What’s Happening with Housing near you

a reply to: KawRider9

As for commercial property, it's tanked. I have well over 600,000 in my building/property and I'll be lucky to get 225,000.

I have my eyeball on some commercial property… but I noticed the ones for rent want long leases 5+ years and the ones for sale are still overvalued.

a reply to: peter_kandra

I'm North of you in Woodstock. New construction is in the 400K range and up. Not sure about used home prices.

originally posted by: JAGStorm
a reply to: KawRider9

As for commercial property, it's tanked. I have well over 600,000 in my building/property and I'll be lucky to get 225,000.

I have my eyeball on some commercial property… but I noticed the ones for rent want long leases 5+ years and the ones for sale are still overvalued.

I get astonishing offers for my irrigated farm land from developers in Texas; My very modest adobe home in the Rio Grande valley, appraised at 1mil. on 1ac+. I can't afford the taxes. Considering selling out and moving to the tropics.

a reply to: olaru12

1mil for 1 acre, in TX? Dang. What are taxes like in the area?

a reply to: olaru12

I get astonishing offers for my irrigated farm land from developers in Texas; My very modest adobe home in the Rio Grande valley, appraised at 1mil. on 1ac+. I can't afford the taxes. Considering selling out and moving to the tropics.

Oh you bring up the other aspect of all of this, TAXES..

I think this is going to be the nail in the coffin for a lot of folks.
I know in Illinois the taxes are getting to the point where they are almost as much as the mortgage payment.

originally posted by: SourGrapes

originally posted by: JAGStorm

originally posted by: SourGrapes
a reply to: JAGStorm

I live in the same state as you. A house, two doors away, sold last week, the day of listing, for 40k over asking price. It was listed for 30k more than the Zillow price.

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You must be closer to the suburbs/city.

It will take a minute before it hits in the populated areas that still has competition, but I have a feeling it’s going to happen.

Yes, suburbs of MKE. I'm in conservative Waukesha County.

Hello neighbor,

edit on CDT2022p2022-10-10T12:20:28-05:00Mon, 10 Oct 2022 12:20:28 -0500pmf31 by Topcraft because: (no reason given)

a reply to: Topcraft

Are you a fellow cheese head? I absolutely love it here! I've lived in 8 states and 2 countries, Wisconsin is one of my favorite places to live.

Good thread, JAG! 👍

Central Iowa is often seeing up to 20% discounts on new construction, a few more junk try-to-dump properties avail now.
Horton is discounting remaining props and even dumping entire raw developments.
Builders are getting uneasy holding inventory, as reported by my buddies at nearly all the real estate brokers here.
It is the first time I've rented in about 15 years, but I sold on the peak to put cash in the bank and build on the materials dip. ..sans a fuel price drop.
"Used" house are holding fairly steady with high prices and low inventory, but the bidding war stuff has mostly ended.
I've noticed a marketing trend with builders who are selling "pictures" of build to suit properties, instead of actual houses to help limit exposure.

originally posted by: SourGrapes
a reply to: olaru12

1mil for 1 acre, in TX? Dang. What are taxes like in the area?

No, in a verry affluent village in New Mexico. Taxes are very high in this county.

I too miss SoCal.

a reply to: JAGStorm

I'd say it's still overinflated here because the nearest house to me just sold for $200,000 more than the "Zestimate" for my house. The house that sold is a small three-bedroom, one-bath house on an acre lot. My house has 1500 more finished square feet, a basement and subbasement not calculated into the square footage, two additional bathrooms, an additional bedroom, and a substantially larger lot and is theoretically worth more than the house that sold. 

I don't know if prices here will come down much. We are surrounded by a national park and there is nowhere for new houses to be built. 

originally posted by: SourGrapes
a reply to: Topcraft

Are you a fellow cheese head? I absolutely love it here! I've lived in 8 states and 2 countries, Wisconsin is one of my favorite places to live.

Good thread, JAG! 👍

How long have you been here. I know some "interesting places"...

For starters have you stayed at the Pfister hotel?
It has long been rumored to be haunted. It's 1000000% true. I couldn't even stay the whole night there.
When I say haunted I don't mean in a good way either.

The Pabst mansion, 100000% haunted, but in a good way.

a reply to: Mandroid7

I've noticed a marketing trend with builders who are selling "pictures" of build to suit properties, instead of actual houses to help limit exposure.

That is happening here too.
Also these builders around us must be trying to save every penny, they are using the most antiquated equipment i've ever seen.

Housing in NJ has become impossible in the last few years -
Apartments are in the $3,000 range, and I'd love to know how people can pay that every month.
Houses for sale in this area are upwards of $400,000 for something very small in the flood zones, with no driveway or yard to speak of. And over a million for something decent.
Taxes start at $10,000 and that is for somewhere you don't want to live. $20,000 for a decent home and area, to start.
A home on our block is for sale at nearly $700,000, and has been flooded numerous times, no buyers after a year.
Here the housing market is just outrageous, after the next flood the numbers will change again. Every time there is a hurricane / flood, there is a mass exodus, but we don't plan on sticking around for any of that.
For decades our little town steadily remained the same. Those days are gone.

500k for a pos.

a reply to: JAGStorm

1200 for a crack apt

1800 for an apt not in the ghetto

a reply to: JAGStorm

My property taxes for my 1/2 acre lot and house are $2,500 a year, the taxes on my 40 acre rural wooded property full of fish and game is $600 a year.

Florida is insane. Depends on the county but now even rural prices are skyrocketing because so many are moving here. Acreage is being sold off by the old Florida families because the kids do not want to run the farms. Cattle is huge in Florida.

There is plenty of new construction also. It is expanded to areas once thought protected and the County Commissions are dooming the future of many counties.

The issue is urban/city rentals. They are outrageous to the point people are actually renting 'rooms' in houses for 700-1k a month. For a room. What cost 1400 5 years ago is now 2400 and that is a 2/2 or a 3/2 maybe. 4/3 are shooting upwards of 3-4k or more for a pool or a nice area. (gated). They all want 1st, last and deposit also. It is almost impossible for many.

When a trailer goes 1400 in Lakeland and people fight over it you know it is bad in Florida....but if you look hard enough, like anywhere you can find a gem but trying to get a place in St Pete, Tampa, Orlando or Miami is a joke.

originally posted by: nickyw
a reply to: nugget1

The rich get richer and the poor get poorer.

as it ever was, my area one of the poorest had the lightest covid first wave which science put down to being too poor to go to the middle class ski resorts, catch it while partying and bring it home.. if you went by house prices on the uks first wave it spread through similar house price bands..

sometimes it helps to be poor..

A funny thing happened in our area; the main hospital completely shut down one of its two patient floors and got rid of all beds and equipment, except for the four ICU beds as soon as the pandemic took off. They were listed as being beyond capacity and had to ship covid patients off to Boise for treatment.

The poorest among us are supprot staff for the ever-increasing retirement industry, so covid was shared widely. Even at that, the deaths weren't as great as what 'statistics' were showing elsewhere, and more serious strain only lasted a few months.

Thanks to the thread , I just checked the houses in my area.
2 story , 3 bedroom , 2 bath cookie cutter houses that sold for 120k 10 years ago are now 300k .
And that price rise seems to have inflated that far in the last couple of years.

originally posted by: nugget1

originally posted by: nickyw
a reply to: nugget1

The rich get richer and the poor get poorer.

as it ever was, my area one of the poorest had the lightest covid first wave which science put down to being too poor to go to the middle class ski resorts, catch it while partying and bring it home.. if you went by house prices on the uks first wave it spread through similar house price bands..

sometimes it helps to be poor..

A funny thing happened in our area; the main hospital completely shut down one of its two patient floors and got rid of all beds and equipment, except for the four ICU beds as soon as the pandemic took off. They were listed as being beyond capacity and had to ship covid patients off to Boise for treatment.

The poorest among us are supprot staff for the ever-increasing retirement industry, so covid was shared widely. Even at that, the deaths weren't as great as what 'statistics' were showing elsewhere, and more serious strain only lasted a few months.

We always had 3 hospitals locally - two of them closed down, went bankrupt because illegals were using them for doctor visits.
We're down to 1 hospital now.