The housing market is downright bonkers right now. I don’t know if it’s like this everywhere…but inventory is low and demand is high in our area. I think a lot of folks are moving here because people are now working from home and can live anywhere. I don’t blame people for wanting to escape the cold or come to a state that isn’t stuck in March of 2020.
Makes sense.
But, this combo of high demand, and the lack of homes for sale, is causing the price of homes to be fucking ridiculous. Literally, mediocre homes are listed, have like 100 offers, and are sold over asking price in one day. It’s pure crazy town.
Of course, I am itching to capitalize on this. We have a 4 bedroom, 2,100 sq foot house with a pool. It’s a fine house. Nothing wrong with it, really. Besides the fact that I desperately need new carpet and flooring. There are stains everywhere. Coffee, dog pee, eyelash dye, slime. It’s a potpourri of nastiness.
I don’t need to move….but I would like a little more space. Just a tad. Like an extra bedroom for company, a 3 car garage, and a toy room for Evie. I don’t NEED those things…just kinda want them.
What’s nutty is, in this market, my house could probably sell for close to $500K. Yes, a half a million dollars. That’s with not replacing the shitty carpet! I paid $269K for it in 2018. How TF can my house sell for almost double in 3 years?!?!? A smaller house on my street with only 3 bedrooms and no pool is listed for $530K. TBD on what it will sell for….but that’s what it is listed at. If that sucker goes for anywhere near $500K, I’m outtie.
This is just stupid.
Stupid, but fortuitous for us if we can make a move. I would gladly sell this place for $500K. In a damn heartbeat. I am not nuts about the community and, like I said above, I would like more space.
We went around this past weekend to look at some communities we would consider moving to. I had thought, originally, that Gianna would never move out of our community because literally all her friends live here. But that child never fails to surprise me with her ability to acclimate. She is wonderful in that she is a chameleon…just like her dad. Move her anywhere and she will adjust. She’s totally fine with moving.
we are rich, but poor, all at the same time
With this market, we can look at houses that would normally be outside our budget. If we sell our house for $450K, we could afford to buy a $600K house and have almost the same mortgage payment we do now because of the interest rate and our ability to make a hefty down payment based on the sale of our house. I don’t know about you…but a $600K house was not in my game plan. I’m more than happy to add it to my game plan…but it just wasn’t there.
Looking at $600K houses is weird if it’s not something you do, normally. They are bigger….shit’s nicer….but mainly they are bigger. And, that’s not always good. I don’t like wasted space or gargantuan rooms. I want to feel cozy. I want space and rooms, but not dead space or formal dining rooms. I don’t need 2 fucking walk-in closets in my master or the ability to do backflips in my bedroom. Seriously….who designs this shit? I just want more rooms…not rooms for giants.
We went looking at a few borderline mansions (IMO) with the kids and of course they were giddy and in awe. We shouldn’t be in this space right now. Literally, Scarlett was running around the one house and saying:
this house makes us look poor right now!!!
And she’s a little right. I mean, there is a huge coffee stain on my carpet in the living room. We are living on the cusp of poverty, folks.
Video walkthrough of the house that makes us look poor is below.
Thank God no one else was touring the house when she said that, or I would have been pretty embarrassed. We don’t live in a shit box, folks. Jokes about the carpet aside. But, that’s the level we are upping to right now in this crazy market. Our current home looks destitute in the eyes of my 9 year old.
Christ.
So, we got the girls on board to move out of our neighborhood. YES! We can afford a house that will take us out of our section 8 housing according to Scarlett. YES! The problem is…finding a freaking house to move in to.
don’t want to be homeless
We know we want to build. I ain’t dealing with competing with 300 buyers for a property that’s 10 years old and a piece of shit. I don’t want that. I don’t want another house with nasty carpet. So, we are dealing with new builds. However, right now, with all the demand and the low supply of materials and labor….we are dealing with a wait. Builders are slowly releasing lots because of the demand.
They can’t keep up. I don’t know when a lot will be available, and I hate playing the waiting game. I want to make moves right now…while the house down the street is asking $530K for their $300K house. I want to list mine and be like “booyah, mine’s only $500K and got a pool and another bedroom! You know you want it!!”
I swear, this craziness better last until I can benefit from it or I’ll be really annoyed.
So, it’s killing me…this waiting game. I could sell now…and immediately capitalize. But then, I’d need to move before having a permanent home. Or lease back my home to the person that is buying it and pay them rent. But I don’t know how long I need. I just need to know that I have a new home coming before selling this one. A home that has everything I want right now. The planner in me is fighting with the other part of me that wants to take advantage of this idiocy that is the real estate market right now, before shit changes. This can’t last forever, and I really don’t want to miss out on getting a bigger home.
Wishing you luck on your endeavor!