/biz/ - Business & Finance

but 5 months ago was being sold for 500k

just wait for couple years, you'll get your crack house for crack price

>>49645211
5 months ago you could get 2% interest almost free money and hella leverage. It's going to be a caste system for those who own real estate and those who don't.

>>49645154
That's a steal. Just needs a little bit of sweat equity.
Also regardless of your pleb brain viewpoint there are quite a few houses available in between the highest and lowest markets in america. Pick one and work your way up if you want to live in the most expensive one or just get a job that pays correctly for local housing market and move in tomorrow.

>>49645426
No it won't you lazy uneducated unskilled burger flipping retard.

>>49645476
Yes it will you lazy uneducated unskilled burger flipping retard.

>>49645154
We aren't in a bubble. Please buy my house for million dollars.

>>49645601
>List house for sale
>Doesn't sell for a month, so fuck it increase the price by $50K
????

>>49645725
3 years this house double in price

>>49645438

>sweat equity
>in detroit

>>49645725

Peak boomer brain. They read stories about houses selling immediately for high prices and think they can get in on it. The greed of the boomer knows no limit.

Jumped 40% in one year.

>>49645891
Dec 2021 to June 2022 40% increase

>>49645415

You might even get a free crackwhore thrown in with it.

>>49645438
>there are quite a few houses available in between the highest and lowest markets in america.
Actually one of the reasons you don't see many middle sizes homes is that the upper middle class is under serviced. They're competing with the middle class for the better end of middle class homes and have more purchasing power.

This house was built in 1962. The number of time it was sold, bought and up for sell again with +40% is sicking.

>>49645808
See this pic? This is the proof that the market is a bubble and will pop. Prices are headed down. I called this in april end

>>49646269
>use anonymous website
>I called this in april end
What else did you call?

>>49645808
>look how much of a steal this is guys, it's 150k off!

If you look up the street, the other houses there are pretty decent. It's expensive because it's going to be sold to a house flipper that would otherwise flip the house into something worth half a million off of 30k. The seller knows this so they're getting their slice.

>>49645154
>mortgage interest rates soon to follow
anon ... look at the 30y mbs yields.

>>49645883
>>49645725
I think that means they received several offers so they figured they might as well bump it up, or someone offered over asking. Don't know. Never bought a house.

>goes from 700k to 1 million
>In 4 months

>>49646469
They bumped it up months ago. If they had an offer it would be listed as pending or contingent by now.

>>49646624
https://www.zillow.com/homedetails/1220-S-Mill-Ave-Tempe-AZ-85281/7585175_zpid/?utm_campaign=androidappmessage&utm_medium=referral&utm_source=txtshare
For context

>>49646665

What in the absolute fuck is that price. I live in Tempe and know where that is.

>>49646386
>bizreals cant get sub 1 percent loans to flip houses for 10 percent plus easy gains

BUSINESS and finance board though right? Real estate is for wealthy people stick to your internet gambling coins kiddo.

>>49646665
"If you don't want to pay $1 million for a starter home just leave the coast bro, plenty of good opportunity in the Sunbelt!"

>>49646314
I didn't write it here, I have pictures and records of when I called stuff like this so I can show future employers that I'm not a retard when it comes to investing.

Other things I called:
Food shortages
Energy deficit
Inflation
Prime rates
Mortgage rates
Covid lockdowns
Tech bubbling again
Delivery services headed upward
Private charter services
Mask supply
Vax Stonks
etc

You just have to not be a retard, ignore everything anyone tells you is happening, and look at reality, and you can do this yourself.

>>49645154
>How the fuck are we supposed to make it.
You're not

>sold for $646k
>2 and half years later
>1.1 million
https://www.zillow.com/homedetails/6634-E-Morningside-Dr-Phoenix-AZ-85054/284853075_zpid/?utm_campaign=androidappmessage&utm_medium=referral&utm_source=txtshare

>>49647109
Based schizo. I predicted everything that has ever happened since my conception just using my very large brain that has many folds.

>>49645154
>How the fuck are we supposed to make it.
literally by killing politicians and international merchant elites. it's literally the only way we as a group can own homes and have families at this point. or you can try to scrape by on your own somehow with a "fuck you got mine" attitude. it's mathematically impossible for any significant amount of us to succeed though.

>>49647199
I can't top that bro you have the crown.

>>49645154
>>Literal 700 square foot crack houses being sold for $250,000
>>Same property sold 12 years ago for $35,000
B O O T S T R A P S.
You guys wanna just grab our guns and move to the south and just do whatever we want?
Housing prices wont ever go down.

>>49645415
>He thinks boomers will let go of their retirement money.
Okay.
>>49645476
>lazy uneducated unskilled burger flipping retard.
WOAH WOAH WOW, dont talk about yourself like that.

>>49647362

Boomers also didn't work to protect the future so they let foreign investment into real estate occur. So you're competing with foreign billionaires as your new landlords because your boomer parents wanted to cash out and live in a swinger colony in florida.

>>49645154
Did the spics get run out and now the neighborhood is gentrificating? Thats the only way that price makes sense.

>>49647415
Just kill-dozer the insulin factories
https://www.npr.org/sections/health-shots/2016/05/25/479359856/baby-boomers-will-become-sicker-seniors-than-earlier-generations

>>49646469
>Never bought a house.
My mother and me used to live in a house then her bitch ass moved me to America to live in a fucking shoe box apartment.
Lmao, I even got a shittier education too.
America is basically Africa now. What a dump.

>>49645154
I got a 2,500 sqft house in Ohio for 100k literally last year.
So why don't you just move to a small midwest rural town anon, it's comfy af and over 95% white here, feels like it's still the 1980s here, in a good way. Well...at least the way the 80s was portrayed in movies that took place in small rural midwest towns. ET, super 8, stranger things ect.

>>49647306
>or you can try to scrape by on your own somehow
Yeah I just wanna get rich and leave America, you can keep Africa Kike fun land for yourself.
>>49647415
My dad does cocaine and powwow music, I dunno what my mom does for work but shes more broke and poorfaggot than even I am and she GRADUATED highschool.
Lmao, my mother is doing worse, No idea what my dad is doing, I might actually just commit low end crimes and sit in low security prison for the rest of my life.
Lmao, Florida, lol, like my bitch ass mother could afford to move there with the rest of her kike friends.
LMAO. We had a house before we moved here.

>>49647506

Are there jobs there? Or will I have to do the remote working meme?

>>49647430
>Did the spics
Family of spics next door to me have multiple new cars in good condition.
Its niggers and you know it, white boy.
Even Africans are doing better than niggers and the rest of Americans at this point.
Lmao, I cant even escape from here.

>>49647544
>Yeah I just wanna get rich and leave America
boomer mindset. kys.

>>49645154
Live literally anywhere that isn't on the coast and you will find affordable houses you stupid faggot.

Just stop living near faggots.

>median sale price for US homes Q3 2021 is $411,000
>median household income of $67k
>median household paying for a median house would put ~50% of their pre-tax income just to mortgage
We’re really entering peak eat bugs rn

>>49647626
>median household income of $67k
bullshit there is no way its that high

>>49646019
There are like 8 in the backyard garden.

>>49645725
>>49645883
>seller drops price by 5k on a 500k property after near 200k equity

greedy retarded fucks. 5k does shit to a monthly payment.

>>49647568
I got a job as an industrial engineer. I make 82k per year, but because my house cost is so little I live like a king.

Just use indeed to find what areas are hiring for decent pay. Do a little research.

But generally Ohio and Indiana have cheap houses everywhere. You could work in Columbus or something and live outside of the city in a small rural town and just drive into work. That's what everyone here does.

How bad an idea is it to buy property right now anons? I'm under contract on a $600,000 house but considering breaking it due to fud

>>49647842
break it... Give a sob story about your cat dying. Anything.

>>49647586
Spics are a race of toliet cleaning goblins. They have spread like a plaque and lowered property values in many urban areas across the US in the past 40 yeqrs and have been a driving force behind white flight and high house prices in California as all the whites fight over homes "in good neighborhoods" which is a code word for white. Dumb millennials obsessed with city living are causing gentrification of once spic dominated hell holes and returning them to the 1st world living status they once were know for pre invasion. That's why the house in OP is 250k. Its in a city being getting bleached. The goblins are all pissed off complaining about rising rents and dog parks. Too fucking bad. Go back to Mexico. Hipsters are taking over and fixing the urban areas you goblins invaded and ruined.

>>49647777
But bro the charitable boomer dropped the price $1k

>>49645154
>Contractor's Special....bring your toolbelt!
>Great for the handyman!
>Diamond In The Rough!
>Zip it up and Zip it Out!
>For weekend warriors only!

>>49647968

kek they bought it in 2012 for 200k. This nigger raised the price 500%

>>49647968
laughed, but raged too.

Lmao. Get displaced goblins. Based faggots and hipsters gentrifying the spics away.

>>49647968
that is like 200 star-bucks coffees

>>49648048

>sold AS IS
>some fire/water damage not pictured!

>>49647879
why should we expect real estate to crash more than anything else? if inflation is the problem then it's the value of the dollar, not the price of the house

>>49648048
>Create your dream home
>Up and coming neighborhood
>No HOA
>Let your imagination do the work

>>49647400
Are you 12 years old?

>>49648178
no one knows. damned if you do, damned if you don't.

>>49648048
>for weekend warriors only

>>49645554
You will always be poor and stupid.
>Verification not required
kek

>>49648215
700 sq ft on a postage stamp lot. Enjoy your bugs

These are so easy to fine but I should be working
https://www.zillow.com/homedetails/7345-E-Jenan-Dr-Scottsdale-AZ-85260/81987119_zpid/?utm_campaign=androidappmessage&utm_medium=referral&utm_source=txtshare

>>49646820
I own a home and I'm not in the business of taking something like housing and turning it to profit. I understand how it's done though.

>>49648048
>has good bones
>just needs some sweat equity
>would make for a good starter home
>up and coming neighborhood
>has structural issue
>may have foundation issues
>cash offers only
>won't last long

>>49646624
They have to accept the offer. If you receive so many they don't have to sell and can bump up the price. Kind of like when a crypto fag is going to sell at $60k but gets greedy and waits for $100k.

>>49648592

The fucking greed in Phoenix is off the fucking charts for a city that's so shitty to live in.

>>49648592
>775k-1.6m in 2 months
Wtf happened?
>>49648640
Forgot to turn on

>>49648735
VPN

>>49648735
206% price increase happened

>>49648756
voluptuous pregnant niggers?

>>49648592
$2000/sq ft?? The one I'm buying is $228 and I feel like I'm getting ripped off

>>49648832
God I wish.

>>49648640
>fix it up wagie so we can raise your property goyim tax

Look they lowered the price.... it was half the price just a year ago....

>>49649167
https://www.zillow.com/homedetails/6108-E-Juniper-Ave-Scottsdale-AZ-85254/8023328_zpid/?utm_campaign=androidappmessage&utm_medium=referral&utm_source=txtshare

>>49645154
I thought shotgun shack meant a shitty house but its just a type of those trendy tiny houses. Its a luxury thing actually. Hope I can afford one one day

>>49645154
That whole area is gentrifying. This isn't like a crackhouse in chicongo.

>>49649410
$250k for a lot. The house need to be torn down. then another ~$300k to build a new house. Oh and you need to live somewhere while the house is being built. Sounds like a great deal.

>>49649167
>the price went up %500 but it dropped by %5 recently, cheap houses here we come!

>>49645601
>>49645808
>>49645891
>>49646224
>>49646520
>>49647192
>>49648592
>>49649167
The thing that gets me is the price jumping ~100% after one or two years. Then a month later they pull back 5%. Fuck these people who ever they. I hope it crashes and I hope they go bankrupted

>>49645154
Have I got a great deal for you!
Just needs a new front door and you’re good to go!

>>49649694

The speculation party is over because there's no longer any cheap money to borrow.

For example if you get a $500,000 house at 2% interest your payment is $1800, but if you are at 7% the payment is $3300.

At 1 million at 2% the payment is $3,696
At 7% the payment is $6,653

So in summation the cost of borrowing has doubled the monthly payment yet they have only brought the price down by $1000. The houses are twice as expensive now just not on paper. But I can confidently say that living in Phoenix there's just not enough people making that kind of money. Those houses are going to sit on the market for a really long time.

>>49649783
Someone bought it!

>>49649875
Modern bathrooms have been restored!

>>49649783

>condemned shack in the barrio for $160k

Did they specify if it was a blood, crip, or MS13 neighborhood?

>>49649783
Nice it only went up $40k in less than a month.

>>49646019
>move into shitty house
>find crackwhore in the basement
>remove stairs
>whenever you're stressed or feeling mad drop a ladder into the basement
>go down into the dark and beat the shit out of crackwhore to relieve stress
>go back up the ladder and pull it out of her reach and live your life stress free

There is no downside here.

>>49650044
you have to feed her and it would start to smell really bad down there unless there's a toilet.

>>49648735
>autism
I am not samefagging you autist. The "sweat equity" comment earlier was sarcastic. The rest of the post was on the level.
>>49649128
Taxes are generally based on neighborhood, sq/ft, number of bed/bath, ect not the condition of the property. Simple lipstick remodels don't raise taxes. That is why shitty houses surrounded by nice homes will pay the same tax based on sq/ft, number of bed/bath, ect. There is no reason to live in filthy worn down house in fear of the tax man unless you are dirty jew I guess.

>>49650335
They did nothing to the property but it cost $130k after one year.

>>49650335
Hola guey.

>>49650366
within one year it was on the market 3 times.

>>49650403
Pretty nice sized lot though. Hows the neighborhood?

>>49650470

It's located between South Phoenix with is a Spic Hive and ScaryVale which is a nigger hive. With no exaggeration you are in gang territory.

>>49650470

https://usaestaonline.com/worst-neighborhoods-in-phoenix

It's located in one of the worst neighborhoods and surrounded by 3 of the other worst neighborhoods.

Latina here from glendale arizona. Can a cute white guy take me out to scottsdale:(((

>>49650470
No bueno, guey.

>>49650778
post you're cock and maybe i will.

>>49650546
>>49650683
Its on 1.64 acres of land. You can 100% subdivide that land and probably sell it for a profit. It will just take a bit of effort and with the growth of phoenix it might take a while

>>49650853

>just buy 2 acres in detroit bro it will grow and you can subdivide

Did you miss the part where it's in the worst neighborhoods? Nobody wants to live there.

>>49650470
its a fucking wasted desert

>>49648178
The FED is raising rates. That means debt will be more expensive. You have two chooses.
>Do I want an expensive home and cheaper interest rate?
or
>Do I want an cheap home and expensive interest rate?
If anything the loan expensive and home are expensive. Wait 6 months for homes to get cheap. Then jump on one.

>>49651547
>>49648178
If you can tough it out with cheap house and expensive rate. You can refinance in 10 years and have both a cheap house and cheap rate

>>49651628
If houses get cheap. I wonder what percentage of homes are being bought with cash these days, house prices may be somewhat decoupled from interest rates.