Spud, that refrigerator still running?
Posted from my iPhone/Mobile device

Thanks Bruce!

Jeff it died the week of Thanksgiving! Not a bad run for a few hundred bucks.

Since we started building five spec houses in the city......our sales team has been bombarded with offers....with some potential customers offering to outbid other buyers.
Now selling fast .......at prices that are hard to believe.
Push is on to get them done ASAP.

One of the District Chiefs on the Department with me listed his house on Wednesday for $429,000...had 22 offers by Friday. It sold for $495,900. Absolutely crazy! He had people calling the realtor saying he was a "Dream Crusher" for not accepting their offer of $30,000 over asking price.

Wow an extra $60 grand!!....unfreiking believable.
"Dream Crusher"...thats funny!....home buying has got to be very stressful right now......I've never seen such a buying frenzy....not sure whats driving it.

Low supply. People have been hunkered down and have not. Been traveling, moving, or wanting to change where they live during the pandemic. Pair that with low interest rates and a booming economy (thank you trump) and what you have is a recipe for a housing bubble.
Posted from my iPhone/Mobile device

We have stared thinking about a move. The numbers realtors are calling with are insane.

Prices here in Marblehead were crazy pre-pandemic... I can count on one hand the number of free standing houses I have seen listed for under $429k in the past year.... I searched MLS for 01945 and actually saw a couple price reductions, that is how high they were priced. No way I see my kids being able to buy here anytime soon....

Same down here. Little 1300sqft cape with a small lot down the road went for 350k last month.....
Posted from my iPhone/Mobile device

Bryan, same around us. Houses on our road with 3 acres, 1800 sq ft are in the high $400 to low $500K.

Won't even tell you what we are being offered with 15 1/2 acres, private pond, 4 garages and a 2500 sqft custom home but there are more zeros than I ever thought I'd see.

hard to sell with numbers like that, hard to sell when you have 15 acres also. Man that's a tough one for sure.

Just my opinion but this is the time to cash out your chips unless you want to pass your property down to your kids. Cash out now when the market is on fire and relocate down where it’s sunny and warm and where the redfish and snook roam and enjoy the rest of your life without a worry in the world.
Posted from my iPhone/Mobile device

CC is off the wall $$$$

Surprises me..... that these small five houses..... in the city... on tiny lots....would be in such high demand.....so much that there are ongoing bidding wars for them....pushing the price up to the low $400,000's.
I thought that most people want to move out of the city. Apparently there are people who have lived in this part of the city their whole life....maybe in a tenement they own and have extended family and friends in the neighborhood that they would rather stay close by. That and the limited supply of any new houses in that area. Smart guys running the company I work for..... always in the right place at the right time to capitalize on any given situation.

15 acres is my neighborhood.... I know you love your land, Paul, but that is an opportunity that I doubt I could pass up vs. the chance to not have a financial worry for you and Jean, ever again.

Ross, I agree but where do we go? We love the privacy, the freedom. Hell, I walk out my back door and shoot my pistols and shotguns and no one says a word.
We are literally 4 miles from the center of town with gas, grocery store, hardware, post officer.

I don't know. We talk about it all the time lately. It has become kind of consuming.

I hear you Eben. As I said to Ross, it has become all consuming. It's like all Jeanne and I talk about.

Guy I work with bought a great house there a few years ago. One hurricane and he moved to Charlotte.

If you're in a good place financially, you're happy and your children are rooted, don't stress over it. Live your life...you'd know if you wanted/needed to sell....

Literally the only non-impulsive decision you've made in the last 15 years. Buy a boat, sell a boat, buy in Warwick, sell in Warwick, buy an r/v sell an r/v.... :heybaby:

You gotta luv the guy! :-)

Calling him a character is the understatement of the internet.... :D

I beg your pardon! :fury:

RIRH

I tried to make a list of things ……….but there isn,t any paper long enough ><>>:walk::walk:

Yup.
Still we love the old bastard 😂😂
Posted from my iPhone/Mobile device

Thank you guys for the kind words. It makes me feel loved!

Just so you skeptics know. We are meeting with a realtor friend April 1.

We are swamped with work right now.....dozen or more houses to build that are all presold....at prices that are hard to believe.
I've got to train someone else to do kitchen and stairs.... so I can take some time off this summer.

Home prices today! Wow! How did we get here? I know I'm getting older and times have changed.....but low $600,000.....for a modest sized home.....never thought I'd see this. But I'm comparing it to when I built a small cape on a 1 1/2 acre lot I paid $6,700 for and $22,500 loan to build it with. Good God seems like ancient history.

In North Attleboro they are selling mobile homes (1400 sq. ft.) in a 55 and older park for $410,000!!!
They are ordering 12 at a time and can't keep them.

And I believe most trailer parks the people don't own the land at the end of the day so it equates to a pretty darn expensive camper and campsite
Posted from my iPhone/Mobile device

Our neighbor had a shoddy home built maybe eight years ago, leaked like no tomorrow and they would find one source and another would develop, the builder eventually said see you go sue me. Instead she sold it two weeks ago in three days for $680,000 cash. It’s a three bedroom I wouldn’t give you $400,000 for. I’ve hinted to Peg we should consider cashing out but I don’t see her considering it in the near future.

20 years from now that will be a million dollar house. People were saying this back in 2002 when there was a big boom in prices. Back then that house would have been around 300k.
Posted from my iPhone/Mobile device

So obviously my house is worth alot more than my original investment plus improvements...but replacement costs....needing another place to live..... would negate any gain. Also is the decent sized workshop I built on the property that is something I could never go without.
The market has gone up and down with housing booms and slowdowns....high and low interest rates and now rapidly rising prices.
One thing that has never changed is my ability to find an abundance of work throughout the years........never been laid off....although sometimes i could have used a break.
Anyway...I will never sell my house....no better place out there for us. We've been here since just before the blizzard of '78... lost power for ten days......but as young newlyweds we hardly noticed.



Hoping to pass the property on to my kids when I leave...
Picture is after a snowstorm a couple of years back

You are correct, $410K for the unit itself and that park is $595.00 a month for the land lease. They do cut your grass, mulch your beds, trim bushes/trees, remove snow from driveway and walk ways and provide trash removal .hey do not have a basement being a trailer and there are so many restrictions but I suppose they are fine for the people that buy them....not for me. I build a lot of these parks and we currently have a waiting list of over 12 months to get a new unit.

I dont think the cost of building a new home will level out anytime soon....Its been rising rapidly...especially in the last two years.
Same house we were selling then...went from the high $300 thousand range to now low $600,000 dollars. Our other developments with larger lots and houses are already close to or over a million.

Most likely material prices will continue to increase dramatically over the next few years......and it appears to be closely related to energy costs and policies.

At this point it doesnt seem possible that either one of my two sons, who both work hard at decent jobs will ever be able to afford even a modest new home.

We bought our land for $7,500 and build our house for $33k. All back in 73, 74. We were recently offered $1.3M. INSANE!!!

The problem is where the hell do you go if you sell? Very limited inventory and prices, as everyone has pointed out, are sky high.

You don’t go anywhere. You stay put and enjoy your kingdom :)
Posted from my iPhone/Mobile device

Yup! That's what Jeanne says.

Our new subdivision with 28 house lots will be selling out quickly!
These are smaller homes on smaller lots than we normally have done in the past.... and they are going up fast. I believe they are priced starting in the low $600,000's....crazy!
Before we started on it, a few months ago, my boss wanted reassurance that I wouldnt be retiring this year.

I have spent the last 49 years working in constuction and the wear and tear on my hands is severe, and its becoming more difficult using them , going to hang in to make it a nice round figure of 50 years next June. In the meantime I would like to tutor one of our younger guys on cabinet installation.

Sometimes when I observe the methods of work these kids use i just shake my head....when I know much better ways...but dont want to be overbearing or be the "know it all". If they ask thats different and I am always willing to share what I've learned.