Still an awesome time to sell if you can then pay cash for the next one. It’s why the empty nester/retiree migration will continue. First timers or those still with significant amount owed on the current home are pretty SOL.
Great time to sell, but you'll still need a place to live. Have to move to a market that is a lot cheaper to make it work.
There are people in desirable areas in the Greater Puget Sound netting around seven figures. Take that to ID, MT, WY, CO and you still can get a ton of house and property. Not as much as several years ago, but it will be awhile before things even out.
Not CO. Made quite a bit on my home there (bought for $250K and sold for $630K) and moved here. I got a little less house on significantly more lot for less money here.
_________________ Liberals never met a slippery slope they didn't grease.
I wish technology solved people issues. It seems to just reveal them.
Tue May 24, 2022 4:23 pm
oldkim
Site Supporter
Location: Maple Valley, WA Joined: Thu Mar 17, 2011 Posts: 9234
Real Name: Young
My Daughter and her husband are finally moving back home after 5 Years. They make good Money, but no way will they be able to afford a house in this County. I bought my House for 130K in 1995, Redfin has it at 744K!...and that's ridiculous.
_________________ Mr. Q wrote: so basically, if you have to smoke some asshole, make sure they become fertilizer and then Bounce? got it.
Guntrader wrote: Huh, maybe I was an asshole.
NRA Member/RSO SAF 5 Year Donor GOA Member
Tue May 24, 2022 4:44 pm
Eddie Dean
Site Supporter
Location: Chesco, PA Joined: Thu Aug 23, 2012 Posts: 5937
Real Name: Herbert the Pervert
Many sellers in PA are no longer accepting VA loans due to how much of a PITA they are. It's either conventional loans or cash. With that said, I'm SOL on ever buying a decent home in a decent area. I'll be a rental slave unless I win the lottery or Powerball.
_________________
Tito Ortiz wrote:
I train 6 days a week. 5 days a week I’ll train 3 days a week. One of those days I will train 2 days of the week. So 6 days a week I will train.
Tue May 24, 2022 5:37 pm
Greenecho
Location: Auburn, WA. Joined: Sat Sep 2, 2017 Posts: 533
Real Name: Steve
I really had planned on looking into buying a home with my VA loan this year. Then I quickly realized that in just 4 years, prices locally have gone on a 3 bedroom home from $170K up to $350K and higher. Its totally unrealistic. Great for people who own homes already but not for buyers. They are just not worth the price and I feel they will never be going down. The mass exodus from the West has not helped Eastern WA either. I will keep looking but probably in another county.
I purchased a home in H-E-L-L (Moses Lake) in 2018 on a couple of irrigated acres outside the city limits. I sold it in 2021 to the fist buyer full price in a week. Walked with $100k. If you can stand to live in Hell, it’s reasonably priced but rising quickly. It’s hot and a bit windy, but not Ellensburg windy. Moses Lake and most of Grant County looks like shit but there are nice places to live if you look long enough. It’s growing but not a lot. Housing market is tight from housing shortages. What attracted me to Hell was cheap housing, taxes, cheapest electric rates in the country and cheap fiber internet. Grant county PUD plans fiber Internet County wide by 2024. It now reaches George, Quincy, Ephrata, and beyond. My internet only was $52 a month. It isn’t Wenatchee expensive with all the Westies invading it. It had the basics I was looking for without the smug West coast liberal attitude. Kind of a working family atmosphere. Sometimes you have lower your expiations for peace of mind.
_________________ NRA Member SAF Member GOA Member “Those that can give up essential liberty to gain a little temporary safety deserve neither liberty nor safety.” -Benjamin Franklin
Tue May 24, 2022 6:19 pm
WitchyWoman
Site Supporter
Location: Wenatchee Joined: Mon May 16, 2022 Posts: 401
Real Name: Mina
I purchased a home in H-E-L-L (Moses Lake) in 2018 on a couple of irrigated acres outside the city limits. I sold it in 2021 to the fist buyer full price in a week. Walked with $100k. If you can stand to live in Hell, it’s reasonably priced but rising quickly. It’s hot and a bit windy, but not Ellensburg windy. Moses Lake and most of Grant County looks like shit but there are nice places to live if you look long enough.
Thanks!
That's exactly where I have had my eyeballs this year.
Tue May 24, 2022 7:49 pm
danoh
Site Supporter
Location: Sumner, WA Joined: Mon Oct 15, 2012 Posts: 3021
Real Name: Dan
Prices need to keep falling. However, I don't think they'll ever fall enough to become affordable. The only places I can see homes becoming affordable in the future is the SW due to the lack of water.
_________________
Tito Ortiz wrote:
I train 6 days a week. 5 days a week I’ll train 3 days a week. One of those days I will train 2 days of the week. So 6 days a week I will train.
My Daughter and her husband are finally moving back home after 5 Years. They make good Money, but no way will they be able to afford a house in this County. I bought my House for 130K in 1995, Redfin has it at 744K!...and that's ridiculous.
The one in Dayton is moving back?
_________________ "I hate to advocate drugs, alcohol, violence, or insanity to anyone, but they've always worked for me."- Hunter S. Thompson
Wed May 25, 2022 5:58 am
sportsdad60
Site Supporter
Location: The banana belt of MT Joined: Wed Dec 30, 2015 Posts: 8578
Real Name: Brian
I really had planned on looking into buying a home with my VA loan this year. Then I quickly realized that in just 4 years, prices locally have gone on a 3 bedroom home from $170K up to $350K and higher. Its totally unrealistic. Great for people who own homes already but not for buyers. They are just not worth the price and I feel they will never be going down. The mass exodus from the West has not helped Eastern WA either. I will keep looking but probably in another county.
I purchased a home in H-E-L-L (Moses Lake) in 2018 on a couple of irrigated acres outside the city limits. I sold it in 2021 to the fist buyer full price in a week. Walked with $100k. If you can stand to live in Hell, it’s reasonably priced but rising quickly. It’s hot and a bit windy, but not Ellensburg windy. Moses Lake and most of Grant County looks like shit but there are nice places to live if you look long enough. It’s growing but not a lot. Housing market is tight from housing shortages. What attracted me to Hell was cheap housing, taxes, cheapest electric rates in the country and cheap fiber internet. Grant county PUD plans fiber Internet County wide by 2024. It now reaches George, Quincy, Ephrata, and beyond. My internet only was $52 a month. It isn’t Wenatchee expensive with all the Westies invading it. It had the basics I was looking for without the smug West coast liberal attitude. Kind of a working family atmosphere. Sometimes you have lower your expiations for peace of mind.
A good Walleye lake there (Potholes) as well as good duck hunting too! If I ever lived in WA state again, it would be the Moses Lake area.
_________________ "I hate to advocate drugs, alcohol, violence, or insanity to anyone, but they've always worked for me."- Hunter S. Thompson
Wed May 25, 2022 5:59 am
usrifle
Site Supporter
Location: RENTON Joined: Fri Mar 25, 2011 Posts: 20754
Real Name: John
My Daughter and her husband are finally moving back home after 5 Years. They make good Money, but no way will they be able to afford a house in this County. I bought my House for 130K in 1995, Redfin has it at 744K!...and that's ridiculous.
The one in Dayton is moving back?
No, the one that's in Miami. My Montana girl isn't going anywhere!
_________________ Mr. Q wrote: so basically, if you have to smoke some asshole, make sure they become fertilizer and then Bounce? got it.
Guntrader wrote: Huh, maybe I was an asshole.
NRA Member/RSO SAF 5 Year Donor GOA Member
Wed May 25, 2022 8:26 am
WitchyWoman
Site Supporter
Location: Wenatchee Joined: Mon May 16, 2022 Posts: 401
Real Name: Mina
My Daughter and her husband are finally moving back home after 5 Years. They make good Money, but no way will they be able to afford a house in this County. I bought my House for 130K in 1995, Redfin has it at 744K!...and that's ridiculous.
The one in Dayton is moving back?
No, the one that's in Miami. My Montana girl isn't going anywhere!
I lived in Missoula as a teen for just over a year and took my first whitetail there while hunting with one of my brothers. Loved it there but I have since heard that its going to hell. Not sure how accurate that is though.
If you want to own a house, you need a foot in the door asap. House prices might dip a little during certain economic cycle but it will take off again quickly. It is very difficult to time it just right and in the mean time you'll be burning cash on rent. So even with the current high prices, it'll be better to just bite the bullet and do it.
I speak from my experience in owning a property in California's silicon valley (San Jose). When I bought it, I thought the prices was ridiculous. I now own in free and clear and its price on zillow is close to triple for what I paid for it about 16 years ago. I'm renting it out now, the rent money pays for my current home in WA.
As a landlord, I'll also tell you renting is one of the biggest waste of money. You're paying someone else's mortgage, just like my renter is paying for mine.
Wed May 25, 2022 9:50 am
Eddie Dean
Site Supporter
Location: Chesco, PA Joined: Thu Aug 23, 2012 Posts: 5937
Real Name: Herbert the Pervert
If you want to own a house, you need a foot in the door asap. House prices might dip a little during certain economic cycle but it will take off again quickly. It is very difficult to time it just right and in the mean time you'll be burning cash on rent. So even with the current high prices, it'll be better to just bite the bullet and do it.
I speak from my experience in owning a property in California's silicon valley (San Jose). When I bought it, I thought the prices was ridiculous. I now own in free and clear and its price on zillow is close to triple for what I paid for it about 16 years ago. I'm renting it out now, the rent money pays for my current home in WA.
As a landlord, I'll also tell you renting is one of the biggest waste of money. You're paying someone else's mortgage, just like my renter is paying for mine.
It doesn't make sense to purchase something I cannot afford. Sure, I may get that mortgage. The bank providing it is laughing behind my back because they know there'll come a day they yank that house right from under me. Unfortunately I don't come from money. My parents have jack shit to their name, and when they go, I'll have nothing. Relatives of mine sure as shit won't help but will be happy to give my brother $50,000 for "investing." He has lost all that money several times over the decade and they still give him money. I had a huge wad of money before leaving WA. However, some unplanned medical expenses blew it out. I've been in recovery mode since then.
This whole "buy now or miss out forever" is the boomer version of people of my generation blowing their savings on crapto currency and other stonks.
_________________
Tito Ortiz wrote:
I train 6 days a week. 5 days a week I’ll train 3 days a week. One of those days I will train 2 days of the week. So 6 days a week I will train.
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