Homes are back to selling 10% to 15% over asking price in my area again

[80zephyr]

Uh.....they aren't going down because there aren't enough houses and too many buyers moving from California or trying to buy homes in more desirable areas.

California is becoming a shithole.

Yesterday I was talking to my wife and she refuses to buy a home in Raytown KS.

Homes there are very affordable.

She wants to live in Lenexa KS and it's next to impossible to find an affordable home there.

Ah. It would depend on the area.

 

[mudwhistle]

You got it bass ackwards.

Nope. You got my intent ass-backwards.

 

[mudwhistle]

 

[1srelluc]

It's actually so bad. I wish Trump would focus on this and not all the foreign affairs stuff. Republicans are about to lose the midterms over this. People are just not making it in this economy.

Someone is buying them hand over fist (after the speculators get theirs) so how do you square that?

 

[JustAnotherNut]

I've been seriously considering moving out of state and been checking Redfin & Zillow for the areas I'm interested in and the market for the areas is crazy. Even for the Mcmansions. Sold in hours or days at most and anything still on the market for a month or more is suspect as to why. With that kind of market, I won't be going anywhere

Housing here in the PNW isn't affordable. In this whole county there are maybe 5 places for under $500k but in areas nobody wants to live. In my particular area, there is ONE house that's been for sale for well over a year, maybe 2 and the price has dropped to $575k, it's been in pending status a couple of times then right back on the market, which suggests something wrong with the place

 

[Captain Creeper]

High Housing Prices:

Good or Bad?
Because this ^^^^ was always a complaint under biden.
What is different now?

^

 

[mudwhistle]

I've been seriously considering moving out of state and been checking Redfin & Zillow for the areas I'm interested in and the market for the areas is crazy. Even for the Mcmansions. Sold in hours or days at most and anything still on the market for a month or more is suspect as to why. With that kind of market, I won't be going anywhere

Housing here in the PNW isn't affordable. In this whole county there are maybe 5 places for under $500k but in areas nobody wants to live. In my particular area, there is ONE house that's been for sale for well over a year, maybe 2 and the price has dropped to $575k, it's been in pending status a couple of times then right back on the market, which suggests something wrong with the place

Don't move until you close on a house in a red state.

All of the people leaving CA are buying everything up here in Kansas.

 

[The Duke]

Could be just the time of year but damn, that was a short lull.

I also noticed that a couple older homes that had price reductions and sold were back on the market (I assume renovated a bit) for 150K over their sold price a few months back.

They put two townhomes on my mom's extra town lot, nothing really special about them at all. They both were sold for 340K a pop before they were listed.

Home valuations are about double over what they should be.
Largely because of BlackRock, illegals, and municipalities wanting tax money.
The tax rate is criminal.
People want to know why rent is high?
Because municipalities charge 400% higher taxes on rental property, they make
twice as much as the owner per year and don't even have to do any upkeep.
By law.
Like, where I live right now? They would charge $16K+ year taxes if rented.
What kind of rent does one have to charge to cover that?
It's insanity.
That's where we're at today in America.
It's the city councils and the county commissions doing this.
Steadily raping people for years. It won't change until people get serious about it.
I'm guilty as well, I just pay teh taxes and STFU. I'm trying to draw attention to this now, though.
It is really, really messed up. Desantis is right on that.

 

[1srelluc]

Home valuations are about double over what they should be.
Largely because of BlackRock, illegals, and municipalities wanting tax money.
The tax rate is criminal.
People want to know why rent is high?
Because municipalities charge 400% higher taxes on rental property, they make
twice as much as the owner per year and don't even have to do any upkeep.
By law.
Like, where I live right now? They would charge $16K+ year taxes if rented.
What kind of rent does one have to charge to cover that?
It's insanity.
That's where we're at today in America.
It's the city councils and the county commissions doing this.
Steadily raping people for years. It won't change until people get serious about it.
I'm guilty as well, I just pay teh taxes and STFU. I'm trying to draw attention to this now, though.
It is really, really messed up. Desantis is right on that.

You have to stand on the planning commission and the town and county boards with both feet.

I swear though, it's getting to the point where "resistance is futile", as way too much money is involved.

That's why I vote for slower growth Independents locally. The gop slags they run would have us like NOtVA in a decade if they were allowed to. Bad enough as it is.

Then to add insult to injury my town has become sort of a Catholic destination town....At least they are "good Catholics" and very conservitive.....They still want homes no end though.

 

[JustAnotherNut]

Don't move until you close on a house in a red state.

All of the people leaving CA are buying everything up here in Kansas.

I probably won't be able to move just because of the market prices. Atleast here I have a buttload of equity and a 4% rate. It would be crazy to sell that, for a 6+ % with triple the payment

Because of the exodus of blue states for red states, those red states now think anyone coming in is the enemy

 

[mudwhistle]

You have to stand on the planning commission and the town and county boards with both feet.

I swear though, it's getting to the point where "resistance is futile", as way too much money is involved.

That's why I vote for slower growth Independents locally. The gop slags they run would have us like NOtVA in a decade if they were allowed to. Bad enough as it is.

Then to add insult to injury my town has become sort of a Catholic destination town....At least they are "good Catholics" and very conservitive.....They still want homes no end though.

At the rate we're going there will be local governments that make it illegal to be openly Christian in a few years.

If you're a decent upstanding member of the community they'll hunt you down and arrest you.

 

[1srelluc]

I probably won't be able to move just because of the market prices. Atleast here I have a buttload of equity and a 4% rate. It would be crazy to sell that, for a 6+ % with triple the payment

Because of the exodus of blue states for red states, those red states now think anyone coming in is the enemy

They pretty much are.

Spanberger's victory here in Virginia was almost exactly the number of NYers who moved here since 2022.

It was like 5k more NYers that moved here but I figured that accounted for children and what few right-leaners were in the bunch.

 

[1srelluc]

LOL....This is what 500K+ gets you in my AO now.....Terrible roads....Grown over pond in front of it.