CSB: Vu - Local Forum n00b Questions Forum Unwritten Rules - New Pope Being Elected

[riceburner]

My mortgage company is telling me the value of my house went up 25k since I bought it last year. I don't believe them

it probably did, but yeah whats the point, what are you gonna buy next, ya know

Interest rates have gone up ~2% or so since January so that will help slow things down.

It sucks that some 30-50% of all homes sold last year sold to COMPANIES who want to remodel, resell for high profits, or rent for high prices. Its an absolute monopoly against the american dream and it kills me that nothing can happen to that.

My brother has been looking for well over a year for a DECENT place for ~250 range and just keeps getting outbid whenever he finds something that suits his taste. Hes a veteran and firefighter, maybe they dont wanna deal with the VA process, idk. It sucks.

We got our current place for ~325k, probably sank ~15 into it since we moved in, are about to throw another ~25 into it to make a bathroom in the basement/finish the basement, and the house may be worth considerably more then. But fuck that i dont wanna sell lol

 

[KollinWithaK]

Went under contract for a house couple weeks ago, got an appraisal for it two weeks after going under contract. House was valued 15k more than agreed purchase price.

 

[oddspyke]

it probably did, but yeah whats the point, what are you gonna buy next, ya know

Interest rates have gone up ~2% or so since January so that will help slow things down.

It sucks that some 30-50% of all homes sold last year sold to COMPANIES who want to remodel, resell for high profits, or rent for high prices. Its an absolute monopoly against the american dream and it kills me that nothing can happen to that

There's a really interesting thing happening around me now with the new home construction; basically no one can get approved for a mortgage on a new home without selling their old home first because they can't afford the crazy high prices without rolling over their equity. So builders have moved from making homes for specific customers with construction contacts to just building them and selling them as "quick delivery" homes.

 

[uglybastard]

So how soon is the housing market going to crash? My next door neighbor just listed their house for almost $1M. That's cool and all and it's fun to think my house might be worth even more than that, but come on... it's freaking Delaware. There's no world in which homes that were selling at $500-600k two years ago are worth that. Who's paying over $200/sqft to move to Delaware? The bottom has to drop out on this soon.

supposedly it will tip this summer.

 

[uglybastard]

Keep in mind what they're asking and what they're going to get are two different things. A neighbor down the street from my parent's house had listed a single story ranch for 800K, after a couple of months on the market they eventually ended up selling it for 600k. Seller are seeing dollar signs but that doesn't mean buyers will agree with that.

I could list my Golf for 60K, doesn't mean anyone is willing to give me that for it.

its amazing what is happening now that companies like zillow aren't artificially creating a housing price hike by overpaying sight-unseen for houses....

 

[jay745]

It's possible but I would fight any attempts at re-appraising your house. The suburb just wants more property tax from you.

That being said the S/O and I had purchased a condo in Ravenswood back in 2018. We sold it for 25% more than the purchase price at the beginning of this month. There isn't a detached home in Ravenswood under 1M now.

Oh yeah I'm not doing it for exactly that reason. Also sounds like they just want me to take an equity loan. Nope

 

[messrock]

Exactly. I couldn't afford my own house if I had to buy it at today's prices, that's gotta be a warning sign. Soon I'll be like one of those old people in NYC yelling about gentrification

We had a hell of a time getting the city to approve plans for renovations so we could add a second bath. We considered using the equity (bought in 2009) and moving, but then realized we would be buying the same exact house, 2 blocks away and having a higher payment.

Decided to keep trying to find a way to get something approved, while it wasn't as much space as we hoped for, it at least got us a second bath...

 

[dtfd]

CSB 2: Meeting Of Masters Of Karate And Friendship For Everyone​

Before it's gone can we just take a moment to appreciate the top shelf its always sunny reference?

 

[Acadia18]

CSB 2: Meeting Of Masters Of Karate And Friendship For Everyone​

Before it's gone can we just take a moment to appreciate the top shelf its always sunny reference?

 

[uglybastard]

CSB 2: Meeting Of Masters Of Karate And Friendship For Everyone​

Before it's gone can we just take a moment to appreciate the top shelf its always sunny reference?

CSB 2: CSB Regulars Pay Troll Toll, Therefore They Can Get The Boy's...... Soul?​

and a followup

 

[Acadia18]

CSB 2: CSB Regulars Pay Troll Toll, Therefore They Can Get The Boy's...... Soul?​

and a followup

 

[dtfd]

Thanks boys, I'm on a Teams call and all that's going through my head is

Troll toll

what'd you say?

troll toll

hey hey hey!

troll tollllll

 

[Acadia18]

Thanks boys, I'm on a Teams call and all that's going through my head is

Troll toll

what'd you say?

troll toll

hey hey hey!

troll tollllll

 

[KollinWithaK]

 

[GolNat]

Idk what’s going on