Real Estate Market. Thoughts?

[Dave_L]

Thats where I am currently. Trying to decide if I'll stay in the neighborhood.


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How do you like it?

[Firehaus]

I like it, other than the see in your neighbors backyard part.

I'm wanting a bigger lot, but might just decide to stay in the neighborhood.


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[Dave_L]

I like it, other than the see in your neighbors backyard part.

I'm wanting a bigger lot, but might just decide to stay in the neighborhood.

Yeah, it's tough/expensive to get a lot these days. It'll be an adjustment from our current home but the extra house space will be awesome. I use the interior of a house way more than yard space. Plus, big landscaped yard just means more time on weekends taking care of it. I'd rather be out in the woods. I'd love land as long as it's in the country and not an HOA neighborhood.

[BigNick73]

We bought the house in the middle of crash of 2008. Financing was 10x harder and more complicated than when my mom bought a place in Long Beach area around 2001.

I decide not to finance a house again, unless they go back to how easy the financing was like 2002-2006ish. IMO , I think it is just easier to save my butt off to buy a house with cash than go through that financing hell again. (fine, I won't buy new toys, eat 89cent salad packs + boiled eggs every day+ not going out, etc regardless of how much I make).
I just don't know how people afford $800k+ homes at $250k/yr all combined salary. This is very reason we are stuck at home we live in now.

I decided the same thing after going through the whole FHA process in 2009 and having to sell for work in 2010. I ran the numbers every way I could and couldn't find any benefit to financing a primary residence, despite popular opinion (investment/rental can be different). While I don't have to go through the financing I'm pacing right now waiting for a bank to respond to an offer I just made back in the southeast on a foreclosure and they are still taking their time.

[DeusExMachina]

I hate the "we will look at offers in 3 days" game, but the least they could do is have a prompt answer.

[ruthabagah]

Well got word tonight that the offer I made on saturday was second to a 25k over asking price + 5k bonus for an early closing..... Sucks because it was THE HOUSE. Of course it was bought by former CA residents, currently in corporate housing....

[DeusExMachina]

Well got word tonight that the offer I made on saturday was second to a 25k over asking price + 5k bonus for an early closing..... Sucks because it was THE HOUSE. Of course it was bought by former CA residents, currently in corporate housing....

That sucks...I feel ya.

[DFBrews]

That sucks...I feel ya.

Yup have offered over asking either 5 or 6 times now and not gotten the house

[Dave_L]

Yup have offered over asking either 5 or 6 times now and not gotten the house

The wife and I decided that we'd take the first solid offer that was at our asking price. Solid meaning either cash or their house already under contract. We didn't want to put people in that silly bidding war nonsense. We priced it where we needed it and that's that. Also why we ended up going with a new build. The price is what it is.

[DeusExMachina]

Noticed the house I put an offer on is under contract. No notification, no contract rejection, nothing. Some people.