Can we keep one of these up lads?
Has anyone been looking at buying a house?
Buying/Renting General
Brody Collins
Leo Roberts
Ive been looking at zillow alot, wondering where i stand..
I have about 60k saved..
Make about 50..
I also have my dad who is about to retire and bring a check in every month..
And he can sell his house and make 50k hopefully.
Am i stupid to look at a 500k house?
If i did, do i haggle it down to 450?
Alexander Brown
exactly what im trying to figure out.
Add on that I have good credit, and im good with money in general
Isaiah Clark
Rent.
Housing prices where I live, (Los Angeles), have surpassed pre meltdown prices and have done so for a year.
Work in real estate. This is not going to last much longer. Interest rates up. People don't want to see to lose rates. Supply down and buyers are priced out. Should start to see some fractures with slowdown in consumer discretionary funds as oil spikes and cost of living goes higher.I think we're due for at least a 20-25% correction in home values if not more.
Saying this as someone who owns more than one home in LA and is prepared to see all my equity evaporate.
One is my primary not planning on selling. ever. One I got so cheap I don't care what the price is because I rent it at a 20 cap.
Henry Clark
What's your income?
Cameron Collins
don't just look at the cost of the house, look at the taxes, and cost of heating/cooling.
i live in illinois, right outside of chimpcago. a 500k house around these parts would have ~15k a year in property taxes.
Henry James
50k planning on rising
John King
So hold out for a few years for prices to drop?
And yes im assuming 8k a year in taxes. I live in CT.
Ayden Evans
Oh and what is the usual discrepancy between listed price and selling price?
Isaiah Peterson
I would.
I'll put it this way... I honestly believe we're at the height of this bubble. At my peak I had 6 rental properties. I sold 5 of them to get back in after correction.