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OH, USA
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Posted: 5/3/2024 3:05:17 PM EDT
[#1]
Zillow is way off on a lot of houses. It’s up to the owner to update it if you do anything to the house. Only point in updating it on Zello is before selling…..
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Posted: 5/3/2024 3:09:22 PM EDT
[#2]
Quote HistoryOriginally Posted By Tactical_Jew: You boomers are the problem why these kids can’t buy a house these days. Stop bragging about what you have and what they dont have! Lol, wut? Is the supply of houses fixed, like transferable MG's? If people aren't building affordable single family homes, if there is demand for them, then there is only one entity to blame. And it isn't "boomers." |
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Posted: 5/3/2024 3:09:58 PM EDT
[#3]
Quote HistoryOriginally Posted By apmonte: A lot of us are doing quite well, but we're still much closer to becoming a have not than we are to being part of the elite "have's". We're in this squishy middle between the have nots and people that will never have to worry about inflation. I'd like to retire in a few years. My house is paid for, but I'm seeing a lot of costs go up. I just paid my house insurance. Last year it was $3500, and this year it's $4200. I had a new roof put on last year for $32,000 (covered by insurance). Waiting to see what my property taxes look like. Last year it was $9000. Where you live makes a huge difference in cost of living. My taxes last year were $1,000 (no school tax). With school tax they would have been $4,600. Also no state income tax on SS and pensions |
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TX, USA
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Posted: 5/3/2024 3:13:26 PM EDT
[#4]
Does anyone know why this is happening? It does seem a bit bizarre…almost engineered.
Do we have any realtors with some insight? |
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Posted: 5/3/2024 3:14:43 PM EDT
[#5]
Quote HistoryOriginally Posted By StanleySpidowski: Please show us how much your property taxes have gone up as well. Last year they were $1,050 (no school tax). With school tax they would have been $4,600. Previous year my taxes were $1,076. My taxes in Florida were $4,900/yr 4.5 years ago. |
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Posted: 5/3/2024 3:15:43 PM EDT
[#6]
Quote HistoryOriginally Posted By CoconutLaCroix: Spend a year saving $30k for a down payment. Home rises $80k in one month. Try harder kiddo  Get VA loan with a zero down payment  |
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OR, USA
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Posted: 5/3/2024 3:16:19 PM EDT
[#7]
Quote HistoryOriginally Posted By Scar811: Does anyone know why this is happening? It does seem a bit bizarre…almost engineered. Do we have any realtors with some insight? Why what is happening? |
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Posted: 5/3/2024 3:17:25 PM EDT
[#8]
As per my Realtor, Zillow value estimate does not mean anything, especially when selling a house.
My old house was valued at one price per Zillow, we sold it for $100k more, and couple of months later I checked Zillow again out of curiosity. Value estimate was now showing slightly higher than what we sold the house for. |
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TX, USA
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Posted: 5/3/2024 3:17:37 PM EDT
[#9]
My shitty little house went up over $30k in the 1.5 years. Not much compared to most in here but I paid less than $150k
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MO, USA
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Posted: 5/3/2024 3:17:44 PM EDT
[#10]
I have, I could no longer afford to purchase my home and I just bought it in 2019.
My starter home, LOL, no way a couple starting out could afford that home and I'm a millennial not a boomer who bought it at the peak of 2008. Prices now make 2008 look like nothing. |
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Posted: 5/3/2024 3:18:05 PM EDT
[#11]
Quote HistoryOriginally Posted By stoner63a: Yeah tell me about it. This house 1995 built 1475 square foot, $165,000 in 2018, I put $100,000 down. Today its worth $313,000. I couldn't afford to buy it today. The FL homeowners insurance is eventually going to run me out of my own house. WE left Florida four years ago because of the high cost of living. We are saving $12,000/yr in Georgia on Taxes, insurance, HOA fees etc. |
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USA
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Posted: 5/3/2024 3:18:18 PM EDT
[#12]
Ya, my house doubled since 2019. It's crazy.
The problem is that everywhere is crazy, so if you're looking to buy almost anywhere else, it's a zero sum game. |
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Posted: 5/3/2024 3:22:03 PM EDT
[#13]
bought two acres with water rights, put on a 1900 sq ft manufactured home, two car garage, new well and septic. started construction/buying in 2019 closed the first part of 2020 total price was 230k sold it last month for 389k
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Posted: 5/3/2024 3:23:55 PM EDT
[#14]
Quote HistoryOriginally Posted By maslin02: I’m 38 Quote HistoryOriginally Posted By maslin02: Originally Posted By Tactical_Jew: You boomers are the problem why these kids can’t buy a house these days. Stop bragging about what you have and what they dont have! I’m 38 I guess the younger ones don't like having to work their ass off like we did to buy a house? |
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OR, USA
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Posted: 5/3/2024 3:33:27 PM EDT
[#15]
Quote HistoryOriginally Posted By southerncross: I guess the younger ones don't like having to work their ass off like we did to buy a house? Guess not. Bought my first house at 28 with 3% down. On the third house now and doing just fine. Bootstraps is a bit of a joke but damn if it isn’t true. |
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Posted: 5/3/2024 3:35:54 PM EDT
[#16]
I clicked on mine and it said "Still a piece of shit. Get off your ass and finish remodeling."
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SGP
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Posted: 5/3/2024 3:36:41 PM EDT
[#17]
Quote HistoryOriginally Posted By kc3: Lol, wut? Is the supply of houses fixed, like transferable MG's? |
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Posted: 5/3/2024 3:42:48 PM EDT
[#18]
189 to almost 400.
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Posted: 5/3/2024 3:48:15 PM EDT
[#19]
Quote HistoryOriginally Posted By maslin02: Guess not. Bought my first house at 28 with 3% down. On the third house now and doing just fine. Bootstraps is a bit of a joke but damn if it isn’t true. Bought my first on "first time buyer" status with zero down. Second I put 33% down. |
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Posted: 5/3/2024 3:48:43 PM EDT
[#20]
Quote HistoryOriginally Posted By Rocky41: Where you live makes a huge difference in cost of living. My taxes last year were $1,000 (no school tax). With school tax they would have been $4,600. Also no state income tax on SS and pensions Quote HistoryOriginally Posted By Rocky41: Originally Posted By apmonte: A lot of us are doing quite well, but we're still much closer to becoming a have not than we are to being part of the elite "have's". We're in this squishy middle between the have nots and people that will never have to worry about inflation. I'd like to retire in a few years. My house is paid for, but I'm seeing a lot of costs go up. I just paid my house insurance. Last year it was $3500, and this year it's $4200. I had a new roof put on last year for $32,000 (covered by insurance). Waiting to see what my property taxes look like. Last year it was $9000. Where you live makes a huge difference in cost of living. My taxes last year were $1,000 (no school tax). With school tax they would have been $4,600. Also no state income tax on SS and pensions Location also is a major component of value. If my primary was located in any of the top 50 markets, it would likely be worth 3-5x as much. In some of those low tax jurisdictions my property tax burden would probably be similar, given the increase. In higher tax states, my taxes would likely be 3-5x as much. In either case, I'd be unlikely to live in a similar sized house - in a similar setting with similar quality and features. But where I live does have relatively high property taxes. Other costs of living are comparatively very reasonable. |
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AL, USA
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Posted: 5/3/2024 3:50:35 PM EDT
[#21]
Built a house 20 years ago for $140K. Zillow has it at $420K and does not even account for the buildout of the bonus room which is an entertainment room, office, and a full bathroom. If I had somewhere to move to, I'd let that sucker go, especially since it's paid for.
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Posted: 5/3/2024 3:50:57 PM EDT
[#22]
Quote HistoryOriginally Posted By jb1001: Nearly doubled in 10 years. Which based on the rule of 72 tells us that it increased 7.2% per year which is average for real estate |
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Posted: 5/3/2024 3:54:38 PM EDT
[#23]
Quote HistoryOriginally Posted By Alacrity: Location also is a major component of value. If my primary was located in any of the top 50 markets, it would likely be worth 3-5x as much. In some of those low tax jurisdictions my property tax burden would probably be similar, given the increase. In higher tax states, my taxes would likely be 3-5x as much. In either case, I'd be unlikely to live in a similar sized house - in a similar setting with similar quality and features. But where I live does have relatively high property taxes. Other costs of living are comparatively very reasonable.Quote HistoryOriginally Posted By Alacrity: Originally Posted By Rocky41: Originally Posted By apmonte: A lot of us are doing quite well, but we're still much closer to becoming a have not than we are to being part of the elite "have's". We're in this squishy middle between the have nots and people that will never have to worry about inflation. I'd like to retire in a few years. My house is paid for, but I'm seeing a lot of costs go up. I just paid my house insurance. Last year it was $3500, and this year it's $4200. I had a new roof put on last year for $32,000 (covered by insurance). Waiting to see what my property taxes look like. Last year it was $9000. Where you live makes a huge difference in cost of living. My taxes last year were $1,000 (no school tax). With school tax they would have been $4,600. Also no state income tax on SS and pensions Location also is a major component of value. If my primary was located in any of the top 50 markets, it would likely be worth 3-5x as much. In some of those low tax jurisdictions my property tax burden would probably be similar, given the increase. In higher tax states, my taxes would likely be 3-5x as much. In either case, I'd be unlikely to live in a similar sized house - in a similar setting with similar quality and features. But where I live does have relatively high property taxes. Other costs of living are comparatively very reasonable.I live in a very rural, low cost of living area. Farmland basically. But it's a little unusual in that we have fiber internet, strung by the electric co-op. There hasn't been anything available here at anything less than ridiculous prices since the work-from-home rush in '20. |
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Posted: 5/3/2024 4:00:48 PM EDT
[Last Edit: Alacrity]
[#24]
Quote HistoryOriginally Posted By Rocky41: Last year they were $1,050 (no school tax). With school tax they would have been $4,600. Previous year my taxes were $1,076. My taxes in Florida were $4,900/yr 4.5 years ago. Quote HistoryOriginally Posted By Rocky41: Originally Posted By StanleySpidowski: Please show us how much your property taxes have gone up as well. Last year they were $1,050 (no school tax). With school tax they would have been $4,600. Previous year my taxes were $1,076. My taxes in Florida were $4,900/yr 4.5 years ago. So you were 100% exempt (rather than 50%), due to the GA (county) income threshold? Or you are segregating the owed school tax for some reason? When was the last assesment? |
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Posted: 5/3/2024 4:00:51 PM EDT
[#25]
Quote HistoryOriginally Posted By Mblades: Why what is happening? It's all a boomer plot to fuck their grandchildren, lol. |
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Posted: 5/3/2024 4:06:47 PM EDT
[#26]
Originally Posted By Rocky41: 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. https://photos.smugmug.com/Misc/i-D3kLLKb/0/9N9zdFBdjWzsjWbMZGwWJccFRRkmc7Ks2sV9PHgr/X2/003-X2.jpg I don't think their estimate is realistic. It says mine is worth $818k. That's more than double what we paid for it and almost $150k more than the most expensive house in the neighborhood sold for a few years ago. |
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USA
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Posted: 5/3/2024 4:07:07 PM EDT
[#27]
Yeah, they arent real
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Posted: 5/3/2024 4:08:55 PM EDT
[#28]
Quote HistoryOriginally Posted By odiedodi: Uh yes, actually, land is finite. That's part of what spurs an increase in value. Depends where you are. Location, location, location. There are plenty of cheap homes available where no one wants to live. I moved 40 miles away from my fun, in town neighborhood when I started my family, because it was what I could afford. I would have loved to stay in Midtown Atlanta, but I would not have been able to afford it, while putting my kids in private schools. Is it my fault that, over the last 30 years, hundreds of thousands of people, most notably Korean and Indian immigrants, have followed me out here? |
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AR, USA
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Posted: 5/3/2024 4:12:05 PM EDT
[#29]
LOL of course not.
When was Zillow last inside your house to see how it actually compares? |
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Posted: 5/3/2024 4:12:23 PM EDT
[#30]
We are putting my mom's house on the market this week. She and dad bought it for $27,000 in 1968. We are listing it, according to local comps, for $850,000. We fully expect to review offers within a week of listing, according to recent area activity. It is insane.
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Posted: 5/3/2024 4:36:38 PM EDT
[#31]
Quote HistoryOriginally Posted By PR361: 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. Talk to your real estate agent in Florida. As it was explained to me by my real estate agent down here (ft Meyers) there's something called I think appropriation abprobation something like, that where the property taxes on your new home are comparable to the property taxes of the property you sold in Florida this is to encourage the sale of homesteaded houses so that the next guy pays the huge increase in property taxes. |
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Posted: 5/3/2024 4:42:32 PM EDT
[#32]
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WA, USA
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Posted: 5/3/2024 4:43:33 PM EDT
[Last Edit: JimmyAR]
[#33]
Quote HistoryOriginally Posted By Rocky41: Where you live makes a huge difference in cost of living. My taxes last year were $1,000 (no school tax). With school tax they would have been $4,600. Also no state income tax on SS and pensions Quote HistoryOriginally Posted By Rocky41: Originally Posted By apmonte: A lot of us are doing quite well, but we're still much closer to becoming a have not than we are to being part of the elite "have's". We're in this squishy middle between the have nots and people that will never have to worry about inflation. I'd like to retire in a few years. My house is paid for, but I'm seeing a lot of costs go up. I just paid my house insurance. Last year it was $3500, and this year it's $4200. I had a new roof put on last year for $32,000 (covered by insurance). Waiting to see what my property taxes look like. Last year it was $9000. Where you live makes a huge difference in cost of living. My taxes last year were $1,000 (no school tax). With school tax they would have been $4,600. Also no state income tax on SS and pensions My property tax is 5200 a year 3300 of that is for schools. 2nd highest amount is fire and EMS, which I am ok with. They just raised it this last year by 200.00 which put my house payment right at 2000 per month. |
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GA, USA
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Posted: 5/3/2024 4:45:49 PM EDT
[#34]
if you bought your house a while ago and the price has increased a bunch... you sell, you get raped on capital gains, then you find a house at the 'new' higher prices, your mortgage, taxes and insurance go up.
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Posted: 5/3/2024 4:56:32 PM EDT
[#35]
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 Don't necessarily trust the realtor. They want a quick sale. We sold both of our last houses for more 20% and 10% more than they recommended listing for. First house sold without even getting to market. Second sold in less than 24 hours. Both at our asking price. |
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Posted: 5/3/2024 4:58:09 PM EDT
[#36]
paid 65K shows 275K
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Posted: 5/3/2024 5:03:25 PM EDT
[#37]
If you think home prices are insane, you should look into having a house built. I've got GCs quoting composite decks at $250+ per sqft and heated spaces over $300. Over a million for a 2500 sqft piling home on land I already own. I haven't built a house in 6 years, but I think I'll be getting back into GCing next spring, at least for this one, hopefully our last... absolutely crazy.
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MS, USA
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Posted: 5/3/2024 5:04:29 PM EDT
[#38]
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. wonder what that will cost? |
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Posted: 5/3/2024 5:05:16 PM EDT
[#39]
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Posted: 5/3/2024 5:08:06 PM EDT
[#40]
Quote HistoryOriginally Posted By st0newall: if you bought your house a while ago and the price has increased a bunch... you sell, you get raped on capital gains, then you find a house at the 'new' higher prices, your mortgage, taxes and insurance go up. If significantly more than the $250k/$500k single/married exclusion, prolly makes sense to hire someone with knowledge of Sec 121, 1031 - there's strategies. But 0% rate extends to almost $100k AGI filing married, tho 15% most will pay on non-excluded is kinda rapish. <shrug> |
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Posted: 5/3/2024 5:12:46 PM EDT
[#41]
Quote HistoryOriginally Posted By BooJangles: The value of your house isn't going up, the value of your dollar is going down.  Attached File |
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Posted: 5/3/2024 5:15:33 PM EDT
[#42]
Yes, our house is supposedly worth 200K more than what we paid.
It's not. |
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CA, USA
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Posted: 5/3/2024 5:26:39 PM EDT
[#43]
A house in Newport Beach ca just sold at $7.4 mil
It last sold in 2020 for 3.5mil Listed and sold in one day. https://redf.in/kcKmQw |
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FL, USA
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Posted: 5/3/2024 5:30:08 PM EDT
[#44]
Quote HistoryOriginally Posted By Admiral_Crunch: That house in the Keys went from $300K to $2.4M. LOL. Last year I sold my Key West house. |
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WA, USA
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Posted: 5/3/2024 5:33:47 PM EDT
[Last Edit: Justintime2]
[#45]
Bought our condo in Maui April 2021, 3 years later it's worth double (1 million) according to Zillow and taxed at that rate by the county so it's spot on from what we can see.
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USA
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Posted: 5/3/2024 5:36:47 PM EDT
[#46]
Hell, my house was estimated by Zillow a few years ago for around $120K now it is at around $160K.
I'd be lucky to get $100K for it. The neighborhood is just too run down and white trashy |
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USA
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Posted: 5/3/2024 5:43:13 PM EDT
[Last Edit: Milehi22]
[#47]
Quote HistoryOriginally Posted By BooJangles: The value of your house isn't going up, the value of your dollar is going down. Not exactly. Location, location, location. One of my houses is up the street from the Santa Monica Pier with a lot of land for the area. Zillow says 2.8M. It's paid off and could sell in a day. House in the mountains was just apraised at 400K. Down from 450K last year. Bought ten years ago for 115K. Mortgage is only 704 a month. Unheard of in Socal. Property taxes though. The SM house I keep in my grandfathers name so the taxes are locked in. He's a 100 year old WW2 vet pushing 101 though. |
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FL, USA
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Posted: 5/3/2024 5:44:44 PM EDT
[#48]
Bidenflation
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SGP
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Posted: 5/3/2024 5:53:49 PM EDT
[Last Edit: odiedodi]
[#49]
Quote HistoryOriginally Posted By kc3: Depends where you are. Location, location, location. There are plenty of cheap homes available where no one wants to live. I moved 40 miles away from my fun, in town neighborhood when I started my family, because it was what I could afford. I would have loved to stay in Midtown Atlanta, but I would not have been able to afford it, while putting my kids in private schools. Is it my fault that, over the last 30 years, hundreds of thousands of people, most notably Korean and Indian immigrants, have followed me out here? |
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PA, USA
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Posted: 5/3/2024 6:00:20 PM EDT
[#50]
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. You are going to need a heck of a lot more than 800k for a house in the Keys... |
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