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A Bakers Cousin posted:hmmmmmm seems like a good afordable starter place i couldnt find this one, its in colorado? this one is cozy but for $215k i assume its in the boonies https://www.coloproperty.com/listing/details/401616464
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Jan 16, 2023 22:08
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A Bakers Cousin posted:So there doesnt appear to be ....any counter space? It is a 1 bed. You, the single occupant of that apartment, are supposed to be eating out, not at home like some loser.
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Jan 16, 2023 22:09
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BIG-DICK-BUTT-gently caress posted:i couldnt find this one, its in colorado? https://www.zillow.com/homedetails/1111-Maxwell-Ave-APT-109-Boulder-CO-80304/13237316_zpid/ edit: using boulder is cheating tbqh
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Jan 16, 2023 22:10
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Hubbert posted:this forum taught me that cooking at home is both classist and ableist so I support this kitchen configuration On the other hand, you can make pizza at home using a few simple ingredients
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Jan 16, 2023 22:11
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https://twitter.com/zillowgonewild/status/1614406448129114113 Put your computer room in the vault so nobody can ever stop you from gaming
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Jan 16, 2023 22:12
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This seems cheap for a FLW-designed home but if it's like his others then the inside is a wreck by now. Outside's pretty, though. And lol at the property taxes mentioned in the kicker. quote:Oak Park home that is an early design by Frank Lloyd Wright listed for $595,000 
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Jan 17, 2023 00:23
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interior = wreck confirmed, from the one inside pic on the listing. lmao, a teardown that can't be torn down.
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Jan 17, 2023 00:25
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A Bakers Cousin posted:https://www.zillow.com/homedetails/1111-Maxwell-Ave-APT-109-Boulder-CO-80304/13237316_zpid/ Downtown Boulder? I would buy that in a heartbeat.
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Jan 17, 2023 00:29
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Willa Rogers posted:interior = wreck confirmed, from the one inside pic on the listing. It looks nice
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Jan 17, 2023 00:41
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A Bakers Cousin posted:So there doesnt appear to be ....any counter space? you know the apple bowl can be removed right
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Jan 17, 2023 00:59
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Willa Rogers posted:This seems cheap for a FLW-designed home but if it's like his others then the inside is a wreck by now. Outside's pretty, though. This home got some attention in local news. It's a disaster. At least $90k to get it to habitable status and that's just habitable. If you wanted to restore it to deserved glory you're looking at another mid-six figgies. Yet, again, it's an OG Wright. His homes are national treasures and when they go on sale it's a special moment. Last year I saw a standard cookie cutter four-square that ought to have also been a tear down list for 695k and sold just a smidge under, at the same degree of disrepair, in Evanston. This house missed that market by a hair and lol.
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Jan 17, 2023 01:58
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Hubbert posted:this forum taught me that cooking at home is both classist and ableist so I support this kitchen configuration
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Jan 17, 2023 02:45
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There was a punk band here in the nineties called Frank Lloyd Wrong
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Jan 17, 2023 02:45
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quote:[Advice] Did I buy at the top of a House Bubble? What to do? idk have you tried living in your loving house and not treating it like a stock portfolio
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Jan 17, 2023 17:04
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People like that are why it's so easy to trick homeowners into giving up their homes if the market so much as cools by a few degrees. There's nothing you can do about your home's value going down. Nothing. Anything you do except just living in your loving house and paying your mortgage will end up costing you more money, which is why it's extremely dumb to view your home as an appreciating asset in the first place. It's funny/frightening that so many people probably bought in over the last two years expecting that meteoric rise in home values to continue.
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Jan 17, 2023 17:13
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Paradoxish posted:People like that are why it's so easy to trick homeowners into giving up their homes if the market so much as cools by a few degrees. There's nothing you can do about your home's value going down. Nothing. Anything you do except just living in your loving house and paying your mortgage will end up costing you more money, which is why it's extremely dumb to view your home as an appreciating asset in the first place. um excuse me but i need my home to keep appreciating in value otherwise i cant continue using my heloc to make the margin calls on my 10x levered nft calls
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Jan 17, 2023 17:15
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The Oldest Man posted:um excuse me but i need my home to keep appreciating in value otherwise i cant continue using my heloc to make the margin calls on my 10x levered nft calls thoughts and prayers in these challenging times
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Jan 17, 2023 17:53
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The Oldest Man posted:um excuse me but i need my home to keep appreciating in value otherwise i cant continue using my heloc to make the margin calls on my 10x levered nft calls It isn't just dumb people YOLO'ing money into scams. The appreciation of housing prices is an article of faith. You're supposed to buy a starter home you can barely afford as young as possible so that you can ride that appreciation up for 5-10 years and then use that money to purchase another house when you want to/accidentally have kids. Before someone comes in to say "but purchasing is forced savings," 86% of the money homeowners accumulate in the first 10 years comes from price appreciation. The housing market simply does not function as most people expect without large, fast appreciation.
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Jan 17, 2023 18:13
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MickeyFinn posted:It isn't just dumb people YOLO'ing money into scams. The appreciation of housing prices is an article of faith. You're supposed to buy a starter home you can barely afford as young as possible so that you can ride that appreciation up for 5-10 years and then use that money to purchase another house when you want to/accidentally have kids. Before someone comes in to say "but purchasing is forced savings," 86% of the money homeowners accumulate in the first 10 years comes from price appreciation. The housing market simply does not function as most people expect without large, fast appreciation. This is the really notable part: quote:Over a 10-year period, home prices have increased 7.9% annually, a stronger appreciation compared to the 4.2% annual price pace in the past 30 years.4 Recent gains were never going to hold up. They were never sustainable, even in the context of the already insane and unsustainable American housing market. I absolutely don't think a crash is in the cards, but prices will flatline and maybe even decline for a while in a lot of markets if rates hold steady or increase. People who bought in with the intent to ride appreciation into larger homes are almost certainly going to be very disappointed for a very long time.
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Jan 17, 2023 18:21
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MickeyFinn posted:It isn't just dumb people YOLO'ing money into scams. The appreciation of housing prices is an article of faith. You're supposed to buy a starter home you can barely afford as young as possible so that you can ride that appreciation up for 5-10 years and then use that money to purchase another house when you want to/accidentally have kids. Before someone comes in to say "but purchasing is forced savings," 86% of the money homeowners accumulate in the first 10 years comes from price appreciation. The housing market simply does not function as most people expect without large, fast appreciation. That's the joke
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Jan 17, 2023 18:32
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That guy has a 4bd, 3,000sq ft home, so upgrading for more space shouldn't be a concern.
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Jan 17, 2023 18:39
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Paradoxish posted:People who bought in with the intent to ride appreciation into larger homes are almost certainly going to be very disappointed for a very long time. The tiers were spreading apart too. the jump from a small starter or condo to a SFH with a yard and enough space for a family was growing larger than the appreciation of the low tier.
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Jan 17, 2023 18:55
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Joementum posted:That guy has a 4bd, 3,000sq ft home, so upgrading for more space shouldn't be a concern. the real galaxy brain is selling with appreciation to escape a climate doomed locality into a slightly less climate doomed locality its yet another reason i refuse to participate in California real estate, no one these places are going to have water or be comfortable to live within the next 10 years
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Jan 17, 2023 19:03
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The Oldest Man posted:um excuse me but i need my home to keep appreciating in value otherwise i cant continue using my heloc to make the margin calls on my 10x levered nft calls 10x? You're leaving money on the table. Real investors go 200x. Enjoy being poor. Hey, where did all my money go?
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Jan 17, 2023 19:23
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Id love a condo but the HOA fees are obscene, especially in towers. based on Portland area Ive seen most being priced at a lower value than pre-pandemic and not moving.
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Jan 17, 2023 19:31
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Mean Baby posted:Id love a condo but the HOA fees are obscene, especially in towers. based on Portland area Ive seen most being priced at a lower value than pre-pandemic and not moving. There was a notoriously hosed up building here, thrown up in the 1960s, that was facing massive special assessments and people were dumping their units left and right, under $100K for a 1br ~700sf unit. Now they're all $300K+ despite the special assessment still being locked up in litigation, I dunno what the gently caress.
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Jan 17, 2023 19:35
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condos seem to have a much less insane price change trend
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Jan 17, 2023 19:40
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never live in a condo if it's not recently built (generally that means they are not able to "catch up" with any more recently passed state legislation), and you aren't in a state that has really good association laws like I do it's really hard to comment on specific fees though because you have no idea what it's actually paying for. Also where any of those co-ops? In that case it's way higher, but there they pay for way more poo poo, like your flooring, appliances, HVAC, etc. When I actually broke down my fees and saw our finances (because I'm on our board now), I found that of my dues of 350/month, around 70% of that is for "current" costs, things like landscaping, shoveling, master insurance policy, water/sewer/electric gas being the biggest ones. The other 30% is to fund reserves, which is stuff we need to do in the future - we have to have everything budgeted out for 30 years. The biggest items by far here are the roofs and the asphalt. The thing is, most of these things I would either have to pay for in a detached home, or I could do myself, but I'd prefer not to, so I would probably pay someone. And for the reserves, that's no different than saving up for major work on a house, like anything for the roof, siding, whatever. So there's really not that big of a difference. I mean we are talking about 4200/year for all my housing "maintenance" costs which seems like a pretty good deal to me. I know people who have spent more on one maintenance cost for their home than I have in 11 years living here Also condos are small (mine is <1k SF). Very few detached homes are small because America - unless it's a really old house, which can obviously have plenty of it's own issues. I also really like having one floor. Yes there are houses like this, but it's not exactly common. actionjackson has issued a correction as of 19:52 on Jan 17, 2023 |
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Jan 17, 2023 19:47
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 incredible
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Jan 17, 2023 19:49
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There are condos a few streets away from me that sell for about half the cost per square foot of detached homes in this area. The complex is well over fifty years old and it's a run-down piece of poo poo, so those units just sit there despite houses right down the street flying off the market for almost a million dollars. The combination of HOA fees and the fact that you really need to be careful with condo purchases probably does a lot to keep sales prices from accelerating to the moon.
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Jan 17, 2023 19:52
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this is one of the few detached homes I was interested in (size + really good location), but if you check the price history it's obviously a completely overpriced flip. https://www.zillow.com/homedetails/4108-E-27th-St-Minneapolis-MN-55406/1977399_zpid/ Paradoxish posted:There are condos a few streets away from me that sell for about half the cost per square foot of detached homes in this area. The complex is well over fifty years old and it's a run-down piece of poo poo, so those units just sit there despite houses right down the street flying off the market for almost a million dollars. yes if they are really high there may be special assessments. also keep in mind they scale with square footage, so it's much better for someone like me who likes small spaces. We have some units here with fees of $800. Most of these units were bought for cash though, so it's not an issue for the owners.
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Jan 17, 2023 19:53
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isnt there different lending procedures for sfh and condos ?
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Jan 17, 2023 19:54
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euphronius posted:isnt there different lending procedures for sfh and condos ? Dunno, I just got a standard mortgage.
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Jan 17, 2023 19:55
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When I was looking to buy a few years ago, I came across this condo that was an unbelievable deal. A penthouse, 3 bedrooms, something like 1600sq, an incredible view of the city. And it was going for less than what a 2 bedroom unit on the ground floor on the building literally next door was going for. The HOA fees couldn't be that. The financials for the HOA were actually fine. It was kind of a mystery. Until I requested (against the advice of my realtor) the minutes from the last board meeting. Turns out that the building needed: 1- to completely replace the elevators, something made more complicated by the fact that no current manufacturer made elevators the size of their current shaft. 2- The sprinkler system did not provide enough water pressure to work in the top 3 floors, and insurance said coverage could continue as long as progress was being made to fixing it (no progress was being done) 3- Insurance had just rejected an 800k claim about a water leak that fried some of the electrical systems in the building, because the leak was not an accident but lack of maintenance. So the great deal was the owner trying to dump it quickly before the things mentioned on the meeting made their way into the how financials. And the reason for the disrepair was pretty obvious. It was a posh building that had become really popular with rich international students, who would have their parents buy a unit there with an eye towards reselling it after 4 years. As such, they would consistently vote down any increase in HOA fees to cover reserve or long term maintenance. Once we brought this up with our realtor and our financing guy, both pretty much went "yeah, that is a trap." Of course, neither said anything before I found that out, though it seemed like both were aware. Which just highlights that in the US no one is on your side, the pressure is all on "buy buy buy, pay more"
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Jan 17, 2023 19:56
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your realtor doesnt work for you if you are a buyer its a total scam one of these least ethical jobs out there.
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Jan 17, 2023 19:57
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joepinetree posted:When I was looking to buy a few years ago, I came across this condo that was an unbelievable deal. A penthouse, 3 bedrooms, something like 1600sq, an incredible view of the city. And it was going for less than what a 2 bedroom unit on the ground floor on the building literally next door was going for. The HOA fees couldn't be that. The financials for the HOA were actually fine. It was kind of a mystery. Until I requested (against the advice of my realtor) the minutes from the last board meeting. in my state (MN), if you buy a condo or townhome, you legally are required to have all the documents relating to the association, it's finances, etc. provided to you. If you see anything you don't like, you can literally back out within either 14 or 21 days with zero penalty. Also there are lawyers that work specifically in association law (we have one on retainer). It's worth paying one to look all that over if you are interested in purchasing. I think smaller is better. The less complicated the building, the better. There are some condos in st paul that are basically 100+ year old buildings on summit ave (the most well known and wealthiest street) that have been converted into 4-6 condos. they usually don't have much of their own "yard," they never have elevators, all sorts of other poo poo that can break. I think those are the best, personally. My condo only has three floors and 15 units, which is nice. happy to answer an questions about associations if you are for some reason interested
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Jan 17, 2023 20:03
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how much is your retainer ?? why would you pay a retainer ?
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Jan 17, 2023 20:06
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Willa Rogers posted:interior = wreck confirmed, from the one inside pic on the listing. Friend of mine had a place in oak park with a terrible garage that was originally a carriage house thing. He wasn't allowed to knock it down, but the sizing was wrong for modern cars, so it was just a shed that constantly needed repairs from being 140 years old. One of the reasons he gave up and sold Frankly the ptax on that wright home isn't bad, said friend is paying over 30k ptax now on a house he got for about the same price the wright house was initially listed at Condo sales are presumably going to rebound in this new interest rate era. For a decade, that 400/mo maintenance fee for a no frills walkup condo worked out to like 100k more house you could afford on a mortgage payment. Its a lot less now All the people I know who bought in 2009-2013 really did make a killing, it's weird how much prices shot up in that period , flatlined for 5 years, then spiked again. Then again I know someone who bought in 10 and sold for a 20% loss in 17 because he chose an area that ended up becoming "worse" mastershakeman has issued a correction as of 20:11 on Jan 17, 2023 |
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Jan 17, 2023 20:08
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actionjackson posted:this is one of the few detached homes I was interested in (size + really good location), but if you check the price history it's obviously a completely overpriced flip. $345/sq ft, lol.
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Jan 17, 2023 20:23
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$345/sq foot in......... Minneapolis!  Two thirds of all growth in wealth going to the top 1% has been just really really fine
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Jan 17, 2023 20:46
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