Arlo and Janis by Jimmy Johnson for June 20, 2024

Reality can be a slap in the face.

So drink more wine. Easy peasy.

I miss the ‘it’s the start of summer’ strips in the good ol’ A&J back yard

Maybe Gus can help get a good deal. He knows the lay of the land, pretty well there.

Yeah. I mean we bought ours 15 years ago at $180K and a friend who is an appraiser told us we were just shy of $420 now. This for a 1080 sq ft house!

Perusing a clothes catalog – while knowing in just one short season’s distance there will be sales with huge discounts. But don’t fear: there will be awesome discounts on housing, too, when the next real estate bubble bursts.

Yup, like I said, no more rose-tint on those glasses!

Gus will give them something.

We built a beautiful home on the Gulf side of Florida 10 years ago for $325k. Now going for the vicinity of $750. Incredible.

I have never perused a clothing catalog—browsed them, yes, but never perused—they’re just not that interesting to me . .

House next door was flipped. The flipper redid everything. But still it isn’t that big a house and the yard is small. $350K is what it sold for. I was shocked. The one on the other side 10 years ago sold for $150K.

Bought ours 10 years ago in a tourist town. It had been empty for a year because it was too expensive at 175K. Now there is a housing shortage here and homes have skyrocketed in value. We’re pushing 400K with ours now.

Why do you think your son built one?

With enough wine, you’ll find them more affordable. Don’t ask me how I know.

Reality begins to rear it’s ugly head.

I bought my second home for $175,000.00 I sold it 22 years later for $1,250,000.00 and all I did to improve it was add two trees. lol

Since they can afford McDonalds they could buy anything they want.

We were looking a year or so ago, but not any more, wall street/corps buying up houses has killed the market for buyers.

When I get the occasional call to sell, I say sure for $1,000,000 since my house is worth $480k and it will take that much to buy what we would want and put in all the upgrades, new roof, better kitchen, new A/C , furnace etc.

I’ve been against the move since this story started, this might end the plans.

We lived in a mobile home for three years. it’s do-able.

I had an experience and I am going to share it here

Uh-oh, hot housing market, cold feet.

This is why when I retired, I sold the house and moved into the boat. Great dock services with restaurants and venues close by. Best of all is new scenery whenever I want to take her out.

Plus, when you are on the third glass the prices don’t seem so bad…

..wait until you see what it costs to insure that house..

House in Phoenix area bought in 1984 for $110K is now valued at over $950K. The Inflation Calculator shows it should be worth $332,508 – real estate is crazy – waiting for the bubble to burst and prices get back to reality.

I live in a rural wine and tourist mecca. I take care of a country estate (Pool, tennis court, miles of hiking trails). I get $50k a year and a 100 year old farmhouse on 3 acres to live in. They also pay for upkeep and improvements on the house. New siding, new roof, paint, updated shop and more. I would love to buy my own house but with fixers starting at $700k plus I can’t afford what I live in. I could move to where I can but then I have to start over at 60 in a new place without all the connections. So I am banking the money I would put on a mortgage and then when I retire maybe I can buy in a new place where I don’t need to know the best tradesmen or where to rent a bulldozer. Or maybe just a nice little apartment close to a bus line.

It’s sounding more and more like they’re not moving.

Its not worth anything till you sell it.

I agree with Janis. For me, it’s getting real now.

My wife and I are lucky, two new homes in 50 years…nice, but really the yard, the neighborhood and the community played more of a role in making us happy. We sold both homes after less than 5 years in each. First one for $45,000 last one for $450,000. Can’t say we missed either when we moved on. Our current house in N Dallas was built in ‘58 on a crawl space, overshaded by two 100’ Oaks on an acre lot in a neighborhood where trees meet in the middle of the street. No crime, grocery store 3/4 of a mile, good restaurants, easy drive to Docs and relatives. Our first home was an old trailer we rented in an run down trailer park in OKC. When I walked from the front to the back the back door would pop open. Rented for ten years later in life when money was too tight to own. Finally Bought our last rental from the two elderly sisters owners. Point is that our two “perfect” new houses weren’t that significantly more wonderful than the significantly older, rougher, smaller homes that we lived in. The places and the time of our life (kids age, jobs satisfaction, general happiness) made the difference. We rented for 3 years in an old neighborhood in Springfield MO. No air conditioning, no garage, wooded yard, $375 a month. Daughters 1st grade was a two block walk every morning down treelined streets. 2blocks the other way was a Baskin Robbins we walked the kids to often at dusk…always an adventure. Groceries a block away. A very satisfying home that had little to do with the house.

Besides what you lose on paying the broker fees, your property tax rate gets set on your purchase price, which depending your state, may be capped much lower on your existing home.

All so true, Janis. Makes it hard to move. But remember your current house is worth a whole lot more than you paid for it decades ago.

I bought my ‘78 single wide in 2001 for 12,000. Today it’s worthless. My lot rent is 600 a month.

Barak, “yeah. I mean.” We don’t know what “yeah” means?

Bingo!

Off topic- Is anyone else having issues signing in that when you put email and password in it comes up that you have to verification that you aren’t a computer so then you have to reenter email and password and check box? I have had this the last 2 days and it is annoying, if they want us to verify why don’t they put that box on the page we sign in first instead of having us reenter our information.