Buy My House

[Brett-EDH]

It's a double-edged sword. As values go up, so do insurance costs. Many insurance companies are pulling out of CA, FL, and other states, leading to higher rates. I just got a non-renewal from my insurance carrier who is leaving CA after almost 25 years with them and no claims. Looks like I'll be needing one of those Flo by Moen water devices, like it or not, but at least my new carrier has secured a fairly low cost installation package with a 5-year warranty.

Home insurance costs are not tied to your home’s market value but rather the cost to rebuild you home for labor and materials. Land values increase over time and land doesn’t burn so the land value is not included in rebuild cost.

 

[ChuckO]

I had a lot of offers, I accepted one that’s $11K over asking. I had offers > than the one I accepted, but they had issues from contingencies to more inspections and such. I’m thrilled getting what I asked let alone $11K more, the biggest thrill will be the first payment I make on my new home will be the last payment. No more house payments for the rest of my life

 

[Ed P]

Zero indebtedness is empowering!

 

[Ed P]

...Land values increase over time and land doesn’t burn so the land value is not included in rebuild cost.

I was always told, "Get lots while you're young". I should have listened.

 

[DanHoo]

I'm gonna be able to retire now.

 

[Steve Hoch]

Way more than homes around here. Though all the weirdness in the markets have blown our local housing market outta the water in costs. They're absolutely crazy here. Where we're seeing really "blue collar" type homes selling in prices at 75k to 100k OVER what they were selling for just 5 years ago. So in places you could get a modest little step up ranch, for well under $100k now $140-175. IMO that is nuts, and I am seeing an absolute "crash" coming. Because it's a pricing structure this area cannot maintain

Larry, you want to talk about ridiculous home prices? Check this listing out from my town, no basement and one car garage.

I'm gonna be able to retire now.

View attachment 101572

Spam email you received?

 

[DanHoo]

Spam email you received?

Yeah, but the only way I'm gonna be debt free for a while. I mean, who doesn't walk around with a 15.5M ATM Visa card

 

[LMichaels]

Larry, you want to talk about ridiculous home prices? Check this listing out from my town, no basement and one car garage.

Spam email you received?

That is insane. Last year we barely got that for my dad's house in Arlington Hts. Arguably a MUCH nicer/larger home than this one. 1850 sq ft on main level, 3 br ranch 2.5 bath, basement, 2 car garage, all brick, fenced yard.

 

[Ed P]

Larry, you want to talk about ridiculous home prices? Check this listing out from my town, no basement and one car garage.

Spam email you received?

I can top that, easily. This is the house I grew up in, nothing fancy, just the typical SoCal tract home built in the 50s. My Dad sold it for $27k (IIRC) in 1967.



I drive by there when I'm in the area. Some of the houses in that area have been improved, but not this one.

 

[Steve Hoch]

I can top that, easily. This is the house I grew up in, nothing fancy, just the typical SoCal tract home built in the 50s. My Dad sold it for $27k (IIRC) in 1967.

View attachment 101609View attachment 101610

I drive by there when I'm in the area. Some of the houses in that area have been improved, but not this one.

Yep, you win. That's super crazy.

 

[ChuckO]

Here’s some insanity of a different kind. I bought this condo back in 1985 for $90K, sold it for $122K five years later and now it’s worth $429K. That’s not the insanity part, when I owned it HOA was $35 a month. Check out the HOA now: $400 a month!!! Now that’s insane

356 Mill Rd, Martinez, CA 94553 | Zillow

356 Mill Rd, Martinez CA, is a Condo home that contains 893 sq ft and was built in 1983.It contains 2 bedrooms and 1 bathroom.This home last sold for $122,000 in July 1990. The Zestimate for this Condo is $428,800, which has decreased by $2,674 in the last 30 days.The Rent Zestimate for this...

www.zillow.com