NFR How's the housing market where you live?

Non-fishing related
Its easier when you're younger...takes less time too.
Have fun.
 
RCF said:
Forecasted property tax increases from 2022 to 2023 in King County:

View attachment 16366

Comparison of taxes from 2021 and 2022 which went up a lot already:


Dayum!!!

Sucks but especially for those of us on a fixed income. It will be thousands of dollars in an increase next year...
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Ugh I wish this weren't true. Got notified this week that our property taxes are going up again (3rd time in 6 years) .
Then we got a realty market notice from RedFin saying our home value is up another 13% over last year. By their estimate, we are worth 2.3 x what we bought at.

Now that electorally unchallenged ....person...who is "county executive" ( what an idiotic term for county supervisor) wants to impose another 0.42% per $100,000 tax just so he can help his wasteful friends in Seattle out.
 
Coach Potter said:
Prices here in C'da and Spokane are showing signs of cracking...
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I am also seeing slight lowering of prices in Seattle/King County according to Zillow. In my neighborhood down about 1.3% in last month. A house nearby is up 20% since selling way over asking last Sept. Net result is still up 16% since it sold.

With inflation hurting people's cash flow and the raising of mortgage rates it should come as no surprise housing prices are stagnating or have slight adjustments.

What I do not understand is the forecast for housing in our area is for a 10%+ increase for the rest of the year.
 
RCF said:
What I do not understand is the forecast for housing in our area is for a 10%+ increase for the rest of the year.
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Just my opinion. I think it just simply a lack of supply of single family homes inventory.
What does come onto the market is getting snapped up quickly. It may cool down from the super hot market we've had, but I don't think they can come close to killing all the price appreciation regardless of how fast they build or number of homes that come onto the market.

Then there is what is being built. My office is in Kirkland. Right near my office was a nice older home on a corner lot. Not opulent, but I certainly would have lived in it.
Its gone now with the foundation of a new home poured. It sold for $700K. With that starting price and looking at the other new homes that were built nearby, I'm thinking $2.5-3 million will be the starting point price wise. Definitely out of my network as a starter home......
SF

www.zillow.com

11204 108th Ave NE, Kirkland, WA 98033 | Zillow

11204 108th Ave NE, Kirkland WA, is a Single Family home that contains 1130 sq ft and was built in 1952.It contains 3 bedrooms and 1 bathroom.This home last sold for $700,000 in February 2020. The Zestimate for this Single Family is $1,968,700, which has decreased by $6,529 in the last 30...
www.zillow.com www.zillow.com
 
I am sure that King County taxes suck. If they did not support so much of the rest of the state, they would not have to tax themselves that way. At some point King County residents will get fed up getting 70 cents back from the state for every dollar they send. It's easy and fine to bitch about King County and their politics. In fact, you should if you live there and feel that way. I do think that some of the anger could be used against the state senators who came up with the McCleary "fix".
 
Stonedfish said:
Just my opinion. I think it just simply a lack of supply of single family homes inventory.
What does come onto the market is getting snapped up quickly. It may cool down from the super hot market we've had, but I don't think they can come close to killing all the price appreciation regardless of how fast they build or number of homes that come onto the market.

Then there is what is being built. My office is in Kirkland. Right near my office was a nice older home on a corner lot. Not opulent, but I certainly would have lived in it.
Its gone now with the foundation of a new home poured. It sold for $700K. With that starting price and looking at the other new homes that were built nearby, I'm thinking $2.5-3 million will be the starting point price wise. Definitely out of my network as a starter home......
SF

www.zillow.com

11204 108th Ave NE, Kirkland, WA 98033 | Zillow

11204 108th Ave NE, Kirkland WA, is a Single Family home that contains 1130 sq ft and was built in 1952.It contains 3 bedrooms and 1 bathroom.This home last sold for $700,000 in February 2020. The Zestimate for this Single Family is $1,968,700, which has decreased by $6,529 in the last 30...
www.zillow.com www.zillow.com
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Yeah that was a nice little place. Little, I think, being the operative in this case... what is the predeliction /fascination here with oversized McMansions?
 
As far as Seattle metro and adjacent old time neighborhoods the momentum is going towards multi occupancy
It’s game over. NY west coast. If you own (lucky Mf) hold on.
Unless the city council wants to fuck with you
 
Our lake house neighbor just sent me a msg. Its 1250sq ft, 2 bedroom place with no garage. Built in 1977.
700K.
 
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Peyton00 said:
Our lake house neighbor just sent me a msg. Its 1250sq ft, 2 bedroom place with no garage. Built in 1977.
700K.
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A waterfront house in our Renton neighborhood (1670 sq. ft., 3 bdr,, 2bth) sold last fall for $880k. Now estimated at $1.0M (600/sq.ft).

At $600/sq.ft it is selling undervalued. S/B $750k

:unsure:🙄
 
Wiznet said:
As a mid 20s person, we are so screwed on ever owning a home :ROFLMAO:. More money for fishing gear I guess!
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I have no idea about your situation but here was my path.

I bought my first place when I was 25. I wanted a single family house but couldn't afford it so I settled with a condo. I was still pretty stoked, especially after some of the apartments I lived in during college. After a few years I was starting to outgrow it but was still not in a position to buy a house (Bozeman is pretty spendy.) So I remained patient.

It took 12 years. But at that point, we found a house in our price point and were able to use the equity and increased value to make it happen. It still wasn't/isn't everything we wanted but it was the next step. We are very comfortable and grateful to be where we are.

Sure, it will probably be harder for you then it was for me. But you might be able to still do something if you are willing to make sacrifices. You aren't going to be able to buy your dream home but can you find a small apartment to just get in the game? What about a different location? Build some equity and then in a few years maybe you are in a better position.

I have two good friends here my age (early 40's) who are stuck in the renter game because they were unwilling to sacrifice. They were stubborn and as a result they will never accumulate the kind of wealth they could've had they just got in the market early on.

Anyway, I feel for ya. But don't give up.
 
swimmy, my wife and I had to sell lucky crypto stocks to buy nearly all cash because everything was selling all cash in my town. The seller chose my wife and I because we were the only people to look at the home who were actually going to live I’m it and most of the rest looking were reps for investment groups. My modest home is now worth about as much as I have made in my entire adult life after taxes and I am 40. I don’t think the young can keep up.

We are approaching a point where it is laughable to ask the young for sacrifices. What fucking sacrifices is Wallstreet making? Shits going to hit the fan someday and if the haves of the world fall back on their old “sacrifices” bit, they will be in trouble. In the richest society ever, sacrifices should not only be made by the have nots. The rich and powerful just keep drinking their koolaid and acting like these problems aren‘t a really big deal and it just shows how out of touch they are.
 
Glad we're not starting out in this market. We have 5 young adult age kids between us. My son and his wife just bought their first home after being beat out dozens of times. 350k for a 1500 sqft duplex with 1 bath. My wife's oldest is living with her MIL trying to save for their first home, hard enough as it is without raising a 3yo. Two others are also out on their own, mostly, as renters.

Currently we only have my wife's 19yo living with us. She's a hard worker and doing well, and advancing at Panera, but not likely that will lead to a mortgage paying career. Pretty sure she'll be with us for a while. Were in a rental now but that may change quickly when she sees the neighbor properties where we are building a modest 3BR ranch.

The neighbors a very nice, friendly people who want to be good neighbors - but are clearly outside her "ideological boundaries". I have rural background, so I know we'll be fine even if I'm not riding the same bandwagon (or any bandwagon).

Actually, I'm thankful because the horrible (but fixable) access road and HOA nightmare neighbors kept the property on the market and in our price range. Totally OK with that having this in the backyard...

20220601_133909.jpg

...and BTW, of the two adjacent properties, one is now in foreclosure. The house would have to be razed, and a lot of hauling done, but it's sitting on 5 acres of beautiful, secluded, wooded land with a creek and river access via the easement on our land. It's not even in BFE. Ten minutes to town, 7 to the freeway, 40-ish to PDX, and a very nice winery about a mile down the road.
 
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SilverFly said:
Glad we're not starting out in this market. We have 5 young adult age kids between us. My son and his wife just bought their first home after being beat out dozens of times. 350k for a 1500 sqft duplex with 1 bath. My wife's oldest is living with her MIL trying to save for their first home, hard enough as it is without raising a 3yo. Two others are also out on their own, mostly, as renters.

Currently we only have my wife's 19yo living with us. She's a hard worker and doing well, and advancing at Panera, but not likely that will lead to a mortgage paying career. Pretty sure she'll be with us for a while. Were in a rental now but that may change quickly when she sees the neighbor properties where we are building a modest 3BR ranch.

The neighbors a very nice, friendly people who want to be good neighbors - but are clearly outside her "ideological boundaries". I have rural background, so I know we'll be fine even if I'm not riding the same bandwagon.

Actually, I'm thankful because the horrible (but fixable) access road and HOA nightmare neighbors kept the property on the market and in our price range. Totally OK with that having this in the backyard...

View attachment 16861

...and BTW, of the two adjacent properties, one is now in foreclosure. The house would have to be razed, and a lot of hauling done, but it's sitting on 5 acres of beautiful, secluded, wooded land with a creek and river access via the easement on our land. It's not even in BFE. Ten minutes to town, 7 to the freeway, 40-ish to PDX, and a very nice winery about a mile down the road.
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Hopefully people start rethinking making fun of people for 'Living with their parents still..' it's getting to be one of the only smart options. My family had to move in with my parents, and I'm mid thirties in age, we got plenty of space though with an inlaw apartment on the lower level, so we are quite lucky considering... At least we invested in a business, and are pretty much debt free outright owners, so we own something! I've only been doing $300k ish in sales a year average though and with profit margin were only making about 60k a year, for a family of 4, with 10k a year towards a private school, cause no f-in way they are going to public🤡 there's not much left for saving. At this pace we will have our down payment in 20 years and then we can start saving for retirement 😀. Could be worse, and I'm afraid we might just see it.
 
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