forums

Off-Topic Stock Market & Crypto Discussion

Canefan4life said:
Yup, that’s what I deal with.

Plenty of people remodel or partial and you shake your head to how bad it still can look.. better saving the money and letting someone do it exactly how they want it. If you’re buying a house for near a million now at these interest rates. You have money to do remodel how you want.
Click to expand...
I'm dealing with good friends of mine who would rather drive 20 miles from their ideal locations than buy a home that isn't move in ready to their specifications. It drives me nuts. Decor goes out of style. Location does not.
 
Advertisement
JD08 said:
Last realtor I spoke with was adamant about not doing anything to the house as far as additional remodeling. It would seem it's an all or nothing deal now. Either it looks like a model home or it's a fixer upper.
Click to expand...

I think it depends on how much the house is worth vs. the land. If the real value is the former, many improvements will add to the value. If its the latter, there is no point in improvements.
 
SpikeUM said:
I think it depends on how much the house is worth vs. the land. If the real value is the former, many improvements will add to the value. If its the latter, there is no point in improvements.
Click to expand...
I'm almost certainly in the latter category. Especially considering a baseball player bought 3 properties with houses totalling 10 acres and tore all but 1 down. The one that stayed looks like it will be a guest house. The house he's been building for tge last 4 years is massive.
 
JD08 said:
I'm almost certainly in the latter category. Especially considering a baseball player bought 3 properties with houses totalling 10 acres and tore all but 1 down. The one that stayed looks like it will be a guest house. The house he's been building for tge last 4 years is massive.
Click to expand...

Then it sounds like good advice.
 
Advertisement
States run lotteries which are legalized gambling. Politicians having cryptocurrency named after them is no different than them starting a tech business.

Just to be clear- I’m not a fan of any of the above
 
Last edited:
Median house - listed for 5 days. Pending $10k over with 9k towards closing. We likely could have extended the showings by a week to get 2-3 more offers. 12 showings and 5 said they were going to write offers but we only got one.
 
Interesting factoid

Renters have less than 3% of the wealth of homeowners, with a median net worth of $10,400 compared to nearly $400,000 for homeowners. The renter-homeowner wealth gap is not due solely to home equity. Median home equity ($200,000) is just over half of the amount of median net worth for homeowners, indicating that much of homeowners’ wealth also comes from other assets. Indeed, 78% of homeowners own a potentially appreciating asset other than their primary residence, compared with only 48% of renters. Source: Aspen Institute
 
SpikeUM said:
Interesting factoid

Renters have less than 3% of the wealth of homeowners, with a median net worth of $10,400 compared to nearly $400,000 for homeowners. The renter-homeowner wealth gap is not due solely to home equity. Median home equity ($200,000) is just over half of the amount of median net worth for homeowners, indicating that much of homeowners’ wealth also comes from other assets. Indeed, 78% of homeowners own a potentially appreciating asset other than their primary residence, compared with only 48% of renters. Source: Aspen Institute
Click to expand...
Rent or lease own is a option to sell a house.
 
Advertisement
SpikeUM said:
Interesting factoid

Renters have less than 3% of the wealth of homeowners, with a median net worth of $10,400 compared to nearly $400,000 for homeowners. The renter-homeowner wealth gap is not due solely to home equity. Median home equity ($200,000) is just over half of the amount of median net worth for homeowners, indicating that much of homeowners’ wealth also comes from other assets. Indeed, 78% of homeowners own a potentially appreciating asset other than their primary residence, compared with only 48% of renters. Source: Aspen Institute
Click to expand...

This makes perfect sense. The average home is owned for 7years. Those low rates and massive appreciation over the last 4-5 years mean that a home owner would have seen a massive networth increase, lower cost of housing every year, and likely higher income.

Renter- rent goes up by 10% eating into their income
Homeowners- costs may go up by 1% (taxes/insurance).
Income inflation 3% (don’t know the exact)

After owning for 7 years(average) the person gets profits tax free up to 250/500k (single/married). They can elect to reinvest anyway they want.

Homeowners likely have standard w2 thus 401ks that can get contributions due to lower cost of living.
 
Back
Top