Um yeah. Im not going to spend $875,000 on a stupid house, ok?

[FelixDeCat]

Not $525,000,

Not $375,000,

Not even $215,000...

$150,000 take it or leave it. Thats right - I said $150 and your lucky I dont make it $125.

So stop thinking you can charge what-ever-the-fook you want for your stinkin' crown molding and wood flooring - 'cuz I aint payin for it, aight? I dont care if you resodded the yard or redid the kitchen or what ever. I dont care. So you can take your dream number and go jump in the lake. :laugh:

Am I crazy or what? Or do you agree that even with property values on the decline everything out there is still waaaaay overpriced.

EDIT:

EUREKA!! IVE GOT IT - THE SOLUTION TO THE MADNESS: An 85% Federal Excise Tax on Capital gaines on non primary residences purchased and then sold under 12 months! That'll put a cap on irrational housing exuberance!

 

[Geocentricity]

My parents' house which I'm still living in is worth close to 950k.... either you want to live in the middle of nowhere or you're poor

 

[Goosemaster]

My cardboard box is getting a little cramped. I was thinking of moving some sort of milk-crate + duct tape mansion...


you just know the buidlers are going to charge me an arm an a leg to get the milk cartons out of the crates though:|

 

[FelixDeCat]

Originally posted by: Geocentricity
My parents' house which I'm still living in is worth close to 950k.... either you want to live in the middle of nowhere or you're poor

And Ill bet dollars to donuts that home was probably worth $450k just five years ago. Damn flippers and speculators screwed up everything.

 

[ponyo]

Originally posted by: FelixDeKat

Originally posted by: Geocentricity
My parents' house which I'm still living in is worth close to 950k.... either you want to live in the middle of nowhere or you're poor

And Ill bet dollars to donuts that home was probably worth $450k just five years ago. Damn flippers and speculators screwed up everything.

Don't be jealous.

 

[her209]

So you sell your house for $800,000 only to buy another house worth $1,000,000? Have fun paying the interest on that loan not to mention the property tax.

 

[EyeMWing]

Originally posted by: FelixDeKat

Originally posted by: Geocentricity
My parents' house which I'm still living in is worth close to 950k.... either you want to live in the middle of nowhere or you're poor

And Ill bet dollars to donuts that home was probably worth $450k just five years ago. Damn flippers and speculators screwed up everything.

5 years ago, my parents bought our house for $150k. They recently recieved an offer for $1.5M - and the place isn't even for sale. And the 1.5M offer involved demolishing the ENTIRE preexisting structure.

 

[FelixDeCat]

Originally posted by: EyeMWing

Originally posted by: FelixDeKat

Originally posted by: Geocentricity
My parents' house which I'm still living in is worth close to 950k.... either you want to live in the middle of nowhere or you're poor

And Ill bet dollars to donuts that home was probably worth $450k just five years ago. Damn flippers and speculators screwed up everything.

5 years ago, my parents bought our house for $150k. They recently recieved an offer for $1.5M - and the place isn't even for sale. And the 1.5M offer involved demolishing the ENTIRE preexisting structure.

No offense Eye, but its well known some members are prone to exaggeration. Care to provide a Zillow listing? If not, what do you think accounts for the rapid apprecition? And why do your parents still live there? :shocked:

 

[Kelemvor]

If they used a REALTOR, that person would know what the house is worth. THe value of a house is based primarily on what other similar hosues sell for in the surrounding area. Then you figure out the differences and go from there.

We obught our house for $175k or so 5 years ago and now it's valuede at about $250k. That's why you buy a hosue is its value always goes up (at least under normal circumstances).

 

[FelixDeCat]

Originally posted by: FrankyJunior
If they used a REALTOR, that person would know what the house is worth. THe value of a house is based primarily on what other similar hosues sell for in the surrounding area. Then you figure out the differences and go from there.

We obught our house for $175k or so 5 years ago and now it's valuede at about $250k. That's why you buy a hosue is its value always goes up (at least under normal circumstances).

So that being the case, to save money, one should always buy NEW.

 

[Fritzo]

Originally posted by: FelixDeKat
Not $525,000,

Not $375,000,

Not even $215,000...

$150,000 take it or leave it. Thats right - I said $150 and your lucky I dont make it $125.

So stop thinking you can charge what-ever-the-fook you want for your stinkin' crown molding and wood flooring - 'cuz I aint payin for it, aight? I dont care if you resodded the yard or redid the kitchen or what ever. I dont care. So you can take your dream number and go jump in the lake. :laugh:

Am I crazy or what? Or do you agree that even with property values on the decline everything out there is still waaaaay overpriced.

You may be renting for a while...

 

[Slew Foot]

Originally posted by: FrankyJunior
That's why you buy a hosue is its value always goes up (at least under normal circumstances).

Wrong-o. House prices fluctuate like anything else. Up some years, down some years, just like the economy. On average, a house increases about 1% above the rate of inflation, a piss-poor return for an investment.

 

[LikeLinus]

Originally posted by: EyeMWing

Originally posted by: FelixDeKat

Originally posted by: Geocentricity
My parents' house which I'm still living in is worth close to 950k.... either you want to live in the middle of nowhere or you're poor

And Ill bet dollars to donuts that home was probably worth $450k just five years ago. Damn flippers and speculators screwed up everything.

5 years ago, my parents bought our house for $150k. They recently recieved an offer for $1.5M - and the place isn't even for sale. And the 1.5M offer involved demolishing the ENTIRE preexisting structure.

Maybe now you can afford an xBox 360 and HDTV?

So full of sh1t.

 

[FelixDeCat]

Originally posted by: Fritzo

You may be renting for a while...

Ill just wait it out. :evil:

 

[Slew Foot]

Originally posted by: EyeMWing

5 years ago, my parents bought our house for $150k. They recently recieved an offer for $1.5M - and the place isn't even for sale. And the 1.5M offer involved demolishing the ENTIRE preexisting structure.

I bought a house in San Francisco for 400K back in 2001, sold it in 2005 for 750K to buyers who never looked at it since they just wanted to smash it down and build a rental unit there. Last time I went back, the house was still standing.

 

[EyeMWing]

Originally posted by: LikeLinus

Originally posted by: EyeMWing

Originally posted by: FelixDeKat

Originally posted by: Geocentricity
My parents' house which I'm still living in is worth close to 950k.... either you want to live in the middle of nowhere or you're poor

And Ill bet dollars to donuts that home was probably worth $450k just five years ago. Damn flippers and speculators screwed up everything.

5 years ago, my parents bought our house for $150k. They recently recieved an offer for $1.5M - and the place isn't even for sale. And the 1.5M offer involved demolishing the ENTIRE preexisting structure.

Maybe now you can afford an xBox 360 and HDTV?

So full of sh1t.

I don't live with my parents anymore. And they aren't exactly financially well-off, either. Selling the house would be a one-way emergency escape plan - there's NO WAY to get back into that real estate market, and moving to another market is completely out of the question to them, and moving into a smaller place is as well (because of the extremely high density of rugrats)

 

[Slew Foot]

Originally posted by: EyeMWing


I don't live with my parents anymore. And they aren't exactly financially well-off, either. Selling the house would be a one-way emergency escape plan - there's NO WAY to get back into that real estate market, and moving to another market is completely out of the question to them, and moving into a smaller place is as well (because of the extremely high density of rugrats)

Sell house for 1.35 mill profit.

Buy mansion in BFE(tennessee, kentuck, Ohio, Indiana). Put 1 million in bank and earn 50K in interest/year. Done.

Edit: again, why wont they move to somewhere else?

 

[mb]

Originally posted by: LikeLinus

Originally posted by: EyeMWing

Originally posted by: FelixDeKat

Originally posted by: Geocentricity
My parents' house which I'm still living in is worth close to 950k.... either you want to live in the middle of nowhere or you're poor

And Ill bet dollars to donuts that home was probably worth $450k just five years ago. Damn flippers and speculators screwed up everything.

5 years ago, my parents bought our house for $150k. They recently recieved an offer for $1.5M - and the place isn't even for sale. And the 1.5M offer involved demolishing the ENTIRE preexisting structure.

Maybe now you can afford an xBox 360 and HDTV?

So full of sh1t.

He never said they took the offer...

My gf's parents bought their house in Greenwich, CT over 25 years ago for $100k. They still own it today, and houses in their neighborhood are selling for over $3M. It certainly doesn't make them rich just because they live there still.

 

[FelixDeCat]

Originally posted by: Slew Foot

Originally posted by: EyeMWing

5 years ago, my parents bought our house for $150k. They recently recieved an offer for $1.5M - and the place isn't even for sale. And the 1.5M offer involved demolishing the ENTIRE preexisting structure.

I bought a house in San Francisco for 400K back in 2001, sold it in 2005 for 750K to buyers who never looked at it since they just wanted to smash it down and build a rental unit there. Last time I went back, the house was still standing.

I would never wish ill on someone, but wouldnt it be nice to know that some speculator used payment option ARM with automatic negative amortization, got in over their heads when the rate went up and the property is now being taken back by the bank. :laugh:

I really hope this isnt the story for those poor speculators, but it would be poetic justice for those who have to actually buy these homes and LIVE in them.

 

[MechaSheeba]

So build one yourself. Afraid of getting your khakis dirty?

 

[Slew Foot]

Originally posted by: FelixDeKat

I would never wish ill on someone, but wouldnt it be nice to know that some speculator used payment option ARM with automatic negative amortization, got in over their heads when the rate went up and the property is now being taken back by the bank. :laugh:

I really hope this isnt the story for those poor speculators, but it would be poetic justice for those who have to actually buy these homes and LIVE in them.

I dont wish ill on those who due to unfortunate circumstances (laid off, cancer, etc..) cant afford their homes anymore. But for all the flipper idiots who thought they could buy a home and sell it in a year for 50% profit, those guys can burn. It's actually kinda fun watching them too http://flippersintrouble.blogspot.com/

 

[FelixDeCat]

Originally posted by: Slew Foot

Originally posted by: FelixDeKat

I would never wish ill on someone, but wouldnt it be nice to know that some speculator used payment option ARM with automatic negative amortization, got in over their heads when the rate went up and the property is now being taken back by the bank. :laugh:

I really hope this isnt the story for those poor speculators, but it would be poetic justice for those who have to actually buy these homes and LIVE in them.

I dont wish ill on those who due to unfortunate circumstances (laid off, cancer, etc..) cant afford their homes anymore. But for all the flipper idiots who thought they could buy a home and sell it in a year for 50% profit, those guys can burn. It's actually kinda fun watching them too http://flippersintrouble.blogspot.com/

Bookmarked. :evil:

 

[EyeMWing]

Originally posted by: Slew Foot

Originally posted by: EyeMWing


I don't live with my parents anymore. And they aren't exactly financially well-off, either. Selling the house would be a one-way emergency escape plan - there's NO WAY to get back into that real estate market, and moving to another market is completely out of the question to them, and moving into a smaller place is as well (because of the extremely high density of rugrats)

Sell house for 1.35 mill profit.

Buy mansion in BFE(tennessee, kentuck, Ohio, Indiana). Put 1 million in bank and earn 50K in interest/year. Done.

If I were their only child, they would've done that in a moment. But I have a younger sibling, and they're also the legal guardians of my niece and nephew.

 

[LikeLinus]

Originally posted by: supafly

Originally posted by: LikeLinus

Originally posted by: EyeMWing

Originally posted by: FelixDeKat

Originally posted by: Geocentricity
My parents' house which I'm still living in is worth close to 950k.... either you want to live in the middle of nowhere or you're poor

And Ill bet dollars to donuts that home was probably worth $450k just five years ago. Damn flippers and speculators screwed up everything.

5 years ago, my parents bought our house for $150k. They recently recieved an offer for $1.5M - and the place isn't even for sale. And the 1.5M offer involved demolishing the ENTIRE preexisting structure.

Maybe now you can afford an xBox 360 and HDTV?

So full of sh1t.

He never said they took the offer...

My gf's parents bought their house in Greenwich, CT over 25 years ago for $100k. They still own it today, and houses in their neighborhood are selling for over $3M. It certainly doesn't make them rich just because they live there still.

Psst, I'm mocking him. You'd have to see the other thread where he acts like an idiot.

Of course he didn't take the offer, it's not his house. Maybe mommy and daddy will buy him an xbox for xmas. That'd be swell.

25 years verses 5 years is a huge difference. I'd be interested to know what area they live in also. We'll see if he replies.

 

[jadinolf]

My house is nothing to brag about but similar ones are on the market here for $850K or so.

Yes, IMHO they are overpriced. I paid $55K for mine in 1978 and I paid too much.

Yeah, California.