Housing Market

[PP1]

I don’t think we ever talk about houses on here. With the market being very much in favor of sellers, myself and others that I know have considered putting their house on the market just to try to cash it. I don’t think I’m going do this because I have No family that I would like to live with in order to wait for the market  to swing back to the buyers side.

It is tempting though. I think I can make about $80,000 in equity. 
 

Anyone else here been following the latest trends and prices?

Since I bought my first home in 2006, I’ve been mildly interested in this field.

[theguru]

I had a friend do just this (sell recently) and he and his wife are renting now waiting for an opportunity. 

[sportsfan41]

I think a lot of folks have talked about it.  Once my basement is finished (hopefully in the next couple of months), I would ball park that we could sell it for 70-80k more than what we still owe on it.  With that in mind though, unless I knew that was going to land me a few acres some where down the road, I just don't see any reason to do it.  We are happy where we are, just wish we had some more land is all.

[PP1]

It is tempting. I really hate packing and moving though. I also would loathe living with my in-laws.

[TheDeuce]

Sounds good in theory, but seems risky to me.

[Voice of Reason]

How long do you wait? One realtor told me these prices are here to stay. I think we are at least a couple years away from any pull back in prices. Even then, how much of a pull back will there be? Enough to warrant living in an apartment for two years or more?

[Randy Parker]

35 minutes ago, TheDeuce said:

Sounds good in theory, but seems risky to me.

That's what I am thinking.  And we don't owe a thing on our house or anything else. 

[TheDeuce]

8 hours ago, Randy Parker said:

That's what I am thinking.  And we don't owe a thing on our house or anything else. 

The money part sounds great. Who’s to say when the market evens back out? If you sell your house and move into an apartment, you may be paying more in rent than your mortgage. How long is someone willing to do that? You’d likely have to have a storage unit going from a house to an apartment, unless you just sell some of your things. I think it actually makes less sense to do it if the house is paid off. 

[PP1]

My monthly Zillow Zestimate came today. I could make 110,000.00. It is tempting but there is nothing for sale now that I want to buy and houses for rent are 500 dollars more than my mortgage. But I could pay off both cars, my student loans, couple of other small debts, and still have a good chunk of change left over. 

[sportsfan41]

1 hour ago, PP1 said:

My monthly Zillow Zestimate came today. I could make 110,000.00. It is tempting but there is nothing for sale now that I want to buy and houses for rent are 500 dollars more than my mortgage. But I could pay off both cars, my student loans, couple of other small debts, and still have a good chunk of change left over. 

Yea, we could pocket a lot but then there's nothing to buy. 

[John Anthony]

On 7/31/2021 at 8:06 PM, PP1 said:

My monthly Zillow Zestimate came today. I could make 110,000.00. It is tempting but there is nothing for sale now that I want to buy and houses for rent are 500 dollars more than my mortgage. But I could pay off both cars, my student loans, couple of other small debts, and still have a good chunk of change left over. 

Tempting until you realize you’re selling high, then have to buy high.

[rjs4470]

8 hours ago, John Anthony said:

Tempting until you realize you’re selling high, then have to buy high.

My neighbors just sold and made a ton of money. Then the deal they had on the new house fell through, and they've been living in limbo now for the last month trying (without any luck) to find a new house to buy. 

[bugatti]

On 7/31/2021 at 7:06 PM, PP1 said:

My monthly Zillow Zestimate came today. I could make 110,000.00. It is tempting but there is nothing for sale now that I want to buy and houses for rent are 500 dollars more than my mortgage. But I could pay off both cars, my student loans, couple of other small debts, and still have a good chunk of change left over. 

No option of just living in your paid-off car? 😄

[REALSPORT]

I've seen two older couples in the past year that sold and intend to live in their RV for a while.  Another older, single guy is doing the same and he took a job with the US Park service.  Living in his van.... down by the river. 😉