Real Estate Market. Thoughts?

[Dave_L]

So wife and I have been tentatively looking to see if we can use the equity in our home to upgrade. We aren't in dire need so we don't play the "bidding war" game but holy crap...

So far, both offers of full price were nixed due to people offering over the asking price. The offer on the first one was before they even had a sign in the yard. The second offer was refused because someone else offered $40k more than asking price.

This market is just silly.

[Dave_L]

Yeah, it makes me really nervous. Prices are already inflated but I dont mind rolling my equity over and our payments will stay the same. I figure it's all funny money when using the inflated market equity so I'm still only investing my original cash downpayment. I can't imagine trying to buy without having the funny money from equity to use.

[Irving]

I'm in a much better position to capitalize on a market crash this time around.

[DFBrews]

Call me nuts,

But the market makes me nervous, this is what it looked like right before 2007/8 when it went south.

Galaxy Note II + Tapatalk 2

Isnt the nation as a whole fairly steady but there are just certain markets that are going nuts like us San Fran etc?

[mrghost]

So wife and I have been tentatively looking to see if we can use the equity in our home to upgrade. We aren't in dire need so we don't play the "bidding war" game but holy crap...

So far, both offers of full price were nixed due to people offering over the asking price. The offer on the first one was before they even had a sign in the yard. The second offer was refused because someone else offered $40k more than asking price.

This market is just silly.

In our recent search this is exactly the kind of situation our agent has been telling us is happening all the time out there right now. If you go to an open house on a Saturday, offers will be due by the following Monday evening and there could be as many as 40+ people who looked at the house in that short time frame, and likely a bidding war and/or buyers ready to pay all cash, particularly in 200-300K range.

[Sawin]

I'm in a much better position to capitalize on a market crash this time around.

Me too, but not enough to make up for the "paper losses" incurred on my home's theoretical value + the losses in my retirement accounts.... but I'd be far better off than most other people my age, that's for sure. I would really like to capitalize on this local market and sell/move elsewhere, where the market is not so frothy, simultaneously improving my families position with respect to self-sufficiency and preparedness.

[RblDiver]

I'll be honest, I wouldn't mind a real estate crash. But that's because I'm looking to be a buyer, so I may be a tad bit biased >.>

[Dave_L]

Yeah, unless something magical happens, I don't see us moving right now. I do hope it holds til March though so I can sell my rental. Then, I can sit back and wait for it to dip again.

[tmckay2]

Me too, but not enough to make up for the "paper losses" incurred on my home's theoretical value + the losses in my retirement accounts.... but I'd be far better off than most other people my age, that's for sure. I would really like to capitalize on this local market and sell/move elsewhere, where the market is not so frothy, simultaneously improving my families position with respect to self-sufficiency and preparedness.

certainly thats the way to go, its just a tough pill to swallow to uproot the family sometimes. i wouldn't have a problem with it, but the wife? she wouldn't be as thrilled. her parents just moved out, she has close friends here, likes the denver area. and i mean i have all those reasons to stay too i am just a little more independent. my ideal situation would be to sell now, move to a mountainous area where land is dirt cheap and build a sweet house on a lot of acreage so i could shoot to my hearts content. it will never happen though.

[BlasterBob]

Just listed our place this morning and have had one showing already. We live on thirty five acres, five miles from town, have four out buildings with one as a reloading shed. The prospective buyer is into reloading, shooting etc., so we'll see what happens.