Real estate General topic

[Jstpssng]

I knew a landlord who evicted a tenant for nonpayment. When it came time to clean up he discovered she had dumped cat litter down the drilled well. He moved the trailer out and that lot set empty for 15 years.

 

[tradosaurus]

My wife and I drove by a house for sale down the road from us.
1900 ft2 with 6 acres in an ok location
House built in 1960s and everything in it dated.
They are asking $200k.
Back in 2017 we paid $250k for a 2500ft2 house that was well kept and 45 acres for $250k.
I guess our property is worth at least $600k.

 

[paulsharvey]

My wife and I drove by a house for sale down the road from us.
1900 ft2 with 6 acres in an ok location
House built in 1960s and everything in it dated.
They are asking $200k.
Back in 2017 we paid $250k for a 2500ft2 house that was well kept and 45 acres for $250k.
I guess our property is worth at least $600k.

Honestly, your probably is worth that, depending on property, location, markets, ect.

 

[CloverKnollFarms]

True. We built on 8 acres in 2018 for $275k. Now sitting on about $500k.

That's life.

 

[tradosaurus]

True. We built on 8 acres in 2018 for $275k. Now sitting on about $500k.

That's life.

My house was built in 1973 but will taken care of.
Your house would be worth more per sq ft given how new it is.

 

[caver]

My folks tried rental property back in the 70's. Rural area then but now has subdivisions next door. They were late on rent so dad went by to collect. Husband and Wife no kids. Dad said it looked like a bowl of soap was slung half way around the room and had dried on the walls. I think they fought a lot. parents got rid of them and sold that place never to buy rental property again.

 

[ultrarunner]

I can manage rentals but what has happened in the last 20 years to housing providers to get bad tenants out is a travesty.

I use to be able to simply not renew the lease but those days are over.

Unlawful Detainer actions resolved in weeks and now 6 to 12 months and even longer.

Security deposits limited now to one month… forbidden to run criminal background, can’t say no to tenant running a daycare business or having pets… I mean companion animals with MD note, etc.

Wonder why we hear about shortage of housing and my first thought is who would willingly enter the business knowing the risks?

Like many regulations that start out small the reality is over 40 or 50 years they grow to be all encompassing.

I’m glad I shifted from housing provider to commercial for the most part…

I’m not alone in that I know many that refuse to own anything with a bed…

That said I have good renters on balance, some going back decades but it only takes 1 or 2 tenants from hell to change one’s prospective… and the pandemic years of government eviction prohibition laid it all bare.

 

[2manyrocks]

True. We built on 8 acres in 2018 for $275k. Now sitting on about $500k.

That's life.

That is the effect of increasing the money supply since 2019 at a pace not seen since the federal reserve was created. A 5 gallon bucket used to be .99 and they are now 4.99.

 

[ultrarunner]

That is the effect of increasing the money supply since 2019 at a pace not seen since the federal reserve was created. A 5 gallon bucket used to be .99 and they are now 4.99.

Ain’t that the truth…

Prices are all over the place but the increases mostly dramatic.

Many trips to the hardware store I walk out with a bag and spent $100

I’ve never been good at forecasting but my daily in box overflows with local real estate price reductions.

I’m sure there are many factors, higher rate to borrow, more inventory to choose, location not in high demand, new laws for buyers, sellers and brokers… etc.

 

[Jstpssng]

Wonder why we hear about shortage of housing and my first thought is who would willingly enter the business knowing the risks?

You left out optional rent payments during the COVID era.