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  1. #38861
    Join Date
    Nov 2007
    Location
    Vermont
    Quote Originally Posted by Mtn.Devil.91.92.01.10.15 View Post
    Our Zillow value is twice what we paid with no improvements to speak of.
    It's going on everywhere, but unless you subsequently plan on living in a refrigerator box, the same price inflation will hit you when you look for your next house, so it's all a mirage.

  2. #38862
    Join Date
    Feb 2007
    Location
    Atlanta, GA
    Quote Originally Posted by budwom View Post
    It's going on everywhere, but unless you subsequently plan on living in a refrigerator box, the same price inflation will hit you when you look for your next house, so it's all a mirage.
    Right! Sometimes people tell me, "Wow! You really bought in your neighborhood at an opportune moment," [which is true], "you should sell!" To which I always respond...and then where am I supposed to go? I wouldn't be able to afford the cost of re-entry, so to speak. I feel lucky to be established where I am, because I wouldn't be able to buy into my area (which I love) at current prices.

  3. #38863
    Join Date
    Feb 2018
    Location
    Durham, NC
    Quote Originally Posted by Mtn.Devil.91.92.01.10.15 View Post
    Our Zillow value is twice what we paid with no improvements to speak of.
    We did make improvements. We increase heated floor space by about 10% a bit less than 10 years ago. Our market value has doubled in that time. It might be a mirage, but I expect that we'll eventually retire into a much smaller house, so some of that will end up as available capital.

  4. #38864
    Join Date
    Nov 2007
    Location
    Vermont
    ^ yep, we've been in our house for 31 years, made The Year of The Covid into The Year of Home Improvement, got a lot of stuff done, feels good...but the longer we live here (and enjoy it) the more we're apt to be carried out of here feet first...I'm not sure I'm up for moving. Ever.

  5. #38865
    Join Date
    Feb 2007
    Location
    Atlanta, GA
    Quote Originally Posted by budwom View Post
    ^ yep, we've been in our house for 31 years, made The Year of The Covid into The Year of Home Improvement, got a lot of stuff done, feels good...but the longer we live here (and enjoy it) the more we're apt to be carried out of here feet first...I'm not sure I'm up for moving. Ever.
    We've been told ad nauseam that ours is a "starter home," which I can't help but find a little insulting at times. We couldn't afford anything larger (or for that matter, as I've said, the same size) in our current area, and sure as hell aren't moving to the 'burbs, so I'm hoping for a roughly 500 sq ft addition in about 5 years, once I get these infernal student loans paid off.

  6. #38866
    Join Date
    Nov 2007
    Location
    Vermont
    Quote Originally Posted by wilson View Post
    We've been told ad nauseam that ours is a "starter home," which I can't help but find a little insulting at times. We couldn't afford anything larger (or for that matter, as I've said, the same size) in our current area, and sure as hell aren't moving to the 'burbs, so I'm hoping for a roughly 500 sq ft addition in about 5 years, once I get these infernal student loans paid off.
    I can relate; we upgraded from a condo to a house (THE house) the year the student loans went away.

  7. #38867
    I certainly haven't seen the price appreciation y'all have. I'm not complaining, my house price has increased about 33% over the time I've lived there. Not great but definitely not money losing. I guess there are still too many ranches that can be converted to subdivisions in this area.

  8. #38868
    Quote Originally Posted by wilson View Post
    We've been told ad nauseam that ours is a "starter home," which I can't help but find a little insulting at times. We couldn't afford anything larger (or for that matter, as I've said, the same size) in our current area, and sure as hell aren't moving to the 'burbs, so I'm hoping for a roughly 500 sq ft addition in about 5 years, once I get these infernal student loans paid off.
    We bought our first home (1922 red farmhouse in the sticks) for 89K. We made a combined 19K that year because I started respiratory therapy school. 1200 square feet and best house I have ever or will ever live in. And we could fit multiples of it in this house.

  9. #38869
    Join Date
    Feb 2007
    Location
    Durham, NC
    Quote Originally Posted by wilson View Post
    Same down here in the Atlanta area...our appraised value is up around 60% since we bought 7 years ago.
    Yep, I could probably sell mine for a 55% increase (after 8.5 years), but I don't want to. I love my neighborhood. It just jacks my taxes up each year.

  10. #38870
    Quote Originally Posted by budwom View Post
    It's going on everywhere, but unless you subsequently plan on living in a refrigerator box, the same price inflation will hit you when you look for your next house, so it's all a mirage.
    Yes. There's the rub. One has to live somewhere.

  11. #38871
    My place is appraised about 2.5 times what I paid. I've done some improvements over the years and still have some I want to do. About 7 years ago, I paid it off. Another reason I don't want to move - I would have to take on a mortgage or cash in investments.

    But Wilson has me thinking about the number I will use next time they call. I was going with about $50k above the current county appraisal - maybe I'll double it and see what they say.

  12. #38872
    Join Date
    Jan 2010
    Location
    Outside Philly
    Quote Originally Posted by Mtn.Devil.91.92.01.10.15 View Post
    Our Zillow value is twice what we paid with no improvements to speak of.
    I don’t know boo about Zillow’s algorithms buyout house value has increased 15% in the last few months. I’ve taken that to mean the buying frenzy is real.

  13. #38873
    Join Date
    Jan 2010
    Location
    Outside Philly
    Quote Originally Posted by wilson View Post
    I always tell them $6 million cash, firm. Then I don't get any of those calls for about 6 months. Then I recommence telling them "$6 million cash, firm" for another week or so, and then I don't get any of those calls for about 6 months. Lather, rinse, repeat.
    Is that your walk away number? Why 6?

  14. #38874
    Join Date
    Feb 2018
    Location
    Durham, NC
    Quote Originally Posted by bundabergdevil View Post
    Is that your walk away number? Why 6?
    He thinks he's Lee Majors?

  15. #38875
    I am sitting on my front porch smoking a cigar and drinking an IPA, celebrating my promotion and I feel like a benevolent overlord.

  16. #38876
    Join Date
    Feb 2007
    Location
    Boston area, OK, Newton, right by Heartbreak Hill
    Quote Originally Posted by wilson View Post
    Apropos of this, we've reached the portion of the school year where I find myself increasingly inclined to ask things like, "Are you that f&*%ing stupid, or do you think I am that f&*%ing stupid?

    Nota bene: I of course do not say things like this to my students, but darned if middle schoolers don't perennially make one want to simply ask, "WHAT IS THE MATTER WITH YOU??!"
    The answer, of course, is "I'm in middle school!" I told all of my sons as they entered the 7th grade that they weren't supposed to enjoy 7th grade, they were just supposed to get through it.

  17. #38877
    Join Date
    Feb 2007
    Location
    Boston area, OK, Newton, right by Heartbreak Hill
    Quote Originally Posted by aimo View Post
    Here in the Triangle, we are constantly getting calls and mail asking to sell. Houses do not stay on the market long at all. My parents' first house, bought in 1962 for $16,000. 1330 sf, 1/3 acre lot. Recently sold for $216,000. Bostondevil can attest to how crazy this is.
    I don't remember which street you were on. I want to say Blanchard? I was Emerald Circle. We had a fancy split level that my parents picked up for $17,000 a year later in 1963.

  18. #38878
    Join Date
    Jan 2010
    Location
    Outside Philly
    Quote Originally Posted by ClemmonsDevil View Post
    I am sitting on my front porch smoking a cigar and drinking an IPA, celebrating my promotion and I feel like a benevolent overlord.
    Did your colleagues gnash their teeth and wail at the moon? Sorry, not colleagues, lessers?

  19. #38879
    Join Date
    Jan 2010
    Location
    Outside Philly
    Quote Originally Posted by Bostondevil View Post
    The answer, of course, is "I'm in middle school!" I told all of my sons as they entered the 7th grade that they weren't supposed to enjoy 7th grade, they were just supposed to get through it.
    Bingo. Nobody likes Middle Schoolers and nobody likes being a Middle Schooler. It is our penance for the fruits of procreation, recreational bump and grinding, and to have an ex say, "S/he really glew up..." some years later and with a hint of regret.

  20. #38880
    Quote Originally Posted by bundabergdevil View Post
    Did your colleagues gnash their teeth and wail at the moon? Sorry, not colleagues, lessers?
    There has been absolute silence. I don't take this as a good sign.

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