(no subject)

[spotzle]

Real estate is reaching that frenzy where reasonable people have started hallucinating. A double wide trailer down the street - no land at all - is going for $225k.

Another house fairly close by with very nearly the same specs as ours - including land - is going for 1.2 million dollars (this sounds better if you say it like Dr. Evil.)

I am keeping an eye on both of them just for curiosity's sake.

Surprisingly not a whole lot of people in our neighborhood are selling. Mostly because, like us, where would we go?

Comments

[katharhino]

YIKES. O_O

At least you're sitting well for now. I have another DW friend from Washington who has been renting and wants to buy and it is IMPOSSIBLE.

[spotzle]

OH man. It took us three years to get this house and we had to move quick. I lost count of how many offers we made that weren't accepted on other houses. We were so lucky to get this when we did.

Now, people are making offers waiving inspections, contingencies, and making at least 10% over asking price just to be considered. Unless you have a ton of cash you aren't getting anything. It's ridiculous. We have a friend who can't make rent anymore. He makes $70k a year and can't afford rent! So he's moving to Texas when his lease is up.

I want to put up like a dozen tiny houses in the back and rent them out. Not gonna happen, but it's so tempting.

[frenchroast]

Wow. Real estate is crazy where my mom is, but it hasn't gotten quite to that level yet (probably only because it's a college town with way more rentable apartments than the norm).

And yeah. Hold on to what you've got if the market's that bonkers.