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Old 02-25-2021, 1:14pm   #1
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Default Krazy mortgages......and BUX.....

Since the .gov is attempting to keep things going, and lowering interest rates on worthless currency down to ~2% or so......and so housing prices are taking off anywhere but big cities, as the population shifts south/outta there....

and us folks in Floriduh/similar locations are getting really high prices now....the issue IS.....

WTF happens in the near/far future.......

I moved south here to Floriduh on account of uncle arthurRONGus..... some 23 years ago......watched my 72k house go to 150k then back down to about 70k, and now it's at 240k...or so......WTF????

watt yawl's readings look like???


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Old 02-25-2021, 1:19pm   #2
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Here's one for ya:
https://www.realtor.com/realestatean...9_M95930-42595
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Old 02-25-2021, 1:49pm   #3
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This is the area we're looking at. This is one of the loony palaces we came across in our quest.
Scott

https://www.realtor.com/realestatean...1_M65512-80400

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Old 02-25-2021, 3:20pm   #4
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Originally Posted by mrvette View Post
Since the .gov is attempting to keep things going, and lowering interest rates on worthless currency down to ~2% or so......and so housing prices are taking off anywhere but big cities, as the population shifts south/outta there....

and us folks in Floriduh/similar locations are getting really high prices now....the issue IS.....

WTF happens in the near/far future.......

I moved south here to Floriduh on account of uncle arthurRONGus..... some 23 years ago......watched my 72k house go to 150k then back down to about 70k, and now it's at 240k...or so......WTF????

watt yawl's readings look like???



Can somebody use their Gene to English translator on that please? Mine isn't working right now.

As for the bolded part, who cares? When we moved here we told the kids the house and everything in it will be their problem someday; not my problem.
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Old 02-25-2021, 4:43pm   #5
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Originally Posted by simpleman68 View Post
This is the area we're looking at. This is one of the loony palaces we came across in our quest.
Scott

https://www.realtor.com/realestatean...1_M65512-80400

If you buy it, I will give you $100 for that blue granite lion
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Old 02-25-2021, 5:52pm   #6
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Can somebody use their Gene to English translator on that please? Mine isn't working right now.
The government is trying to stimulate the economy by lowering interest rates, which is driving up single family home prices everywhere but the city as everyone flees for the suburbs.

For some reason I can't quite understand Gene relocated to Florida from a northern state 23 years ago. (It has something to do with a creepy uncle)

The value of his house went up, back down and then back up, surpassing the previous increase by $90k.

He also would like to know what the value of our homes have done. I'm suspect he's preparing a spread sheet and possibly an amortization schedule based on a 30 year fixed rate conventional FHA loan.

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Old 02-25-2021, 5:55pm   #7
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The government is trying to stimulate the economy by lowering interest rates, which is driving up single family home prices everywhere but the city as everyone flees for the suburbs.

For some reason I can't quite understand Gene relocated to Florida from a northern state 23 years ago. (It has something to do with a creepy uncle)

The value of his house went up, back down and then back up, surpassing the previous increase by $90k.

He also would like to know what the value of our homes have done. I'm suspect he's preparing a spread sheet and possibly an amortization schedule based on a 30 year fixed rate conventional FHA loan.

Thanks!

Our FL house has gone up in value more than 20% in two years. No mortgage and it's likely our last house, so I don't really care what it's worth.
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Old 02-25-2021, 6:01pm   #8
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Thanks!

Our FL house has gone up in value more than 20% in two years. No mortgage and it's likely our last house, so I don't really care what it's worth.
I've been in my current house since '97 which I purchased for $115,000. As of July last year the appraised value was $302,000.

Due to a divorce in July '20, I was forced to refinance and pull equity out to satisfy the divorce decree.

The joint was paid for. Life goes on, I go to work.
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Old 02-25-2021, 7:07pm   #9
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Bought our current home in 2018 for 510k..about a month ago, same house down the street sold for 775k.

Realtor neighbor said we should be about 1mil in ~2 years.

silly market
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Old 02-25-2021, 7:16pm   #10
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zillow pegs ours at 852k today.

paid way less than that in 2010. have put some money into it over time (roofs, stucco, boilers, water treatment system, interior renovations, new shop).

but it's not for sale.
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Old 02-25-2021, 7:42pm   #11
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Quote:
Originally Posted by ThomasTheGiraffe View Post
The government is trying to stimulate the economy by lowering interest rates, which is driving up single family home prices everywhere but the city as everyone flees for the suburbs.

For some reason I can't quite understand Gene relocated to Florida from a northern state 23 years ago. (It has something to do with a creepy uncle)

The value of his house went up, back down and then back up, surpassing the previous increase by $90k.

He also would like to know what the value of our homes have done. I'm suspect he's preparing a spread sheet and possibly an amortization schedule based on a 30 year fixed rate conventional FHA loan.

I moved south be kause of uncle ArthurRONGus.....and 4' of snow in my driveway.....sold the house for little more than what I paid.....but I just could not face another northern winter.......and in fact I should have moved much further sourth.....but at age 76 now....it is TDL / too damn late........
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Old 02-25-2021, 7:53pm   #12
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I'm selling a rental in So. Cal for a nice profit after holding it for six years. Perfect timing with interest rates low and house prices high. Looks like the tenants will buy it before it goes on the market. This severs my last tie to Kali.
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Old 02-25-2021, 8:01pm   #13
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I've been wondering when the bubble will burst and I don't think it will. The way the .gov is printing money, inflation will catch up first.
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Old 02-25-2021, 8:21pm   #14
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We're in the place for $140K. At the top of the first bubble we were appraised at $305K which fell to the current 205K.
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Old 02-25-2021, 8:32pm   #15
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Single family houses in my development (approx 1400 residential units from single family homes to condos) are selling for above asking price before they even hit the multi list. Realtors have lists of people looking to buy here. According to the latest Zillow rating, my modest patio home has increased by almost 30% in three years.
All I know is that there are a shit load of people looking to get out of blue states and into Florida
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Old 02-25-2021, 8:47pm   #16
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I'm selling a rental in So. Cal for a nice profit after holding it for six years. Perfect timing with interest rates low and house prices high. Looks like the tenants will buy it before it goes on the market. This severs my last tie to Kali.


The kid just bought his first house the other day. The market is so crazy that he not only made a full price offer, but at the encouragement of his agent the offer also included an escalation clause: basically if the sellers received another offer he would automatically beat it by $1000 up to a max of $10000 over asking. Turns out there was a competing offer, and that offer included a similar escalation clause, only theirs was $500 over and capped at $9000 over asking. So he beat them out by $1000.

It's almost like buying a house on eBay.
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Old 02-25-2021, 9:51pm   #17
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The kid just bought his first house the other day. The market is so crazy that he not only made a full price offer, but at the encouragement of his agent the offer also included an escalation clause: basically if the sellers received another offer he would automatically beat it by $1000 up to a max of $10000 over asking. Turns out there was a competing offer, and that offer included a similar escalation clause, only theirs was $500 over and capped at $9000 over asking. So he beat them out by $1000.

It's almost like buying a house on eBay.
Gotta know how to play the game.
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Old 02-25-2021, 11:50pm   #18
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there are no houses that stay on the market here... List for $230K - sell for $255k+. For list of $400k sell for $450K.

Houses are now shown as "pre market" with people buying them before listing date even sight unseen. Less than 3-4 weeks total inventory.

Old town house I bought in 2007 for $125k, sold for $139k VA terms in 2014.
Was just VA foreclosed and being sold "as is" for $175K - WTF!!!!

Nut's here now and I've a big one to dump on market soon
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Old 02-26-2021, 12:18am   #19
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Here in Comifornia, rents in San Fransisco have dropped 30%, as most are leaving the big cities. My house that my wife and I bought in 2015 in Woodland for $475k, is now up to $700k+. We also did a refi from 3.75% to 2.75%.
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Old 02-26-2021, 7:14am   #20
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Here in Comifornia, rents in San Fransisco have dropped 30%, as most are leaving the big cities. My house that my wife and I bought in 2015 in Woodland for $475k, is now up to $700k+. We also did a refi from 3.75% to 2.75%.
Had not heard THAT, but watt with all the shit in the streets, I not surprised.....and of course all the computer types are tele-commuting these daze.....
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