Selling Our House For 3x What We Paid (3 Viewers)

[Colquhoun]

Real estate is just as crazy here on Long Island NY…
In fact, many are moving to Florida to get a better deal.

 

[Anthony Martino]

Real Estate is just as crazy here on Long Island NY…
In fact, many are moving to Florida to get a better deal.

Zero interest in moving back up north

 

[buffalojim]

Zero interest in moving back up north

That's hurtful.

 

[Lil Tuna]

Just a quick example from Zillow here locally. These are brand new homes listed.

 

[ChrisTot]

Five years ago we bought this 3 bed, 2 bath double wide on over 1/2 acre of land for 80k

The market here in Tampa has exploded, so we listed for sale by owner on Zillow and were inundated with realtors begging to rep our home and offering to take 3% to cover both buyers and sellers agents

We listed the home at 225k based on comps I researched, and received an offer sight unseen at 232k, but it's FHA

Also got a sight unseen cash offer for 200k

For shits and giggles I checked with my old bosses son who is a realtor and he ran the comps and said I was spot on, he got 225-227k

But there's a similar home pending at 315k, if it goes through it would jump our home to 300k!

We have a bunch of people coming Saturday so we'll see what offers we get

Was just staining the entrance since that weathered wood look wasn't doing us any favors

View attachment 910441View attachment 910442

Once we sell we're asking for 60 days to retain residency while we relocate

Looking at Georgia, Carolinas, Alabama, Tennessee. Kentucky, Arkansas, Mississippi and Louisiana as we can get more home for less since florida pricing is nuts.

Plus where we live it used to be all pasture and open fields, but over-development has turned it into a traffic nightmare, as they plunked down tons of housing communities and all sorts of concrete jungles (i.e. shopping plazas) have been put in, traffic lights everywhere and there's no end in sight. We want to move to a small town preferably, get away from the hustle and bustle.

We had done that 5 years ago, but it's quickly becoming a big town now

As somebody who doesn't own a home and might never own one at this rate, can I ask a general question? If your house, in this case, is selling for 3x, isn't any house you buy going to be similarly priced, making the move somewhat lateral?

If it's just because you want to get out of Florida I understand completely. Housing seems to be insane everywhere.

Lateral if you are moving into a house that used to cost what yours used to cost.

Great value if you are downsizing. More expensive if you are upsizing, If a house costs 200 and another costs 350, one goes up by 400 while the other goes up by 700.

 

[Colquhoun]

Just a quick example from Zillow here locally. These are brand new homes listed. View attachment 910511

Around here, a 3-bedroom splits built in the ‘50s are going for 600K…
Texas is looking good!

 

[Lil Tuna]

That's hurtful.

My parents live in Rockport Maine, it’s absolutely beautiful there in July and August. No way I could handle the winter months there.

 

[buffalojim]

My parents live in Rockport Maine, it’s absolutely beautiful there in July and August. No way I could handle the winter months there.

Our winters can suck, but I'd never move from here

 

[LeLe]

Good luck in your Selling and Relocating to a new area, at least Fixed Asset like property are holding strong unlike Crypto price.

It dropped so much over past few months

 

[ThinkingFold]

Best of luck what ever you decide going forward Anthony and congrats to you and your wife.
Just a side note…….
I’ve officially been in west Texas now for one year, absolutely love it here. No state income tax, cost of housing still affordable, very low humidity most of the time and still plenty of space if you don’t want to be on top of your neighbors.
Local card rooms are becoming very popular here as well. View attachment 910461

Guess I am in the minority based on recent population trends, but how anyone could look at those temps and say "that's where I want to be" is beyond me.

 

[Lil Tuna]

Around here, a 3-bedroom splits built in the ‘50s are going for 600K…
Texas is looking good!

I only paid $262k for my brand new home here last fall.
1800sqft, 3 bed, 2 bath, 2 car garage all brick all one level with 10ft ceilings throughout.
It’s in a neighborhood where the homes are close together but it’s very low maintenance which was what I wanted.
10 mile views from my back porch, 15 minute ride to work and traffic is nothing compared to back east.

 

[Machine]

Guess I am in the minority based on recent population trends, but how anyone could look at those temps and say "that's where I want to be" is beyond me.

Well its great weather to grow Peppers!!!

@Lil Tuna - thanks for the address and plate number, I'll see you next week!

 

[Lil Tuna]

Guess I am in the minority based on recent population trends, but how anyone could look at those temps and say "that's where I want to be" is beyond me.

It’s a dry heat.

 

[MrCatPants]

Guess I am in the minority based on recent population trends, but how anyone could look at those temps and say "that's where I want to be" is beyond me.

Many would say that about winter temperatures in other parts of the US. To me it's a pick your poison. Hot as balls summer, freeze your ass off winter, or San Diego.

 

[Anthony Martino]

Many would say that about winter temperatures in other parts of the US. To me it's a pick your poison. Hot as balls summer, freeze your ass off winter, or San Diego.

I just need myself some @Windwalker money and I'll move to Hawaii

 

[Lil Tuna]

Well its great weather to grow Peppers!!!

@Lil Tuna - thanks for the address and plate number, I'll see you next week!

I do host my friend, welcome anytime.

 

[ThinkingFold]

Many would say that about winter temperatures in other parts of the US. To me it's a pick your poison. Hot as balls summer, freeze your ass off winter, or San Diego.

Can always throw a thicker coat on. But will always be a limit to what you can take off.

Just will never understand southern gentlemen and their love of sweaty balls sticking to your legs.

 

[Lil Tuna]

I just need myself some @Windwalker money and I'll move to Hawaii

We all could use some of that.

 

[Lil Tuna]

Can always throw a thicker coat on. But will always be a limit to what you can take off.

Just will never understand southern gentlemen and their love of sweaty balls sticking to your legs.

It’s a dry heat.

 

[Nanook]

My wife is a realtor. Things are certainly crazy here too, just like everywhere. Lots of people won't be affected all that much if they just want to move down the street, nearby etc. You are going to pay 2x or whatever, but you can sell for 2x as well. The way it is right now is really bad for young people trying to buy their 1st house, but is great for those moving out of their last house. Other than that you have to move to completely different places, like a big city to somewhere rural to take advantage of the current market.

Mark my words: 2 yrs from now real estate prices will be lower by a minimum of 25% most everywhere. Considering everything is up 25% in the last yr, it really shouldn't be all that big a concern. Still, the current environment is nearing an end and a cycle high in real estate.

 

[Anthony Martino]

What's nice is the minimum entry point in my area is around 450k so we're the bargain in the area

 

[Stufflymcstuff]

Look below for what roughly 1m usd will get you in Toronto. Be grateful. It’s not even a matter of affordability, the rent to price ratio is so shitty that it doesn’t even make sense to buy if you can. But people keep buying. People are paying 2m for houses that rent for less than 50k/y not including maintenance costs. they’re completely undeterred by that sub 2% net cash flow cuz lol real estate always goes up … Toronto real estate to the moooon!

https://www.realtor.ca/real-estate/24251752/58-blaney-cres-toronto-glenfield-jane-heights

https://www.realtor.ca/real-estate/24310335/138-hatherley-rd-toronto-caledonia-fairbank

 

[buzzmonkey]

My parents live in Rockport Maine, it’s absolutely beautiful there in July and August. No way I could handle the winter months there.

The key is to have a reasonably sized driveway and a snowblower.

 

[timinater]

Yeah, the obvious answer here is to move to Moose Jaw.

Good luck with the sale and relocation!

 

[swana]

Yeah, the obvious answer here is to move to Moose Jaw.

Good luck with the sale and relocation!

Almost moved to Melville when I was a kid... not gonna lie, feels like I dodged a bullet.

 

[ekricket]

larger home with space for me to have a studio and some privacy from the hustle and bustle of big cities.

There are only 2 million people in the WHOLE STATE of New Mexico. 1.5 million of them live in albequerque. Leaves most of the state pretty wide open for the rest of us. Fiber optic for under $60 a month.
Spectacular roller skating, except we call it skiiing.
Acreage can be had as low as $400 an acre, but that is probably more remote than you want.
Plus, if you happen to kill somebody while you are filming nothing will happen to you.

 

[Colquhoun]

I think prices will obviously come down as the interest rate goes up….but the monthly cost will be near equivalent.

 

[Forty4]

Our winters can suck, but I'd never move from here

I love the winters here, just wish summer was a little longer.

 

[buffalojim]

I love the winters here, just wish summer was a little longer.

True true, we've been fortunate here the last 5 years with mild winters compared to what we normally experience. You're up the road so it's probably similar.

 

[Anthony Martino]

A 3 bed 2 bath home rental in my area is like $2,500-$4,000/month! Lots of cash buyers are picking up properties and turning them into rentals.