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In Reply to: Housing market insanity... posted by dark_dave56 on June 17, 2021 at 03:44:21:
and down payments are now 5% to 10%? So why not buy, if one can afford the monthly payment?
We sold three years ago and got nearly twice what we had originally expected. We had no idea the market had just gone crazy at about the time we decided to leave town until we say a shit-box down the street from us go for over a million.
OK, that was in San Francisco and with a unique location on the water at Ocean Beach. But still, it was a SMALL place compared to what we bought in Santa Fe for barely to 1/3 the money.
I suppose home prices in places like the San Francisco Bay Area are still ridiculous? If one can even find something to buy?
We are lucky we made the move when we did as there is very little to choose from now in Santa Fe. Real estate listings in the Sunday paper are now multi-million or with nothing else on the market just lots and the folks trying to build on those lots are finding that building costs have nearly doubled in the last year or so.
First they came for the dumb-asses
And I did not speak out
Because I was not a dumb-ass
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Follow Ups
- Money is still nearly free... - Ivan303 11:53:44 06/17/21 (2)
- That's what is killing me - RGA 18:07:20 06/17/21 (0)
- Financed offers in a hot market have no chance: folks want fast sales. - tinear 14:59:32 06/17/21 (0)