You don’t think 39% increases in property values are penalty enough? We fought them last year and got them reduced, but they are going to try to do it again this year.
1 Like
If “penalties” were increased for owners of income generating residential properties that increase would likely be reflected in increased rents.
2 Likes
Oof yeah I have no interest in discussion politics in here. Honestly mostly i’m frustrated by the situation and the barrier to entry for first time home buyers who don’t have 200k+ in cash or 30k over asking laying around has just gotten way too high. Anyway, I’m going to withdrawal from this thread because it just makes me too frustrated and anxious. have a lovely week
I sympathize. I absolutely lucked out buying my house in 2008 right at the tail end of (relatively) easy lending for home buyers but before home values started appreciating as DFW became a corporate relocation destination.
Yeah 
I (and a lot of my peers) were still in college then, or at least in grad school. And had neither the money nor the certainty on what city we’d live in after school. And then when interested rates were down a couple years ago, prices went up, and I know for sure a few of my friends were worried about there jobs enough that they didn’t feel comfortable purchasing. I know for myself, disregarding both interest rates and housing prices, I’m a ‘think through’, ‘weight my options’ kind of person and the idea of having to make a $$$ bid likely over asking 20 minutes after having seen a house gives me soooo much anxiety. Add to that I’m a single individual so I would be trying to buy on just my salary.
That was absolutely not a factor in 2008. Bought my place under asking price after ~90 days on the market and two asking price reductions.
That sounds so relaxing in comparison to every story about buying a home that I’ve heard in the last 3-4 years. 
Our realtor is telling us that homes are sitting now. It’s starting to to turn from a seller’s market, except that the interest rates are going up.
If you don’t have 20% down for a conventional loan you can do 0-5% down through VA, FHA, or USDA loans. Check with your lender as to what they offer. Beware that if you have less than 20% down you’ll need PMI (mortgage insurance) and escrow accounts for the property taxes and insurance.
Just be sure to not stretch your budget to buy the house that way. The escrow amounts will change year after year and if they don’t add on enough to your payment to cover those then the following year may be a sticker shock for you on what your monthly payment jumps. We had that happen once in the early 00s when the payment went up about 100 bucks one year. Ouch.
Not if you’re the (panicking) seller who got a job transfer, and, honestly, just wants to break even so the family can relocate without owing anything.
Somehow in the last mumblemumble years I’ve managed to see both sides, and the simple fact as far as I can tell is people have unrealistic expectations, and we blame “those people” whenever the situation is not in our favor, instead of stepping back to see the bigger picture. I hate using movie references, but this one’s so dead on for so many applications, and this is one of them (I should probably send Ed Solomon, Lowell Cunningham and/or Sandy Carruthers a “thank you!”): A person is smart. People are dumb, panicky dangerous animals and you know it - Agent K
Yeah, screw that. Do whatever you have to do to manage your own money. DO NOT LET THE BANK DO IT. THEY DO NOT CARE ABOUT YOUR FINANCES. Only had to get bit by that twice to learn that I have to pay when they screw up. So yea, buy a home you’ve managed to save at least 20% toward. Then be certain to save up the taxes and insurance payments, just like you’d be paying into the bank every month (IF you were letting THEM hold your $$ instead of keeping it for yourself).
Someone literally want to buy the farm? In Sanger 23 acres of land with a 3,782 sq ft multi-generational home. My grandmother passed away and it took awhile to get it read for market. Looks like we missed the boat on the timing of the homes selling in one hour.
https://www.zillow.com/homedetails/12162-Fm-2450-Sanger-TX-76266/306687958_zpid/
I wish, we couldn’t afford it. And the house is huge. 
We’d love a little place with some land and a shop.
1 Like
An order of magnitude or so beyond my budget for real estate acquisition at this point in time.
1 Like
Do you want to go in halfsies? Be roomies w/me?
A million bucks in Sanger…man. That’s wild.
In my occasional investigations of rural properties, more or less everything within 2 hours of a major metro area that’s at all developable has similar valuation.
2 Likes
Yep, too expensive for us to purchase from my dad, aunt and uncle. They will end up splitting the equity three ways and move somewhere else. My dad will still have a place in Bolivar but development is definitely headed his way. They are expanding the road from a two lane blacktop to a divided four lane road. “Progress Indeed!”
1 Like
2 Likes