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Most Online39,925 Dec 30th, 2023
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Re: Current Housing/Appraisal Craze
[Re: 1ShotNoKills]
#13989960
05/08/21 12:03 PM
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Joined: Apr 2017
Posts: 12,111
BCBassCat
TFF Guru
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TFF Guru
Joined: Apr 2017
Posts: 12,111 |
So we could sell and make 100k right now. Then put all of in Bitcoin for a year. We would be able to Trump upgrade in 2022.
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Re: Current Housing/Appraisal Craze
[Re: 1ShotNoKills]
#13989962
05/08/21 12:10 PM
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Joined: Oct 2010
Posts: 14,702
Frenzy
TFF Guru
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TFF Guru
Joined: Oct 2010
Posts: 14,702 |
People are nuts.....they are putting in all cash offers ignoring appraisals. It's going to end badly.
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Re: Current Housing/Appraisal Craze
[Re: 1ShotNoKills]
#13989979
05/08/21 12:32 PM
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Joined: May 2007
Posts: 40,414
WAWI
TFF Guru
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TFF Guru
Joined: May 2007
Posts: 40,414 |
The way things are going you better find a way to make more money, it wont go the other way.
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Re: Current Housing/Appraisal Craze
[Re: 1ShotNoKills]
#13989990
05/08/21 12:51 PM
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Joined: Jan 2005
Posts: 12,904
DI
TFF Guru
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TFF Guru
Joined: Jan 2005
Posts: 12,904 |
I’m in realestate and we are seeing the obvious signs of a BIG nasty correction. Prices are nuts, builders want to be developers (always a bad sign) and buyers are offering way over appraised value.
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Re: Current Housing/Appraisal Craze
[Re: 1ShotNoKills]
#13989996
05/08/21 12:56 PM
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Joined: Dec 2003
Posts: 1,253
presley
Extreme Angler
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Extreme Angler
Joined: Dec 2003
Posts: 1,253 |
Just sold a place we bought new 3 years ago. Up 100K and it didn’t appraise, but in the time since the sales process started and closing the actual market value had increased 15K. I was almost hoping it would bust and we could start another sale. Crazy times. Appraisals need to catchup
Last edited by presley; 05/08/21 12:58 PM.
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Re: Current Housing/Appraisal Craze
[Re: 1ShotNoKills]
#13990025
05/08/21 01:44 PM
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Joined: Sep 2006
Posts: 10,032
Spiderman
TFF Guru
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TFF Guru
Joined: Sep 2006
Posts: 10,032 |
People that are buying houses around me are mostly from California. Sold a house worth millions there, paying cash here.
Appraisal is irrelevant.
The Truth is six of the seven Dwarfs are not Happy!
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Re: Current Housing/Appraisal Craze
[Re: 1ShotNoKills]
#13990039
05/08/21 01:57 PM
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Joined: Jan 2005
Posts: 14,482
jcarring99
TFF Guru
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TFF Guru
Joined: Jan 2005
Posts: 14,482 |
I’m not sure about a huge correction. 33 percent of all corporate headquarters are here in Texas and more coming everyday. Until that slows we won’t have a great deal to worry about IMO. There may be some slowing down and what not but we gained two seats in Congress for a reason. People had rather live here than elsewhere. I would suspect that if we keep our current state policies that will continue for the foreseeable future. I mean it crossed my mind to sell and invest the money for retirement to hedge against possible housing bubble. I think I’m good for now so won’t yet
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Re: Current Housing/Appraisal Craze
[Re: jcarring99]
#13990041
05/08/21 02:01 PM
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Joined: May 2007
Posts: 40,414
WAWI
TFF Guru
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TFF Guru
Joined: May 2007
Posts: 40,414 |
I’m not sure about a huge correction. 33 percent of all corporate headquarters are here in Texas and more coming everyday. Until that slows we won’t have a great deal to worry about IMO. There may be some slowing down and what not but we gained two seats in Congress for a reason. People had rather live here than elsewhere. I would suspect that if we keep our current state policies that will continue for the foreseeable future. I mean it crossed my mind to sell and invest the money for retirement to hedge against possible housing bubble. I think I’m good for now so won’t yet Problem is you gotta live somewhere and repurchase will eat up money unless you downsize way down or own another house already . I'm considering selling my rentals but then what I do with cash, stick it in market at highs? I'll say this, the current property tax levels are eating up rental roi.
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Re: Current Housing/Appraisal Craze
[Re: Frenzy]
#13990044
05/08/21 02:02 PM
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Joined: May 2002
Posts: 82,629
Bob Davis
Bunkeroid Bob
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Bunkeroid Bob
Joined: May 2002
Posts: 82,629 |
People are nuts.....they are putting in all cash offers ignoring appraisals. It's going to end badly. Yep, this. During the housing market crash, Texas fared well compared to Californicate. Why? Because Californicate and a bunch of other blue states had way overinflated housing prices. The bubble burst and alas, there was nothing tangible to back up the inflated prices. Now, we (Texas) are going to try the same thing? Duh. Oh, it is fun to say, "Lookee, I made 100% profit on selling my house, yee-haw". But you will have to pay 100% over the actual cost of your new home. It is as stupid as a bitcoin Ponzi scheme.
Foxtrot Juliet Bravo
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Re: Current Housing/Appraisal Craze
[Re: Bob Davis]
#13990052
05/08/21 02:10 PM
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Joined: Jan 2012
Posts: 15,797
ko bass attack 27
TFF Guru
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TFF Guru
Joined: Jan 2012
Posts: 15,797 |
People are nuts.....they are putting in all cash offers ignoring appraisals. It's going to end badly. Yep, this. During the housing market crash, Texas fared well compared to Californicate. Why? Because Californicate and a bunch of other blue states had way overinflated housing prices. The bubble burst and alas, there was nothing tangible to back up the inflated prices. Now, we (Texas) are going to try the same thing? Duh. Oh, it is fun to say, "Lookee, I made 100% profit on selling my house, yee-haw". But you will have to pay 100% over the actual cost of your new home. It is as stupid as a bitcoin Ponzi scheme.
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Re: Current Housing/Appraisal Craze
[Re: WAWI]
#13990431
05/08/21 11:57 PM
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Joined: Jan 2005
Posts: 14,482
jcarring99
TFF Guru
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TFF Guru
Joined: Jan 2005
Posts: 14,482 |
I’m not sure about a huge correction. 33 percent of all corporate headquarters are here in Texas and more coming everyday. Until that slows we won’t have a great deal to worry about IMO. There may be some slowing down and what not but we gained two seats in Congress for a reason. People had rather live here than elsewhere. I would suspect that if we keep our current state policies that will continue for the foreseeable future. I mean it crossed my mind to sell and invest the money for retirement to hedge against possible housing bubble. I think I’m good for now so won’t yet Problem is you gotta live somewhere and repurchase will eat up money unless you downsize way down or own another house already . I'm considering selling my rentals but then what I do with cash, stick it in market at highs? I'll say this, the current property tax levels are eating up rental roi. If I sold we would rent until it’s time to love to Pagosa or the beach or both! I wouldn’t buy another home here. I would properties where I want to retire and rent them out when not in use. No way would I buy another home here
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Re: Current Housing/Appraisal Craze
[Re: 1ShotNoKills]
#13990475
05/09/21 12:50 AM
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Joined: Apr 2010
Posts: 26,161
patriot07
TFF Guru
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TFF Guru
Joined: Apr 2010
Posts: 26,161 |
Yeah, I'm hoping this pushes us to state income tax to replace state property tax. There's no way this property tax ends well for anybody other than the government.
Agree with WAWI - we have 3 rental homes and prop taxes are killing us...
Life can only be understood backwards; but it must be lived forwards. - Soren Kierkegaard
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Re: Current Housing/Appraisal Craze
[Re: patriot07]
#13990482
05/09/21 12:58 AM
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Joined: Apr 2017
Posts: 12,176
tmd11111
TFF Guru
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TFF Guru
Joined: Apr 2017
Posts: 12,176 |
Yeah, I'm hoping this pushes us to state income tax to replace state property tax. There's no way this property tax ends well for anybody other than the government.
Agree with WAWI - we have 3 rental homes and prop taxes are killing us... If they ever impose a state income tax its doubtful property taxes would be eliminated. Most people with even a modest income would end up paying more.
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Re: Current Housing/Appraisal Craze
[Re: 1ShotNoKills]
#13990483
05/09/21 12:59 AM
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Joined: Jun 2011
Posts: 15,792
921 Phoenix
TFF Guru
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TFF Guru
Joined: Jun 2011
Posts: 15,792 |
Liberals/demorats and inflation you get what you vote for. Let's have another round of covid to sent everyone home and get more free money and more inflation. you will be able to sell/sale it for double of your current price in about 6 months
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Re: Current Housing/Appraisal Craze
[Re: 1ShotNoKills]
#13990489
05/09/21 01:11 AM
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Joined: Mar 2014
Posts: 29,836
Duck_Hunter
TFF Guru
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TFF Guru
Joined: Mar 2014
Posts: 29,836 |
We need property tax reform but I don’t know state income tax is the answer.
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