Will this housing bubble pop already?

Crazy times is correct. I'm stoked for my buddy in Boise, he just got up to a $200K blank cheque.

 

Problem is when you try and buy a new house. We aren't selling but keeping an eye on the zillow estimate. Up 55k in 9 months of owning the house but pointless to even think about upgrading. Also, yes I know...Zillow..is what it is short of having an estimate done.

 

He and his wife already have their "forever" home & property.
This is just going to give them $$ to get it fully done the way they want.

 

That's rad. Stoked (and jealous lol) for them

 

and here i am, looking at real estate in San Diego

 

My cousin and his wife bought a house on Merritt Island (Florida) for the same $$$ they were renting an apartment in San Diego for.

 

When I was looking 5 years ago I refused to get into bid wars. My wife wound up finding the property we eventually bought by eliminating the 'duration on market' option.

The place had been on the market for 6 months, apparently there was a bidding war but the person who won backed out. They then went down the list and each person who bid had found another place.

The realtor did a terrible job and never relisted the property so it kind of languished except for tire kickers for months.

I put in an offer %20 less than asking, closed 30 days later.

I have been very lucky with my real estate timing. Bought in Brooklyn in 2011, sold in 2016. Bought in the NJ burbs in 2016 and no plans to move anytime soon with current market prices!

 

Cough up the kidney, Chachi!
Or just sub-let someone's garage. Cot, Bicycle, Clothes.

 

too bad your mom isn't in the UC house anymore.
i guess in the end, it'll be good for the retirement portfolio

 

Yeah, I agree. That would have been a good location for you.
Take a deep breath and buy the condo. Let me know if you want a partner on it, as I'd consider it.

 

similar kinda story....wife's co-worker was like check out this town at the start, and I was like I'm not moving to NJ. Then we struck out too many times, that I was ready to throw in the towel. Checked out the town, and was like this could work.

And it's all about timing, right? House was on the market for 3 months. Dude was a retired doctor and built a mansion in FL, and was just ready to be done. The realtor called me up a couple hours later and was like you were the last one to look at it, and he's about to drop the price 30% on Monday, let me know if you want it. Sure enough monday morning the price dropped and we was like, yeah...i'll take it

It was my #1 house from that weekend, my wife's third on her list, but the price was too hard to pass. I knew it would be be work in progress, as shown, but overall its been good to us. =)

 

Was planning on buying in NC as part of a move. $50k over asking will get you in the ball park. Hell no, we're renting.

I'm putting my rental property in El Paso up for sale. My realtor said the El Paso market is insane too and there are only about 400 homes for sale in the entire city!

 

Of course don't have to answer but why sell now?

 

The market is hot so, in theory, I can sell quickly and for a nice profit. I have no problem putting the money into a different investment that doesn't need the sprinkler system fixed.

 

Escalation clauses are the debil.....

 

roger that. makes sense.

 

Depends on which side of the clause you are on...

 

Zillow estimates are for amateurs. Prices are not up to date.

 

But where are you going to live after you sell? Rent? That will cost you more than owning right now.

 

idk... it was dead on for my dad's house when he bought and was the same for ours. Of course ymmv