The current housing market

brutus161 The Navy Guy
1,688 posts 19 reps Joined Nov 2009
Mon, Apr 11, 2022 10:16 AM

Built my house 10 years ago. We paid $191K in total and we could easily sell in less that 24 hours for $425K (maybe even more). 

kizer permanente Senior Member
1,309 posts 16 reps Joined Aug 2017
Mon, Apr 11, 2022 11:07 AM
posted by gut

How sensitive they are to inflation depends on what is covered.  Generally, the Board & Residents try to keep them lower, because obviously rising HOA fees hurt home values.

But as HOA's mature, you'll often see increases just due to unforeseen issues (like no one knew to reserve to clean out the ponds every 10 years, they only reserved enough to cover half a roof replacement, etc...).

There are virtually no good reasons to buy anything with an HOA.  Most owners don't want to get involved, so you end-up with people who are either incompetent and/or lazy making very expensive decisions.

Ours are more expensive for this reasons. Ponds cost more than people realize.

Dr Winston O'Boogie Senior Member
3,345 posts 30 reps Joined Oct 2010
Mon, Apr 11, 2022 11:22 AM

I built a house in Birmingham, AL in 2018 for 472k. Sold it in December of 2021 for 655k to move back to Ohio. Bought a smaller house in Cleveland for 420k.  We overpaid for our house here, but got way overpaid for the one we left behind.  Got a nice rate for this mortgage and I’m now glad to be out of the market. 

sportchampps Senior Member
7,527 posts 34 reps Joined Nov 2009
Tue, Apr 12, 2022 10:58 PM

Well I think we managed to sell and buy again in one weekend. The housing market is absolutely insane. We looked at 20 houses over the weekend maybe 25. All but one sold. (What’s funny is the one that didn’t was our backup house). 


I’m not sure how some of the houses we saw managed to sell. One was in a bad location (noisy, busy street, vacant house 3 doors away, and there was a murder 3 days before it was sold right outside). 


It was an emotional roller coaster for my wife. The first day we saw 10-12 houses downtown, Grandview Heights, and Upper Arlington. Out of all of those we liked a house downtown but it had an attached wall but was four stories with great views of downtown and was very modern. The second day we saw nothing worth considering until the last house. It was a new build that was ready. They had 3 available. One sold while we were there looking. My wife feel in love with the model and they were willing to sell it to us . We also had the second one available as an option as well that would be a good backup. We needed to wait until our final offers in Dallas came thru to make ours. 20 mins after leaving the model we were told the next couple who came wanted it and was sending an offer. So we were down to one choice. When we landed our realtor called and said another couple wanted that one and was making an offer. We rushed an offer and went 5k over on the new build trying to get it. The other couple went 25k over asking and beat us. When we lost the lady called us and told us the couple who said they wanted the model still hadn’t made their offer. We went 5k over asking again but put a 2 hour deadline for them to accept our offer or lose it. They accepted and we ended up with my wife’s dream house. I wanted the one downtown but happy wife happy life. We will be about 7-8 minutes from the zoo in a nice neighborhood in Dublin schools.


Our house in Dallas went much easier. We got 5 offers took one for a little over 690k with a one month free leaseback for us. It’s crazy because we paid 490 11 months ago. We will close 367 days after buying. 


We should be back in Columbus by Mid June. 

GOONx19 An exceptional poster.
7,413 posts 94 reps Joined Nov 2009
Sat, May 21, 2022 1:08 PM

Closed yesterday on a 5/2 in a great neighborhood. Had to offer 60 days of free rent-back, but I'm thrilled to be out of the market. Hopefully it'll be our home for a few decades. We somehow schmoozed the sellers into accepting our offer for 50k under the competing offer, and they then sold for 10k under our max to boot.

Will be renting out our first home, so I guess I'm a landlord now.

sportchampps Senior Member
7,527 posts 34 reps Joined Nov 2009
Sat, May 21, 2022 2:43 PM

Congratulations 

birddog23 Senior Member
1,173 posts 7 reps Joined Aug 2010
Mon, May 23, 2022 9:31 AM

Meeting with builders today and tomorrow to go over our blueprints of 2200sq ft one story house and get pricing.

We're in NW Ohio. Any guesses on total cost of the build?

We are not doing anything too fancy. Not finishing the basement right away. Vaulted ceilings. But other than that pretty basic/normal for the most part.

geeblock Member
1,123 posts 0 reps Joined May 2018
Mon, May 23, 2022 9:48 AM

someone i know listed their house for 40k over what it was worth and ended up getting 126k over what the houses value was.  

justincredible Honorable Admin
37,969 posts 233 reps Joined Nov 2009
Mon, May 23, 2022 1:37 PM
posted by birddog23

Meeting with builders today and tomorrow to go over our blueprints of 2200sq ft one story house and get pricing.

We're in NW Ohio. Any guesses on total cost of the build?

We are not doing anything too fancy. Not finishing the basement right away. Vaulted ceilings. But other than that pretty basic/normal for the most part.

No idea, but keep us updated. I'd be curious what kinda of price they give you. This is pretty close to the size of house we'd like to build.

Where did you get your blueprints? Which builders are you meeting with?

birddog23 Senior Member
1,173 posts 7 reps Joined Aug 2010
Mon, May 23, 2022 1:55 PM
posted by justincredible

No idea, but keep us updated. I'd be curious what kinda of price they give you. This is pretty close to the size of house we'd like to build.

Where did you get your blueprints? Which builders are you meeting with?

Our architect was Graham Design Group out of Toledo. Really liked them, and more specifically Joel Graham who we worked with closely during the process.

The builders we are meeting with our local (NW Ohio, SE Michigan) custom home builders: Blake Homes and Redfox Custom Homes.

Blake Homes just finished a friends of ours home. The home is stunning, already finished their basement, 3 car garage, and is a 2600sq ft. ranch - that was over $500k.

I am desperately hoping ours can be as close to $400k as possible.

justincredible Honorable Admin
37,969 posts 233 reps Joined Nov 2009
Mon, May 23, 2022 7:11 PM
posted by birddog23

Our architect was Graham Design Group out of Toledo. Really liked them, and more specifically Joel Graham who we worked with closely during the process.

The builders we are meeting with our local (NW Ohio, SE Michigan) custom home builders: Blake Homes and Redfox Custom Homes.

Blake Homes just finished a friends of ours home. The home is stunning, already finished their basement, 3 car garage, and is a 2600sq ft. ranch - that was over $500k.

I am desperately hoping ours can be as close to $400k as possible.

If you don't mind telling, how much was the design service? Was it a fully custom design?

Ironman92 Administrator
56,729 posts 153 reps Joined Nov 2009
Mon, May 23, 2022 10:15 PM
posted by birddog23

Meeting with builders today and tomorrow to go over our blueprints of 2200sq ft one story house and get pricing.

We're in NW Ohio. Any guesses on total cost of the build?

We are not doing anything too fancy. Not finishing the basement right away. Vaulted ceilings. But other than that pretty basic/normal for the most part.

Guessing $405,000


justincredible Honorable Admin
37,969 posts 233 reps Joined Nov 2009
Mon, May 23, 2022 10:22 PM
posted by Ironman92

Guessing $405,000


One dollar, Bob.


Ironman92 Administrator
56,729 posts 153 reps Joined Nov 2009
Mon, May 23, 2022 11:45 PM
posted by justincredible

One dollar, Bob.


I don’t get it 🤷🏻‍♂️


justincredible Honorable Admin
37,969 posts 233 reps Joined Nov 2009
Tue, May 24, 2022 8:21 AM
posted by Ironman92

I don’t get it 🤷🏻‍♂️



One Dollar Bob

birddog23 Senior Member
1,173 posts 7 reps Joined Aug 2010
Tue, May 24, 2022 8:25 AM
posted by justincredible

If you don't mind telling, how much was the design service? Was it a fully custom design?

Their group charges $0.60 / sq. ft. So our prints, after a 2200 sq. ft. house was right around $1300.

Ironman92 Administrator
56,729 posts 153 reps Joined Nov 2009
Tue, May 24, 2022 8:25 AM
posted by justincredible


One Dollar Bob

Bob is 98 1/2 years old


birddog23 Senior Member
1,173 posts 7 reps Joined Aug 2010
Tue, May 24, 2022 9:04 AM
posted by Ironman92

Guessing $405,000


You might be the winner. We told him we wanted to stay as close to $400k as we could and he seemed optimistic about that. Lumber has gone down a bit. He's hoping lumber keeps dropping if interest rates keep rising.

j_crazy 7 gram rocks. how i roll.
8,623 posts 29 reps Joined Nov 2009
Tue, May 24, 2022 9:36 AM

any of you have an idea how i can get ahold of the plans for a house i used to own? we've decided that is the home we want to build on our plot.


birddog23 Senior Member
1,173 posts 7 reps Joined Aug 2010
Tue, May 24, 2022 10:14 AM
posted by j_crazy

any of you have an idea how i can get ahold of the plans for a house i used to own? we've decided that is the home we want to build on our plot.


If you know the builder of the home, contact them. They could still have the plans archived. Long shot though maybe.

Login

Register

Already have an account? Login