Moving to the Triangle - Real Estate insanity

[jimsumner]

Attachment 11394

In 2006, Hollywood released two unrelated movies about that place. Seriously.

Zyzzyx Rd: low budget movie starring Katherine Heigl
Zzyzx (retitled Burned): low-budget movie not starring Katherine Heigl

The first one holds a dubious record. From Box Office Mojo:

By definition any movie with Katherine Heigl is low budget.

[Skydog]

Attachment 11394

In 2006, Hollywood released two unrelated movies about that place. Seriously.

Zyzzyx Rd: low budget movie starring Katherine Heigl
Zzyzx (retitled Burned): low-budget movie not starring Katherine Heigl

The first one holds a dubious record. From Box Office Mojo:

More embarrassingly, Zyzzyx Road was not only 2006's lowest grossing movie with a mere $30, it was also the lowest grossing movie of all time—or at least the lowest grossing movie for which its box office is known.

What’s the guess here - a couple on date night and a single person taking a flyer?

[jimmymax]

Then you'd really like the town of Conetoe. It's near Rocky Mount. It's pronounced ka-knee-ta. Seriously.

Yep, and nearby Pinetops is pa-knee-tops. :-)

[Mtn.Devil.91.92.01.10.15]

Wow! Less money than Cabin Boy? That if seriously impressive.

Would you like to buy a monkey?

[brevity]

Attachment 11394

In 2006, Hollywood released two unrelated movies about that place. Seriously.

Zyzzyx Rd: low budget movie starring Katherine Heigl
Zzyzx (retitled Burned): low-budget movie not starring Katherine Heigl

The first one holds a dubious record. From Box Office Mojo:

More embarrassingly, Zyzzyx Road was not only 2006's lowest grossing movie with a mere $30, it was also the lowest grossing movie of all time—or at least the lowest grossing movie for which its box office is known.

What’s the guess here - a couple on date night and a single person taking a flyer?

For once the Internet doesn't disappoint, so we don't have to guess. Six customers paid $5 each. Two of them got a refund. Read on...

EW.com: How Zyzzyx Road only grossed $30.00

Zyzzyx ran for seven days at Dallas’ Highland Park Village Theater, with a single screening each day at noon. When it closed, exactly six people had gone to see it, for a total gross of, yes, $30. One of those paying customers was Sheila Moore, a Dallas-based makeup artist who had worked on the film...

...The Dallas screening was never meant to be a real theatrical run. Instead, it was set up to fulfill a Screen Actors Guild agreement, which permits low-budget films to pay actors a lower rate as long as the film gets a domestic theatrical release...

When [actor/producer] Grillo heard that she [Moore] and her friend had paid admission to the Dallas screening, he insisted on refunding their money. Zyzzyx, it turns out, actually made $20.

[Indoor66]

In what as best I can tell is a pure coincidence (I don't think the song was written for or used in either film), the band Stone Sour also released a song titled Zyzzyx Rd that year.

There is always good old Aho in NC - just north of the Boone-Blowing Rock Road.

[LasVegas]

So……I made it! The only issue is the market has gone CRAZY. We bid on two homes in holly springs. $35k over asking for both and we lost. The first one was listed at $475k and the second was $500k. I initially didn’t want to go over $400k but the market has really forced me to increase in order to get what we want/need. Looking at two more homes this weekend and will probably go $50k over ask for both. Unbelievable and a total waste of money.

[-jk]

So……I made it! The only issue is the market has gone CRAZY. We bid on two homes in holly springs. $35k over asking for both and we lost. The first one was listed at $475k and the second was $500k. I initially didn’t want to go over $400k but the market has really forced me to increase in order to get what we want/need. Looking at two more homes this weekend and will probably go $50k over ask for both. Unbelievable and a total waste of money.

It's been insane around DC, too. I'm glad I'm not moving just now!

-jk

[Mtn.Devil.91.92.01.10.15]

So……I made it! The only issue is the market has gone CRAZY. We bid on two homes in holly springs. $35k over asking for both and we lost. The first one was listed at $475k and the second was $500k. I initially didn’t want to go over $400k but the market has really forced me to increase in order to get what we want/need. Looking at two more homes this weekend and will probably go $50k over ask for both. Unbelievable and a total waste of money.

Happening all over NC. Market here (Asheville) has erupted in the last two years, and it was high to begin with. My realtor friends say if you wait for something to hit the market, it's probably too late.

I wish you good luck. It's very competitive out there.

[LasVegas]

Happening all over NC. Market here (Asheville) has erupted in the last two years, and it was high to begin with. My realtor friends say if you wait for something to hit the market, it's probably too late.

I wish you good luck. It's very competitive out there.

Thanks. There really is no end in sight either. At this pace, all the homes west of Raleigh will be in the million range in no time. So we are really trying hard to get something as quick as possible so we don’t get priced out of areas and the sq footage we need.

[bundabergdevil]

Happening all over NC. Market here (Asheville) has erupted in the last two years, and it was high to begin with. My realtor friends say if you wait for something to hit the market, it's probably too late.

I wish you good luck. It's very competitive out there.

Happening lots of places. I’ve been watching the Zillow, Redfin estimates on our house creep up 20% over the last year in Chester county, PA. Our old realtor has practically been begging us for referrals.

[jimsumner]

So……I made it! The only issue is the market has gone CRAZY. We bid on two homes in holly springs. $35k over asking for both and we lost. The first one was listed at $475k and the second was $500k. I initially didn’t want to go over $400k but the market has really forced me to increase in order to get what we want/need. Looking at two more homes this weekend and will probably go $50k over ask for both. Unbelievable and a total waste of money.

Buy both of them, wait a few months and move the one you like least and make a big profit. Fund the kid's college years.

Only half joking.

[budwom]

Things won't change much until the cost of building materials gets reasonable again (the trend is beginning, but there's a long way to go). Just not enough inventory anywhere you'd want to live...

[aimo]

Happening lots of places. I’ve been watching the Zillow, Redfin estimates on our house creep up 20% over the last year in Chester county, PA. Our old realtor has practically been begging us for referrals.

according to Zillow, mine just shot up another 9% in the last couple of months. Triangle market is insane right now.

[CrazyNotCrazie]

Things won't change much until the cost of building materials gets reasonable again (the trend is beginning, but there's a long way to go). Just not enough inventory anywhere you'd want to live...

Plenty of inventory here in Manhattan at low prices, at least low compared to where they were. Lots of people are leaving the city so suburban prices are high. And depending on the outcome of the mayoral primary next week, there could be even more people leaving...

Signed,

Guy who bought a Manhattan apartment at the peak of the market

[elvis14]

So……I made it! The only issue is the market has gone CRAZY. We bid on two homes in holly springs. $35k over asking for both and we lost. The first one was listed at $475k and the second was $500k. I initially didn’t want to go over $400k but the market has really forced me to increase in order to get what we want/need. Looking at two more homes this weekend and will probably go $50k over ask for both. Unbelievable and a total waste of money.

One of my mother in laws is a real estate agent. Had a good conversation with her last week...the market is insane (and we haven't gotten the Apple Bump yet). She sold a house at $50k over asking price. Buyer waived appraisal and inspection and put down $50k in earnest money. She got a call from a client who she helped buy the 'perfect' house last year. She wants to sell the house and rent for a year or two because she will make over $100k.

LV, you consider renting for a year or two? Assuming of course you could find someplace to rent...

[Acymetric]

I assume the concern is that things could be even worse​ in a year or two.

[budwom]

Plenty of inventory here in Manhattan at low prices, at least low compared to where they were. Lots of people are leaving the city so suburban prices are high. And depending on the outcome of the mayoral primary next week, there could be even more people leaving...

Signed,

Guy who bought a Manhattan apartment at the peak of the market

ah, I had not thought of that...well, you can enjoy living there, hopefully, that's what matters most...

BusinessWeek current article says the supply shortage for most of the country will last for awhile, but vis a vis the fear of a bubble, there's not much concern...lending criteria are very strict by historical standards...and of course a lot of current sales are consummated with cash...

[Indoor66]

Hey, Elvis, how many mothers-in-law do you have? 😀

[LasVegas]

One of my mother in laws is a real estate agent. Had a good conversation with her last week...the market is insane (and we haven't gotten the Apple Bump yet). She sold a house at $50k over asking price. Buyer waived appraisal and inspection and put down $50k in earnest money. She got a call from a client who she helped buy the 'perfect' house last year. She wants to sell the house and rent for a year or two because she will make over $100k.

LV, you consider renting for a year or two? Assuming of course you could find someplace to rent...

We have thought of that but are worried about getting priced out of nicer areas or losing the sq ft we need for our family. We are ready to pull the trigger this weekend for 50k over with a 100k due diligence. That SHOULD be enough to get it done but we shall see!