

A great, well-located lot can be worth more than the old outdated home sitting on it, so there is a new future waiting for a buyer of that property.

Again, keep saving your money so you might possibly afford to build new on a good lot, if the area is worth living in for many years.

Remember an old saying........"they're not making any more land".

Having dealt with a local "market" during hot times and cold times for home sales, this is about all the advice I can give, but do think it might serve some prospective buyers well in the near or not-too-distant future to think of alternatives.

--

suzyQ3 · ‎03-09-2010

@novamc1 wrote:
As a former real estate agent and later a broker who lived and worked many years in one of the most desirable Wash DC suburbs and is now living in one of the "good school areas" in a southern state, about all I can offer to hopeful buyers today is to keep saving your money.

Mortgage interest rates are going to rise (in fact, already are) and MAYBE some pressure will come off and you will be among those folks better prepared for whatever the market offers.

Meanwhile, some other facts to consider............

--More and more folks in our country are growing quite old in their long-owned homes, and they or their heirs eventually will need to sell.

Inventory of homes might also increase as rising prices and mortgage rates keep out many first-time homeowners and create more opportunities for those who can afford to trade up to "bigger and better". (Again, keep saving your money for a better time or a better home.)

--Vacant land is scarce in the most desirable and developed zip codes and school districts, meaning builders would like to build but can't find places to do it. This is contributing heavily to scarce inventory as the population grows and new families are formed and setting up households.

This historically contributes to "suburban sprawl" and growth further out from major metro and employment centers. Maybe moving further out from a city is an alternative.

--It's time for people in some heavily populated and over-developed areas to think about and consider buying an old home on a nice lot and building new. Entire neighborhoods where I came from have been replacing small old homes with shiny new big ones for many years.

A great, well-located lot can be worth more than the old outdated home sitting on it, so there is a new future waiting for a buyer of that property.

Again, keep saving your money so you might possibly afford to build new on a good lot, if the area is worth living in for many years.

Remember an old saying........"they're not making any more land".

Having dealt with a local "market" during hot times and cold times for home sales, this is about all the advice I can give, but do think it might serve some prospective buyers well in the near or not-too-distant future to think of alternatives.

--

@novamc1, this is very controversial in many areas. Such gentrification can adversely affect those people already living there. It can destroy the neighborhood "feel" and displace current owners who often can't afford to relocate.

I lived in "shiny" ville and prefer a more mixed type neighborhood.

~Who in the world am I? Ah, that's the great puzzle~ Lewis Carroll, Alice in Wonderland

novamc1 · ‎07-02-2015

@suzyQ3

Housing prices are largely determined by the socio-economic level of people who live and/or work in the area and are able to buy them.

When prices get too high for local incomes, the market will become less hot, houses won't fly off the market and prices will fall. or at least stagnate. Happens every time, although the change from one market cycle to another might take years to occur.

I doubt anyone would refuse to sell their house to the highest bidder who wants to either put a small mansion or a modest but more modern home on the property, just to keep the area from "gentrifying".

Gentrification can't be stopped very easily, because local governments want the increased tax revenues that improved properties represent.

suzyQ3 · ‎03-09-2010

@novamc1 wrote:
@suzyQ3

Housing prices are largely determined by the socio-economic level of people who live and/or work in the area and are able to buy them.

When prices get too high for local incomes, the market will become less hot, houses won't fly off the market and prices will fall. or at least stagnate. Happens every time, although the change from one market cycle to another might take years to occur.

I doubt anyone would refuse to sell their house to the highest bidder who wants to either put a small mansion or a modest but more modern home on the property, just to keep the area from "gentrifying".

Gentrification can't be stopped very easily, because local governments want the increased tax revenues that improved properties represent.

Yes, and it's shame, @novamc1. I live in what used to be a funky little beach town. But by the the time we moved here, there were few cottages left -- replaced by huge homes on tiny lots. Thankfully, we still have a little funk left.

And I count us as just as guilty in our choice of a house here. So I do understand the dilemma.

~Who in the world am I? Ah, that's the great puzzle~ Lewis Carroll, Alice in Wonderland

novamc1 · ‎07-02-2015

Land............they're not making any more of it.

Just think exactly how much of our vast country is desirable oceanfront.........not much, percentage-wise and is available to a lucky few.

Just think how much vacant, buildable land is available in or near major employment centers...........just about none in the two major areas I'm most familiar with.

Thus, the only alternative is "infill" building, where old stuff must be torn down and replaced by new.

Meanwhile, prices of lumber, steel and everything else that goes into building homes are going up, supplies are constrained (especially lumber right now, which is holding up some new-home construction) and it's all vibrating through the market.

For now, at least. Time (or years) will tell how it all pans out.l

Lucky Charm · ‎03-09-2010

@novamc1

I totally agree with everything you said. There is no more land than what's already here.

The last house we built a few years ago, was actually a tear down. The wiring was the old post and knob and had copper piping. Everything was outdated and not energy efficient. It needed to be raised and put on piles to be above flood stage.

A few weeks ago we purchased the house next store, technically for the land and were able to do it through the owner so it never hit the MLS.

This town still has a historical district, and many beautiful old homes dotted throughout. Plus there are a lot of tiny, little *Doll Houses*---all only 10 feet wide! Adorable!

Mortgage rates are going to go up and I'm thinking that capital gains will as well. I'm selling a beach rental this spring with that in mind. We're actually talking about selling our primary residence, too.

kivah · ‎03-11-2010

I've seen this type of market before - and many of the buyers today - will end up in foreclosure. People budget according according to their income - but they don't realize that their taxes will keep going up ---- they could have expensive repairs --- they could lose their job(s) -- they could get sick and have expensive medical bills --- or they could divorce.

Interest rates are very low --- but life has gotten way too expensive,.