New Home Sales

[Got Stripers]

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.

[Nebe]

Originally Posted by Got Stripers

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.
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[Rmarsh]

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

[Rmarsh]

Originally Posted by Nebe

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.
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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.

[piemma]

Originally Posted by Nebe

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.
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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.

[Nebe]

Originally Posted by piemma

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
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[piemma]

Originally Posted by Nebe

You don’t go anywhere. You stay put and enjoy your kingdom
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Yup! That's what Jeanne says.

[Rmarsh]

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.

[Guppy]

Grind the trash ! ?
Hell of an idea….
Good read Bob….

and slow down before you stop please…..