Houses cost too much!

gagrice

If anyone is still around, just an update. Housing prices here in Pahrump have gone crazy. Just got this from Zillow. They claim our home has increased by $160k since we bought it. Wife says we should sell and build on the lot next door we own. Our daughter just finalized the plans on the house she is building on the other lot we own. Who knows, we may just do that.

https://www.zillow.com/homedetails/1260-Eldorado-Way-Pahrump-NV-89048/65315957_zpid/?view=public

fintail

The market is still insane here, although predictions show it cooling a little with no growth to minor (~1%) losses forecast in the next year - but when it is this unaffordable, it makes no difference to normal working people. Of course, the usual parties are still buying strong.

An old co-worker of mine sold their house in August, bought in 2015. They paid 500K for it, listed it at 800K and it was pending within 48 hours, not bad - in a popular area. My cousin bought their house in 2005, another near-peak, for 310K, now listed at 525K and going nowhere (all they've done to it in 14 years is paint), but in a decent but not hot area, prices are very localized here.

gagrice

My shooting buddy from San Diego put money on a home here in Pahrump half mile from me. Contingent on selling his home in San Diego. Built in 1957 on a very large half acre in a great location. Realtor said no problem at the listing price of $959k. Buying a newer larger home on an acre here for $280k. Moving his mail order business here to get away from the crazy taxes and high COL. Going to put a 10,000 Sq Ft warehouse/shop/office. His wife's sister lives one street over, so that was all it took to get her out of California.

fintail

Can't blame them for leaving - if I was one of the lucky ones around here who hit the jackpot on their house, I'd be looking to get out too - it's too much of a rat race, even with cost of living issues not counted. Not a relaxing place to retire. I'd head to a less populated area. Cash in that lottery ticket and enjoy what you can while you can.

Funny thing, my co-worker who turned 500K into 800K simply by sitting on it moved to Mexico. She's a dual citizen and her husband was some kind of older Xer middle manager at Starbucks who had a ton of stock. The profit on the house will buy something very nice outright in MX (I want to say Playa del Carmen) and they can live well on savings and remote working. Not the worst setup, if that's where you want to live.

Sandman6472

We live in South Florida just north of Ft. Lauderdale. Bought our 4/2 back in April of 1987 for around $116K, live on a family friendly cul-de-sac, so it's a sought after area in the rear of our development. About 1900 under air, new a/c unit in July of 2018. Kids can walk or bike to the elementary and middle school nearby. No pool so figuring we could get around $400K according to Zillow.com, give or take. Needs some interior work, new kitchen and partial master bath. We redid the 2nd bathroom in 2009 and still looks good. Figure anyone who buys will want to redo thins to their tastes so willing to drop price a bit to get a sale.
Want to go to either Ft. Myers or Venice area, possibly Orlando area where our daughter bought. They got a 4/2 or 3/2 plus office with some smart upgrades for $261K in a new development in St. Cloud. Hoping to move and be able to get new construction for around $265K and be able to bank close to $125K to put towards retirement. Definitely time to let a new family enjoy our great house!

gagrice

My Little Brother and his wife sold the two places they had in Tampa and moved to Punta Gorda Isles. They have a boat, indoor pool and the whole bit. He wanted us to move to Florida. My wife was not at all interested. I could be persuaded, though not fond of hurricanes, humidity and bugs.

fintail

Not sure if I'd want to move to FL due to the weather, wildlife, and batty locals. However, I do like the east coast beaches north of Daytona or so, at least when I have visited, quite mellow. I've only visited in the fall though.

Sandman6472

A good chance that we'll be moving over to the west coast just north of Ft. Myers within the next couple of years. Or closer to the Orlando area where our oldest is. Been in the Ft. Lauderdale/Boca Raton area for just over 50 years and feel a change is in order. We're both not crazy about any intense cold though I cold do 40's and 50's if need be. The wife can't and won't so staying in Florida is probably gonna happen. But if I never see another hurricane again in my life I wouldn't be unhappy in the least!

laurasdada

Life long New Englander, creeping towards retirement. Good chance I'll stay (the Cape? New Hampster lakefront?); cold weather? Just throw on another layer.
But, each year I do appreciate the warmth more and more, lament the passing of summer.