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Re: Current Housing/Appraisal Craze [Re: 1ShotNoKills] #13989960 05/08/21 12:03 PM
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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.

Re: Current Housing/Appraisal Craze [Re: 1ShotNoKills] #13989962 05/08/21 12:10 PM
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People are nuts.....they are putting in all cash offers ignoring appraisals. It's going to end badly.




Re: Current Housing/Appraisal Craze [Re: 1ShotNoKills] #13989979 05/08/21 12:32 PM
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The way things are going you better find a way to make more money, it wont go the other way.

Re: Current Housing/Appraisal Craze [Re: 1ShotNoKills] #13989990 05/08/21 12:51 PM
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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.

Re: Current Housing/Appraisal Craze [Re: 1ShotNoKills] #13989996 05/08/21 12:56 PM
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presley Offline
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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.
Re: Current Housing/Appraisal Craze [Re: 1ShotNoKills] #13990025 05/08/21 01:44 PM
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People that are buying houses around me are mostly from California. Sold a house worth millions there, paying cash here.

Appraisal is irrelevant.


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Re: Current Housing/Appraisal Craze [Re: 1ShotNoKills] #13990039 05/08/21 01:57 PM
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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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For financing click: https://app.gethearth.com/partners/carrington-roofing-construction-llc/joel
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Re: Current Housing/Appraisal Craze [Re: jcarring99] #13990041 05/08/21 02:01 PM
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Originally Posted by jcarring99
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.

Re: Current Housing/Appraisal Craze [Re: Frenzy] #13990044 05/08/21 02:02 PM
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Originally Posted by Frenzy
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: Bob Davis] #13990052 05/08/21 02:10 PM
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Originally Posted by Bob Davis
Originally Posted by Frenzy
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.

Re: Current Housing/Appraisal Craze [Re: WAWI] #13990431 05/08/21 11:57 PM
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Originally Posted by WAWI
Originally Posted by jcarring99
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


Joel Carrington
214-770-7978
email: joel@carringtonroofingdfw.com
Carrington Roofing & Construction, LLC
For financing click: https://app.gethearth.com/partners/carrington-roofing-construction-llc/joel
www.carringtonroofingdfw.com
Re: Current Housing/Appraisal Craze [Re: 1ShotNoKills] #13990475 05/09/21 12:50 AM
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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...


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Re: Current Housing/Appraisal Craze [Re: patriot07] #13990482 05/09/21 12:58 AM
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Originally Posted by patriot07
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.

Re: Current Housing/Appraisal Craze [Re: 1ShotNoKills] #13990483 05/09/21 12:59 AM
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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

Re: Current Housing/Appraisal Craze [Re: 1ShotNoKills] #13990489 05/09/21 01:11 AM
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We need property tax reform but I don’t know state income tax is the answer.


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