Guess we will be staying in Ohio after all...

jbp-ohio

Wife did a lot of grumbling over the winter after the move back from Florida. Even looked for jobs close to our house in Florida to no avail.

Put an offer in on a house tonite up here. Out in country just how I like. I foresee more grumbling about slow internet. 

Gila

You didn't really want to change your handle, did you... 

jbp-ohio

I didn't mind living in Florida. I hated working in Florida. The heat sucked as did the wages.......... 1/3 less than up north.

One thing I don't like about Trumps economy. Housing market is HOT. Houses are selling in a day for listing price or above. Saw two listed on a Sunday and they were pending before 5pm the same day.

We got screwed out of one house. Put in a full price offer around 3pm on a Friday. At 5:30 they called and said they had gotten one more showing for 6:00pm. They put in an offer over asking. Well yeah, if you tell them there is already a bid in they know to go high.

CHIRO1989

jbp-ohio said:

I didn't mind living in Florida. I hated working in Florida. The heat sucked as did the wages.......... 1/3 less than up north.

One thing I don't like about Trumps economy. Housing market is HOT. Houses are selling in a day for listing price or above. Saw two listed on a Sunday and they were pending before 5pm the same day.

We got screwed out of one house. Put in a full price offer around 3pm on a Friday. At 5:30 they called and said they had gotten one more showing for 6:00pm. They put in an offer over asking. Well yeah, if you tell them there is already a bid in they know to go high.

Did they let you counter-bid?

jbp-ohio

CHIRO1989 said:

jbp-ohio said:

I didn't mind living in Florida. I hated working in Florida. The heat sucked as did the wages.......... 1/3 less than up north.

One thing I don't like about Trumps economy. Housing market is HOT. Houses are selling in a day for listing price or above. Saw two listed on a Sunday and they were pending before 5pm the same day.

We got screwed out of one house. Put in a full price offer around 3pm on a Friday. At 5:30 they called and said they had gotten one more showing for 6:00pm. They put in an offer over asking. Well yeah, if you tell them there is already a bid in they know to go high.

Did they let you counter-bid?

It was over priced at asking due to the market.

Linefinder

I understand your pain. The housing market here in Colorado Springs is totally nuts. California residents are moving to Denver in droves and what was a $170,000 home in Denver 5 years ago is now selling for ~$350K or more. So, a lot of longtime Denver residents are selling out, moving to Colorado Springs, and commuting to Denver for work.

Sounds good, unless you plan on staying put. I paid $190K for our house 3 years ago...on a fixed interest rate.  It's now valued at $270K,  due to property values being taxed on the latest "property value", and insurance has skyrocketed due to hail and the new "values". Our monthly note is almost 25% more than it was when we bought it. Even with a fixed interest note.

We could, of course, sell for a nice profit, but......we'd have to spend every dime of it to buy another equal.

Mike

JerryBobCo

The housing market is a two way street.  We recently sold our house after being in it for two years.  In about a month, we had 3 or 4 offers.  By law, our realtor could not tell a potential buyer what offers had been made.  She could, though, tell potential buyers that one or more offers were pending, and ask if the buyer was planning to make an offer near the asking price.  After all was said and done, though, we broke even. 

For lower priced houses, the market was totally different.  For those  homes, you had better be able to make a cash offer for over the asking price.  I saw that first hand last year when my step-daughter was trying to buy.

You can't blame sellers and realtors for getting the best deal available when selling.  It's the nature of the game.

On the flip side, try selling in a buyer's market.  That's as bad as buying in a seller's market.

JerryBobCo

One other thing I forgot to mention.  When you sell, plan on paying about 8% in selling cost.  I suppose you could forgo using a realtor, but there's a lot of stuff they do under the hood that you may not know to do.

Gila

JerryBobCo said:

One other thing I forgot to mention.  When you sell, plan on paying about 8% in selling cost.  I suppose you could forgo using a realtor, but there's a lot of stuff they do under the hood that you may not know to do.

It's 8% for closing costs now?  That's outright theft!  It was 6% when I bought my home 16 years ago.

JerryBobCo

Gila,

realtor commissions are 6% here.  But, there are lawyer fees, filing fees, etc. that add up to the other 2%.

Linefinder

JerryBobCo said:

One other thing I forgot to mention.  When you sell, plan on paying about 8% in selling cost.  I suppose you could forgo using a realtor, but there's a lot of stuff they do under the hood that you may not know to do.

I've sold 2 houses without a realtor. Believe me, I'll NEVER do that again. As you said, they do a ton of stuff "under the hood" that works out for you, whether you're a seller or buyer. In the long run their fees are chump change.

Mike

jbp-ohio

Taxes are also crazy with every school district wanting brand new schools. We got approved for the house we bid on here in town.

Did the same for this house out of town and one county over. Got approved for $20,000 more just in the tax difference alone.

jbp-ohio

Bid accepted

jbp-ohio

View down the road... One house

Linefinder

That is really nice!

Mike

Gene L

Ah, the pain of spending money on real estate you'll never get back.  Six months ago, I had to put a new drain field in my septic system at about $8k.  I'll never get that back when I (or my daughter after I'm gone) but it had to be done.  About 35-40 years, and a lot of roots grow an impede the natural workings.  I was getting backup when it rained.

jbp-ohio

I remember the day when you could get a whole septic put in for $3000..............

JerryBobCo

Good for you, JBP.  Looks like things are going your way.

Six-Gun

Great news, man.  Glad you got back there and found a place to own.

jbp-ohio

Seller lost some money today. The county is making them seal an old well on the property. Has to be done by a 'professional'.............. $2400. Ouch.