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Posted: 5/3/2024 10:33:56 AM EDT
Bought this new house in North Georgia 4 1/2 years ago for $450,000. 2,600 sq/ft 1.7 acre lot on the river. Prices were reasonable back then but after noticing recent sales and listing prices I thought I would look mine up and was shocked....................................... An older home down the street that sold 5 years ago for $275,000 just sold again for $675,000. We have reached a level of insanity I thought I would never see.
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Posted: 5/3/2024 10:36:53 AM EDT
[#1]
We went from 280k for around 12 acres and a 2k house that needed work to 575k.
If it ever hit 800k I’m selling and moving to the Keys. |
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Posted: 5/3/2024 10:37:07 AM EDT
[#2]
I sold 2.5 acres across the road for my son and his family to build a house. I ain't selling anything else. I have noticed my land taxes going up, unfortunately.
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Posted: 5/3/2024 10:40:05 AM EDT
[#3]
ours went from 159K 9 years ago to 389K. Truly insane
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AS, USA
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Posted: 5/3/2024 10:40:18 AM EDT
[Last Edit: CoconutLaCroix]
[#4]
Spend a year saving $30k for a down payment.
Home rises $80k in one month. Try harder kiddo  |
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Posted: 5/3/2024 10:40:27 AM EDT
[#5]
Bought one about ten years ago for 185k and sold last year for 321k. Not much put into it except some sweat, I don't feel horrible about it.
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Posted: 5/3/2024 10:42:06 AM EDT
[#6]
Quote HistoryOriginally Posted By The_Like_Button: We went from 280k for around 12 acres and a 2k house that needed work to 575k. If it ever hit 800k I’m selling and moving to the Keys. That house in the Keys went from $300K to $2.4M. |
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CT, USA
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Posted: 5/3/2024 10:42:23 AM EDT
[#7]
No but since I will be selling my home soon had an agent
do an evaluation on how much she would list it for . Not going to lie I was kind of floored at the price
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Posted: 5/3/2024 10:43:39 AM EDT
[#8]
Quote HistoryOriginally Posted By CoconutLaCroix: Spend a year saving $30k for a down payment. Home rises $80k in one month. Try harder kiddo It is a no win situation for young families just starting out. Rent prices are very high so it makes saving for a home hard. Then while they are saving home prices are going up faster than they can save. |
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Posted: 5/3/2024 10:44:04 AM EDT
[Last Edit: PR361]
[#9]
Quote HistoryOriginally Posted By The_Like_Button: We went from 280k for around 12 acres and a 2k house that needed work to 575k. If it ever hit 800k I’m selling and moving to the Keys. In what, a travel trailer?  Just looked, my 1920 Wood frame on .5 acre that we paid 120k for in 2002 is estimated for 352k… 
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CO, USA
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Posted: 5/3/2024 10:44:17 AM EDT
[#10]
I saw something saying that with house market increases, additional taxes, and interest rates the cost for buying your first home has doubled since FJB took office. I'd feel sorry for the younger generation, but I'm out of F's to give and statistically they voted for it.
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Posted: 5/3/2024 10:44:18 AM EDT
[#11]
All I have to do is stop eating avocado toast to afford a house in today's market.
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Posted: 5/3/2024 10:45:44 AM EDT
[#12]
Quote HistoryOriginally Posted By Admiral_Crunch: That house in the Keys went from $300K to $2.4M. Quote HistoryOriginally Posted By Admiral_Crunch: Originally Posted By The_Like_Button: We went from 280k for around 12 acres and a 2k house that needed work to 575k. If it ever hit 800k I’m selling and moving to the Keys. That house in the Keys went from $300K to $2.4M. No shit. I was thinking he *might* be able to rent someone else's condo for a few years.
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Posted: 5/3/2024 10:46:34 AM EDT
[#13]
I've been looking for a house... It's pretty fucked up. Some houses I've looked at Damn near doubled in value in the last 3yrs. And taxes... Whoa.. The Damn taxes is why I've withheld offers. My old house was in a reasonable district but that area is now to far away.. but southeastern school district in PA is retarded high.
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Posted: 5/3/2024 10:46:52 AM EDT
[#14]
I have one of the smaller homes in the hood and I am at $350,000. Homie behind me is valued at 1mil. Baller ass house and lot tho
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Posted: 5/3/2024 10:48:07 AM EDT
[#15]
Quote HistoryOriginally Posted By ranging-by-zipcode: No but since I will be selling my home soon had an agent do an evaluation on how much she would list it for . Not going to lie I was kind of floored at the price Hoping we hear the same thing when we list ours around this time next year. Bought in 2015 for $543,500. Zillow estimate is an RCH under 800k now. C'mon baby! |
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FL, USA
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Posted: 5/3/2024 10:48:49 AM EDT
[#16]
Owned my home for 4 years. I'm one of those that bought right before Covid and locked into a fixed 30 at 3% so I'm not going anywhere. My house has increased 50% in value and I've done absolutely nothing to it. It's all a scam lol
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Posted: 5/3/2024 10:49:54 AM EDT
[#17]
It's slowed down in my area.
My house has only increased $40k in the last 3 years. |
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TN, USA
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Posted: 5/3/2024 10:51:27 AM EDT
[#18]
Ive checked mine on several different sites and there is about a 70k spread in price difference.
WTF? |
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Posted: 5/3/2024 10:52:25 AM EDT
[#19]
Quote HistoryOriginally Posted By Admiral_Crunch: That house in the Keys went from $300K to $2.4M. Quote HistoryOriginally Posted By Admiral_Crunch: Originally Posted By The_Like_Button: We went from 280k for around 12 acres and a 2k house that needed work to 575k. If it ever hit 800k I’m selling and moving to the Keys. That house in the Keys went from $300K to $2.4M. Admiral beat me to it. |
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Posted: 5/3/2024 10:53:21 AM EDT
[#20]
Mine doesn't have a "zestimate" not enough data. I guess that's one advantage to being in the country but neighborhoods are slowly creeping my way. The guy who bought the 55 acres across the road is a developer but they won't allow neighborhoods to be built on dirt roads.
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FL, USA
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Posted: 5/3/2024 10:53:35 AM EDT
[#21]
Quote HistoryOriginally Posted By The_Like_Button: We went from 280k for around 12 acres and a 2k house that needed work to 575k. If it ever hit 800k I’m selling and moving to the Keys. 800k in the keys will be a trailer park soon |
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Posted: 5/3/2024 10:54:14 AM EDT
[#22]
I don't look at the value of my home because I don't intent to sell it.
It's paid for, and I'm homesteaded in for low taxes. My daughter will inherit it when I kick, and she can either live in it and rent out her current home, or vis versa. |
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Posted: 5/3/2024 10:54:52 AM EDT
[#23]
It doesn't work that way. If your house goes to 800k anything in the Keys will be a million plus.
You could live on a sailboat or in an RV in the Keys. That's what I plan to do. Quote HistoryOriginally Posted By The_Like_Button: We went from 280k for around 12 acres and a 2k house that needed work to 575k. If it ever hit 800k I’m selling and moving to the Keys. |
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MI, USA
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Posted: 5/3/2024 10:55:23 AM EDT
[#24]
Quote HistoryOriginally Posted By einnor1040: Ive checked mine on several different sites and there is about a 70k spread in price difference. WTF? One of my thoughts at the beginning of this thread was, "How accurate is Zillow in comparison to a real comp done by a realtor?" |
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Posted: 5/3/2024 10:55:34 AM EDT
[Last Edit: wakeboarder]
[#25]
Quote HistoryOriginally Posted By SparticleBrane: All I have to do is stop eating avocado toast to afford a house in today's market. Get a real job in the trades and move to a rural area |
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Posted: 5/3/2024 10:55:35 AM EDT
[Last Edit: Rocky41]
[#26]
Quote HistoryOriginally Posted By MilHouse-556: It's slowed down in my area. My house has only increased $40k in the last 3 years. We have a relative in Florida that is moving to Georgia this year and their home went down 12% in value the past 90 days. Not a good trend, Sarasota. |
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Posted: 5/3/2024 10:56:28 AM EDT
[#27]
Quote HistoryOriginally Posted By SparticleBrane: All I have to do is stop eating avocado toast to afford a house in today's market. I picked up a second job as a cashier at the five and dime to supplement my full time job as well. Looking forward to that white picket fence in a couple of years! |
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OR, USA
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Posted: 5/3/2024 10:57:12 AM EDT
[#28]
Quote HistoryOriginally Posted By MilHouse-556: It's slowed down in my area. My house has only increased $40k in the last 3 years. Must not be east of the mountains. If it was up to me we would have sold for 1.2 in early 2022 but the wife wasn’t as thrilled as me and the two boys were about buying some land and going all Swiss family Robinson. 
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Posted: 5/3/2024 10:57:48 AM EDT
[#29]
The dark side of this, in Florida, is property taxes are limited by statute to 3mills a year increase, which is great, I’m still paying taxes on a 130k house thats valued at 350.
The downside is that people like my brother, who is retired with some decent money, would like to sell his house and buy waterfront to live out his days, but his tax burden would triple, a sale ends the tax restrictions. Same for my 87yo mother, who has been in her 2000sf house for 40 years. She would like to downsize to a retirement community, but her tax burden would quadruple even with a smaller house. So we are all stuck where we are, unless we can afford a huge jump in property taxes. |
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Posted: 5/3/2024 10:57:53 AM EDT
[#30]
Bought ours for $121k from a non profit (church) in 2021
Now it's worth $250k The house is 64 years old Totally nuts |
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IRL
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Posted: 5/3/2024 10:59:13 AM EDT
[#31]
10% in a month is insane.
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Posted: 5/3/2024 10:59:19 AM EDT
[#32]
Quote HistoryOriginally Posted By towerofpower94: Hoping we hear the same thing when we list ours around this time next year. Bought in 2015 for $543,500. Zillow estimate is an RCH under 800k now. C'mon baby! You realize you need to live somewhere though right? If you are selling an other than primary I can understand being excited but between housing prices and interest rates it kinda sucks to move now no matter how much your homes value has increased. |
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CO, USA
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Posted: 5/3/2024 10:59:38 AM EDT
[#33]
Purchased 10/22, value is up $76k.
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NC, USA
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Posted: 5/3/2024 11:00:52 AM EDT
[#34]
We bought our current house in ‘13 and per Zillow it has doubled in value. Problem is everything where we would conceivably need to move has tripled.
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Posted: 5/3/2024 11:01:06 AM EDT
[#35]
Never in my wildest dreams did I think I would live in a million dollar home, but here we are.
220k, 22 years ago, and it came with a cool fence out back.  Attached File |
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Posted: 5/3/2024 11:01:15 AM EDT
[#36]
We bought ours for $285k and it's now worth about $800k. (At the Xiden peak it was $900k)
That increase has been over 20 years though...but still that's insane. |
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Posted: 5/3/2024 11:01:26 AM EDT
[#37]
Quote HistoryOriginally Posted By Racer_X: One of my thoughts at the beginning of this thread was, "How accurate is Zillow in comparison to a real comp done by a realtor?" They aren't that far off. Pretty easy to look at recent sales near you or revise your comps in zillow. |
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Posted: 5/3/2024 11:01:38 AM EDT
[#38]
I bought the shitpile next to mine for $45k in 2018, so I could make sure I liked my neighbors. The house is a wreck.
It's now worth, by Zillow, $145k. I thought that was a typo or estimating error, until my nephew looked at a house that was, IMO, way overpriced at $175k. It sold for list, and was in way worse shape than mine next door. I'm tempted to sell that bitch, live with neighbors I hate, and buy some land. |
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CO, USA
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Posted: 5/3/2024 11:01:46 AM EDT
[#39]
Quote HistoryOriginally Posted By Racer_X: One of my thoughts at the beginning of this thread was, "How accurate is Zillow in comparison to a real comp done by a realtor?" Zillow pulls comps to estimate home values, the same as a realtor. You can have zillow show you the comps of similar homes to what you are looking at. |
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AS, USA
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Posted: 5/3/2024 11:02:02 AM EDT
[Last Edit: CoconutLaCroix]
[#40]
Quote HistoryOriginally Posted By SparticleBrane: All I have to do is stop eating avocado toast to afford a house in today's market. Trust me, if I did it back when I bought my first home in 1982, you can do it now. Also have you considered moving 200 miles away from your office where property is a bit cheaper? |
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Posted: 5/3/2024 11:02:32 AM EDT
[#41]
During the big boom before the burst, it was worth slightly less (85k). Zillow is truly a guesstimate and they have no idea unless it is a recent sale.
Neighbor is selling theirs for 1.1. Zillow says it is worth 1.4. My house I recently sold Zillow says is worth 240. They paid a lot more than that. |
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Posted: 5/3/2024 11:03:55 AM EDT
[Last Edit: HDLS]
[#42]
Quote HistoryOriginally Posted By einnor1040: Ive checked mine on several different sites and there is about a 70k spread in price difference. WTF? they are estimates. Different places use different data points at different times to try to estimate that value. There's no way to know the actual value without having an appraisal or appraisals done and then it's still only worth what someone is willing to pay for it. Look at OP's, even Zillow has a range for his with a spread of $280K 
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Posted: 5/3/2024 11:04:01 AM EDT
[#43]
Bought for $220k in 2020 and it's showing $350k now.
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Posted: 5/3/2024 11:04:06 AM EDT
[#44]
Quote HistoryOriginally Posted By The_Like_Button: We went from 280k for around 12 acres and a 2k house that needed work to 575k. If it ever hit 800k I’m selling and moving to the Keys. Problem is that $800k won't buy 1000sf in the Keys. |
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Posted: 5/3/2024 11:04:19 AM EDT
[#45]
Quote HistoryOriginally Posted By PR361: In what, a travel trailer? Just looked, my 1920 Wood frame on .5 acre that we paid 120k for in 2002 is estimated for 352k… Quote HistoryOriginally Posted By PR361: Originally Posted By The_Like_Button: We went from 280k for around 12 acres and a 2k house that needed work to 575k. If it ever hit 800k I’m selling and moving to the Keys. In what, a travel trailer? Just looked, my 1920 Wood frame on .5 acre that we paid 120k for in 2002 is estimated for 352k… Thats like a 5% appreciation per year. Not exactly out of the norm. |
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Posted: 5/3/2024 11:04:25 AM EDT
[#46]
Quote HistoryOriginally Posted By CoconutLaCroix: Spend a year saving $30k for a down payment. Home rises $80k in one month. Try harder kiddo Indeed. The first sucker that offers me what Zillow says my house is worth can take it. I couldn't afford to buy my current place if it truly costs what Zillow claims it is worth (and I just bought the place in 2017). |
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WI, USA
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Posted: 5/3/2024 11:04:33 AM EDT
[#47]
My house is the cheapest in my neighborhood according to zillow
No idea how they calculate their ‘zestimate’ but doesn’t seem to factor in purchase price, size, taxes, etc. There’s many smaller, cheaper houses in my neighborhood that zillow says are worth more. Thought maybe because we are original owners and built 17years ago…but so’s our neighbor. Suppose the municipality won’t consider what zillow says to lower my assessment. |
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NY, USA
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Posted: 5/3/2024 11:05:05 AM EDT
[#48]
mine is showing undervalued based off of what I paid for it and put into it since it was built
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USA
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Posted: 5/3/2024 11:05:58 AM EDT
[#49]
Quote HistoryOriginally Posted By The_Like_Button: We went from 280k for around 12 acres and a 2k house that needed work to 575k. If it ever hit 800k I’m selling and moving to the Keys. Have you priced the Keys lately?
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Posted: 5/3/2024 11:06:14 AM EDT
[#50]
A lot of the buyers in our area are older and paying cash. Mostly retirees.
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