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Is it me or are real estate prices going wacko again

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thestrangebrew1 said:
I wish the Central Valley housing market was going up like some of these other places in this thread.
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I don't know why any employer would want to be there (except farming maybe?). You don't get any of the benefits of Cali and you still have to deal with the taxes and the crazy liberals. Plus aren't most of the towns/cities bankrupt there? Yeah it's much cheaper than SV but you can do much better elsewhere in the US.
 
In So Cal i'm going nuts trying to find a 2 bedroom for a decent price. Bottom barrell is about $1600 and anything decent near me is ~$2000.... for a 2 bedroom apartment.

I don't know how folks are doing this. I think most folks are just spending significantly more of their take home on rent these days in So Cal.
 
Attic said:
In So Cal i'm going nuts trying to find a 2 bedroom for a decent price. Bottom barrell is about $1600 and anything decent near me is ~$2000.... for a 2 bedroom apartment.

I don't know how folks are doing this. I think most folks are just spending significantly more of their take home on rent these days in So Cal.
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my friends live in san diego and pay $2225 rent for a 3BR house in a gated community. it's about 15 minutes in land from del mar beach. i'm not really familiar with any geography around there though, but i didn't think that was TOO bad. houses in that neighborhood are about $600k though.
 
Attic said:
In So Cal i'm going nuts trying to find a 2 bedroom for a decent price. Bottom barrell is about $1600 and anything decent near me is ~$2000.... for a 2 bedroom apartment.

I don't know how folks are doing this. I think most folks are just spending significantly more of their take home on rent these days in So Cal.
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That's about right for SoCal .. Solution = make more money.
 
jpiniero said:
You'd need like 150k. Which is reasonable for two (three?) income HH.
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Agreed, that's the number I peg it at to live a decent middle class lifestyle in SoCal.

Yes you can definitely get by with less, but "Decent middle class Jones' lifestyle" with 2 cars and a yard = 150k.

EXCEPTION: You live with your parents or already own a house outright.
 
rednas said:
I think that Austin is overpriced for what it offers. I initially was gonna settle down there since that is what everyone from California is doing but now that I am in Houston I am glad that I ended up here instead.
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Fair enough, but if I want to work in semicon, Austin's the closest place from Dallas that has decent opportunities since everyone's there (AMD, Intel, Avago, Maxim, Apple, etc.)
 
Ns1 said:
Agreed, that's the number I peg it at to live a decent middle class lifestyle in SoCal.

Yes you can definitely get by with less, but "Decent middle class Jones' lifestyle" with 2 cars and a yard = 150k.

EXCEPTION: You live with your parents or already own a house outright.
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i dunno man, my wife and i make well over 150k and we're doing pretty well with a house that cost us $2285/mo for mortgage (well right now she isn't working so we aren't quite over 150k but almost there) and it would be tough for us to live our same lifestyle out in san diego due to houses costing like $600k for the equivalent what we have right now. definitely wouldn't be able to continue going on as many vacations and stuff if we moved out there.
 
I put my rental on the market on Saturday, in 32 min my realtor called and said we had a full price offer. I accepted it.

Told you the market in denver is red hot.
 
OutHouse said:
Its rural, NE of Brighton about 5 miles. It's a small 2 bed 1 bath 980 sqft. $160

I put about 5k into it to refresh it for the sale.
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$160/month to rent an apartment?

EDIT:

oh nm, think you meant your rental property was up for sale, not rent. $160k i'm assuming then.
 
OutHouse said:
Its rural, NE of Brighton about 5 miles. It's a small 2 bed 1 bath 980 sqft. $160



I put about 5k into it to refresh it for the sale.
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Yeah, at that price range, people are going to snap it up. Average sale price in Denver around $415k for a detached...anything under $300k moves very quickly. Congrats on your sale.
 
Sho'Nuff said:
Long story short, my wife and I are thinking about selling our current place and moving a couple towns over. Basically we like our neighborhood, but due to wetlands in our area it is very hard to do anything with our lot. Since we have small kids, we want a property with more useable land.

Anyway, we have started to look at new homes and all I can say is holy cr@p prices have gone up big time in our area. The average asking price of a 4BR, 2 bath 2100 square foot home in the towns near me is over 500k, which is ridiculous considering the nearest major metropolitan area is Boston, some 55 miles away. Cripes, the neighborhood next to mine is filled with 1000 square foot 1950s era ranches, and they are selling like hot cakes at ~$325k.

Anyone else noticing this? Or are things just crazy in my area?
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They are crazy here as well, mostly due to the oil/gas boom. Places that should be costing around 120k are going for 200k+ That being said, WV typically had a low cost of living when it comes to housing so this is a huge bump.
 
purbeast0 said:
i dunno man, my wife and i make well over 150k and we're doing pretty well with a house that cost us $2285/mo for mortgage (well right now she isn't working so we aren't quite over 150k but almost there) and it would be tough for us to live our same lifestyle out in san diego due to houses costing like $600k for the equivalent what we have right now. definitely wouldn't be able to continue going on as many vacations and stuff if we moved out there.
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Yeah, I don't think you could do San Fran or San Diego middle class for $150k. Maybe he meant 'burbs?
 
WhoBeDaPlaya said:
Fair enough, but if I want to work in semicon, Austin's the closest place from Dallas that has decent opportunities since everyone's there (AMD, Intel, Avago, Maxim, Apple, etc.)
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I can definitely understand the advantages that Austin has over any other place in Texas when it comes to certain employment fields. I was comparing Austin to Houston as to what they offer as cities and nothing else.
 
A lot of the McMansions in my area have continued to fall. Some that were $450-$500K last summer are now near or under $400K.

I'd love to sell and move but my house is worth somewhere in the $330K-$380K range. The big problem for me is that the new appraisal laws fuck everyone. remodeling now has 0% increase in your home value. Nor does location. I have a remodeled house in a development. I will get comped on par with same sized shit homes on state roads. It's total BS.
 
It's pretty bad here. Even the $100k/yr Facebook and Google workers are having a hard time buying a house so they have to rent rooms for $5k/month.
 
PricklyPete said:
Yeah, at that price range, people are going to snap it up. Average sale price in Denver around $415k for a detached...anything under $300k moves very quickly. Congrats on your sale.
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Anything upwards of $400K is selling like hot cakes. My next door neighbor recently sold their house first day for $5K over asking, at ~$320K. Similar to us, for a house they bought back in 2008 for ~$230-240K. This is near Brighton as well, so not like somewhere super duper desirable close to downtown. They moved back out to Iowa. Likewise, it gets harder and harder for me to resist cashing out and moving back to Wisconsin/Milwaukee-area to be close to family.
 
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Some of the condos in OC have dropped a few percent over the last 6 months but they are still selling fast.

Really considering a $400k ish condo around South Coast Plaza.
 
Interest rates are still low so it opens up the market to inflated prices. Flips are going to happen and people are going to keep moving until the interest rates move the other direction and slow the market.
 
Scarpozzi said:
Interest rates are still low so it opens up the market to inflated prices. Flips are going to happen and people are going to keep moving until the interest rates move the other direction and slow the market.
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Canada dropped its interest rates back in January, average house prices across the country went up. One source said the amount it went up was directly related to the interest rate drop -- something something amount extra that people could borrow.

And lulz... People borrowing downpayments here.
http://www.theglobeandmail.com/repo...ually-for-home-down-payments/article24871171/
 
Gooberlx2 said:
Anything upwards of $400K is selling like hot cakes. My next door neighbor recently sold their house first day for $5K over asking, at ~$320K. Similar to us, for a house they bought back in 2008 for ~$230-240K. This is near Brighton as well, so not like somewhere super duper desirable close to downtown. They moved back out to Iowa. Likewise, it gets harder and harder for me to resist cashing out and moving back to Wisconsin/Milwaukee-area to be close to family.
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Yes...The whole market is just ridiculous. It really does us no good unless you are willing to pack up and leave.
 
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