Had success protesting ours. We just bought last fall at $291k. Appraisal came in from the city at $306k. We protested saying we had purchased in the last year, so THAT was the actual market value. They approved without comment.
Housing market
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Had success protesting ours. We just bought last fall at $291k. Appraisal came in from the city at $306k. We protested saying we had purchased in the last year, so THAT was the actual market value. They approved without comment.
There are rules that are un-enforceable because they have been overturned by courts in all neighboring states.
They could be buying Land for Estate Tax Reasons if the Family is very wealthy. You could also depreciate any tile, fence, or buildings when you purchase. There are beneficial provisions for Farmers if they would happen to be above the Estate Tax Exemption Levels. Plus when they die their Heirs get a new Cost Basis at owners death and the Heirs can do the Depreciation game again on the tile, fencing and buildings again.
Why are realtors so worthless?
Sold my house in Kansas in a day. Realtor did nothing, but take some crappy pictures that really didn't do anything to help. The house basically sold itself and we didn't even get a fruit basket.
Talked to a listing agent today in Wisconsin and she is only available to show the house during the one hour open house on Sunday. She can't possibly do anything between now and then.
These people have always been pretty worthless and this hot market is just solidifying the fact.
Sold my house in Kansas in a day. Realtor did nothing, but take some crappy pictures that really didn't do anything to help. The house basically sold itself and we didn't even get a fruit basket.
Talked to a listing agent today in Wisconsin and she is only available to show the house during the one hour open house on Sunday. She can't possibly do anything between now and then.
These people have always been pretty worthless and this hot market is just solidifying the fact.
When we were looking at a house, there were two houses we wanted to look at, but couldn't schedule because they were full. In both instances, the listing agent only scheduled 15 minute blocks for 4-6 hours on a Saturday. Couldn't even bother to schedule things for Sunday, or any other week day leading up to it. The thing is though, that 4-6 hour period is all they needed to get multiple offers on the house and sell it 5-10% over asking.
I understand why they do it. They do the smallest amount of work possible and right now that is a miniscule amount.
Why don't more people use FSBO or just list it themselves?
Are the legal aspects too complicated to sell yourself?
I think for a lot of people, they just don't know where to start or what the steps are to do it by yourself.
We have a winner. I'm looking to buy for the first time and have zero clue where to even start. It's not like there is a simple easy to follow checklist online, and all the players that are normally involved have no reason to want to give up their portion of the process
If your buying, definitely go with an agent; it costs nothing for you. Just make sure you get recommendations from friends or interview agents to make sure your comfortable with them. You will have to be careful to make sure the agent is working for you and not themselves. For example, in Rhode Island, some listings advertised that the buyers agent was only going to get 2% commission instead of the typical 3%. An agent looking out for themselves will be lazy and dissuade you from seeing said house, or may be late to scheduling to the point when all appointments are booked up.
Selling can be a bit trickier, since the seller pays the commission for both the seller and buyers agent.
What was your realtor supposed to do in that one DAY your house was on the market?
Lumber Prices Post Biggest–Ever Weekly Drop With Buyers Balking
(Bloomberg) -- Lumber futures posted their biggest-ever weekly loss, extending a tumble from all-time highs reached last month as sawmills ramp up output and buyers hold off on purchases.Prices in Chicago fell 18% this week, the biggest decline for most-active futures in records going back to...
"Lumber has has now dropped almost 40% from the record high reached on May 10. "
-With strong U.S. home building expected to last for several years, lumber prices will likely remain above $500 per 1,000 board feet for the next five to eight years, said Scott Reaves, forest operations director at Domain Timber Advisors.
“We’re at a new normal,” Reaves said in a phone interview. “We’re going to see this sustained level of housing demand and a new normal for a pricing floor in lumber.”
After reading up a little more on this topic. I bet we settle around $750-$800 per 1000 feet. Which is still twice as expensive as "normal".. But by next summer we will at least see healthy supply at stores
Keep in mind a Director at a Timber company is always going to be bullish on prices. Supply and demand always wins. Especially if there is money to be made.. Too much cash in the global economy for new entrants not to take advantage
I put 3% down in 2018, I already was able to drop PMI getting an appraisal done. Bought for 196,500 and appraised at 240k. I’m already at 72% LTV after 3 years. Worked out well for me.
Socialism!!!!
Satanic leftists doing their thing again. Wake up sheeple! Your getting manipulated by the globalists
It’s a fail proof model. Buy up all the housing of your employees… when business goes bad, lay off employees, keep earning, employees then get a stimulus to maintain rent, keep earning. And you can buy it all up with mortgages at 2% or less and astronomical rent rates. Their is next to no risk for those with significant capital, or access to significant capital.
Our house in NE Iowa is basically sold right now for market value (only actual offer and it was a private buyer so no buyers realtor to deal with/pay) . We put in offer in today that was 10k over asking price on a house here in central Iowa, came in a close 2nd to the high bidder is what we were told, house had 3 total offers on it... it went on the market Thursday..
What do you know, a world with a rapidly expanding housing supply in the 1950s and 1960s had numerous and attractive opportunities for "starter homes" for young families. Higher interest rates also instilled some discipline in the market -- higher interest payments for borrowers, yes, but it put downward pressure on asking prices and discouraged investors from investing into real estate on margin as a speculative asset.
The real problem here is not "Dreamcrusher Capital." Private equity doesn't own that much real estate or have that much power in local governments that set zoning and land-use policy. The problem is incumbent homeowners who deliberately suppress housing supply to preserve the value of their homes through scarcity. I live in a pretty posh neighborhood, and basically every home here has a "KEEP THIS **** OUT!!!" sign in front of it decrying a proposed mixed-use, high-density development that would add a few hundred housing units.
Sure, they say it is about "not changing the character of the neighborhood" or "making sure the schools maintain their quality" or other such coded/vaguely racist comments, but what they are really doing is making sure their investments payoff. If anything, "Dreamcrusher Capital" is the hero here for trying to invest in new housing stock, which would put downwards pressure on prices. But, alas, as typical with our society nowadays, the entrenched interests of the upper-middle class win out and the upper-middle class keeps on thinking it is somehow the stratum of our society that is doing the most suffering and needs the most help.
I cannot think of an economy that actually works like this outside of maybe like a "company town" of yore in coal mining West Virginia or oil boom western Texas or something like that.
If you could tell me about five people where their employer literally "owns" (or at least has a lien against) their home when that employer is not a bank, then I would be really impressed.
