Family can't move into house they bought

[OKchiefs]

Originally Posted by htismaqe

We had originally planned on lining up a visit to look in person but we can't make travel arrangements fast enough.

At this point, we're down to putting blind offers in or just giving up.

What kind of timeframe are you on? I was in the market to buy my first house and didn't want to even take part in the feeding frenzy that's going on right now, so I just ended up building a new home. It will obviously take a little longer but I was able to avoid having to put in offers and getting rejected countless times.

[Lzen]

Originally Posted by OKchiefs

What kind of timeframe are you on? I was in the market to buy my first house and didn't want to even take part in the feeding frenzy that's going on right now, so I just ended up building a new home. It will obviously take a little longer but I was able to avoid having to put in offers and getting rejected countless times.

Isn't the price on lumber still unusually high right now? Seems like not a good time to build.

[displacedinMN]

Originally Posted by Lzen

Isn't the price on lumber still unusually high right now? Seems like not a good time to build.

Lumber prices way up

https://www.kare11.com/article/news/...1-e78fb9c29997

Home builders are used to putting things up, but these days they wouldn’t mind at least one thing coming down.

Since last April, lumber costs have spiked 180%, according to the National Association of Home Builders, increasing the cost of building an average home by $24,386.

“It’s stressful,” Mark Scherer, owner of Scherer Brothers Lumber Company says. “It’s stressful across the board, for the builders, the consumers and for the suppliers, because you’re just scrambling to keep up.”

Scherer points to one of the most common items used in new homes and remodels: oriented strand board, or OSB, used in floors, walls, and roofs.

“This cost about $15 last year in March,” Scherer says pointing at a stack of OSB. “Now it’s about $45, $47 a sheet.”

Even the price of basic 2x4 studs has spiked.

“They used to be $3 a stud and now they're $6 or $8, depending on what grade they are,” Scherer Lumber’s Terry Olynyk says.

Supplies tightened last spring when COVID-19 forced mill shutdowns, then tightened again when stay-at-home and low-interest rates caused a boom in construction.

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“Labor’s up, concrete’s up, you can't get fuse box panels right now,” Scherer says.
Contractor Ryan Seifert has been riding the price hikes like everyone else in the building industry.

“This is 20th year for me, I haven't seen this,” the owner of Cyclone Construction says.

Still, Seifert says lumber prices don't seem be scaring off customers.
“The phone hasn't stopped ringing during this thing, even though the costs are up,” Seifert says.

Scherer doesn’t see an easing in demand or prices for at least for the next six to nine months.

“Look at interest rates, they’re ridiculously low,” Scherer said. “Money’s cheap, people are going to keep building.”

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[OKchiefs]

Originally Posted by Lzen

Isn't the price on lumber still unusually high right now? Seems like not a good time to build.

Perhaps, but still comparable to owned homes we see on the market. We also got in at the right time where we're building, since paying our deposit and locking in the purchase price two months ago the starting cost with our builder has gone up almost $20k.