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197.85 acre lot is currently $850,000.00.
3 lakes,mix of grass, timber.
It's also an hour from Kansas City, Missouri.
Great hunting
Rolling hills
That's on the outskirts of my small town.
20.02 acres in town is $99,000.00
5.04 acres in town is $75,000.00
Custom built home outside town on 3 plus acres is $530,000.00
Energy efficient 2x6 over sized garage
Located near major highway and town
156 acres 4 bed 3.5 bath(3970 sq ft) house $1500,000.00
15.5 acres lot no house
$132.447.00
Has access to creek on property
Water and electric at the road.
Additional 15.5 acres to the south is also available to purchase.
21 acres 3 bed, 3.5 bath (4520 sq feet)
$132 sq ft.
$600,000.00
 
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Hooch said:
my neighbor just sold a ten acre parcel he bought 5 years ago for around $20,000 here in rural Idaho about 2.5 hours north of Boise. NO well, no power sewer , just bare land for $150,000!
while it is great for the folks who can make a good profit..I don't see this bubble lasting much longer...I could be wrong but will all that is going on I doubt it.
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Good to see you active on here again, hope things are going well
 
Hooch said:
Well..if it drops I'll let you know..
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That's when it's time to shop.
I'll tell a little story about the last bubble bursting if you want. If not, skip out now!
When the bubble burst, every mailbox was flooded with flyers about absolute auctions on repossessed properties.
I confess, I am a lowlife bottom-feeder and will happily take advantage of someone in dire straits.
I was living in an apartment and looking at a brochure full of beautiful houses.
Had a girlfriend that was a letter-carrier so we went and looked at all of them. None were over 5 years old.:) I scribbled down a number on the brochure on each one, about half what they were worth.
I figured it was a scam, but they had the magic words on the bottom of the brochure....Free Beer!
This one 3y/o house, 1369sqft, 3br, 2ba, vautled ceilings, fireplace, wall to wall carpet, joined 2 car garage. I penciled down $36K.
At the auction, me and GF were having a blast drinking as much free beer as we could.:drink buddy:
When the house came up for bids, the bidding slowed down to $250 incriments.
It was up to about $28,750 and the "bid-pump guy" came by and said: "Bid $30K and you will blow him out of the water!!!"
I hollered "THIRTY!" ...Silence....except for the hammer banging 3 times.
GF and I were laughing our butts off, "Yeah right, I just bought that house for $30K:LOL:hand me another beer! This is all fake.
Sure enough, here comes a little bald-headed guy up to me and says: "I'm sorry, they cannot sell you the house that low". We looked at each other holding beer bottles and busted out in hysterical laughter.:D
Here's the part where being an AH saved me $6,000.
I had $36K written on my brochure, but I wouldn't let him see it.
What I did NOT say: "Well, I woulda bid it up to $36K, but nobody would bid against me".
What the AH said: "Weeeell, just tell'em to keep it then!"
...He came back a few minutes later and said: "They're gonna sell you the house":oops:
I saw him again at closing, he was the mortgage-insurance guy that was on the hook for the $78K owed on it.
He paid $48K, I paid $30K, and got the house.:thumbs:
 
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Thirty two years ago, I paid $62,000.00 for my 18072 square foot house.
Today the internet realtor says that it is worth $144,000.00, but they have never been inside.
My raw land said to be worth $10,000. an acre, but I do not know that to be fact, nor am I not putting it on the market.
 
MoBookworm1957 said:
197.85 acre lot is currently $850,000.00.
3 lakes,mix of grass, timber.
It's also an hour from Kansas City, Missouri.
Great hunting
Rolling hills
That's on the outskirts of my small town.
20.02 acres in town is $99,000.00
5.04 acres in town is $75,000.00
Custom built home outside town on 3 plus acres is $530,000.00
Energy efficient 2x6 over sized garage
Located near major highway and town
156 acres 4 bed 3.5 bath(3970 sq ft) house $1500,000.00
15.5 acres lot no house
$132.447.00
Has access to creek on property
Water and electric at the road.
Additional 15.5 acres to the south is also available to purchase.
21 acres 3 bed, 3.5 bath (4520 sq feet)
$132 sq ft.
$600,000.00
Click to expand...
Some of these properties have been on the market for several years.
 
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Ah, yes, property values... they went through the roof as I sold my home in Benson, AZ, and I was subsequently "priced out" of Arizona, since I only had so much money. Jumped on this NM property when I had the chance, no real regrets yet, but I did consider bouncing farther back into the woods... however, this crazy real estate market makes me leery of any additional relocation at this time. Prices are just too crazy, and many sellers are trying to unload junk properties for WAY too much money. Best thing I can do is stay put and continue my home rehab efforts... I'm still trying to climb back aboard that home rehab horse. My motivation went south for awhile, but I need to focus upon the positives here: I have a roof over my head, I have a fairly large yard, I have trees on my property, and best of all, I own it all free & clear. I think that's REALLY important, given the sketchy economic outlook & fraudulent regime in power. I would NOT want to enter any agreement involving heaps of debt... I'm not big on banksters anyway, so I reckon I just hunker down here and see what happens in this Brave New Fraudulent Third World. :oops:
 
That's what I'm talking about... and I still remember those unimproved lots, just raw land with no water and unlikely drilling prospects, going for thousands & thousands of dollars. For lousy high desert dirt dry as the Sahara, lol... :oops:

Then there were the absolute train wrecks going for $50K or more, homes that would otherwise be slated for demolition... I ain't joking either, some of those older manufactured homes I toured in AZ were bombed-out wrecks, lol. For $50K!!! :(
 
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prefixla said:
It is not a secret that property prices went up during the global COVID-19 pandemic lockdown, and still, the real estate property prices are growing every month.
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I find this very strange, especially when all prices for stocks and cryptocurrency are falling. These are clear signs of housing market crash times when all property prices will go down by a high value, as happened with BTC prices this spring. So yes, I also think the next bubble will explode this summer, angie_nrs.
 
MoBookworm1957 said:
197.85 acre lot is currently $850,000.00.
3 lakes,mix of grass, timber.
It's also an hour from Kansas City, Missouri.
Great hunting
Rolling hills
That's on the outskirts of my small town.
20.02 acres in town is $99,000.00
5.04 acres in town is $75,000.00
Custom built home outside town on 3 plus acres is $530,000.00
Energy efficient 2x6 over sized garage
Located near major highway and town
156 acres 4 bed 3.5 bath(3970 sq ft) house $1500,000.00
15.5 acres lot no house
$132.447.00
Has access to creek on property
Water and electric at the road.
Additional 15.5 acres to the south is also available to purchase.
21 acres 3 bed, 3.5 bath (4520 sq feet)
$132 sq ft.
$600,000.00
Click to expand...
Prices are beginning to drop.
Foreclosures are beginning to appear.
 
MoBookworm1957 said:
Prices are beginning to drop.
Foreclosures are beginning to appear.
Click to expand...
Completely predictable.
Many of the purchases driving prices thru the roof were from speculators buying them as an investment with highly leveraged money. Time is running out.
Fear not, the carpetbaggers will appear. :( (You have to know southern history for that term:rolleyes:)
 
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GAYted communities going up daily. the burbs are getting a bit too urban for my tastes.
 
On topic: Little story time...
I remember about 8 months ago a house up the street from us went up for sale.
The price was $185K. (it wasn't even brick:oops:)
I was on a walk when the realtor was showing it so I thought I would help out by telling the prospective buyers: "This is a great neighborhood and the power never goes off during bad storms" :thumbs:.
The house sold.
...And nobody has lived in it since then:mad:.
It's still empty.
 
Supervisor42 said:
Completely predictable.
Many of the purchases driving prices thru the roof were from speculators buying them as an investment with highly leveraged money. Time is running out
Fear not, the carpetbaggers will appear. :( (You have to know southern history for that term:rolleyes:)
Click to expand...
I know what you're talking about.:thumbs::ghostly::rolleyes:
 
A friend of mine was looking to buy something......anything.....in Florida as a retirement home. She was on the email list of several realtors in the area. She said about a year ago, everything sold immediately with mostly cash sales and well above asking price. She said a couple of months ago, things were staying on the market a bit longer and selling pretty much at asking price. She said that today there are more properties available and things are starting to sell below ask. She's no longer interested in buying in that area as things have changed in her life, but she still keeps an eye on it.

I spoke with a bank loan officer in my area and she said they are not busy at all. She said it was totally predictable. But it's nice to know people who work in the real estate market just to get a good idea on the timing of it all. She said she was slammed with work at the beginning and in the middle of 'Covid'.

It looks like the hot air is starting to leak from the bubble.
 
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angie_nrs said:
I spoke with a bank loan officer in my area and she said they are not busy at all. She said it was totally predictable. But it's nice to know people who work in the real estate market just to get a good idea on the timing of it all. She said she was slammed with work at the beginning and in the middle of 'Covid'.

It looks like the hot air is starting to leak from the bubble.
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Supervisor42 said:
For those that don't know history, a little song:
Rock-a-bye baby, on the treetops,
When the wind blows, the cradle will rock,
When the bough breaks, the cradle will fall,
And down will come baby, cradle and all.

A history refresher lesson for the others:
Anybody that believes we are not staring straight at a housing bubble, well, they need new glasses. :mad:
Click to expand...
Anybody been following along with this story?
Take a look today :oops:.
Everybody that paid twice what a property was worth, threw away half of their money. :confused:
Investopedia said: They can force people to look for ways to pay off their mortgages through different programs or may have them dig into retirement accounts to afford to live in their homes. Housing bubbles have been one of the main reasons why people end up losing their savings.
Click to expand...
 
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Dang, just catching up to this thread, and BOY, am I ever GLAD I found THIS home on the outskirts of Alamogordo! A 3BR/2BA manufactured home (14' x 80') on half an acre (feels larger due to equally-large-or-larger parcels around me, plus fairly wide country lanes), with two sheds on primo concrete slabs, including a nice large nearly-new metal shed, plus a dual metal carport which matches the large metal shed (same outfit erected both), AND a brand-new septic system which the seller had to pay for since the existing septic system failed the mandatory state inspection, lol. My lot has 30 pine trees on it in a rectangular windbreak, plus other trees, vegetation, landscaping, etc. The entire property cost me $40K CASH, lol... and I now realize how fortunate I was to call the realtor gal who "saved" the place for me, after I told her I was living in a tent with three cats for months on end. 109 days total, the field camping, by the time escrow closed and I made my way out of Whetstone, Arizona (not far from Tombstone). :oops:

Now, even with the real estate bubble starting to burst and prices coming down, I could turn around and sell this place for 3 or 4 times what I paid for it, EASY, but that is NOT what I want to do, especially in these fraudulent & uncertain times. I never intended to flip homes in Arizona when I bailed from the Socialist Republik of Kalifornia, but I wound up selling TWO homes (and making good money), just to stay afloat amidst all the BS going on in this country, due to dirty globalist swine and their scumbag political tools, ALL bought & sold like so many branded and ear-tagged cattle, GRRRRRR! I felt like I HAD to sell those two homes just to stay in the black, and luckily I was free to do so (as a bachelor), no kids in school to worry about, no job after that one in Benson went south over the inmate smoking near fuel, go figure. Meh, I'm here in Alamo now, and here is where I'll STAY for the foreseeable future, I do NOT want to pull stakes AGAIN with all this globalist BS & political FRAUD going on today. Not a good time to relocate, though I would do it again if I had to do it. :confused:

During those 109 days in the field, I toured a dozen homes in SE Arizona, all of which were NOT worth the asking price, they were just POS homes which had seen their day and should have been demo'd, but the sellers were trying to capitalize on the insane real estate market. That's why I branched out and started checking listings in other states, including NM, OK, TX and the Carolinas... I checked other states too, but didn't find anything worth buying in my price range UNTIL I stumbled upon this property. Luckily, I JUMPED ON IT minutes after the listing appeared, as I had already been SCREWED several times earlier by investors when I did NOT move fast enough to make my full-price offer, go figure. It was just NUCKING FUTZ, that crazy real estate market, I don't even wanna think about it anymore, lol. At least I lived well in the field, with firewood delivered by the cord, coolers full o' beer and gourmet food, etc., but 109 DAYS!!! Damn. o_O

Anyway, my only advice---as if I'm even qualified to offer it, lol---is for folks interested in relocation to DILIGENTLY search listings in their target areas, day after day if necessary, and once you FIND a property which looks suitable, do NOT hesitate to make your offer, or some douchebag investor or outfit of investors will beat you to it, every damned time. I put up with that disappointing BS several times while camping, thinking I might have found a place, only to have my full-price offer topped by some wank who didn't really need a home, the wank was just looking to profit. I get the whole capitalist scene and making money off real estate, but when crunch time hits the nation as a whole, there ought to be a law about homes being sold first to folks who actually NEED them... but what do I know, AYE? I was just a poor schmuck looking to stay afloat and find a place to hang my hat, other than a U.S. Army Arctic Tent, lol. Damn, I look back upon that whole ADVENTURE with some fondness NOW, and I even joke about it among friends, but I would NOT like to REPEAT IT, lol. ;)

P.S. Might as well throw in a few pics of my camping adventure, just to bring back the wonderful memories, lol... :cool:

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