Geeesammy Posted December 18, 2016 Report Share Posted December 18, 2016 So for the last 2 years I've casually been looking for a house, haven't gotten in contact with a realtor or anything, but just "keeping tabs" on the market and seeing what to expect when I am ready to buy. Today I've spent a solid 2 hours looking on Zillow around Cbus and most (90%ish) of the houses I've clicked on have been followed by a "How in the hell?" response. I know it's a sellers market right now, but some of the prices I've seen just seem insanely high. Is this just a Columbus thing or is it the new normal for awhile? I'm scared to buy anything other than a crackhead deal because I'm sure as soon as I do buy the market will tank. Am I the only one who feels this way? Or is this just normal first time home buyer stuff? Quote Link to comment Share on other sites More sharing options...
Forrest Gump 9 Posted December 18, 2016 Report Share Posted December 18, 2016 Just wait another two years Quote Link to comment Share on other sites More sharing options...
Lauren Posted December 18, 2016 Report Share Posted December 18, 2016 We started looking last January. Gave up in May. Low supply of houses in Columbus isn't good. We will resume the search this march. I'm hoeing prices and supply are a bit more in line. Last year we walked through two homes we loved. Both had been on the market for 180 days. Both went into contract before we left the front door of each showing. Hooded are in contract hours after being listed. Quote Link to comment Share on other sites More sharing options...
TTQ B4U Posted December 18, 2016 Report Share Posted December 18, 2016 Yep. Wife and I just saw a comparable to ours and it sold for $50k more than others last year. I'm good with that considering the work we're having done. Rates are still awesome but with them going up, people will be moving fast. Quote Link to comment Share on other sites More sharing options...
Exodus Posted December 18, 2016 Report Share Posted December 18, 2016 Just wait another two years Agreed Sent from my SM-G935T using Tapatalk Quote Link to comment Share on other sites More sharing options...
STEVE-O Posted December 18, 2016 Report Share Posted December 18, 2016 Supply and demand, friends who are real estate agents are going into contracts less than 48 hours of hitting the market and have been for 6 months or more. Quote Link to comment Share on other sites More sharing options...
SPL_Josh Posted December 18, 2016 Report Share Posted December 18, 2016 My house sold last year insanely fast. Listed on Mls late Sunday, had offer from buyer Monday morning and more offers Wednesday of that week. Quote Link to comment Share on other sites More sharing options...
Not Brian Posted December 18, 2016 Report Share Posted December 18, 2016 Yeah buying a house right now is kinda dumb, unless you're selling one well over what you owe and can make up the potato price difference with equity off your sale as a down payment. Quote Link to comment Share on other sites More sharing options...
Geeesammy Posted December 18, 2016 Author Report Share Posted December 18, 2016 My hangup is renting is dumb too. Trying to find the middle ground of not pissing money away one way or another. Quote Link to comment Share on other sites More sharing options...
TTQ B4U Posted December 18, 2016 Report Share Posted December 18, 2016 My hangup is renting is dumb too. yes/no. In the end over the course of just 1-2 years the only real thing you're missing out on is the tax break. If you have a mortgage you're still "renting it" as most all the money you pay per month is interest anyway. Quote Link to comment Share on other sites More sharing options...
Not Brian Posted December 18, 2016 Report Share Posted December 18, 2016 Well if you buy now I think it's a safe bet values will only drop or stay about the same, so that's kinda like pissing away money too? The original owner of my house sold it to me for $60k less than what he bought it for 8 years prior. You don't want to be that guy. Also what Tim said. The bank fucks you by making like the first 10 years of payments go almost solely towards the interest on your house. For example, only about $150 of my payments goes towards the actual principle right now. Quote Link to comment Share on other sites More sharing options...
Geeesammy Posted December 18, 2016 Author Report Share Posted December 18, 2016 yes/no. In the end over the course of just 1-2 years the only real thing you're missing out on is the tax break. If you have a mortgage you're still "renting it" as most all the money you pay per month is interest anyway. Save Very true. Renting for me now makes the most sense. Too many variables with school and switching careers after that, or even before. The next year to three is a big question mark and the sale of a home only complicates issues further. Quote Link to comment Share on other sites More sharing options...
oh8sti Posted December 18, 2016 Report Share Posted December 18, 2016 I moved to Nashville a few months ago. The markets are almost the same in regards to how fast things sell. I had to offer full cash, just shy of asking price, which they took immediately. I didn't want to go into a bidding war with 20 other jackasses. interestingly enough, I just did a cash out refi and the house appraised for $60k more than what I paid 2 months ago. If I didn't have the option to do it in cash, I wouldn't do it at all right now. Prices are silly. This market is not sustainable, wait until the bottom falls out in 2 years and jump on whatever house you want. Quote Link to comment Share on other sites More sharing options...
Tractor Posted December 18, 2016 Report Share Posted December 18, 2016 Here in Fort Mill, SC is the same thing. Median housing price is 365K and they go into contract within 4-8hrs of hitting the market unless theres something wrong. Then they end up selling for 10-15K more than asking due to bidding. I'm expecting real estate to correct if not crash again in a few years. People haven't learned to live within their means yet. The wife and I are going the opposite direction and looking at a house as a place to live, not a McMansion and are using money for much more interesting ways. Quote Link to comment Share on other sites More sharing options...
BigOxley Posted December 18, 2016 Report Share Posted December 18, 2016 Talked to a realtor last night. She says she doesn't even have to list houses a lot of times right now. People/buyers just come to her looking for places. She sold a 1400sq/ft here in Grandview for $402k, it was listed at $384k Sent from my iPhone using Tapatalk Quote Link to comment Share on other sites More sharing options...
TTQ B4U Posted December 18, 2016 Report Share Posted December 18, 2016 looking at a house as a place to live, not a McMansion and are using money for much more interesting ways. ^^ this. any size house can be made into a spectacular home. key is to have your money work for you. Quote Link to comment Share on other sites More sharing options...
iwashmycar Posted December 18, 2016 Report Share Posted December 18, 2016 Probably why we are decently busy building new homes. Why pay a premium for a used one when you can spend the same $/SF (as when the market was slower) and build new. Rates have been very favorable so I think it makes the decision easy for a lot of people who want to live in a new neighborhood....maybe.... we have seen more teardowns lately in Upper Arlington, ect where they throw a new build on the lot. Quote Link to comment Share on other sites More sharing options...
PRD2BDF Posted December 19, 2016 Report Share Posted December 19, 2016 Lancaster rocks. I bought my house for 81k and it's a very nice home in a perfect location. Two streets away in everyour direction from busy streets and the "buffer" streets are very low traffic. Quote Link to comment Share on other sites More sharing options...
Not Brian Posted December 19, 2016 Report Share Posted December 19, 2016 I just want 1+ acres with garage space galore and a fenced in yard for puppies under $250k around the North/Northeast side of Columbus. My least favorite thing in the world is having to open my car's door 30% and squeaking out so I don't bang the other car. I can't find anything worth buying. Quote Link to comment Share on other sites More sharing options...
Rocky31186 Posted December 19, 2016 Report Share Posted December 19, 2016 Went into contract my home last year in 3 days... when we bought our new house it was on the market for 1 day before we went into contract. My friend works for HER and he is begging for homes to sell.. Quote Link to comment Share on other sites More sharing options...
cstmg8 Posted December 19, 2016 Report Share Posted December 19, 2016 I just want 1+ acres with garage space galore and a fenced in yard for puppies under $250k around the North/Northeast side of Columbus. My least favorite thing in the world is having to open my car's door 30% and squeaking out so I don't bang the other car. I can't find anything worth buying. We're in a similar boat right now. Looking at anything 3+ bdrm, over an acre with decent garage or building, but on the east/ northeast. We're way ahead on our current house (like +75% over purchase price, according to comps), but that only matters if you can find something worth moving to. Sent from my XT1585 using Tapatalk Quote Link to comment Share on other sites More sharing options...
Lauren Posted December 19, 2016 Report Share Posted December 19, 2016 I moved to Nashville a few months ago. The markets are almost the same in regards to how fast things sell. I had to offer full cash, just shy of asking price, which they took immediately. I didn't want to go into a bidding war with 20 other jackasses. interestingly enough, I just did a cash out refi and the house appraised for $60k more than what I paid 2 months ago. If I didn't have the option to do it in cash, I wouldn't do it at all right now. Prices are silly. This market is not sustainable, wait until the bottom falls out in 2 years and jump on whatever house you want. Where in Nashville did ou end up? We are spending a good amount of time in the area now. We strongly considered making it a permanent move Quote Link to comment Share on other sites More sharing options...
oh8sti Posted December 19, 2016 Report Share Posted December 19, 2016 Where in Nashville did ou end up? We are spending a good amount of time in the area now. We strongly considered making it a permanent move We bought a house in Brentwood. I work from home and didn't want to be in the city. Plus I like being able to walk around in a neighborhood and not have to worry about getting stabbed to death for my iPhone. Quote Link to comment Share on other sites More sharing options...
2 Sweet Posted December 19, 2016 Report Share Posted December 19, 2016 If I were in the market, I would buy something like this... http://www.realtor.com/realestateandhomes-detail/3610-Old-Columbus-Rd_London_OH_43140_M43435-15035 Quote Link to comment Share on other sites More sharing options...
jeffro Posted December 19, 2016 Report Share Posted December 19, 2016 Get in touch with a realtor and have them sign you up for MLS notifications. Zillow and the like are trash for actually finding a home. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.