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Posted: 5/3/2024 6:07:02 PM EDT
[#1]
Quote HistoryOriginally Posted By CoconutLaCroix: 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 6:09:45 PM EDT
[#2]
Quote HistoryOriginally Posted By Two-dogs: 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. The dollar has definitely devalued a bunch... |
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Posted: 5/3/2024 6:10:56 PM EDT
[#3]
Quote HistoryOriginally Posted By perfectsilence: Thats like a 5% appreciation per year. Not exactly out of the norm. Quote HistoryOriginally Posted By perfectsilence: Originally 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. More like a 5% dollar devaluation per year... |
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MD, USA
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Posted: 5/3/2024 6:12:22 PM EDT
[#4]
417K Paid 132K
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Posted: 5/3/2024 6:18:42 PM EDT
[#5]
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AL, USA
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Posted: 5/3/2024 6:18:59 PM EDT
[#6]
About halfway thru our 15 yr mortgage. Zillow says it was sold for x price may of last year. Literally nothing happened last year. Is that typical Zillow retardation or should I be looking into something?
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CT, USA
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Posted: 5/3/2024 6:21:18 PM EDT
[#7]
Quote HistoryOriginally Posted By ORjeepguy: 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. I'm sure most do I don't think anyone is going to buy mine who lives in CT now It's going to be a family where the husband works in NYC and wants to live near enough to his job but wants out of his condo in the city That's who mostly buys now in my area . I think once it lists it's going to sell fast because I spent a lot of time finding a private home on 5.5 acres . That's almost unheard of now in this area of CT . It's going to be over a million of that I'm sure |
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Posted: 5/3/2024 6:23:45 PM EDT
[#8]
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 Yeah, I just love the property tax hikes that just keep coming. |
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Posted: 5/3/2024 6:52:39 PM EDT
[#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. You aren’t moving anywhere! |
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Posted: 5/3/2024 6:55:14 PM EDT
[Last Edit: bigtex84]
[#10]
Ooof its almost up 100%.
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Posted: 5/3/2024 7:00:07 PM EDT
[#11]
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CA, USA
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Posted: 5/3/2024 7:06:19 PM EDT
[#12]
Bought my house for $650,000 in 2016. Put an additional ~$80,000 into an addition. Redfin has the market value between $1.2-1.4m, I would guess closer to the $1.2
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AK, USA
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Posted: 5/3/2024 7:58:24 PM EDT
[#13]
I looked last time we had a thread on this.
About 400K was the valued amount. I paid 180K for it in 2015. |
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AZ, USA
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Posted: 5/3/2024 8:12:23 PM EDT
[#14]
Paid 86k in 1988. It says 650k now
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VT, USA
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Posted: 5/3/2024 8:20:13 PM EDT
[#15]
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. well put, we are in the same boat. |
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Posted: 5/3/2024 8:22:20 PM EDT
[#16]
My house does not even show how many bedrooms or baths it has on Zillow. It is far from accurate in rural areas.
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Posted: 5/3/2024 8:34:14 PM EDT
[#17]
I bought the family home in the early 90's, valued at 60k. Now it's close to 300k (Zillow) and one of the more expensive in the neighborhood. The house across the street, a single story starter home sold for 279k, I think it was. Less than 1k square feet. Mine is 1400 square feet, not including attic or basement.
Empty house down the street, still needs a lot of fixing up, the owners want 300k. They haven't worked on it in years, and live outside of town. When my wife and I retire, we'd like to move closer to the kids, who are currently "up north", and values are lower. |
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Posted: 5/3/2024 8:40:56 PM EDT
[#18]
Quote HistoryOriginally Posted By RIP-Yataski: More like a 5% dollar devaluation per year... Quote HistoryOriginally Posted By RIP-Yataski: Originally Posted By perfectsilence: Originally 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. More like a 5% dollar devaluation per year... Six one one, 5.7 of another |
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MN, USA
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Posted: 5/3/2024 9:01:35 PM EDT
[#19]
Yeah, we lucked out big time right at the start of covid 4 years ago. Our house had been on the market for like 9 months, had a couple price drops, and we still got them to drop 30 grand down to $495k, which we locked in at 2.875%.
Zestimate is now $675k, and it would probably sell tomorrow if I listed it, due to how things have been moving around us lately. It’s insanity. 36% bump in that short amount of time. We don’t plan on moving for 20+ years minimum until our kids are out on their own, so I fully welcome a bit of a crash to lower our property taxes for the time being. But that’s wishful thinking. |
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Posted: 5/3/2024 9:03:13 PM EDT
[#20]
423 > 755
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CO, USA
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Posted: 5/3/2024 9:04:40 PM EDT
[#21]
Meh, It's all relative. Purchased ours in 1998 for 140K. Zillow now says its worth 550K. Comps in the neighborhood are about that or more. If we sold it, to get something similar we would be spending about the same or more. No plans to sell until we can't get up and down the stairs any longer. We have fixed it up to meet our taste and the location can't be beat, in our opinion. It is paid off and that takes a ton of pressure off any monthly budget. We feel pretty fortunate to have the house we have where it is located. Oh, did I say it's paid for?
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CO, USA
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Posted: 5/3/2024 9:05:23 PM EDT
[#22]
Mine is up 450% since I bought it 15 years ago. I'll be selling soon to get out of crappy Colorado for a red state. |
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Posted: 5/3/2024 9:09:41 PM EDT
[#23]
We've been in our house less than 3 years and its Zillow estimate has gone up almost $90K.
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NC, USA
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Posted: 5/3/2024 9:09:49 PM EDT
[#24]
Quote HistoryOriginally Posted By SparticleBrane: All I have to do is stop eating avocado toast to afford a house in today's market. I used to eat a lot of canned corn with a bologna sandwich for lunch and many times dinner. Sometimes with cheese. Saving sucks I know, but it’s worth it if you’re willing to make the sacrifice. My most recent acquisition went from $385K to $450K in 2 years according to Zillow. The insurance man says that’s way low and it’s insured for almost $700K. I could probably sell it for $650 or better in this market. |
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Posted: 5/3/2024 9:24:35 PM EDT
[#25]
 Biden bucks! |
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CO, USA
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Posted: 5/3/2024 9:26:02 PM EDT
[#26]
Unless selling, the current valuation isn't all that important (except for property tax
 )
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MT, USA
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Posted: 5/3/2024 10:12:06 PM EDT
[#27]
Quote HistoryOriginally Posted By wakeboarder: Get a real job in the trades and move to a rural area I have a million + home and I’m a small remodel contractor. I live in rural western MT. 
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Posted: 5/3/2024 10:18:26 PM EDT
[#28]
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?" I.live in a subdivision of ~50 houses built by the same developer in the same year Zillow is generally within 10% of the sale price. In other locations with much more variables it's WAY off. |
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Posted: 5/3/2024 10:20:44 PM EDT
[#29]
Quote HistoryEverything a nearby home sells it adjusts the value of the surrounding properties. |
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FL, USA
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Posted: 5/3/2024 10:31:33 PM EDT
[#30]
Wife and I sold our townhome we bought in 2012 for ($70k) for 270k in December. Was able to afford to build a house I never would've dreamed of being able to own.
not happy with the interest rate (7%) but it'll all come down soon enough and we will refinance. |
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Posted: 5/3/2024 10:35:38 PM EDT
[#31]
Mine goes up and down. Still up 40k over last year
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Posted: 5/3/2024 10:38:08 PM EDT
[#32]
Quote HistoryOriginally Posted By Wammel: 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. That younger generation's taxes are paying for your bennies, boomer. |
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Posted: 5/3/2024 10:41:40 PM EDT
[#33]
Quote HistoryOriginally Posted By odiedodi: Well right, but that was my point. There is, in a sense, a fixed amount of housing stock in any particular market area. If there's developable land left, then the theoretical limit hasn't been hit yet (Of course, in practice it still could be, if there are other factors preventing development), but in places without developable land left, then it's fixed, assuming restrictions exist on redevelopment to higher density. Lol, no. Young people just don't want to live in the shitty neighborhoods their parents left 30-40 years ago. |
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MN, USA
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Posted: 5/3/2024 10:49:04 PM EDT
[#34]
Zillow is run by crackheads.
Our place is listed with 4 bathrooms and 5 bedrooms with 3100sq ft. Our cabin has an "zillow price" of $680k Lets just say, i am fucking glad the county has actual estimate and not bullshit web apps calculating my property taxes. |
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WA, USA
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Posted: 5/3/2024 11:07:23 PM EDT
[Last Edit: 161Infantry]
[#35]
Our rental we bought in 1999, is now worth 150k more than we paid for it..25yrs....the house we live in now, bought in 2022, is oddly worth 175k more now.
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Posted: 5/3/2024 11:20:34 PM EDT
[#36]
Quote HistoryOriginally Posted By norseman1: Zillow is run by crackheads. Our place is listed with 4 bathrooms and 5 bedrooms with 3100sq ft. Our cabin has an "zillow price" of $680k Lets just say, i am fucking glad the county has actual estimate and not bullshit web apps calculating my property taxes. Don’t worry, they will catch up. |
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Posted: 5/4/2024 5:15:19 AM EDT
[Last Edit: Alacrity]
[#37]
For people who wonder about Zillows valuation, it's complicated
 Attached File Attached File Attached FileThese are all recent sales near, tho inland. Florida is hot and pricing has been somewhat volatile. Big part of realized sale price is updating, appointments and appropriate rehab/look. Stuff that's hip and well done goes better. Older, dated without updates languishes. This is in the shadow of a recent hurricane but I don't believe any suffered major damage and was repaired and in good condition at sale. At this level there is always divergence. My point is, sometime Zillow is close, sometimes well off either way. I argue about valuations pretty regularly, so I have somewhat a decent background and feel for values and I'm often stunned. Especially because I've been in this market for a bit (30 years) so seen the history. But also because I'm not actively involved in selling residential RE in the market. Sometimes even the very good local pros miss it, and get saved by a bidding war. Or disappoint their client. All it takes is the right buyer - or poor owner decisions - to shift sales price large. You'll know the value of your home when you sell it.  Attached FileFor peeps who claim the significant pricing run up Zillow often indicates isn't real - this is an actual transaction based index. Heading toward tripling in the last 10 years. SW FL seems hotter. Very local sales have outpaced this. But nothing is forever. No interest in cashing out, but there's days I'm sweating my balls off or sitting in season traffic thinking, fuck I loved Old Florida. Then I go home and realize almost everywhere sucks, so it's me  |
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Posted: 5/4/2024 5:37:32 AM EDT
[#38]
I bought my house in 05 for 400,000. Zillow has it at 877,000. I know the market around here, I could sell today for 1 mil. Prob more.
my kids are still in HS, so I'm not going anywhere until they graduate. Then I'm the fuck outta this state. |
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IA, USA
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Posted: 5/4/2024 5:47:06 AM EDT
[#39]
The slow, grinding death of the currency.
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Posted: 5/4/2024 6:28:07 AM EDT
[Last Edit: Sputnik556]
[#40]
According to them it’s worth more than three times what I paid for it 12 years ago.
I wouldn’t be able to afford it at that price. |
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Posted: 5/4/2024 6:34:47 AM EDT
[#41]
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. 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. Originally Posted By Admiral_Crunch: That house in the Keys went from $300K to $2.4M. LOL - no kidding. He could always live on a boat. |
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Posted: 5/4/2024 6:36:09 AM EDT
[#42]
Quote HistoryOriginally Posted By marlinfan: The slow, grinding death of the currency. How'd the currency do '08-'12? |
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Posted: 5/4/2024 6:36:48 AM EDT
[#43]
2014 purchase price $192,000
Current Zestimate $452,000 
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USA
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Posted: 5/4/2024 6:54:38 AM EDT
[#44]
Mine was 179,000 in 1996
Now 850,000 But I still think 179,000 in stock market would have made more money |
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Posted: 5/4/2024 7:00:23 AM EDT
[#45]
Doubled in 7 years.
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Posted: 5/4/2024 7:15:31 AM EDT
[#46]
Built it for 326k about 20 yrs ago. 827k estimate now. Not surprised. My kid is looking for a house at the moment, everything is ridiculous.
Thanks Trump and Biden- printing all that free money really fucking “helped”. Ugh… |
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Posted: 5/4/2024 7:30:17 AM EDT
[#47]
For some reason Pittsburgh has never had a real estate boom of any consequence.
While mine has certainly gone up over the years, it's never gotten insane. |
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Posted: 5/4/2024 7:39:18 AM EDT
[#48]
We bought in the dip. I honestly think the valuation is way under. I am seeing comps sell for 50% more due to our market.
 
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Posted: 5/4/2024 7:56:52 AM EDT
[#49]
North GA real estate went nuts. We bought a mountain house as a 2nd home in August 2018 for $215k. It Zillowed then for $185k. I just couldn’t find anything comparable for less than $260k so I bit the bullet and bought it
It Zillows for $460k now. 
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Posted: 5/4/2024 8:05:38 AM EDT
[#50]
Quote HistoryOriginally Posted By wakeboarder: Get a real job in the trades and move to a rural area Quote HistoryOriginally Posted By wakeboarder: Originally 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  Attached File |
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