Everything we are looking at in eastern DSM is up 50% since 2019 with the only work done being… replacing the roof from the duracho damage.
Housing market
- Thread starter simply1
- Start date
Sounds like a lot of people saying what they would and wouldn't do that is out of line with the current housing market. There's not much inventory, few are selling due to interest rates. Those buying are stuck with what is out there and the current conditions.
You can say as often as you want "that house isn't worth THAT much", but your opinion will change quickly when you're actively buying. You don't have to like the prices but that is what they are. Not only are those the prices but many of them are selling over list.
If you think things are overvalued and you're looking to pay bottom dollar....you're just not going to be buying a house.
You can say as often as you want "that house isn't worth THAT much", but your opinion will change quickly when you're actively buying. You don't have to like the prices but that is what they are. Not only are those the prices but many of them are selling over list.
If you think things are overvalued and you're looking to pay bottom dollar....you're just not going to be buying a house.
I know every market is a little different, but it has not been my experience at all that new construction and existing homes are comparably priced.
I blame HGTV. Also, think about how smart an average person is, then realize that half of the world is dumber. Kitchens and master suites sell houses for some reason.
Last time we sold a house, we got feedback that the size was great, awesome huge yard, and perfect location. Buyers weren’t interested because the kitchen was dated. Gee, which of those things is easy to change?
I just finished a 4-month long house search. I didn't have a huge budget, so I saw A LOT of awful flips. I saw maybe 2 flipped houses that were done well and not stripped of every interesting detail and color. I don't get why everything needs to be gray to appeal to potential buyers. It certainly didn't appeal to me.
I think realtors would tell you the overwhelming majority of people are willing to pay more for it to already be done then to deal with doing it themselves.
Also easier to finance those already done upgrades in a 30 year fix loan instead of trying to get a Home Equity loan to finance the remodel.
Look at the map I provided above and tell me which of the new houses I should buy that isn't over a million+ or 45 minutes from my job. If a new house was 5 miles from work and slightly more expensive, sure, makes sense. But the new houses 5 miles from my work are all tear-downs over $2,000,000. I don't know what your job or finances are but I can't afford that.
Literally the only reason why housing hasn’t crashed is because no one is selling, and because of that demand is still greater than supply.
How about this one next door? $202,700 estimate on Zillow. Sometimes Zillow isn't the best, but it's saying next door is over $200k.
Sweetened up the subject with paint (prior pics seem to show some exterior clean up too), fresh appliances and sell as "turnkey". Come on in and live your dream.
Where's Mike Pace when you need him?
1517 61st St, Des Moines, IA 50311 | Zillow
1517 61st St, Des Moines IA, is a Single Family home that contains 864 sq ft and was built in 1950.It contains 3 bedrooms and 1 bathroom. The Zestimate for this Single Family is $208,000.The Rent Zestimate for this Single Family is $1,476/mo.
www.zillow.com
Yeah a lot of flips are DIY and cheap materials. I ended up buying an older house that hadn't been updated so I can slowly do it how I want with high quality.
wait until you see how the boomer DIY'd it in the 80s/90s
I thought of doing that, too, but for some reason in my market it was either bad flip jobs or not ready to be lived in, so renovating while living in the house wasn't an option, either. My patience paid off, though. I'm glad I suffered through a hundred bad houses to find the one that's nearly perfect for me.
A lot of the new DIYs all look like people are trying to be Chip and Joanna Gaines but at 1/100th of the cost
They all look as if Home Depot sells only one color of paint and one style of LVP.
That gray lvp is going to be an incredibly hated trend a few years down the road, if not already
Up until a few years ago, you saw many people moving very frequently (every 3-4 years it seemed) because rates were so low and you didn't need much down. We were in that group as we continuously upgraded our house and location from 2004 to 2015 (bought/sold Huxley, West Des Moines, Urbandale, and finally Waukee). We were never anywhere long enough to get equity.
Now, with prices and interest rates so high, it's locked a lot of people into their current house. We've now been in the same house since 2015 with no desire to fight the market as it exists. We've actually been forced to "settle in" and it'll help us down the road as we're actually building equity, got rid of PMI, etc.
There is something to be said for buying new houses that I think a lot overlook though. I am handy but don't like to do much fixing any more. We had to with our first 2 houses (split foyer in Huxley and remodeled a house in Valley Junction) and our last 2 houses have been new. Not having to worry about much of anything for 5-10 years is blissful.
Unfortunately, we're now at the point where we're having to replace appliances. It's been a decade since we bought a fridge but usually go with one of the higher-end GE's - but not the crazy stupid kind. We just ordered one this past weekend and it was ******* $3,900 after 5-year warranty, haul-away, etc. And that was with Nebraska Furniture Mart's big Anniversary Sale knocking $1,250 off the list price.
Now, with prices and interest rates so high, it's locked a lot of people into their current house. We've now been in the same house since 2015 with no desire to fight the market as it exists. We've actually been forced to "settle in" and it'll help us down the road as we're actually building equity, got rid of PMI, etc.
There is something to be said for buying new houses that I think a lot overlook though. I am handy but don't like to do much fixing any more. We had to with our first 2 houses (split foyer in Huxley and remodeled a house in Valley Junction) and our last 2 houses have been new. Not having to worry about much of anything for 5-10 years is blissful.
Unfortunately, we're now at the point where we're having to replace appliances. It's been a decade since we bought a fridge but usually go with one of the higher-end GE's - but not the crazy stupid kind. We just ordered one this past weekend and it was ******* $3,900 after 5-year warranty, haul-away, etc. And that was with Nebraska Furniture Mart's big Anniversary Sale knocking $1,250 off the list price.
