Our property taxes went up $1000 this year. $1400 since 2020. Sadly, or perhaps thankfully, it is still assessed at almost $100k less than what we expect it to sell for this summer. 5 years ago I would have said you were crazy if you told me we could get the kind of money places are selling for.
Agreed. We like hosting holidays and parties. Hard to do that in a shanty. Plus, once our kids hopefully have kids, I want quality space for everyone so that coming to our house is desirable and fun. As is stands, we have poured way more money into our house than we will ever get out of it when we sell. Probably twice as much, but still cheaper than making a bigger and nicer house "our own." In any event, I think of money we have poured into our house as entertainment dollars, so it's all good.
I was saying the same thing to my wife. Our house was a stretch for us when I started my current job 20 years ago. It would be unreachable now, based on what I made then. Fortunately for our kids, Daddy and Mommy Warbucks make a lot more than then, and they have been good to them, and will be in the future. But even then our help will only go so far, if they choose to settle down in a large metro with large metro housing prices.
wait for the flood of boomer houses or someone in government to get smart and realize their tax base is gonna dry up quickly without owner-occupied housing.
LOL I’m going to bet you don’t live in one of those “over 55” communities. Everyone I know who lived in one has sold and moved out.
Public lands! Public revenue used for public infrastructure. Did you know that UT- Austin has an oil well on campus?! I think it has been capped off but it was a producer.
Wow. Nova is a very costly area. Hopefully they pay teachers better here than there. Either that or hopefully his wife chose a high paying career.
Is there some sort of HOA rule that limits guests or is it the lack of physical space in these homes?
Our house was built in 2000.
I guess we will just need to see how it sorts out. I understand supply and demand curves but I am not sure the demand curve will shift left as older people die. Rather, I think the demand will be sustained by a new set of purchasers. So I guess the question is whether there will be a glut of homes hitting the market shifting the supply curve to the right. I am sure there will be regional supply glut, on the whole, who knows. It could also be that there could be a lot of deferred or pent up demand when the supply is increased, and the prices stay at equilibrium. Like I said, time will tell.
Well, I'm only 49 with no grandkids in sight, but I agree that I have no interest in living around a bunch of people admiring their ability to keep other people off their lawns. That is not the stuff of life, in my book. I want the pool swum and dived in, so to speak.
You said that Texas has it's own well fields. Actually they're privately owned on leased land from the state.
Yeah I messed that statement up. What I meant was the theory that Airbnb / VRBO taking up some inventory (keeping house prices high) lead to incorrect speculation and rumor that there was going to be a collapse of that market and it would then drive prices down (similar to this theory that all the boomers will sell at once and drive prices down)
Yeah I messed that statement up. What I meant was the theory that Airbnb / VRBO taking up some inventory (keeping house prices high) lead to incorrect speculation and rumor that there was going to be a collapse of that market and it would then drive prices down (similar to this theory that all the boomers will sell at once and drive prices down)
It did not happen.
Housing Market 2023: Viral Tweet Says ‘Airbnb Collapse Is Real’ — Is Now the Time To Buy a Home?
A random tweet about Airbnb might not be the most conventional place to dig up insights into the state of the U.S. housing market, but a lot of people seem to be doing just that. According to at least...finance.yahoo.com
We live just outside the urban sprawl of a pretty large city in a state further east than Iowa.
That's great advice. The Masters gives him options such as you mentioned. Even being an assistant principal would likely mean a nice increase in pay. I'm a firm believer that if you live in expensive areas (such as NoVa) then you need to be even more career driven and focused to achieve high salaries. They can do that but they will need to budget tightly and keep climbing that ladder aggressively.
Zillow also shows the sold price fyi of homes that have sold in the recent past. So, you can see what it went for and if you scroll down, you can see what the list price was as well.
Not a realtor, but when we refinanced in 2021 the valuations were very close to what we got from the appraisals we submitted on the loan.
Everyone I know in real estate laughs at Zillow.
This is common for realtors to say no matter the situation. They have a vested interest in getting the most out of every house sold.
Dang, you really bring down the value of a property!
I'm sure Zillow had a hard time keeping up with value increases the past 5 years.
To that I say no thank you, unless when I retire I have more money than I am anticipating. I am trying to remember who the poster was - perhaps @noleclone2 ? - who shares a similar strategy of vacationing for a month or two in a warm climate once time permits in retirement, but not biting off the huge cash outlay in getting a place of one's own. You can rent a f*ck of a lot of VRBO's all over the USA and the world for half a million dollars before you die.
That’s because Zillow is a big friggin threat to them.
The Obama collapse that started in 2006-2007 when Obama was a senator?
They shouldn't. They should say thank you, for now. Buyers cut out of my cloth will have parsed properties carefully before ever asking them to walk through a house. Shit, I bet if I found a place I really wanted on zillow it would take only the one tour of the house before I would pull the trigger. In yesteryear, I might have wanted to see 30 houses. Now, real estate agents could be eliminated in the future, or have their commissions gutted. But for now, they should be gathering the honey and abundant crops while they can, and be thankful for how little effort they need to expend.
I have a contractor friend, he only builds houses that come in over $400K. I haven't talked business with him in a while, so it makes me wonder if he isn't doing Million dollar only homes nowadays. In any case, I hate that County 52 is assessing homes WAY over their real value. A money grab.
I’m not sure but people who I know that lived in one of these communities said they could only have visitors under 55 stay for a limited period of time. Space or not.
