CrownRoyalDaddy
formerly tdoggy57
- Nov 12, 2015
- 4,729
- 2,985
Crazy market that you have to offer over the asking price
Home Buying & Real Estate Thread
- Thread in 'General' Thread starter Started by TYE_The Time Traveler,
- Start date
- Nov 16, 2001
- 3,949
- 1,197
He's not offering that much over asking though. That's normal for a seller's market. If he had to offer $20-40k over asking, then that would be another story.
CrownRoyalDaddy
formerly tdoggy57
- Nov 12, 2015
- 4,729
- 2,985
Yea im not from cali so thats abnormal to me. Im offering 10k below in my area
- Jan 17, 2013
- 7,988
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Yea Cali hot. Folks put they house on the market and within a week they have multiple offers. Drives up the price. Especially where I'm at, everybody from the Bay Area are migrating this way cause it's "cheaper".
- Nov 16, 2001
- 3,949
- 1,197
Real Estate is different from area to area. California typically leads the nation with trends, so if there's a macro trend emerging in California then expect it to hit your area within 6 months.
The Bay Area is a different animal though. It's been a bull market since the dot com bust finished around 2003. If you were able to buy then, you've seen some pretty significant equity appreciation. That and D.C. were the only two areas in the nation that avoided significant price declines from 2008-2010.
- Jun 1, 2011
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Are these 1 bed condo spots that you are offering on for the $400k range? If not then what are they because I have known home prices up there to be a lot more.
I hope you are not just coming in with these above asking offers while there are no other offers on the table.
I hope you are not just coming in with these above asking offers while there are no other offers on the table.
- Jan 17, 2013
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I'm offering on 4 bedroom homes, 1600-2100 sq.ft and if there are no offers then I offer asking. A few I offered I was the first offer. They never countered becuse they got multiple offers for 5-15k over.
- Jun 29, 2000
- 3,027
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yea yall slept on sac, few years ago they were much cheaper. now they at $400K+ speaking of newly built from the ground up though. you still get a phat house and its new.
if you can find a job there, why not. or at least within an hour drive. it seems to be a norm/ok if your work commute is only 1 hour each way lol. heck there are people doing 2 hour commutes each way because of the traffic.
i think what is driving up prices in areas that one would never have thought is because people drive it up. when they make it "ok" to commute from said area.
Mountain House, Tracy area are in the high 400s-500K!!!!! who would've thought that. in 2011 brand new built from the ground up was only low 300s. for phat house 4 bedroom. now those houses no longer new are selling $500K.. i know because my homie did that just recently. he actually made $100K selling last year, if he had waited to sell now, he wouldve made $200K. and most new developments are for sure $500K but a lot of these folks who buy here still commute to SAN JOSE/SF. its a damn 2 hour + commute each way because of traffic.
you know that train that got derailed, it passes through mountain house i believe. one of the guys they interviewed was on that train, lives in mountain house, worked somewhere in the south bay.. as a SOFTWARE ENGINEER.. i was like BRUH, if you need to be a software engineer to buy in mountain house/tracy.. no hope for me
its still crazy though paying $500k. esp on an mortgage that requires pmi, and not even 20% down. after property tax, how much is your monthly payment still, $3000?
if you can find a job there, why not. or at least within an hour drive. it seems to be a norm/ok if your work commute is only 1 hour each way lol. heck there are people doing 2 hour commutes each way because of the traffic.
i think what is driving up prices in areas that one would never have thought is because people drive it up. when they make it "ok" to commute from said area.
Mountain House, Tracy area are in the high 400s-500K!!!!! who would've thought that. in 2011 brand new built from the ground up was only low 300s. for phat house 4 bedroom. now those houses no longer new are selling $500K.. i know because my homie did that just recently. he actually made $100K selling last year, if he had waited to sell now, he wouldve made $200K. and most new developments are for sure $500K but a lot of these folks who buy here still commute to SAN JOSE/SF. its a damn 2 hour + commute each way because of traffic.
you know that train that got derailed, it passes through mountain house i believe. one of the guys they interviewed was on that train, lives in mountain house, worked somewhere in the south bay.. as a SOFTWARE ENGINEER.. i was like BRUH, if you need to be a software engineer to buy in mountain house/tracy.. no hope for me
its still crazy though paying $500k. esp on an mortgage that requires pmi, and not even 20% down. after property tax, how much is your monthly payment still, $3000?
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- Jan 19, 2002
- 23,430
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5k over is not a big deal, don't lose a house you really want over 5k.
We all want the best deal possible, but in the grand scheme of things, 5k is nothing on a 400k house
A few years ago I got so frustrated after putting bid after bid after bid, that it was just easier to give a few thousand more than deal with so many no's and prices continuing to climb
We all want the best deal possible, but in the grand scheme of things, 5k is nothing on a 400k house
A few years ago I got so frustrated after putting bid after bid after bid, that it was just easier to give a few thousand more than deal with so many no's and prices continuing to climb
- Jun 29, 2000
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willie mcfly22
you looking in fairfield area right? you always getting outbid on OLD homes over $400K, why not just buy BRAND NEW, no need to deal with getting outbid. if you qualify and can afford it, you aint have to deal with chinese investors buying you under using full cash payments.check out dixon, its like 20 mins from fairfield, 15 mins from vacaville
http://brookfieldnorcal.com/neighborhood/san-francisco-bay-area-homes-dixon-cottages-at-parklane/
i believe the cheapest model they have is like $376K, you good sir.
if you buy there, your welcome lol invite me to the house warming
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- Jan 17, 2013
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eugenile gts
yea man the outskirts Bay Area towns housing market is healthy because people from the bay gettin more bang for their buck. I saw that train derailment thing too and most folks was commin from San Jo going home to Tracy. I was like man, it's gettin crazy! It's people in Sac workin in SF too lol...
- Jul 22, 2012
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Do you want to stay in Fairfield? I'm sure you have, but what about the new development along Peabody and Leisure Town Rd? I know it's Vacaville, but Fairfield is right there?
What part of Fairfield were you looking? Paradise Valley? Laurel Creek?
I've been eyeing on moving back home to Fairfield...But I'm not sure if it would be the best decision for my family. Relocating back to West Sacramento has made me re-consider settling down in this area for good.
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- Jan 17, 2013
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Pretty much FF or VV. For FF Mainly looked in laurel creek area or neighborhoods off Oliver RD. But we actually have an offer accepted on a house in Vacaville. Jus have to wait on the appraisal which is scheduled for Tuesday...
I would have looked in west sac for sure but my lady didn't want to commute from there to Fairfield everyday...
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- Jul 22, 2012
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Nice! Hoping that everything goes through for you!
- Jan 17, 2013
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Thanks bro...
- Jun 1, 2011
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Exactly what part of the bay is this where you can buy a 4bd home for $400k? I need to know.
- Jun 29, 2000
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he mentions vacaville/fairfield area. is that still the bay? im only a south bay dude, so i dont know what the folks up there consider the bay still or not.
i also added:
check out dixon, its like 20 mins from fairfield, 15 mins from vacaville
http://brookfieldnorcal.com/neighborhood/san-francisco-bay-area-homes-dixon-cottages-at-parklane/
i believe the cheapest model they have is like $376K, you good sir.
if you buy there, your welcome lol invite me to the house warming
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lightweight champion
Banned
- Jun 23, 2007
- 13,481
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My coworker bought a home there a few months ago for $384k. Brand new homes and all but the neighborhood isn't for me. It's not ghetto, it's country. There isn't anything in quiet old Dixon, except Cattleman's.
check out dixon, its like 20 mins from fairfield, 15 mins from vacaville
http://brookfieldnorcal.com/neighborhood/san-francisco-bay-area-homes-dixon-cottages-at-parklane/
i believe the cheapest model they have is like $376K, you good sir.
if you buy there, your welcome lol invite me to the house warming
Two brand new neighborhoods in Fairfield on opposite ends of the town. West bound Symphony homes start at high $400k and the East bound Gardens neighborhood I think start at $600k. Is this seriously what Fairfield has become? It's not even the Bay Area.
- Apr 28, 2010
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speaking on commute, one of my bros on my jobsite is driving from Dos Palos to Cupertino EVERYDAY.
- May 23, 2005
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Not to be all in ur business
But how much a year do you and ur lady make combined a year
Me and my girl combined make a lil over 100k combined
Basically 50/50 minus her like $2-$3000
But I'm not even sure if that's enough for a fha loan
I have a lil over 21k saved
I'm just getting my things in order to start the process of tryna get that loan
Hopefully I make at least the required amount
lightweight champion
Banned
- Jun 23, 2007
- 13,481
- 5,271
$21k saved is much better than most people I come across. You're ahead of a number of people. That's 3.5% of $600k so I guess you can gues into a pretty ritzy home 
- Jun 1, 2011
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$21k saved is much better than most people I come across. You're ahead of a number of people. That's 3.5% of $600k so I guess you can gues into a pretty ritzy home
Gotta factor in those closing costs too unless your agent is savvy enough to get the seller to pay for them. Also you must factor in their DTI and if those payments are affordable especially a $600k loan and also if they impound the taxes n insurance.
- Jul 29, 2012
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Ultimately, the lender will decide how much you can afford, just because you have 3.5% of 600k, doesn't mean you can afford a 600k property. Off top guesstimate, you're looking at a payment of ~4k/month.
- Jan 17, 2013
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I think it came out to like 98k combined. I believe we slid in right under the income limits for our area for FHA. We over qilualified for grant money which is basically the down payment assistance but looks like you don't have to worry bout that...
- Mar 14, 2006
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Wife has me looking into houses here in Pittsburgh because she's so eager to buy 
I get it'd be much cheaper than paying rent but I know that the market here isn't a buyers market so if and when we decided to move, we'd either have to struggle trying to sell or rent it out. On top of that, the property taxes here are crazy, $3000+ for a home valued at or around $60k
I get it'd be much cheaper than paying rent but I know that the market here isn't a buyers market so if and when we decided to move, we'd either have to struggle trying to sell or rent it out. On top of that, the property taxes here are crazy, $3000+ for a home valued at or around $60k
