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Old 03-03-2021, 05:37 PM   #87781
Brent
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Originally Posted by Fernando View Post
Trying to buy a house right now but the market is fucking stupid.
there is a shit load of housing inventory in Dallas. our market was red-hot like 3 years ago, but it's really slowed down.
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Old 03-03-2021, 05:43 PM   #87782
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I wouldn’t buy a house now Unless I know the owner of the house & they want to sell now without using a house realtor
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Old 03-03-2021, 05:47 PM   #87783
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We'll see, the reasoning behind the first bubble would not be the reasoning behind this one
Oh agreed, but the all time low interest rates and helicopter money to basically everyone has driven up the prices of homes dramatically.

In a really fucked up way it has priced serial renters out of being able to afford a starter home because prices have doubled in the last 5-7 years.

We bought our tiny starter home for ~80k back in 2013 at a solid discount. It's going rate was probably ~120k a year or two ago and now Zillow estimates $170k.
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Old 03-03-2021, 05:49 PM   #87784
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You can get rid of PMI later, youll be fucked if you price yourself out of the market in the time it takes you to save 20%. Plus with the way the economy is right now youd be better saved using that money in index funds anyway.
You're right, I just hate throwing money every month into nothing. That's why I don't want to rent anymore!
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Old 03-03-2021, 05:57 PM   #87785
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PMI isn't even that much more at current rates. We did 10% and 20% research and not that large of a difference. Jersey also has the highest property tax rates so that sucks also.

The prices are way over ask but if the banks don't asses the value that high then you won't get a mortgage for that amount so that helps a little. If someone made an all cash offer then that doesn't come into play.
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Old 03-03-2021, 06:15 PM   #87786
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it seems we're on a real high-wire balancing act of juggling low interest rates, eviction/foreclosure protections, and staving off inflation (i am stupid and this is just a layman observation). if we see the housing market get flooded with supply again, isn't there a chance it won't be actually cheaper for buyers - either due to higher rates or inflation (again, i am stupid. please explain to me how/why this is incorrect)? can a non-stupid person explain/predict how the housing market is going to look over the next few years?
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Old 03-03-2021, 06:32 PM   #87787
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Nobody smart will tell you they can predict it with any certainty. There are definitely certain factors you can look at to make assumptions, but there is so much uncertainty still around COVID recovery and the future of work generally that nobody has answers for which will greatly impact this (and everything).

As with most things in life, if someone seems strangely confident in something and is eager to pass along that info to you, take that information with a massive grain of salt.

My advice is if you want to buy a house and feel ready to buy a house and can comfortably afford to buy a house, go ahead and buy a house if you find something you love. You can always find reasons not to do things and that's a shitty way to live life.

Last edited by Rob S; 03-03-2021 at 06:38 PM.
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Old 03-03-2021, 06:34 PM   #87788
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worthless subhuman trash who just compared wall ball to the Holocaust (days after threatening another poster's children). There is no schtick - that's his actual, real "personality".
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Old 03-03-2021, 06:36 PM   #87789
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yogi berra "it's tough to make predictions, especially about the future" caveat is in place. now predict!
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Old 03-03-2021, 06:37 PM   #87790
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Quote:
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Nobody smart will tell you they can predict it with any certainty.
^^^

I work in real estate and just shrug my shoulders like an idiot when people ask me.
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Old 03-03-2021, 07:22 PM   #87791
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If I didn't have 2 large dogs that need a fenced yard, I would be selling right now. My house is estimated to be worth 120k more thank what I bought it for 6 years ago. Unfortunately that would mean I have to find a new place which means buying in a terrible market for buyers. Doubt I could find a rental that fits my needs right now.
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Old 03-03-2021, 07:29 PM   #87792
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I'm planning on buying a house next year and now y'all are stressing me out.
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Old 03-03-2021, 07:37 PM   #87793
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In a perfect world my wife and I are hoping to build a house like 10 years from now, but the crazy market has us considering trying to do that sooner and sell our house for like $100k more than we bought it. Unfortunately building costs are pretty high too and decent land is hard to come by.
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Old 03-03-2021, 07:46 PM   #87794
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Quote:
Originally Posted by dg151 View Post
I'm planning on buying a house next year and now y'all are stressing me out.
where you looking to buy? there are lots of good areas in Dallas, especially if you don't want kids.
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Old 03-03-2021, 07:49 PM   #87795
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Originally Posted by badger View Post
In a perfect world my wife and I are hoping to build a house like 10 years from now, but the crazy market has us considering trying to do that sooner and sell our house for like $100k more than we bought it. Unfortunately building costs are pretty high too and decent land is hard to come by.
We talked to a builder Sunday and they called me yesterday to raise the price by $7k.
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Old 03-03-2021, 08:08 PM   #87796
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We talked to a builder Sunday and they called me yesterday to raise the price by $7k.
Dang. Hope you're getting a golf simulator room at least.

Do you already have land or does the builder own it?
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Old 03-03-2021, 08:12 PM   #87797
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We lucked out when we bought in September. I'm not sure how accurate Redfin estimates are but according to them the house went up 166k and we haven't even started our kitchen renovation yet. I don't believe it though.

Our old dishwasher just broke. Not the end of the world since we'll have a new one when kitchen gets done, but now I'm handing washing dishes for the immediate future. Just realized staying on my diet could be quite hard when we're between kitchens.
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Old 03-03-2021, 08:14 PM   #87798
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I'm not sure how accurate Redfin estimates are
they are usually not the most accurate; ask your realtor for comps when that property tax bill comes.
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Old 03-03-2021, 08:14 PM   #87799
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Dang. Hope you're getting a golf simulator room at least.

Do you already have land or does the builder own it?
The builders own it. A legit simulator will run at least ten grand so, thats gonna be a hard sell with the wife lol.
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Old 03-03-2021, 08:18 PM   #87800
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My daughters husband told me when the market dumped hed buy the house im renting them. If looks could kill.
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