Is it me or are home prices in the toilet?

[brianmanahan]

i am looking for a house and a few acres for about 100$k. there are less good deals in this price range than there were 3-4 years ago, but some still show up every now and then. figure i should probably get something soon though.

 

[PrinceofWands]

i am looking for a house and a few acres for about 100$k. there are less good deals in this price range than there were 3-4 years ago, but some still show up every now and then. figure i should probably get something soon though.

If you're not location locked most of the midwest will have plenty of those deals. In fact Wyoming and the Dakotah's will have even better.

 

[brianmanahan]

If you're not location locked most of the midwest will have plenty of those deals. In fact Wyoming and the Dakotah's will have even better.

eh, im pretty much tied to cleveland area. i think i would like living somewhat south or out west some more, but in both directions the availability of software jobs seems to decrease significantly.

 

[natto fire]

I hope some dumbass necro poster gets this thread locked in a few years, when the price to own has balooned again across the board when all the inventory is held by large investment firms and overpriced renting is the norm.

Even if I am wrong, the thread will be locked before any kind of discussion can ensue, so I can't lose!

 

[Mixolydian]

I hope some dumbass necro poster gets this thread locked in a few years, when the price to own has balooned again across the board when all the inventory is held by large investment firms and overpriced renting is the norm.

Even if I am wrong, the thread will be locked before any kind of discussion can ensue, so I can't lose!

Jeez, someone's a Debbie-downer!

 

[brianmanahan]

I hope some dumbass necro poster gets this thread locked in a few years, when the price to own has balooned again across the board when all the inventory is held by large investment firms and overpriced renting is the norm.

Even if I am wrong, the thread will be locked before any kind of discussion can ensue, so I can't lose!

lol howdy, you should see a doctor about that depression

 

[KK]

Looking for a toilet, need a 14" rough in one. Whats a good make? I see toto makes a universal fit toilet, but they seem more expensive.

 

[EliteRetard]

Looking for a toilet, need a 14" rough in one. Whats a good make? I see toto makes a universal fit toilet, but they seem more expensive.

 

[natto fire]

Jeez, someone's a Debbie-downer!

lol howdy, you should see a doctor about that depression

I really hope I am wrong, except about the necro that should be obviously true to any poster here who has even spent a few weeks in OT.

As far as the housing market, A few reputable journalistic enterprises seem to corroborate the possibility. At least history has never repeated itself, and there is no upcoming legislation to impact the value of homes. When would be the best time to lobby the repeal of that legislation, before or after investment firms buy up huge amounts of coastal property for pennies on the dollar?

I am definitely cynical, and I'd like to think we will eventually get tired of a government running at 50% efficiency, but I have seen a lot of evidence to the contrary lately.

I will happily eat crow if this whole thing blows over and a few media outlets are just being depressed debbie downers.

 

[Vdubchaos]

4000 sq feet?

That's a WHOLE lot of house for 1 person to live in. You should be looking at houses 1/3rd or even 1/4th of that.....

 

[Anubis]

As a person trying to buy a house, I still feel like they are priced too high...

you would be correct

 

[xeemzor]

you would be correct

So many baby boomers are near retirement with little to no savings outside of equity. When they sell those houses to retire prices will come back back to reality.

Prices over 3x household income levels are just insane.

 

[monkeydelmagico]

Are you looking at this house to own for a long time or fix up and sell?

 

[purbeast0]

jesus christ $36/sqft lol that is cheaper than buying nice flooring.

my wife and i bought our first house last year for $418k. yesterday there was an open house for a house across the street and up 1 house that is being put on the market for $549k. after checking their house out, our house is actually much nicer on the inside and i really hope that house sells for the asking price. and no, i definitely wouldn't say house prices are in the toilet. prices have been on the rise the past year or so around here.

 

[poofyhairguy]

Where I am home prices are skyrocketing. I bought a year ago and my area is up 8% on average since then. To give an idea I bought a mid-90s 2300ft home for $160.

 

[TechBoyJK]

Where I am home prices are skyrocketing. I bought a year ago and my area is up 8% on average since then. To give an idea I bought a mid-90s 2300ft home for $160.

I thought you died!

 

[Puppies04]

Doesn't $145k seem really low for a 4,000 sq ft house like that? Even if it needs $50k worth of work, I'm imaging that place totally remodeled and updated and it'd have to be worth more than $200k.

It probably would be worth more than $200K. You don't spend $145K on a house then spend $50K on it and expect to flip it for $5k profit........

 

[Spungo]

http://www.homes.com/property/100-powder-mill-rd-belleville-il-62223/id-600015163575/

Doesn't $145k seem really low for a 4,000 sq ft house like that?

Look at the year. Year Built: 1959. That means it probably has asbestos in the walls and floor. Any kind of floor or wall work would require a hazmat team. IIRC, asbestos was made illegal in the late 1970's. Do not buy a house older than 1980.

edit

4000 sq feet?

That's a WHOLE lot of house for 1 person to live in. You should be looking at houses 1/3rd or even 1/4th of that.....

Imagine a 4000 sq foot house with 1959 insulation. Your monthly energy costs will be around 9-10 billion dollars.

 

[Capt Caveman]

Imagine a 4000 sq foot house with 1959 insulation. Your monthly energy costs will be around 9-10 billion dollars.

Asbestos may kill you if you inhale it but it's very good as an insulation. Windows would be the issue when it comes to energy loss.

 

[Vdubchaos]

Asbestos may kill you if you inhale it but it's very good as an insulation. Windows would be the issue when it comes to energy loss.

Doesn't really matter,it will cost a lot to keep it heated/cooled etc.

That's a HUGE house and most likely an overkill for OP.....bigger is NOT always better.

 

[Capt Caveman]

Doesn't really matter,it will cost a lot to keep it heated/cooled etc.

That's a HUGE house and most likely an overkill for OP.....bigger is NOT always better.

Thanks for missing the point I was replying to.

 

[vi edit]

That place needs *A LOT* of renovation. If you do not have an excess of disposable cash you are looking at years of tinkering away room by room to remodel.

There's a reason it's dropped $50k recently and not in line with others in the area. People walk in, see just how out of date it is and walk out.