Family can't move into house they bought

[TribalElder]

Oh yeah,

Reverse mortgages I've heard of those before

[rabblerouser]

'm just saying, I want to see this 4 bedroom house worth $460,000.

Buddha ****, I'm sleeping in a 6 bedroom worth 2/3 of that...

[DaneMcCloud]

Originally Posted by rabblerouser

'm just saying, I want to see this 4 bedroom house worth $460,000.

Buddha ****, I'm sleeping in a 6 bedroom worth 2/3 of that...

In most cases, the real estate prices in California (outside of the $2+ million homes) aren't reflective of the quality or size of the home at all. You're paying for the "privilege" of living in California or in simple terms, the land.

My home is worth 2-3 times that of family that lives in Leawood but our home is nowhere near 2-3 times as nice or even "nicer" at all, nor do we have an HOA nor modern conveniences of those that live in that area.

I've never understood why people that don't need to live in California, live in California. There's a freaking surcharge for every aspect of life on top of the highest taxes in the union. And while sure, Disneyland and the beach are great, unless you can afford to live at the beach, it means nothing. The nearest beach is 45 minutes from my home and I'm lucky if I make it down there 4 times a year and many years, that number has been zero.

Originally Posted by Graystoke

Sellers market for sure. I recently put my Mom and Dads house on the market. It was in a great historic area, great lot on a Boulevard but needed ton of work. We listed it and there was 7 offers on the table within 5 days, all significantly above asking. We took the biggest offer obviously at 15K above asking. And no we didn't undervalue this property.
It blew my mind how quick it went. There is absolutely nothing that stays on the market long around here.

There are houses in my neighborhood and others that are going same-day for $100k over asking price. It's insanity right now because investors are looking to take advantage of these super-low interest rates before they disappear.

Originally Posted by Chief Pote

Never pay cash. Lots of alarms should have been going off on this one.

Cash deals are extremely common in California. I had a friend that was looking recently that lost out on more than a dozen homes that were $1+ million because buyers stepped in with cash.

[Bearcat]

Originally Posted by DaneMcCloud

I've never understood why people that don't need to live in California, live in California. There's a freaking surcharge for every aspect of life on top of the highest taxes in the union. And while sure, Disneyland and the beach are great, unless you can afford to live at the beach, it means nothing. The nearest beach is 45 minutes from my home and I'm lucky if I make it down there 4 times a year and many years, that number has been zero.

Yeah, I've browsed a bit after applying for a job or two in Southern California and it's just insane.... one job was a potential 25% raise, but 95% of that would have gone straight to a higher mortgage just to be within an hour drive of work, much less gas prices, the money thrown down the shitter for personal property taxes, the traffic and all the ****ing people, and on and on.

And I personally love LA for several reasons, but seriously doubt I'll ever live there for any real length of time (much like Chicago).

[Chief Pagan]

Originally Posted by DaneMcCloud

In most cases, the real estate prices in California (outside of the $2+ million homes) aren't reflective of the quality or size of the home at all. You're paying for the "privilege" of living in California or in simple terms, the land.

My home is worth 2-3 times that of family that lives in Leawood but our home is nowhere near 2-3 times as nice or even "nicer" at all, nor do we have an HOA nor modern conveniences of those that live in that area.

I've never understood why people that don't need to live in California, live in California. There's a freaking surcharge for every aspect of life on top of the highest taxes in the union. And while sure, Disneyland and the beach are great, unless you can afford to live at the beach, it means nothing. The nearest beach is 45 minutes from my home and I'm lucky if I make it down there 4 times a year and many years, that number has been zero.

I guess a lot of it all depends on your particular situation and what you are looking for. So I live in a modest 3 bed/2 bath house that would sell for well north of a half million. Yes, most of that is the lot. That really hit home when I found out my home owners replacement policy only covers ~$150k or so for the house because you don't have to rebuild the lot if everything burns down in a fire.

Sure, I could probably buy something twice as big in KC, but what would I do with that? I'm not sure I need twice as nice either. And I don't want a HOA.

I'm not sure what modern convenience I'm missing.

I live in a pleasant University town and work ten minutes from my office when I'm not working remotely. It has nice parks, nice green belts, nice schools, no crime.

No snow, no ice. Nine months of constant sunshine. The town is surrounded by farmland so I'm at minimal risk of the fires, although it was pretty smoky last fall.

Yes, the cost of living is higher. If I was struggling to raise a family living paycheck to paycheck, I would certainly be looking for some place cheaper.

Before a bad back sidelined me, I spent a huge number of hours rock climbing in Yosemite and other locations in northern California. No McMansion in Leawood/Overland park is going to make up for that, for me. I was also fortunate to have a flexible schedule so I mostly avoided weekend traffic.

And again before I slowed down, I enjoyed that I could drive down to SF in only 90 minutes (if I left in the afternoon), have dinner, have a couple of cocktails, see a live show, and then make it back home in 90 minutes. SF is a really cool place to visit.

Your mileage may vary.

[tredadda]

Originally Posted by DaneMcCloud

In most cases, the real estate prices in California (outside of the $2+ million homes) aren't reflective of the quality or size of the home at all. You're paying for the "privilege" of living in California or in simple terms, the land.

My home is worth 2-3 times that of family that lives in Leawood but our home is nowhere near 2-3 times as nice or even "nicer" at all, nor do we have an HOA nor modern conveniences of those that live in that area.

I've never understood why people that don't need to live in California, live in California. There's a freaking surcharge for every aspect of life on top of the highest taxes in the union. And while sure, Disneyland and the beach are great, unless you can afford to live at the beach, it means nothing. The nearest beach is 45 minutes from my home and I'm lucky if I make it down there 4 times a year and many years, that number has been zero.



There are houses in my neighborhood and others that are going same-day for $100k over asking price. It's insanity right now because investors are looking to take advantage of these super-low interest rates before they disappear.



Cash deals are extremely common in California. I had a friend that was looking recently that lost out on more than a dozen homes that were $1+ million because buyers stepped in with cash.

This is having effects across the country. Those who can't afford to stay in California or are tired of it are cashing out and moving eastward causing housing and cost of living to skyrocket in places like Oregon, Montana, Idaho, and Utah to name a few. I am a part of that Nextdoor app for my area and I swear almost daily someone introduces themselves and mentions how they just moved from California. They aren't moving into smaller, older homes either. They are moving into new ones in new developments that "start" at $500K and up.

[cooper barrett]

I can see them buying nice houses as CA houses sell for alot but the cost of living? Did your gas bill go up because a couple moved from Compton?

Originally Posted by tredadda

This is having effects across the country. Those who can't afford to stay in California or are tired of it are cashing out and moving eastward causing housing and cost of living to skyrocket in places like Oregon, Montana, Idaho, and Utah to name a few. I am a part of that Nextdoor app for my area and I swear almost daily someone introduces themselves and mentions how they just moved from California. They aren't moving into smaller, older homes either. They are moving into new ones in new developments that "start" at $500K and up.

[tredadda]

Originally Posted by cooper barrett

I can see them buying nice houses as CA houses sell for alot but the cost of living? Did your gas bill go up because a couple moved from Compton?

Property taxes are a part of it, but overall the cost of goods and services are going up rapidly as the population explodes in the area. This also puts more demand on the existing power grid which forces prices up. Fortunately our utilities are not as high as other places I have lived.

[htismaqe]

Hey, at least they were able to buy a house.

I've been interested in 11 properties so far and all of them have sold before I can make an offer. The longest any of them have been on the market is 4 days.

[neech]

Originally Posted by htismaqe

Hey, at least they were able to buy a house.

I've been interested in 11 properties so far and all of them have sold before I can make an offer. The longest any of them have been on the market is 4 days.

You snooze you lose.

Tell your agent to inform you when properties are coming up to be listed so you can get a bit of a head start.

[htismaqe]

Originally Posted by neech

You snooze you lose.

Tell your agent to inform you when properties are coming up to be listed so you can get a bit of a head start.

I live 1200 miles from my target market. We're having trouble getting timely communication with realtors at all, let alone housing updates. We're not a priority, there's too many people that can do this face-to-face, the realtors aren't hurting for business.

BTW, I'm not snoozing at all. You're WAY off base.

[neech]

Originally Posted by htismaqe

I live 1200 miles from my target market. We're having trouble getting timely communication with realtors at all, let alone housing updates. We're not a priority, there's too many people that can do this face-to-face, the realtors aren't hurting for business.

BTW, I'm not snoozing at all. You're WAY off base.

That was a slight teasing you on my part. And that is a heck of a situation you have. Good luck though.

[htismaqe]

Originally Posted by neech

That was a slight teasing you on my part. And that is a heck of a situation you have. Good luck though.

No problem man. It's just a real source of frustration for me right now.

We originally wanted to move to SE Texas but that market was non-existent (nothing for sale that really fit our needs) and then my job came calling about getting me closer to the action, which is North Carolina.

We're looking at places all over SE NC and northern SC and there's houses for sale but like I said, we're in Iowa, so the realtors don't look at us as "real" business and they aren't very attentive. They don't have to be because houses are literally flying off the market so fast.

[Graystoke]

Originally Posted by htismaqe

I live 1200 miles from my target market. We're having trouble getting timely communication with realtors at all, let alone housing updates. We're not a priority, there's too many people that can do this face-to-face, the realtors aren't hurting for business.

BTW, I'm not snoozing at all. You're WAY off base.

Sellers market for sure. I recently put my Mom and Dads house on the market. It was in a great historic area, great lot on a Boulevard but needed ton of work. We listed it and there was 7 offers on the table within 5 days, all significantly above asking. We took the biggest offer obviously at 15K above asking. And no we didn't undervalue this property.
It blew my mind how quick it went. There is absolutely nothing that stays on the market long around here.

[htismaqe]

Originally Posted by Graystoke

Sellers market for sure. I recently put my Mom and Dads house on the market. It was in a great historic area, great lot on a Boulevard but needed ton of work. We listed it and there was 7 offers on the table within 5 days, all significantly above asking. We took the biggest offer obviously at 15K above asking. And no we didn't undervalue this property.
It blew my mind how quick it went. There is absolutely nothing that stays on the market long around here.

Yep.

My buddy's brother sold a house in SE Georgia recently. It was on the market for ELEVEN HOURS and sold for 20% over asking price.