Saltwater60
20×102mm Vulcan
Yours is coming soon trust me. My second in 9 years is coming after mine was reassessed after buying it.
Many homeowners are now underwater on their mortgages with the housing downturn
- Thread starter Saltwater60
- Start date
ManualF150
.308 Win
Yes, they will reassess. Remember, not only do your costs go up, but your municipality's costs goes up... costs money for them $300k salt trucks with green lights.
My locale very recently asked me if I wanted to drive a plow truck. I have no CDL-A, but they were willing to send me to school for a few weeks before mid-January hits. I was almost considering it, but, eh, I do enough shit.
My locale very recently asked me if I wanted to drive a plow truck. I have no CDL-A, but they were willing to send me to school for a few weeks before mid-January hits. I was almost considering it, but, eh, I do enough shit.
MikeM
.44 mag
The problem was that this was a corner lot with all the free land on the side of the property, bordered by roads. Trying to relax at the pool would have been hard with traffic noise.
Saltwater60
20×102mm Vulcan
Totally understand. I just wanted to make sure you knew there were options.
Carlos Hathcock
.450/400 Nitro Ex
Listing says 349,900. Do I hear 400?Here is an example of what we want.
200 Elkins Rd, Rogersville, TN 37857 | realtor.com®
View 43 photos for 200 Elkins Rd, Rogersville, TN 37857, a 3 bed, 2 bath, 1,683 Sq. Ft. single family home built in 1984 that was last sold on 08/30/2012.www.realtor.com
In 2005, sold for $160. Seven years later, $189, now $329
TEOTWAWKI inc.
.338 Win Mag
I wonder what impact a group of low-ball *investors* could have on a local housing market. Think - 25 or so people in a coordinated effort to bombard sellers with 2019 level offers. Some sellers may accept, Realtors would get scared, the successful investor drops out and a new one joins the club. They could even keep reselling within the group to skew local comps.
*Investors* = buyers seeking a primary residence.
I think there would be a psychological effect to a seller that is getting tons of offers at 50% of listing price. They would at least lose faith in their Realtor.
It would be kind of like the GameStop thing, but for Real Estate.
*Investors* = buyers seeking a primary residence.
I think there would be a psychological effect to a seller that is getting tons of offers at 50% of listing price. They would at least lose faith in their Realtor.
It would be kind of like the GameStop thing, but for Real Estate.
Hochulsucks1234
.44 mag
I have been watching TN and KY real estate on Zillow. I filter for 50k and under. In the coming years I want to buy something with cash and not have to borrow. I expect to find mostly dumps, but I wouldn't move there right away. I could always tear down any crappy structures and plop a camper on it. One such example - 5206 Highway 25w S, La Follette, TN 37766 | MLS #610680 | Zillow . That may not be my first choice, but it is on 6 acres of what seems to be slopping land.
I gave up on looking for 50acre lots down there. They are either crap or going for too much. I think the approach of trying to find what we have in NY in TN is the wrong way of doing it. Something like I have in NY would go for over 500k down south. I look at it as a way to have something as a security net in a free state and build it how I want it over time. Honestly I wouldnt clone what I have here it is too much work with all the land and I am only getting older.
I gave up on looking for 50acre lots down there. They are either crap or going for too much. I think the approach of trying to find what we have in NY in TN is the wrong way of doing it. Something like I have in NY would go for over 500k down south. I look at it as a way to have something as a security net in a free state and build it how I want it over time. Honestly I wouldnt clone what I have here it is too much work with all the land and I am only getting older.
TEOTWAWKI inc.
.338 Win Mag
I'll start. $300K is probably fair for this one. Anyone else willing to reconsider their relocation timing and area for that price?
1460 Lewisburg Hwy, Pulaski, TN 38478 | Zillow
1460 Lewisburg Hwy, Pulaski TN, is a Single Family home that contains 6308 sq ft and was built in 1964.It contains 4 bedrooms and 4 bathrooms.This home last sold for $635,000 in October 2024. The Zestimate for this Single Family is $650,300, which has increased by $5,800 in the last 30...
www.zillow.com
spat
.700 Nitro Express
Except for the fact that the buyers monthly payment is probably higher on it now than it would have been if they paid full price a year ago.
TEOTWAWKI inc.
.338 Win Mag
Big house, 18 acres. Do I hear $575K?
TEOTWAWKI inc.
.338 Win Mag
$300K seems fair for this one too.
TEOTWAWKI inc.
.338 Win Mag
With 33 acres, this one is a beauty in the $300k range.
TEOTWAWKI inc.
.338 Win Mag
Fucking bargain at $200K.
www.zillow.com
235 Higdon St, Lynnville, TN 38472 | Zillow
235 Higdon St, Lynnville TN, is a Mobile / Manufactured home that contains 3789 sq ft and was built in 2004.It contains 4 bedrooms and 3 bathrooms.This home last sold for $515,000 in August 2024. The Zestimate for this Mobile / Manufactured is $525,000, which has decreased by $2,687 in the...
www.zillow.com
Saltwater60
20×102mm Vulcan
There’s no way that house would go for $300K here or nearly anywhere. That house is 7,400 square feet and 2.5 acres. It would cost more than that in my crappy neighborhood. It’s a nice house but too big for my liking.I'll start. $300K is probably fair for this one. Anyone else willing to reconsider their relocation timing and area for that price?
View attachment 183156
1460 Lewisburg Hwy, Pulaski, TN 38478 | Zillow
1460 Lewisburg Hwy, Pulaski TN, is a Single Family home that contains 6308 sq ft and was built in 1964.It contains 4 bedrooms and 4 bathrooms.This home last sold for $635,000 in October 2024. The Zestimate for this Single Family is $650,300, which has increased by $5,800 in the last 30...
That could have been an estate settlement. That's undervalued by quite a bit, not even accounting for recent home prices being so high. You see that a lot where one family member takes ownership of deceased family members assets. The estate basically sells the house for a certain ammount minus the estate distribution.Fucking bargain at $200K.
View attachment 183161
235 Higdon St, Lynnville, TN 38472 | Zillow
235 Higdon St, Lynnville TN, is a Mobile / Manufactured home that contains 3789 sq ft and was built in 2004.It contains 4 bedrooms and 3 bathrooms.This home last sold for $515,000 in August 2024. The Zestimate for this Mobile / Manufactured is $525,000, which has decreased by $2,687 in the...
Ie. If that property was 400k and your share of the estate was 200K, you could "buy" the house for 200K. Everyone get made whole that way.
Saltwater60
20×102mm Vulcan
Considering it’s 10K/acres for what appears to be to be poor quality land at least for my uses no thanks. 0 Ella West Cir, Lynnville, TN 38472 | MLS #2447862 | Zillow
My goal is to have a smallish ranch that is U-shaped with bedrooms on one side and living areas in the middle and bedrooms on the other side. I will build an additional 3-seasons cabin for guests. I would like 30-40 acres that’s mostly woods with a pond and a stream. I’d like a few acres cleared to have a few cows, goats, chickens, and a nice fruit/veggie patch. By the time I retire my Holme should sell for $500K-$750K depending on the market. I’m planning to save another $500K to buy whatever I want in cash.
I have no plans on living too close town so hopefully I get the outskirts of town discount. Right now I’m planning on reserving where I’m going to actually live because it’s 20 years out and a lot could change. I plan to leave NYS but my wife wants to wait to see where the kids end up. I’d like a mountain area like Tennessee, parts of NC, Idaho so where like that. Time will tell on all of it and it’s all pure speculation right now.
My goal is to have a smallish ranch that is U-shaped with bedrooms on one side and living areas in the middle and bedrooms on the other side. I will build an additional 3-seasons cabin for guests. I would like 30-40 acres that’s mostly woods with a pond and a stream. I’d like a few acres cleared to have a few cows, goats, chickens, and a nice fruit/veggie patch. By the time I retire my Holme should sell for $500K-$750K depending on the market. I’m planning to save another $500K to buy whatever I want in cash.
I have no plans on living too close town so hopefully I get the outskirts of town discount. Right now I’m planning on reserving where I’m going to actually live because it’s 20 years out and a lot could change. I plan to leave NYS but my wife wants to wait to see where the kids end up. I’d like a mountain area like Tennessee, parts of NC, Idaho so where like that. Time will tell on all of it and it’s all pure speculation right now.
meketrefe
.450/400 Nitro Ex
Endless Mortgages and loans, the modern slavery.
TEOTWAWKI inc.
.338 Win Mag
I've been watching TN real estate for several years. It used to be CHEAP there.
People have been conditioned to think these prices are normal.
@SonOfSun I think everyone in TN must have died recently.
I know there is noise in the historical data, but nearly every property listed is 2-3X what it was just a few years ago.
Saltwater60
20×102mm Vulcan
Correct, used to be cheap there. Now all the people from here and a few other states are moving there causing the price to rise.
10 years ago I wanted to move to Idaho, but hated the working conditions out there and my son didn’t want to go as a teenager so we didn’t go. I recently read an article how prices have increased nearly 4 times since I wanted to buy out there. A lot of people from California have moved there causing the prices to skyrocket. I wish I’d have bought even just a few acres of vacant land to turn a profit but I didn’t. Many small plots of land on the outskirts of boise in the mountains were affordable becuase of lack of population. Idaho and Tennessee have seen crazy population increases.
Why Idaho’s Home Values Are Increasing More Than Any State in the Country
The value of a typical home in Idaho more than doubled in the past five years—a feat no other state can claim
Here is one on population increases
Fastest Growing States 2025
Discover population, economy, health, and more with the most comprehensive global statistics at your fingertips.
subsonic
.44 mag
I guess all of you shitting on those who are in bad way don't care about the future of this country. I'll be fine but plenty of folks won't. Sure wish ill on flippers and speculators that got burned if you like rejoicing in others' misfortune, but this is bad for young working Americans who are trying to start families. Most people aren't born with cash lying around to buy their first home. Prices aren't dropping as fast as interest rates are going up, so new homebuyers are left paying as much or more for toward the mortgage with more going to the bank.
"Buy an RV" meaning a rapidly depreciating, shitty tiny home on wheels, might be fine if you're a divorced or widowed retiree or a sex offender living down by the river, but is not a great strategy for a working man trying to form or grow a family. A home loan is the only realistic path to home ownership for most young people.
"Buy an RV" meaning a rapidly depreciating, shitty tiny home on wheels, might be fine if you're a divorced or widowed retiree or a sex offender living down by the river, but is not a great strategy for a working man trying to form or grow a family. A home loan is the only realistic path to home ownership for most young people.
I am not shitting on anyone or their woes. Not really. I do though, rejoice in the fact that I have made some really good choices these past 15-20 years. It does suck that home prices are so damn high for those just starting out. I remember buying my first home in 2000, we set a top price at the time of 75 grand. That is all that I could have afforded at the time. There were plenty of homes in my area in that range. We bought our first one for $66,000. We still live in that home. No way a young family today could do this.
The thing that really sucks? Homes, cars and the like, have shot up in price much, much faster than rates of pay. A decent size family house in the Erie County area, the buyer(s) would need to earn well over 60 grand per year to afford these prices. Not a whole shit ton of jobs paying that here. They are definitely stuck a bit.
One thing that I will say though, many of the younger generation voted far Left in the last two election cycles. Elections have many consequences. May they reap what they sow.
Karpteach
6.5 Creedmoor
Be patient folks. By next May. Things will be going down up North. It will take a year later to hit the south. The economy is going down a sewer. Be patient and good things will come.
ManualF150
.308 Win
For those that saved their money and planned accordingly.
Saltwater60
20×102mm Vulcan
What we are rejoicing is the potential price drop so wouldn’t that help the people you claim to care about?
No one is shitting in anyone, but if morons buy super expensive houses right now that they can’t afford why is that my problem? I made good choices and I have tried to tell others not to buy houses right now for this very reason. People see the writing on the wall yet are spending like crazy. My sister and her husband just took out loans enough to match their salary for a year so that’s my fault?
masterswimmer
.450/400 Nitro Ex
I'll start. $300K is probably fair for this one. Anyone else willing to reconsider their relocation timing and area for that price?
View attachment 183156
1460 Lewisburg Hwy, Pulaski, TN 38478 | Zillow
1460 Lewisburg Hwy, Pulaski TN, is a Single Family home that contains 6308 sq ft and was built in 1964.It contains 4 bedrooms and 4 bathrooms.This home last sold for $635,000 in October 2024. The Zestimate for this Single Family is $650,300, which has increased by $5,800 in the last 30...
You need to be aware of certain things in listings that are and can be extremely misleading. In NY it is not permitted to include basement area as living area (living space has to have egress to the outside, and not through a garage). By law, in NY, I can't speak to other locales, but here in NY that 7,400 s/f home you're referencing above is only 4,300 s/f. It actually says that in the listing as well. Granted, 4,300 s/f is a large home in and of itself, but it is a far cry from 7,400 s/f.
Listing below grade square footage as living space gives a false representation of square foot pricing. As a 7,400 s/f home at the listing price of $700k it looks like a bargain at $95/sf. Now if you price it based on the actual above grade 4,300 s/f the price escalates to $163/sf. Not nearly the bargain you originally thought it was.
Bottom line, it's very important to fully read the listings, understand what the listings say, and be able to interpret misleading real estate agents sales tactics.
Saltwater60
20×102mm Vulcan
Correct that the basement is finished and included in the square footage but it would be here in NYS as well as it likely has two exits. It’s a walk out basement with walkout stairs as the listing states and that indicator me two exits meaning it’s legal square footage. I do t know the area it is in but I doubt with all the features it would be any cheaper here in NYS and in fact the mortgage would likely be higher due to our taxes.
True, I just wonder if we are 100% now, what are they going to call the new assessments; 150%?
Words and numbers just scratches on parchment.
masterswimmer
.450/400 Nitro Ex
Not accurate at all. That home has no egress from the basement. Even the garage is on the first floor, not basement level. It is not a walkout basement. Once you need stairs for egress it is not legal in NY to count it as living space.
Saltwater60
20×102mm Vulcan
That maybe true and I have no clue on the status thing. All I know is it said it’s a walk out basement so that to me means it has two ways in and out of it. Doesn’t matter to me since that could be a good price here or it could be expensive. I have no idea what the area is like. As you said previously 4,300 square feet is a huge house as well.