Housing/real estate

[combo52]

Ceiling Heights

High ceilings would probably help in hot climates BEFORE central A/C was the norm,

 

With C/A it is much cheaper to cool less CF of space, and vaulted ceilings are never insulated as well as a flat ceiling.

 

Hi Cole, if you have the down payment for a house in the 125,000-150,000 range in your area you would be crazy not to buy now while the interest rates are so low, even if the bottom drops out of the housing market when you are buying at a price so low you don't stand much chance of losing much.

 

John L.

 

[vacerator]

Cole, I didn't mean you!

Unless you were on the beaches during spring break, not social distancing, or masked up! I meant your moron governor though! I have friends in Jacksonville who say that! Also it has a serious racial issue problem, and was the nations murder capital per capita for 3 weeks not long ago. My son in law grew up in the Orlando area. He left it a decade ago. He earns more up here at what he does, and says this is home now.

 

[revvinkevin]

Adding to what John said above.....

I agree completely, buy something while interest rates are LOW! If you try to wait for the perfect time/price to buy, you could miss it as values and interest rates start rising again. If you have been looking / planning to buy the last 8 years, I imagine this will be a “forever home” for you, yes? Just buy and enjoy being a homeowner!

Some people get REALLY hung up on the idea of “oh I’ve lost so much money...” when home values in their area drop. But the reality is, if you DON’T sell your home, you haven’t actually lost ANYTHING! I have been in my home since 1999 when my ex and I bought it. Over the years I have seen it’s value fluctuate as much as $500,000, but as i have no plans to sell or move, it doesn’t matter to me.

Kevin

 

[davey7]

I'm going to throw out my quick thoughts on the housing market, at least as it stands around me. There is so little inventory available that even run down things are selling quickly, not sure if just to flippers or investors. If I could easily sell my place (obviously this is market specific) but I would have a heck of a time finding something equivalent even for more money. For example in the immediate area around me there are like three things for sale, a dinky condo (small dreary one bedroom, if in a nice-ish vintage building) and a poorly rehabbed rowhouse with no parking for way too much.

My advice would be to hold out for lower prices, even if rates go a little bit higher.

 

[DADoES]

 
My first house is for sale again.  Listing price is a bit more than 3.5x what I paid 30 yrs ago.

 

[vacerator]

Inventories low,

new builds selling fast too! I think were at the high end of a bubble, unless that is changing to an always up market like Chicago, Toronto, etc.
If I were in my first home and wanting to move up, I'd sell it now if I could rent or live with a relative until the market drops some, because a high profit on a starter or small house wotn't get you s much bigger house right now.
If you have no where else to live, then don't sell and move up until the market drops a bit. That way you only lode a litlle on selling your existing home, and will get more new house for less dollars per sq. ft.

 

[davey7]

Interestingly, prices did sag in Chicago. Example, one unit in my building sold for more during the recession (it was a private sale) yet resold for a bit less on the open market during better times.

However, we now have had two sales in my building, both were for significantly more than the previous sales, both cash sales, one for the asking price and the other a good chunk o' change less but still a record price. They will be unhappy once they realize how poorly the rehab was done.... AND the units each had offers within a day or two.