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Housing market

Gunnerclone said:
What cities?
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Des Moines, Kansas City, Charlotte to name a few I’ve been watching. I’ve also seen a lot of more fairly priced homes in DSM metro lately. Mind you I am getting notifications 10-15 times a day for homes so I can gauge the market. Looking to move onto the next one once the mortgage rates start dropping back into the high 4’s. Hopefully in a couple of years. There is a scenario where we go for the perfect house while the rates are higher since we can afford it, but it has to be damn near perfect if I’m eating 2% more for a loan. Refinancing would be on the table not long after.
 
NDMARTIN2015 said:
Des Moines, Kansas City, Charlotte to name a few I’ve been watching. I’ve also seen a lot of more fairly priced homes in DSM metro lately. Mind you I am getting notifications 10-15 times a day for homes so I can gauge the market. Looking to move onto the next one once the mortgage rates start dropping back into the high 4’s. Hopefully in a couple of years. There is a scenario where we go for the perfect house while the rates are higher since we can afford it, but it has to be damn near perfect if I’m eating 2% more for a loan. Refinancing would be on the table not long after.
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Not sure what you’re looking at I just see houses in DSM metro desirable areas going for like 10-50k over asking.
 
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We purchased our home for <$300k in 2015. They're dropping smaller homes in a development right behind us priced starting at $400k. A comparable home to ours is almost double what we paid. This is awesome and terrifying.
 
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Saul_T said:
We purchased our home for <$300k in 2015. They're dropping smaller homes in a development right behind us priced starting at $400k. A comparable home to ours is almost double what we paid. This is awesome and terrifying.
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We bought our place in fall 2020 for $116/SF. It's turn-of-the-century Victorian that needs some love. Solid house overall, just needs some love (which is why I picked it in the first place). The house down the street from us is basically our house with all the updates/fixes I'm planning. It's a smaller house with a smaller lot, but a very similar Victorian style home. They sold for $170/SF.

I agree with your "awesome and terrifying" sentiment.
 
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NDMARTIN2015 said:
10k over asking isn’t anything crazy that’s been happening for years, before Covid. At the height of the surge people were offering 100k over cash.
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That’s crazy in Des Moines. We’ve been looking at places in Des Moines for almost two years now. I follow it closely. Show me more than 3 single family homes in Des Moines that sold for 10k over asking from 2015-2018.
 
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Can't imagine things are easy with having to combat investors when buying. I wonder how many are linked to Blackrock?

Part of me wishes I would have kept my house that I sold 6 years ago. It was a starter home mostly fixed up, but is worth about $62/sq. foot more than what I paid for it. Crazy, because I don't know if I would pay todays amount for it. Market was pretty good back then, but hindsight is always 20/20. I'd only have 5 years left on the loan if rented out. I instead bought a truck and camera equipment for a business. I did pretty decent on it though.
 
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simply1 said:
One thing I’ve found is good school districts cost almost everywhere
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I was looking at one of those school rankings websites today. My parents always tell me the American Dream is in my hometown.

Well here's some high school rankings on a ten point scale:

Keokuk - 1
Ottumwa - 2
Muscatine - 2
Davenport Central - 3 (North and West - 1)
Earlham - 5

That's a tough sell if you have kids.
 
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KnappShack said:
I was looking at one of those school rankings websites today. My parents always tell me the American Dream is in my hometown.

Well here's some high school rankings on a ten point scale:

Keokuk - 1
Ottumwa - 2
Muscatine - 2
Davenport Central - 3 (North and West - 1)
Earlham - 5

That's a tough sell if you have kids.
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How and who makes those rankings? Seems tough for once group to know every school in a state let alone the US.
 
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