Bidding war on houses

[Sawin]

We're listing this Friday in Broomfield with plans to move to Tennessee as soon as we're sold. The same sized house there goes for less than half of what we're expecting to get here and sits on acreage rather than square footage. I'll let you know how it goes.

you're going to make out like a bandit. Before we sold our home in Broomfield, I considered moving back east too, but the wife wasn't ready to leave CO....she's getting closer though. Where in TN are you headed?

[fitz19d]

Hopefully you have a job lined up or retired. Aside from family, that's our hangup. You go to a place like KY and I hear jobs very limited. Granted I'd head to Wyo/Utah which I think has enough booming areas to not be such poor prospects, still awkward to try to time job searching with selling, moving, buying.

[Gman]

With family already scattered to the winds or being untethered due to military obligations, we have an idea where we would like to end up. The problem is employment. I'm in tech, and the Silicon Mountains is one of the hottest areas right now. Where I'd like to relocate to, not so much.

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[jason303]

We're going to Knoxville. I'm fortunate that I don't have a reason to stay here like family or a job that I can only work here.

[Wiggity]

My wife and I were looking at moving to Montana or Idaho as we just couldn’t afford to compete for a house out here. It sucked because we both grew up here. But then my best friend hit me up and was like “Hey my mom is thinking about selling her house. She’ll sell it to you off the market if I can rent the basement for a while.” Got the house off market for under appraisal value plus we’re renting out the finished basement which is paying half the mortgage. Got incredibly lucky. Couldn’t have worked out better for us.

That said, it’s all supply and demand. As long as people are moving here faster than houses can be built, prices will rise. Once equilibrium is reached, they’ll level out. It’s fairly impossible to tell exactly when that will happen, but I’m guessing they’ll continue to rise for at least the next 5 years.


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[CoGirl303]

Going to the bank in 10 days to get pre-qual'd on a house.

I don't anticipate finding what I want will be a fast process in this market.

I have two realtors on standby waiting on my pre-qual paperwork.

I pre-qual'd last year for $248K house.

I just paid off three credit cards and a student loan last month.

I imagine that puts me in the $260,000 - $270,000 range now.

looking north of I-70 preferably.

no Denver, Denver County or Boulder city.

As far east as Byers. As far north as Windsor
Aurora is a last resort.

If anyone knows of a house w/ a 3 bedroom, 2 car garage and basement for sale around or under $275,000 plz let me know. I will pay a $200 finders fee to the person if it checks out and I buy it.


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[Squeeze]

Going to the bank in 10 days to get pre-qual'd on a house.

I don't anticipate finding what I want will be a fast process in this market.

I have two realtors on standby waiting on my pre-qual paperwork.

I pre-qual'd last year for $248K house.

I just paid off three credit cards and a student loan last month.

I imagine that puts me in the $260,000 - $270,000 range now.

looking north of I-70 preferably.

no Denver, Denver County or Boulder city.

As far east as Byers. As far north as Windsor
Aurora is a last resort.

If anyone knows of a house w/ a 3 bedroom, 2 car garage and basement for sale around or under $275,000 plz let me know. I will pay a $200 finders fee to the person if it checks out and I buy it.


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Believe it or not, they are out there. Since I was using VA, many of the homes in the price range you listed didn't qualify for VA without some work first. I saw a few nice homes in the Thornton/Northglenn area that were listed for $275K. The problem you run into with those homes is the POS investors who come in with a cash offer and scoop it away before you can even put a bid on it. If you using an FHA loan you will have a lot more leniency.

[CoGirl303]

Believe it or not, they are out there. Since I was using VA, many of the homes in the price range you listed didn't qualify for VA without some work first. I saw a few nice homes in the Thornton/Northglenn area that were listed for $275K. The problem you run into with those homes is the POS investors who come in with a cash offer and scoop it away before you can even put a bid on it. If you using an FHA loan you will have a lot more leniency.

I too am using a VA Home loan guaranty, 1st time buyer. Credit score is on the rise now the credit cards are paid off and that student loan is out of the way. I've started doubling down on my car payment to get it paid off faster. Should be paid off by X-mas.

No idea what an FHA loan is, but regardless its now or never for me to buy a home here in Colorado, unless some miracle happens and the bubble bursts and I'm not gonna hold my breath on that right now. Property values are continuing to rise.


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[Sawin]

I too am using a VA Home loan guaranty, 1st time buyer. Credit score is on the rise now the credit cards are paid off and that student loan is out of the way. I've started doubling down on my car payment to get it paid off faster. Should be paid off by X-mas.

No idea what an FHA loan is, but regardless its now or never for me to buy a home here in Colorado, unless some miracle happens and the bubble bursts and I'm not gonna hold my breath on that right now. Property values are continuing to rise.


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You might want to consider saving the extra car payments and keep it toward the down payment or related costs.

That is, unless your car loan is a high interest rate.

[CoGirl303]

You might want to consider saving the extra car payments and keep it toward the down payment or related costs.

That is, unless your car loan is a high interest rate.

I'm still putting money in savings every paycheck. Have quite a bit of liquid cash after the bils are paid each pay period.

As a first time buyer w/ VA loan a down payment wont be required.

I am however saving for my earnest money when I get to the point where I go under contract.


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