Yeah, we are seeing a shift in my area.
Prices are being reduced. Houses are coming back on the market. That 5% mortgage rate is starting to show.
I put in an offer today
good luck
hope u get it
So when’s the housing bubble bursting?
- Thread starter Dr. Truth
- Start date
good luck
hope u get it
Yeah, we are seeing a shift in my area.
Prices are being reduced. Houses are coming back on the market. That 5% mortgage rate is starting to show.
I put in an offer today
Yeah man good luck....
I been getting hit up hard about homes in Charlotte so hopefully I can find something soon...
My homie just got his offer accepted in Indian Tail, NC. Don’t sleep on the suburbs of Charlotte. Depending on how you trying to live…
Yup. That’s on the radar.
An ex of mine moved to Marvin NC
her house is huge and beautiful
i like the idea of living down there
the greenery, the space
but southern cacs rub me the wrong way
just the accent alone is enough
I feel you. I’ve been here all my life, so I can deal with them a certain way.
Hey man, what the hell do your ex do to end up in Marvin, NC?
That place uppity as hell.
Hey man, what the hell do your ex do to end up in Marvin, NC?
That place uppity as hell.
There were 1553 households, out of which 67.7% had children under the age of 18 living with them, 89.4% were married couples living together, 2.3% had a female householder with no husband present, and 5.8% were non-families. 4.8% of all households were made up of individuals, and 1.7% had someone living alone who was 65 years of age or older. The average household size was 3.59 and the average family size was 3.73.
In the village, the population was spread out, with 33.6% under the age of 18, 3.4% from 18 to 24, 33.8% from 25 to 44, 24.2% from 45 to 64, and 5.1% who were 65 years of age or older. The median age was 37 years. For every 100 females, there were 102.5 males. For every 100 females age 18 and over, there were 97.1 males.
Sounds nice but the population is 85% white.
Oh, it’s no doubt it’s mostly white. That’s Union County, which is largely conservative. All the negroes are in Monroe
Hey man, what the hell do your ex do to end up in Marvin, NC?
That place uppity as hell.
she is an Ed nurse
Has been making bank the last few years
Question for everyone - how have the annual utilities & property taxes changed respectively in your area in recent years?
Over here, despite the assessed values going up in recent years (after a few down years) ... annual utilities on our property were down about $200 from last year, and property taxes due by early-July were down about $40 - 50. The basic homeowner grant has held steady each year around $570. Just applied for that one last week, and will pay the prop' taxes in mid-June.
Over here, despite the assessed values going up in recent years (after a few down years) ... annual utilities on our property were down about $200 from last year, and property taxes due by early-July were down about $40 - 50. The basic homeowner grant has held steady each year around $570. Just applied for that one last week, and will pay the prop' taxes in mid-June.
Utilities did go down a little, but nothing significant. Property taxes definitely went down...Hell even got some cash back from my escrow account...LOL
In my area, everything is up. Property tax, utilities, and everything else.
You def can’t come in this market slippin on your pimpin.
That's good to hear. It sorta caught me off-guard here with everything else going up. Was expecting both taxes to continue climbing. Was pleasantly surprised back in Feb'. And the real estate market locally is out of touch. Far too expensive for what you're getting.
Agreed. Really have to weigh your options carefully with your finances. Stay on budget as best as possible. Buy and live within your means, or else you're cutting it close.
Yeah man I definitely was caught off guard esp. when I got that check in mail..I was like damn I haven't gotten one of these in years...LOL I am in DC also where 1800 sq. feet townhomes going for $700,000 and that's not in the downtown area...The outskirts on the border of DC/MD.....
Having side hustles helps ALOT...I just quit my part time job of 14 years, but man that extra money came in handy...I do focus groups which I keep telling people is some of the easiest money you can make....About to try and do this notary business as a side hustle so I can do things on my time....
But you right, eliminate as much debt as possible and live below your means....
@DC_Dude
Did the real estate search from Aug. 2008 - March 2009. Moved in April 1st, 2009. Previous owner bought new & moved after just over 2 years. They tried to turn a profit, despite not making any changes or upgrades. Waited for them to drop the price, and then came in below that and slowly worked our way up & met them halfway. No way in hell you're gonna make easy profit doing nothing. This is BGOL. We don't play that shit.
First handful of years it pretty much stayed within a window. Up a bit, down a bit, the same, up some more, down a bit. Then it took off for a number of years, dropped for a few, then back to climbing again.
Have discussed with some friends & coworkers ... the problem now is even if you sell and get "good money" for your place ... you're touring a market which is already too expensive. Don't really get much bang for your buck. Minus whale just continue to live where you are and keep an eye on the market. Play it safer.
Did the real estate search from Aug. 2008 - March 2009. Moved in April 1st, 2009. Previous owner bought new & moved after just over 2 years. They tried to turn a profit, despite not making any changes or upgrades. Waited for them to drop the price, and then came in below that and slowly worked our way up & met them halfway. No way in hell you're gonna make easy profit doing nothing. This is BGOL. We don't play that shit.
First handful of years it pretty much stayed within a window. Up a bit, down a bit, the same, up some more, down a bit. Then it took off for a number of years, dropped for a few, then back to climbing again.
Have discussed with some friends & coworkers ... the problem now is even if you sell and get "good money" for your place ... you're touring a market which is already too expensive. Don't really get much bang for your buck. Minus whale just continue to live where you are and keep an eye on the market. Play it safer.
Yeah, my city is really old. It’s American revolution old.
So a lot of houses inside the city are not worth the prices that’s on the market for. Houses that was 85k in 2021 are now over 200k.
people are getting hip to the bullshit and isn’t settling on fear of missing out. Why be stuck in a 30 year mortgage and the overprice house will depreciate over time when things get back in order.
The house I put a bid on today is really nice. Excellent location, but I still thought it was over priced. Realtor thought so too, so I didn’t offer anything over listing price. Just gave them a due diligence offer. I’m not expecting that to be competitive enough because people ask over the listing price. Way over the listing price.
Man, that part time teaching money I make is butter!
I told my wife, without that, we’d wouldn’t be able to get the houses we are trying to get. Even though the lender says my full time job is enough, but that would put me paycheck to paycheck. The part time money puts me over the top. And with my wife working too, we are set.
Agreed. In our province people are buying and selling 900 - 1300 sq. ft condos and townhomes in the 700k - 1.2 million range. It's wild.
Props to you re: side hustles. And like you said - focus groups too.
When I was fresh out of college, I was working like mad. Saving as much as possible and wanting to go BIG on a down payment. It worked out well in that I had the mindset that once I depleted my savings and went big on the property, it was a matter of focusing once again and building back up my savings and investments. That was the goal. And working like mad back in the day ... just didn't have the time to waste the money. Was earning more and paying taxes out the ass, but got to a place that I was more comfortable and able to work normal hours. To be able to balance everything out with savings, investments, emergency fund(s), money set aside for big bills or hidden expenses, etc. To be able to sleep at night knowing I wasn't cutting it razor thin.
Exactly!
They are selling high and buying back high. And many with a higher mortgage payment than their previous house.
I am in Clark county Las Vegas
There is a 3% cap on tax property rise per year
I bought last year and my house has gone up 30% in value But property tax is unchanged
though I must admit I don’t know how often they are supposed to be assessed
I hear you on that fully. We get plenty of the local advertising from realtors. Their glossy ads about recent sales, listings, and market %'s and such. Often see them mentioning sales that went for "well over-asking" ... and that's unsettling in a market that you know is ALREADY out of reach for many. Especially younger people and early working professionals. My dad was saying back in the day it was always a head scratcher to him when he would see 20-somethings spending money like it was going out of style. Always dressed in the latest fashions. Brand new cars. Dining out ALL the time. As an older guy - he was thinking - what about your other expenses too? Are you able to save anything? Rent or mortgage, CC bill, food, etc?
Yup that's DC in a nutshell....It's crazy...
Nice. I think locally the way they do it (B.C.) is assess the places In July of the previous year, and make those numbers available to everyone on their site by the start of the new year. Then by April or May they mail out the property tax info for us to be paid before late-June / early-July.
It's a good reference to have when you can look at some of the stats and figures for local properties and see what has gone on with their value ... when you see realtors listing places. Sometimes realtors' sites are pretty good about that too ... listing recent years' assessed values.
Another thing I find helpful too is just make a note or list of when your big expenses / bills are.
The first half of the year is just that here. Whereas I can do the bulk of my saving in the 2nd half of the year.
Feb = annual utilities
April = home insurance
May = car insurance
June = property taxes
July - January is just regular stuff like groceries, gas, CC bill. Not having to worry about setting aside X amount here, X amount there. It doesn't sound like much, but collectively it's thousands of dollars and just a matter of making sure you've got that money set aside for that. That way nothing sneaks up on your wallet.
The first half of the year is just that here. Whereas I can do the bulk of my saving in the 2nd half of the year.
Feb = annual utilities
April = home insurance
May = car insurance
June = property taxes
July - January is just regular stuff like groceries, gas, CC bill. Not having to worry about setting aside X amount here, X amount there. It doesn't sound like much, but collectively it's thousands of dollars and just a matter of making sure you've got that money set aside for that. That way nothing sneaks up on your wallet.
I keep an excel spreadsheet of my monthly bills and expenses. It has been helpful in keeping track of my credit card balances and payments.
So I pay all my bills as soon as they cut. I rather know what I have left over versus waiting to pay bills towards the end of the due date.
Agreed. That's always a good habit to have - paying them early and not cutting things close.
Nice having a general idea how much you're averaging on stuff like groceries, gas, hot water, etc.
Have a gas log in the car dating back to the early-2000s. Interesting to see the price changes over time.
Really good feature on the local credit card site. It breaks down where you're spending ... and lists about 8 - 10 different things. Food, entertainment, bills, and so on. Very helpful.
Financial Independence, Retire Early (FIRE): How It Works
Financial Independence, Retire Early (FIRE) is a movement dedicated to living frugally to retire at a young age. FIRE devotees aim to save at least 25 times their annual expenses.
FIRE movement - Wikipedia
Financial Independence, Retire Early (FIRE): How It Works
Financial Independence, Retire Early (FIRE) is a movement dedicated to living frugally to retire at a young age. FIRE devotees aim to save at least 25 times their annual expenses.www.investopedia.com
FIRE movement - Wikipedia
en.wikipedia.org
Yeah I see a lot of these young kids are really embracing this concept....Trying to retire in their mid to late 30's....
Interesting. Doesn’t seem possible.
That's smart, man. Credit to them on the focus and level of discipline required.
Personally I would like to retire in my mid- to late-50s. Only early-40s now. Been making sound choices over the years though. Also keeping an eye on stuff like savings, investments, TFSA, RRSP portfolio (mutual funds), and eventual MPP, CPP, OAS, and such. Making sure everything's in place. With the volatility of the market in recent years, definitely thinking about making things less risky (currently 90% medium risk, and 10% high risk). Probably do something more conservative. Need to get a better return on the TFSA too (move things around).
Yup same here. Good strategy