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originally posted by: ClovenSky
a reply to: schuyler
I heard a really interesting strategy from local municipalities for property taxes. Maybe it was from here but it goes something like this: They quietly lower the mileage rates and then increase people's home values across the board. Most taxpayers don't fight the municipality because their overall tax bill is pretty much the same, so they never fight the increase in their assessment. Then once the city has all of the assessed property values increased into the statosphere, they slowly increase the mil rate and the home owners have no recourse.
clever bast*rds
originally posted by: schuyler
Yup. The house next door to mine--same builder, appx same size, sold for just under $1 Million in less than ten days. All this does is raise my property taxes. Sure, I could sell and have nearly a million bucks, but where would I live? Unless my wife and I are willing to move to a cheaper state (She isn't) I get to stay here.
glad my house was paid off when we bought it
the real estate market was hot in 2018, the kind of activity that keeps Realtors and homebuyers hopping well past the busy spring and summer seasons and into the historically slower times of fall and winter. “What I’m hearing from my agents is that they’re as busy now as they were in July,” Erica Wirtala of the Northwest Montana Association of Realtors said. “I’m sure there are some out there that are slowed up, but the ones really hustling are still busy and doing well.” Homes in the $200,000 to $300,000 price range sold the most in 2018, a demand that lines up with a growing population in Flathead County. Richard Dews, CEO of Glacier Flathead Real Estate, charted real estate activity in 2018, and the data showed a decline in less-expensive home sales, while higher-end purchases are picking up speed. According to Dews, 240 homes between $200,000 and $249,000 sold in 2017, whereas in 2018, that number dropped to 200. Properties listed for more than $450,000 saw an increase in sales of anywhere between 15 to 50 percent over 2017 depending on the price range. The less-expensive homes also sold much faster than the other units on the market. Dews’ research showed that anything priced for less than $200,000 in Kalispell is typically under contract within 10 days, and anything priced for less than $300,000 is gone within 20 days. In Whitefish, homes priced between $200,000 and $350,000 tend to sell within three weeks. At the low end, these homes cost about $240 per square foot. Columbia Falls is also experiencing quick sales for the less-expensive homes, according to Dews, typically running about $160 to $170 per square foot for this price range. Bigfork can have homes on the market for $125 to $150 per square foot, but those priced near $500,000 range from $170 to $185. With plenty of activity happening in most price ranges, Wirtala said NMAR is paying attention to the national slowdown in home sales and builds. “Here in the Flathead we haven’t seen quite a dip like the rest of the nation has,” Wirtala said. “We’re usually about six to eight months behind national trends.” One aspect that will change for homebuyers in 2019 is mortgage rates, which were at historic lows during the recession and below average in the following years despite economic growth. In 2012, the interest rate on a 30-year fixed-rate mortgage hit 3.31 percent. In 2019, the same rate is expected to hit 5.8 percent.
This house in Atlanta was sold three times in one year, a
sign of exploding investor interest in starter homes that is
reshaping the nation’s housing market and driving up prices.
originally posted by: Starhooker
And Hershey bars used to be a nickel. Materials are more expensive and cheaper in quality. Im in the the field of new construction and it's not our fault. You want a cheap house or an addition built? Hire illegals and fail the inspections. Get what you over pay for.buy materials from China that won't last, hire the guys at home depot and get no warranty, and then complain about the sewage leak and the calls you make that never get answered. Low budgets plus big dreams equals shoddy work and unhappy white collared folks who wonder why the basement smells like sh@t.
originally posted by: olaru12
All the contractors, builders and real estate people, know the bubble is about to pop again and are maximizing profits while they can. In my small village there are Asian investors buying up everything including unimproved acreage and trailer houses. And every day I get multiple calls asking if I want to sell my acreage in Texas; when I get the offer I want, I'm selling.
originally posted by: ClovenSky
a reply to: schuyler
I heard a really interesting strategy from local municipalities for property taxes. Maybe it was from here but it goes something like this: They quietly lower the mileage rates and then increase people's home values across the board. Most taxpayers don't fight the municipality because their overall tax bill is pretty much the same, so they never fight the increase in their assessment. Then once the city has all of the assessed property values increased into the statosphere, they slowly increase the mil rate and the home owners have no recourse.
clever bast*rds
originally posted by: Edumakated
There are a number of factors as to why housing is so expensive in many areas.
First, it is simple supply and demand. Areas with good jobs, good schools, commuting times, amenities, etc will be more expensive and desirable.
Second, mortgage financing has inflated prices. People are able to finance larger purchases and this has driven up prices.
Third, builders are only building luxury homes. The cost of land, regulations, permitting, etc make it nearly impossible to build cheap houses so it is easier to build more expensive homes.
By in large, real estate is a good long term investment. Once you lock in a rate and price, you are protected from inflation. I bought my house about 15 years ago. A house is a forced savings account. You pay the mortgage off and you are left with an asset that is usually worth more than you paid. In addition, you are protected from inflation. Your mortgage payment will stay the same even as costs increase around you.