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What a great time to be a realtor

luberhill

By luberhill,
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luberhill Mentor

luberhill

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9 minutes ago, Trad bow said:

It’s crazy times my wife and just sold and bought in August. We put in offers on a handful of houses and everyone was listed for 5-7 days and then the seller went over the offers and excepted one. We offered 65k over list on one only to have an offer 40k over ours! In the end we sold ours for way over the value cash and bought our dream house (for well over list). We listed for five days and had six offers to choose from. 

It’s just crazy , I can’t see the prices going down either .

Probably level off after awhile but I doubt they will drop..

I think 400k is the new normal 

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luberhill Mentor

luberhill

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1 hour ago, Trad bow said:

I agree, I looked in the town we sold in western NY and town we bought in the finger lakes and neither town has a single house listed now !

My realtor said if you are not willing to offer like 45k over asking you may as well forget it !

Put a small ranch up , in good shape, decent lot ,, 350 to over 400

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luberhill Mentor

luberhill

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26 minutes ago, Bolt action said:

It's unfortunate because it puts home ownership out of reach for most. With the average median household income at +/- $50k in upstate ny (not including NY, Westchester, Nassau, Putnam, Suffolk counties), most folks can't afford a $400k house. 

Agree, I’m amazed at how fast 400, 500, 600k houses are selling 

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ncountry Mentor

ncountry

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3 minutes ago, suburbanfarmer said:

Supply n Demand.. I forsee no change in 2022

I concur. Building costs have gone way up but not enough to reflect these prices.

I just priced out a 36×28  attached 2 story garage/mudroom and living space above. 

Over $80,000, just materials, with inexpensive finishes. About double what it was 5-10 years ago. 

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mlammerhirt Mentor

mlammerhirt

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I concur. Building costs have gone way up but not enough to reflect these prices.
I just priced out a 36×28  attached 2 story garage/mudroom and living space above. 
Over $80,000, just materials, with inexpensive finishes. About double what it was 5-10 years ago. 
Are you the contractor?
Whats the labor cost on a jib like that?

Sent from my SM-A716V using Tapatalk

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BizCT Grand Master

BizCT

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My brother bought a house in dutchess last year. The first 3 houses he put offers on be lost to NYC buyers cash sight unseen. They didn’t even see the house in person and also waived all inspection/appraisal contingencies.

When I put my house in Westchester on market in the summer. We had 40+ showings and 15 offers over asking in 3 days. Ultimately I’m going with a cash buyer who waived inspection / appraisal contingencies even though I left $20K higher offers on the table.


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luberhill Mentor

luberhill

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35 minutes ago, suburbanfarmer said:

I know in 2017 a 30x40x14 pole barn with 5 inch concrete slab was put in for a grand total of $26k. This was everything ; material & labor.

Now a 10x12 shed costs nearly $11k :(

I hear ya , I put in a 28x40 x 16ft pole barn , insulated overhead doors , floor , 100 amp service for 25k

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ncountry Mentor

ncountry

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Just now, Lawdwaz said:

For 1008 sqft living space, with garage below and all in (ALL?!?!) for $140,000 is approx. $140/sqft  (doesn’t include the lot of course)

You're too cheap….lol

 

I know..lol.. it is a friend though. And he will be working along side for most of it with us.

Makes a nice spring  project. 

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2012_taco Rising Star

2012_taco

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100% agree this housing market is insane! My daughter is closing today on a house in Tonawanda that we were fortunate to get in on before it went on the market. (through a friend, and I can't thank them enough!!)  She has been looking for a house since August. We bid on at least 6 houses and got outbid every time by 30-50k. She is a single school teacher with student loans so her price range was low. The available houses in her price range were very limited and they sold fast. Now the Daddy do list has begun!! I'll be busy probable right up to spring turkey season! 

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Lawdwaz Grand Master

Lawdwaz

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15 minutes ago, 2012_taco said:

100% agree this housing market is insane! My daughter is closing today on a house in Tonawanda that we were fortunate to get in on before it went on the market. (through a friend, and I can't thank them enough!!)  She has been looking for a house since August. We bid on at least 6 houses and got outbid every time by 30-50k. She is a single school teacher with student loans so her price range was low. The available houses in her price range were very limited and they sold fast. Now the Daddy do list has begun!! I'll be busy probable right up to spring turkey season! 

Congratulations to your daughter, glad to hear it’s happening!

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