Someone can be preapproved for 300k. And can get housing in the school district they want, with neighbors who look like them for 180k

They will shop 400k houses and get mad when the sellers won't take a 300k offer and contribute 20k to their closing cost.

This is just more fodder for the low IQ voters and politicians.

I see, tough negotiations. My suggestion, have a beer or four and shrug it off.

Your house is overvalued.

Word.

Bought my house in 17 for @$125 sqft. Now similar houses around us self for $215-$250.

Not sustainable.

Quote:

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And can get housing in the school district they want, with neighbors who look like them for 180k

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Maybe where you live, but not in Houston.

Living in a school district that's good costs big cash here.

Quote:

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And can get housing in the school district they want, with neighbors who look like them for 180k

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For $180k....

so they look like hood rats.

Uhhhh

"Neighborhood they want" for $180K???

Maybe that house really isn't worth $400k. Maybe they're lowballing because it's been sitting on the market for an extended period of time.

I've been watching the housing market pretty closely for the past year in our area. I see a lot of sellers that aren't serious in selling. Their houses have sat for months and they reduce the price here and there $5-10k, but the house continues to sit. That's telling them something they're not willing to accept - their house isn't worth what they hoped, regardless of what comps from a year plus ago may show.

The only houses I'm seeing move are those that are in the primo neighborhoods and/or don't require much in renovations.

I feel bad for people looking for houses nowadays. They are insane. I bought my first house at 25 for $150k. 4 years later sold it for 175k and bought a bigger house for 250k. It's now valued at 550k.

My old house is over double what I paid for it...and its a true starter house. 3 bed 2 bath 1600 sq ft.

My brother moved to a neighborhood near mine a few years ago at the height of covid and paid way more for it than he can likely sell it for now.

Sucks.

I know of a house that's been sitting on the market for a million about a year. I don't know what the monthly rate on that would be but I know with Bidenflation the interest rate narrows the number of potential buyers substantially.

Similar for me. 1st house at 28 for $168K. OK school district but not the most desirable in the Houston area. Now valued around $325K. Lucked into our current house for $240K 5 years ago. Now valued at $4-something.

I thank my lucky stars every day that I didn't end up living in Houston. Texas Hill Country FTW.

Cash flow in the house flipping business can be a ***** sometimes. Hang in there - inflation is your friend and you will come out the other side.

itsyourboypookie said:

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Someone can be preapproved for 300k. And can get housing in the school district they want, with neighbors who look like them for 180k

They will shop 400k houses and get mad when the sellers won't take a 300k offer and contribute 20k to their closing cost.

This is just more fodder for the low IQ voters and politicians.

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They're right. Too many people are sitting on properties that aren't worth what they want to get because they remember a piece of paper 3 years ago that told them their house was worth $100K more than it is now.

Sorry things change. Voting for a lib presiddent caused interest rates to sky rocket. This led to devaluation of real estate because people couldn't affort the mortgage rates on the next home. Virtually most of Texas but especially in the tech heavy corridors saw housing drop 20+%.

txaggie_08 said:

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Maybe that house really isn't worth $400k. Maybe they're lowballing because it's been sitting on the market for an extended period of time.

I've been watching the housing market pretty closely for the past year in our area. I see a lot of sellers that aren't serious in selling. Their houses have sat for months and they reduce the price here and there $5-10k, but the house continues to sit. That's telling them something they're not willing to accept - their house isn't worth what they hoped, regardless of what comps from a year plus ago may show.

The only houses I'm seeing move are those that are in the primo neighborhoods and/or don't require much in renovations.

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They dont actually want to sell...because they then have to buy somewhere else and can't swing the new higher price home plus the higher mortgage rate.

It will take another year or more to reduce the rates and get things moving again.

If American's wanted affordable housing that would vote for politicians that don't print money.

Thunderstruck xx said:

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I thank my lucky stars every day that I didn't end up living in Houston. Texas Hill Country FTW.

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Houstonians and Californians are taking over the hill country.

WestAustinAg said:

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txaggie_08 said:

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Maybe that house really isn't worth $400k. Maybe they're lowballing because it's been sitting on the market for an extended period of time.

I've been watching the housing market pretty closely for the past year in our area. I see a lot of sellers that aren't serious in selling. Their houses have sat for months and they reduce the price here and there $5-10k, but the house continues to sit. That's telling them something they're not willing to accept - their house isn't worth what they hoped, regardless of what comps from a year plus ago may show.

The only houses I'm seeing move are those that are in the primo neighborhoods and/or don't require much in renovations.

---

They dont actually want to sell...because they then have to buy somewhere else and can't swing the new higher price home plus the higher mortgage rate.

It will take another year or more to reduce the rates and get things moving again.

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Even worse if you are over 65. My neighbor is having a tough timr holding on with inflation, even though her property taxes are pretty low.

She is terrified of where she would end up if she has to move. Absolutely terrified.

CDUB98 said:

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Quote:

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And can get housing in the school district they want, with neighbors who look like them for 180k

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Maybe where you live, but not in Houston.

Living in a school district that's good costs big cash here.

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I agree with what you're saying. But just looked and you can buy a 2700 sf home for $450k built in 2007 zoned to highly rated KISD schools right now in Cinco Ranch West.

Thompkins HS. (All schools A and 5/5 stars on HAR)

I'm no expert on Katy but I find Houston way more affordable than other major metros. You just have to be suburbia.

But yes any closer in area is an arm and a leg. Not trying to jump on you with my post or anything.

He's talking about $180k. $180k near Houston is the slums.

I was responding to CDUB about "big cash" not the 180k reference.

Where in America does 180k get you what you'd really prefer for schools and neighborhood?

AggieKatie2 said:

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Word.

Bought my house in 17 for @$125 sqft. Now similar houses around us self for $215-$250.

Not sustainable.

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Part of this is covid shut downs and Bidenflation. I had a chance to buy a property and build, but looking at raw materials it was going to be like $700,000 for 3,000sf and nice but not lavish finishes.

AggieKatie2 said:

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Word.

Bought my house in 17 for @$125 sqft. Now similar houses around us self for $215-$250.

Not sustainable.

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Sell.

BkYdPitmaster said:

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AggieKatie2 said:

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Word.

Bought my house in 17 for @$125 sqft. Now similar houses around us self for $215-$250.

Not sustainable.

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Sell.

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And be homeless?

txaggie_08 said:

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He's talking about $180k. $180k near Houston is the slums.

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Not in southeast Houston. Danger lurks, but not the slums.

Bondag said:

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BkYdPitmaster said:

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AggieKatie2 said:

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Word.

Bought my house in 17 for @$125 sqft. Now similar houses around us self for $215-$250.

Not sustainable.

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Sell.

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And be homeless?

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Same boat for me. I really don't know where I'd go. Except somewhere with no neighbors in sight.

BkYdPitmaster said:

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AggieKatie2 said:

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Word.

Bought my house in 17 for @$125 sqft. Now similar houses around us self for $215-$250.

Not sustainable.

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Sell.

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If only it was that simple.

Believe me we have considered and looked. To buy just a little bigger or on a bigger lot would increase our monthly mortgage payment 2-3k even if we used all of our equity as a down payment.

In the meantime we keep paying property taxes on the $250/foot.

WestHoustonAg79 said:

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I was responding to CDUB about "big cash" not the 180k reference.

Where in America does 180k get you what you'd really prefer for schools and neighborhood?

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Back in time in 1970s America.

Even College Station has higher home prices per square foot in the more desirable school zones.

Logos Stick said:

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Quote:

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And can get housing in the school district they want, with neighbors who look like them for 180k

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For $180k....

so they look like hood rats.

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I wonder how much extra the average American spends on housing and commuting costs in order to not live in "the hood", compared to a similarly situated person in a homogeneous country.

AggieKatie2 said:

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Word.

Bought my house in 17 for @$125 sqft. Now similar houses around us self for $215-$250.

Not sustainable.

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And that means higher insurance costs as well.

The cost to live in a safe area with access to good public schools is an issue for sure. We navigated it ok with our meager but gradually improving budget over the 20+ years the kids were in public schools. We couldn't afford private schools.

The wife and I were talking about this recently and agreed if we were starting out with young kids today, the economic issues combined with all the social garbage being thrown at them in public schools, would force us to home school. Buy a cheaper, safe place that doesn't have to be in a top school district, and commute as needed to work a job that pays the bills.

And after putting three thru A&M, I wouldn't assume that college means a four year ride either with how ridiculous costs have become and how severely the curriculum has degenerated. Two years in a nearby community college for basic classes, followed by two at a good public university for the degree, and they're good. Or even a trade school if they're more inclined that direction instead of the books.

Gotta make adjustments as you go. I feel for the younger crowd these days; not getting any easier.

MemphisAg1 said:

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Two years in a nearby community college for basic classes, followed by two at a good public university for the degree, and they're good. Or even a trade school if they're more inclined that direction instead of the books.

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This was always the case. Our "boomer" parents dumbed it down to "go to college or you will fail in life."