Housing market trash

Jody Treadway said:
Congrats @CasterTroy! Happy for y'all!
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Thanks Jody
Jody Treadway said:
Lowe's type finishes, new home around the Asheville/Buncombe County area is $315-$350 sq/ft right now.
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Holy moses!!

We were projecting $170sqft in september. At the end....near November, IF we bought all the material that day and stored it, we were at $255sqft

I was simply not willing to pay that
 
CasterTroy said:
Thanks Jody

Holy moses!!

We were projecting $170sqft in september. At the end....near November, IF we bought all the material that day and stored it, we were at $255sqft

I was simply not willing to pay that
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That's why I still rent shop space instead of paying over double what materials should cost. Even at true cost to me.
Not gonna build a $65k shop for $150k and then bitch about the pricetag.
 
Top shelf houses, semi-custom move in ready in Greenville are still in the $150/ft range. New tract homes are selling for $135/ft, sometimes more if they are a little nicer than the usual.

dated houses that need some work are $110/ft or so.

homes that need a ton of work are still $85/ft.
 
rockcity said:
Top shelf houses, semi-custom move in ready in Greenville are still in the $150/ft range. New tract homes are selling for $135/ft, sometimes more if they are a little nicer than the usual.

dated houses that need some work are $110/ft or so.

homes that need a ton of work are still $85/ft.
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Going from new bern to vanceboro this morning there is a new subdivision in what used to be a swamp on 17 (isn't everything down there swamp??). They are advertising spec/slab houses from the 190's. Some looked to be 2 story, but dang, slab house in a swamp near nothing. 190 on the bottom end. Folks are crazy.
 
rockcity said:
Top shelf houses, semi-custom move in ready in Greenville are still in the $150/ft range. New tract homes are selling for $135/ft, sometimes more if they are a little nicer than the usual.

dated houses that need some work are $110/ft or so.

homes that need a ton of work are still $85/ft.
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I'm no realtor, but for the sake of comparison, this is my estimation of the Charlotte market:
Top shelf houses, semi-custom move in ready in Charlotte are in the $200-300/ft range. New tract homes are selling for $150-200/ft, sometimes more if they are a little nicer than the usual.

dated houses that need some work are also $150-175/ft or so.

homes that need a ton of work are $125-150/ft.

I think there has been less upward push in the $500k+ housing market, but the $20-80k market from 5 years ago is now $100-200k, and the $100-200k market is now $200-450k, and the $300-500k market is now $500-700k.
 
Jody Treadway said:
$350k around Asheville will get you 1200 sq/ft, on 1/2 acre, with paneling and needing a reno.
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And you still have to pay $100k OVER that $350k to purchased that home
 
Raleigh blows. We live in a house I bought back in 2007 but would like something newer with one more bedroom and at least an acre and a half with more than just a two car garage. We get showings canceled on us because sellers accept offers before we can even go look at places. My realtor says that $10k due diligence is now common and as mentioned above out of state buyers are making offers sight unseen. We are getting gentrified out of the town I have lived in for over 25 years but all sorts of two-income tech and pharma people. I cringe every time I hear of a plant expansion or some tech company making an announcement of a new place here in RTP. My wife has to commute into downtown every day so certain areas are really bad for that (like the entire US1 corridor heading north). It used to be that ITB (inside the beltline) was expensive, now it is anything inside the outer loop.

We are trying to keep the house we have as a rental property because it does not make sense to cash out to then have to spend a giant pile more and get an even larger mortgage.
 
How long before we rename this thread "Housing Market Crash"?
 
Like others have said, housing market in charlotte is ridiculous. House down the street from us is listed at 340k and its nothing special, small lot etc. Had 40+ showings in 2 days and is probably under contract already. We bought back in 2016 and our home value is already 100k + and my realtor buddy said we could probably double our money if we really wanted to.

Not planning on moving but it is nice to see my home value go way up.
 
awheelterd said:
Going from new bern to vanceboro this morning there is a new subdivision in what used to be a swamp on 17 (isn't everything down there swamp??). They are advertising spec/slab houses from the 190's. Some looked to be 2 story, but dang, slab house in a swamp near nothing. 190 on the bottom end. Folks are crazy.
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i drive past that everyday and am surprised at those homes in the swamp. That neighborhood was out together back in 08 or 09 and the developer lost his ass. Someone bought it cheap a few years ago and has been pushing it pretty good recently, likely making a shit ton now that the market is so crazy.
 
Jody Treadway said:
This would be a perfect time to downsize to a rental property (if you already have one) and sell your primary for mega $$$. When it crashes, take the $$$, but 2 foreclosures are rentals and really make some coin.
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I highly considered kicking out some of our renters and doing this. But we are just going to buy something small is as a rental while the house is being built. If I have to, use the RV on our land if I can’t find something.

don’t tell the wife. :lol:
 
Jody Treadway said:
$350k around Asheville will get you 1200 sq/ft, on 1/2 acre, with paneling and needing a reno.
That's why we live 35 minutes south where you get so much more for the money.
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Apparently folks heading East on 40 down to Marion too. Just saw a 1500 sq ft turd of a spec home listed for $335k. Never would’ve thought I would see the day that house prices here were similar to Charleston SC...but here we are.
 
Wow, and agree, we have a 1200 sq ft Log home on 3 acres, refied last year, appraised for 254,000. Bought it for 184 in 2016. Property values have skyrocketed!
 
Any place that has easy access to I-40 near asheville is selling high and fast. Asheville is basically out of housing. I’ve had three realtors come through my neighborhood and ask everyone on the street if they were willing to sell. They could have it sold in a week. Sounds good until you realize you gotta over pay for where ever you move to.
 
We were looking in the Black Mountain/Weaverville areas for 2 years while renting... the market is silly.. Found a 66 acre mountainside farm and log cabin that had been added onto for what an average neighborhood house cost.

Bonus: The schools have way better ratings and we are equally between Asheville and Johnson City if jobs ever become an issue.

Bonus 2: There's a 700 vertical feet of mountainside for playing :driver:
 
Yeah prices around here are almost to the point of us selling our forever home to some sucker for a MINT. I’d hate to have to move but if we do it will be up around the tri city area of Tn. Going off our recently adjusted tax value our place is worth 4x what we paid to have it built in 2008.
 
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