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Real estate

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Post by Matt; My carpet cleaner on Wed Nov 01, 2017 4:25 pm

Prices here are taking off.
Country lane, 1ac, w\ mobile home... $155k!!!
The house we just built, we paid $60k for 1ac.
So $60k for land + maybe $20k for the mobile = 80. Where they come up with the other 75??
The 155 is almost half what we paid for out NEW house(3600sf).

2 months before she moved, she mentioned she was selling for $80k. Then the RE agent got involved.

Another house I was watching. Value has gone up about $100k each year for last 3 years. Holy cow!!

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Post by milspec6 on Wed Nov 01, 2017 5:31 pm

What are the plans for future development in that area? I once lived in a dump of a neighborhood and sold for what one would expect for a depressed area, but turned out that there was a huge grant coming to revitalize the area. Prices tripled 3 months later.
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Post by Matt; My carpet cleaner on Wed Nov 01, 2017 6:11 pm

Real estate 20170310
From edge of our place, looking down the lane. That's flooding that happened in spring. The property is just below the little hill, on left,beyond the bridge.
Short term, not much.
Long term; pie in the sky utopia. I'm not kidding.

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Post by dp1 on Wed Nov 01, 2017 7:42 pm

Wow, I don’t want to be a party pooper but remember what happened to home prices before 2007 meltdown ? Yup, they doubled and tripled in very short few years, I will seriously knock on wood now, I hope those days are not going to come back anytime soon.

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Post by ACpower1 on Fri Nov 03, 2017 3:05 pm

@dp1 wrote:Wow, I don’t want to be a party pooper but remember what happened to home prices before 2007 meltdown ? Yup, they doubled and tripled in very short few years, I will seriously knock on wood now, I hope those days are not going to come back anytime soon.

it wont Dp, that crash happened due to unrealistic loans being given out by irresponsible bankers. People making 50-60k/ year had 3-4 home loans on multiple properties because the loan was so easy to secure but realistically they would never be able to pay them off in 40+years.

right now our median home price is $700,000, and inventory is extremely low... you literally have zero chance of winning the bidding war unless you have cash no loan.

They actually had to make regulations in the Seattle area because overseas Chinese investors were buying up all the properties as fast as they could, so local here were left hanging with nowhere affordable to live. The Seattle housing crises is a big problem right now.

Businesses are having lots of trouble finding labor inside seattle because anyone looking for minimum wage jobs cant afford to live even within a 30-40 mile range, apartments are hilariously expensive. $2800/month for a 1 bedroom, parking and utilities are extra
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Post by Matt; My carpet cleaner on Fri Nov 03, 2017 6:18 pm

Damm ch*"#&\ buying up everything.
$2800!
Bel-redmond, 800sf+, 2 bed... $900. My wife's cousin lives real close to lake samamish. Nice area.

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Post by ACpower1 on Tue Nov 07, 2017 3:29 pm

ya lake sammamish is pretty far from the city though, nice area but thats a huge commute for someone working downtown seattle.

I like it out there and ya you can find a 2bdrm for $900 Im sure, you can also in Everett or Federal Way... but it quickly goes up the closer you get to Seattle.

You can either pay more for rent or commute more, I dont know which is better lol
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Post by dp1 on Fri Nov 10, 2017 7:49 pm

Well I know if the difference is $ 2800 for 1 bedroom and $ 900 for 2 bedrooms, I would commute, The $ 1900 savings minus gas should equal to at least $ 1000 or more, that’s $ 12 grand at the end of the year, now if the savings is only a couple hundred bucks, I would say forget it, we’re living in the city.

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Post by ACpower1 on Mon Nov 13, 2017 11:53 am

ya idk what the savings would be gas wise, but time wise its huge. 2-3hrs of commuting each day really adds up when you look at how much time per year your spending sitting in traffic
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Post by dp1 on Mon Nov 13, 2017 1:56 pm

You guys don’t have express lanes down there ? I didn’t see one when we went there a couple of years ago, LA’s express lanes help a lot in cutting down time spent in traffic, they are not cheap, at times like the peak hours, 8 miles express lane can go up to $ 15 one way, but it beats stop and go for an hour and a half. Yup you read that right, an hour and a half to go 8 miles in the morning is the norm in LA, it’s sad.

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Post by milspec6 on Mon Nov 13, 2017 11:05 pm

All I remember was driving up the interstate from San Diego and missing my exit that took me to the Base. There were no more exits until you reached Long Beach some 20 minutes later.

I didn't enjoy CA much back then.
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Post by dp1 on Tue Nov 14, 2017 8:06 am

Ha..ha... now there are 30 exits between the base and Long Beach and I can guarantee you, you will hate it more now due to these aggressive rich drivers that drive "home on wheels" pretty much ( lamborghinis, Bentleys, etc ). I always wonder how they feel a few years later after they lose 100 k in depreciation and another $ 20 - $ 30 grand in insurance.


Last edited by dp1 on Tue Nov 14, 2017 10:31 pm; edited 1 time in total
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Post by milspec6 on Tue Nov 14, 2017 3:19 pm

You are right, I would hate that as well. As for those drivers, if you can afford to drive a Lambo, the depreciation isn't an issue.
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Post by Matt; My carpet cleaner on Thu Nov 16, 2017 4:46 pm

Just talked with my mechanic. He's been fixing up his rental-, to sell.
2k sf, 2 story, 4 small bed, 2 bath. Entry level neighborhood type homes.
Has had a value of $180k for years. He tried a fsbo, for $245k. No takers for 30 days. Just listed with an agent. She showed him recent sales going for $280k.
-now I'm starting to see why that 1acre with mobile is listed for $155k.

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