Originally Posted by Rain Man (Post 15616029)

Does anyone else get home value updates from Zillow? Zillow is loving my house right now. It just shot up almost 15 percent.

These home value estimates are all over the board so I don't put too much stock into them. Redfin is 25 percent lower than Zillow on my house, for example. But I think the Zillow estimate is much closer based on what I see in the neighborhood, and I'm tempted to sell it and go live on a yacht in Bali.

Originally Posted by Rain Man (Post 15616042)

Yeah, houses have been selling over the asking price in Denver for years. I guess supply just can't catch up with demand, and low interest rates are ramping demand up even higher.

I did a housing study for a city here in Colorado a while back, and we started tracing back what was causing the big increases. To our surprise, we're still feeling impacts from the Great Recession. Construction shut down for a while and population growth didn't. For states with positive in-migrant flows from other areas, it's created a wave of home demand (buying and renting) that keeps getting bigger, and losing basically two years of construction in the 2009/2010 time frame was a big deal that's still reverberating through the market today.

Originally Posted by Bugeater (Post 15615583)

He gone. Guy has to have the record for the most thread bannings in CP history.

Originally Posted by tredadda (Post 15616051)

We get those as well. What I get annoyed with is the constant calls, texts, and flyers in the mail from investors trying to buy our house.

Originally Posted by vailpass (Post 15615889)

It would be frigging insane to be trying to buy a house right now. Buyers are offering well above asking price and waiving the inspection just to get an offer accepted. Can you imagine doing that?

Originally Posted by Lzen (Post 15616200)

We did that when we bought ours a little over a year ago, though I would say we bid slightly above asking. But yeah, we waved the inspection. But that was November 2019 before all this Covid crap started screwing with the market. We did it because our realtor whom we trust advised us to do so. We knew it was a little bit of a gamble but it was the home we had been searching months on end to find.

Originally Posted by Rain Man (Post 15616029)

Does anyone else get home value updates from Zillow? Zillow is loving my house right now. It just shot up almost 15 percent.

These home value estimates are all over the board so I don't put too much stock into them. Redfin is 25 percent lower than Zillow on my house, for example. But I think the Zillow estimate is much closer based on what I see in the neighborhood, and I'm tempted to sell it and go live on a yacht in Bali.

Originally Posted by vailpass (Post 15616207)

I’m glad it worked out for you, it’s great you guys got a house. It’s a definite plus you had a realtor you trusted.

It seems too risky to me but if I needed a house I might feel different. It’s so nuts right now. Houses here are getting multiple offers within an hour of listing and being sold the same day. Californians and Canadians.

Originally Posted by Lzen (Post 15616200)

We did that when we bought ours a little over a year ago, though I would say we bid slightly above asking. But yeah, we waved the inspection. But that was November 2019 before all this Covid crap started screwing with the market. We did it because our realtor whom we trust advised us to do so. We knew it was a little bit of a gamble but it was the home we had been searching months on end to find.

Originally Posted by Bugeater (Post 15616224)

Jeezus, my Zestimate has gone up $9244 in the past 30 days. Unfortunately the only person that benefits from all this is the county assessor.

Originally Posted by displacedinMN (Post 15616391)

I challenged that a year ago. Saying I had done no improvements to my new house their valuation went up 20% They will tax us out of our houses someday

Originally Posted by vailpass (Post 15615889)

It would be frigging insane to be trying to buy a house right now. Buyers are offering well above asking price and waiving the inspection just to get an offer accepted. Can you imagine doing that?

Originally Posted by Halfcan (Post 15616552)

I was a Realtor for over a decade and I would never recommend this. Pretty bad financial decision.

The housing market is on a huge bubble. Rent for a year and then buy when prices go down.