Bachelor Pad.

[Fong$tarr]

My wife and I have been trying to buy a home in the Bay Area for like 3 years and it has been dreadful. We've put in so many offers only to be well out of reach from the highest offer or at best, 2nd highest. We finally landed a condo in Oakland area which was not what we wanted but a start in trying to just live in a bigger place (I live in SF in a 450 square foot studio). So finally able to stretch our legs a little more and even start on a family. We plan on living there only for like 5 years and then move to get a house and rent it out. It's just god awful out here in the Bay Area and I swear pricing keeps going higher and higher and higher.

Congrats on everyone getting a home. I should frequent this thread a little more when I start furnishing our place. Going to go the Scandinavian route in our design.

 

[flaminhotcheeto]

My wife and I have been trying to buy a home in the Bay Area for like 3 years and it has been dreadful. We've put in so many offers only to be well out of reach from the highest offer or at best, 2nd highest. We finally landed a condo in Oakland area which was not what we wanted but a start in trying to just live in a bigger place (I live in SF in a 450 square foot studio). So finally able to stretch our legs a little more and even start on a family. We plan on living there only for like 5 years and then move to get a house and rent it out. It's just god awful out here in the Bay Area and I swear pricing keeps going higher and higher and higher.

Congrats on everyone getting a home. I should frequent this thread a little more when I start furnishing our place. Going to go the Scandinavian route in our design.

It's pretty nuts. Places are scooped up in days/weeks. We just finished our preapproval and are hunting now, and anything we checked out a week or two ago is gone. Might have to buy a tract house lol.

 

[Fong$tarr]

^^^^Yeah.....it's a nutty process. I would say on average, homes will go on the market for a week and realistically the selling agent should have enough offers to satisfy the seller. More than likely also, the seller will ask for counter offers just to see if they can squeeze out a little more money. We have been in 4 counter offers so far and one had 5 people that were given counter offers. We've even put an offer down for a home where the seller wanted for us to pay for them to stay in their home for another 2 more months on our dime. Like why wouldn't you just sell your home 2 months later rather than now. It's crazy when it's a sellers market and it's even crazier when there are so many people still wanting to buy these absurd prices.

 

[iDon’tRead]

is there a housing bubble/boom happening? remember what happened back in 2008-2010.

heard or read something about too many mortgages being from non banks which means too many people with lower credit compared to bank lenders , are being given loans and with current sales and prices it could come crashing down if there’s job losses or something to that effect in the near future

 

[alchemist iq]

heard or read something about too many mortgages being from non banks which means too many people with lower credit compared to bank lenders , are being given loans and with current sales and prices it could come crashing down if there’s job losses or something to that effect in the near future

It's definitely gonna come crashing down, it's part of American culture to buy/loan money you don't have. If every mf'er is getting the opportunity to buy a house the real estate agent probably doesn't truly care for the buyer unless he/she is making those fat commission checks.

I'm not saying people shouldn't buy homes, but I'm am saying people in this state of American economy should be weary of buying a home. It's a good investment but a good investment can also be a burden if you can't afford to maintain your investment. I can imagine seeing Buchanan of "just sold" signs turn in to "foorclosed" quickly within months if their is truly a bubble happening.


I'm still single and probably gonna get a apartment style condo in my choice ofor city.. Reason being i hate the suburbs, and don't want the responsibility that is attached to owning a home. If I want American property I'll just buy a plot of land, let it sit and sell it to some land development company.

 

[typerpinoy]

It’s crazy in NJ too. My wife and I put in a full ask offer that wasn’t accepted. The house was on the market for less than a week.

 

[stork]

blame the local government & NIMBY's. new residential building is extremely stagnant, new infrastructure building is non-existent. therefore the status quo remains, an overheated market.

 

[memphissfinest]

It’s crazy in NJ too. My wife and I put in a full ask offer that wasn’t accepted. The house was on the market for less than a week.

THAT'S CRAZY. LIKE WHAT MORE DO THEY WANT? WERE THERE MULTIPLE OFFERS?

 

[based mod]

My wife and I have been trying to buy a home in the Bay Area for like 3 years and it has been dreadful. We've put in so many offers only to be well out of reach from the highest offer or at best, 2nd highest. We finally landed a condo in Oakland area which was not what we wanted but a start in trying to just live in a bigger place (I live in SF in a 450 square foot studio). So finally able to stretch our legs a little more and even start on a family. We plan on living there only for like 5 years and then move to get a house and rent it out. It's just god awful out here in the Bay Area and I swear pricing keeps going higher and higher and higher.

Congrats on everyone getting a home. I should frequent this thread a little more when I start furnishing our place. Going to go the Scandinavian route in our design.

I'm in SD and it's the same way here. Home prices keep going higher, mortgage rates keep going higher. How tf am I supposed to afford a place when the prices & mortgage rates are increasing faster than what I can save?

 

[bobbyphills]

CLOSING IS SET FOR END OF APRIL SO MAY 1ST IS THE TARGET MOVE IN DATE. I'M HOPING TO HAVE THAT DATE MOVED UP. THE COMMUTE TO WORK FROM THE HOUSE WE ARE CURRENTLY LIVIN IN IS 70 MILES ONE WAY. DON'T KNOW HOW MUCH LONGER I CAN DO 140 MILES ROUNDTRIP MONDAY - FRIDAY. IT IS BRUTALLL. THE NEW HOUSE IS 3 MILES FROM WORK



THANKS FAM! I LIKE WORKING ON PROJECTS SO I'M EXCITED MYSELF.

Where at in Cleveland?

 

[DadNboujee]

My house was 743,000 back in 07

A similar house down the street with a smaller lot just sold for 1.2million

Looking out the window like this

 

[typerpinoy]

THAT'S CRAZY. LIKE WHAT MORE DO THEY WANT? WERE THERE MULTIPLE OFFERS?

There was one other offer. Maybe they went over ask. Whoknows? That other offer did come in before us. Our realtor told us we basically had one shot and I think we came in very strong at full ask. If the other offer was also for full ask They were just being greedy and trying to come in over which I adamantly refused to do. Pretty disappointing nonetheless.

 

[flyknitlvr]

I have a bunch of realtor friends and the shadiest thing in "hot" markets is they are often artificially propped up by these realtors who capitalize on FOMO by instructing their clients to go in at full ask or over full ask, when in fact their offer is the only offer on the property. I've heard of this happening on several occasions and it's one of the reasons why I regard realtors as the most useless people on the face of the planet.

 

[Fong$tarr]

^^^^^My uncle was my realtor and if he wasn't family, I would have been pretty damn disappointed in his work. He literally didn't do a think but submit our offer papers. We went found all the homes, went to all the open houses and literally tee'd it up for him to get his commission. It's when it's a buyer's market where they'll have to do more work, whenever the hell that will be.

 

[tmay407]

Yall need to find better realtors then. Worked in real estate for several years and we would have gotten a very strong reprimand from our leadership if they heard we were doing that ish.

 

[fluid hips]

Wealthy foreign individuals parking their money in american real estate is also to blame for these outrageous prices. It's evident on the east coast and west coast.

 

[edshoecator]

Wealthy foreign individuals parking their money in american real estate is also to blame for these outrageous prices. It's evident on the east coast and west coast.

Koreans just bought up 2 complexes near USC and booted everyone out.

 

[frank mucus]

$100k in Jordan XIs?

 

[alchemist iq]

Wealthy foreign individuals parking their money in american real estate is also to blame for these outrageous prices. It's evident on the east coast and west coast.

This is a fact. It's not Americans buying American property it's foreign super wealthy. Some farmer in Texas sold a huge land to some Chinese wealthy woman, she later turned it to suburban sub divisions. Americans ready to sell their soul just to make themselves rich.

 

[edshoecator]

This is a fact. It's not Americans buying American property it's foreign super wealthy. Some farmer in Texas sold a huge land to some Chinese wealthy woman, she later turned it to suburban sub divisions. Americans ready to sell their soul just to make themselves rich.

The American dream. Full disclosure: I’m waiting to sell out when they offer me 1 million in cash

 

[memphissfinest]

AND JUST LIKE THAT, OUR HOUSTON HOME IS NOW UNDER CONTRACT. WE RECEIVED OFFERS MORE THAN OUR ASK PRICE. TOOK A WEEK TO SELL.

 

[alchemist iq]

Congratulations, can we chill with the CAPS LOCK.

 

[1stwitit]

He’s not changing the caps, many have asked lol

 

[memphissfinest]

He’s not changing the caps, many have asked lol

I’VE BEEN ON NIKETALK SINCE 2005. AT LEAST 30+ PEOPLE EVERY YEAR SINCE HAVE ASKED

 

[alchemist iq]

Oh, you wanna them I wanna be different when I type nt'ers