Bidding war on houses

[rondog]

I'd love to sell and relocate to a cheaper area, but there's the problem of two people in their 60's getting new jobs, and also having to go through all the shit we've accumulated.....

[Great-Kazoo]

I'd love to sell and relocate to a cheaper area, but there's the problem of two people in their 60's getting new jobs, and also having to go through all the shit we've accumulated.....

We're kind of in the same boat. Been downsizing 25 yrs (from this house) of stuff. The next place is a ranch style, open floor plan. Jobs not an issue, we're both retired so that's not a must have item.
The issue is there's so much heavy stuff in the shop, it's easier to sell it all off, then buy as needed in the next home

With the deals we see popping up OOS it's down to, someone buy this so we can leave.. like yesterday. Been putting the word out, the house will be up for sale. We have lic realtor who will do the paperwork for a flat fee, IMO there's no reason to get another involved, especially for what they want in commission.

.

[brutal]

I think if we didn't have a grandson here, we'd be gone.

I can work anywhere within an hour of a reasonable size airport, and the wife is a nurse.

However, I'm also spoiled by my current commute. For a local project that should go on the next 3-6 months, it's a couple days a week 20 minutes each way opposite traffic, turning more remote every day now that I have provisional clearance, credentials, laptop, security card, etc., or driving to DIA for the other odd job and that's 30 minutes to security and blasting through with Pre unless it's super busy.

[MrPrena]

Greed....
Repetitive....
Doing the exact same thing (over spend on a house on impulse on 2006) over and over again (over spend on a house on impulse on 2016), expecting different result.

[Squeeze]

I recently had to deal with this. I got VERY lucky and found a house where the seller took my offer at asking price. It took me 7 months of battling with sellers to finally land this house. Every single one of my offers which was rejected were because of 2 things: 1. An investor came in with cash and offered to take the house "as is" with no inspection, 2. People were offering 20K+ over what I was offering - and I was generally going 10-15K over asking price on a lot of the houses I was interested in. I am very blessed to have the lender & realtor that I have. I've heard stories of people battling with getting under contract for over a year.

[FromMyColdDeadHand]

We moved here in 2005 and I told my wife it wasn't a housing market, it was a suicide pact. We rented for two years and got a house on the downswing, not the bottom- but at least they were still writing loans.

Denver is broken. The value equation is all jacked up. The problem is that most of us here are fiscally sound and conservative while a lot of other people are willing to take funky loans and over extend themselves. Add in CA people fleeing there and bringing buckets of cash. You end up with a warped market. You might not have the same financial system risk as in 2008, but that doesn't mean there isn't a bubble in housing. When people say things like they can't afford their parents house, or they can't afford the house they live in- that is a screaming, red-flag clue that something is amiss.

I consider moving to CO as a mistake. The cost of living, the traffic and the Progressive stupidity far out weigh low humidity. Mountains? F'ing traffic and sky high prices.

Colorado is broken and Denver is going to be a failed state once all this settles out. Only middle-class and higher people move here- that is the nature of moving for jobs and growth. When we start getting the poor and indigent filling their slots, this will be another CA-style cess pool.

https://www.denverpost.com/2018/05/0...omicides-2018/

Glad to see that Denver's 15 round magazine confiscation is working so well....

[hurley842002]

Glad to see that Denver's 15 round magazine confiscation is working so well....

Interesting, nobody came to confiscate my 15 round mags, they didn't even confiscate my 30 round mags.

[BPTactical]

I know 2 people who were looking at purchasing via conventional financing. Both were beat out of houses by cash deals substantially over the asking price.
Pot money.
People in the dope industry can't put their cash in banks, the Fed wont let them. Invest it in real estate, let it sit 2 years then sell and you now have legal cash.
Money laundering 101.

[Gman]

I know 2 people who were looking at purchasing via conventional financing. Both were beat out of houses by cash deals substantially over the asking price.
Pot money.
People in the dope industry can't put their cash in banks, the Fed wont let them. Invest it in real estate, let it sit 2 years then sell and you now have legal cash.
Money laundering 101.

^^^THIS! "Rent money" is also much easier to get into the bank.

[Sawin]

Even if the real estate market tanks nationwide, like it did in 2008, Colorado will not see the same level of severity that most of the nation will. We are incredibly insulated here due to the growth rate and influx of residents. It's the areas on the other end of the spectrum, that are stagnant or seeing their populations reduce, that will feel the pain. Even if prices dropped 20-25% in many cities, we'd probably be down nearer to 5-8%...