U.S. EXISTING-HOME SALES HAVE JUMPED UP 20.7% IN J... - Page 5

Sage04 · ‎07-10-2011

We flip houses and just a few days ago our Agent put up her for sale sign and there were so many offers that it turned into a bidding war. We held on to this house because of the Corvid 19. We didn´t want the Agents showing the house. The person with the higest bid put the closing date for 15 days. We didn´t realize that it would go this fast.

Lindsays Grandma · ‎03-10-2010

@Annabellethecat66 ...I think you are very wise to stay right where you are. A house paid for, an acre of land, all brick and I assume in a desirable neighborhood. If you were to sell what would you do, rent an apartment or buy a smaller house? Anyway, stay right where you are for as long as you feel necessary.

The moving finger writes; And having writ, Moves on: nor all your Piety nor Wit Shall lure it back to cancel half a Line Nor all your Tears Wash out a Word of it. Omar Khayam

songbird · ‎03-21-2010

@GingerPeach wrote:
Lots of folks living side-by-side in cities are realizing that being so close isn't so desirable while having to be home all the time.

I know some folks like this, and there've been a few articles on the subject lately.

I don't blame them. I'm glad I have a bit of distance, not to mention more room to spread out. Even if my backyard is small, it's still all mine!

Cost of land is a factor in some states. California and Hawaii have some of the costliest land prices. Only 6% of land on the big island (Hawaii) is in private ownership. The cost of living in Hawaii is so extreme, the state is almost bankrupt. If you're going to invest in anything in Hawaii, make sure it's a vacation home that you won't live in full-time. Forget the land that it sits on. Even wealthy celebrity houses in Southern California sit on relatively small parcels of land. Yet in Maryland, my sister (who is a lawyer) owns 8 acres of land. If you went outdoors from her house for a walk, it would take you a long time. Her home & the land that goes with it goes about 1.5 million. That would be unthinkable in California! Another sister lives in a community outside of Albuquerque, New Mexico. she has small rancher sitting on 5 acres of desert with a horse barn,scorpion and no grass that is dirt cheap. In Maryalnd huge 3 story homes sit on tiny parcel of lands. Less then 1/4 acre. The actual house sits on nearly all of it. The separation between home are less then 3 feet. They might as well be row houses. Yet very expensive starting at $400,000 a piece for a 3 bedroom. That's a typical middle class home in Maryland with small kids, and the mother working full time. The higher the cost of housing on increasingly expensive acres of land, the worse it's going to get for young families trying to buy a house in any condition so long as it's in a "nice" (code word for crime free) neighborhood. It could be in a shack, but if it's in a decent neighborhood, you'd pay dearly for it.

Catch71 · ‎03-09-2010

Things in my area are selling fast and over asking price. People fleeing New York City for the suburbs of NJ.

shoekitty · ‎03-10-2010

@songbird

Depends on where you live in California. Friend just sold home in Mt View, California. People move there as it is Silicon Valley, next to shoreline, google, lockheed, close to San Francisco.etc. but mainly for education for kids. The school district is like a top private school. She sold 2 bedroom, 1 bath 860 sq ft home built in 1948 on 6800 sq ft lot. For 1,700,000. The average home in that area is about 2 million, unless it townhome

kivah · ‎03-11-2010

@ScrapHappy wrote:
We've had several homes in my neighborhood up for sale, which is considered a desirable neighborhood. Some went quickly and there were a few that seem to take a bit longer. I've seen 2 moving trucks within a week or two of each other recently. It's sometimes hard to tell which homes have sold because the for sale stays up so long, even still in the lawn when the new people are moving in.

Realtors keep the For Sale signs in the yard to attract more business. Many people call realtors from the signs.

kivah · ‎03-11-2010

I live in southern Calif. Ventura County, and there are few homes for sale. I'm sure the sellers would get multiple offers when they list their homes. Interest rates are also very low.

I just read an upsetting article about 4 very large conglomerates, one is Blackstone, out of NY. They're buying up houses in many states (for cash) - the 3+ bedrooms close to schools in good areas.

Around 10 yrs ago, when real estate prices dropped during the recession, Blackstone bought up many houses in my county, which is upscale, fixed them up - and rented them out. Blackstone had been involved with commercial property - until they realized they could make a bundle buying low-priced homes.

Eventually, most people won't have too many choices of homes to buy -- as these corporations will be buying them up. This should be illegal.

ROMARY · ‎04-28-2010

Boy, have I learned a lot, just reading a few of the latest posts.

I'll have to go back, continue reading the posts while taking lots of notes.

My goodness...........'Who would have thought?' (At this uncertain time in history).

'More or less', 'Right or wrong', 'In general', and 'Just thinking out loud ' (as usual).

songbird · ‎03-21-2010

@shoekitty wrote:
@songbird

Depends on where you live in California. Friend just sold home in Mt View, California. People move there as it is Silicon Valley, next to shoreline, google, lockheed, close to San Francisco.etc. but mainly for education for kids. The school district is like a top private school. She sold 2 bedroom, 1 bath 860 sq ft home built in 1948 on 6800 sq ft lot. For 1,700,000. The average home in that area is about 2 million, unless it townhome

California is just about out of reach in real estate. Rents are sky high and most people want to avoid renting. All of California too. A former co worker decided to retire to Southern California (Studio City) to be near her grand kids (jammed with 2 little boys in the a tiny 2 bedroom condo) I warned her about the costs of housing after she said confidently (her house sold well in Maryland) she would buy a house. She ended up in an expensive apartment (much cheaper then the monthly mortgage of a house there) San Francisco land cost is unbelievable. People have houses that sit on postage size land. And the homeless there have good high tech jobs with no place to sleep.

What is outrageous is what happened to Hawaii. It's no longer (if it ever was) paradise. The state has barely money to operate. Most of the population are working poor that rent. It's the most socialist leaning state in the union with special privliages for Native Hawaiians. Yet the cycle keeps the same each election year. Middle class there is almost non-existent. I had friend who was from North Dakota that went there to university and was shocked what he saw.