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Forum » If you pay more than the asking price for a house, then you are an absolute potato
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Thread: If you pay more than the asking price for a house, then you are an absolute potato

post 1642346093 07-07-2021, 12:40 PM
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  1. lockdev
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If you pay more than the asking price for a house, then you are an absolute potato

ded fuarkin srs.

Might as well let Remy the Realtor lube up you and your wife's balloon knots and let him take turns on you.

Cliffs: If a realtor says "bids due by xx/xx date", get the fuark out of there. Don't join the idiot parade with the other room temperate IQ morons.

in b4 salty bag holders
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post 1642346573 07-07-2021, 12:46 PM
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Going to be funny watching thousands of FOMO buyers hold the bag on an illiquid asset they have to spend 30 years paying for lmao


Going over asking is fine IF you can afford it. Truly afford it, not “bank said I could”.

Can you comfortably put down 20% of the housing down payment? Is the total expense of the house (including repairs and utilities) 30% of your gross income or less? Have $10% of the house value left over for emergency repairs that will happen?

Then congrats you can afford it. Instead most Americans get paraded around by the real estate agent and their bank, and end up having the house own them instead of the other way around
post 1642346623 07-07-2021, 12:47 PM
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I fully agree OP, going to be a lot of people upside down on their mortgages in a few years.
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post 1642346653 07-07-2021, 12:47 PM
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Right...because the average buyer has the ability to control the market. Right now if you dont pay it, somebody else will.

As a whole, the market should rebound b/c people (as a market) should be saying F that.....yes rates are great right now, but what the fuk is the point of getting 1.99% when you're paying 40k over asking on an asset that is currently sitting on an inflated value.

I bought almost exactly 1 year ago and my house is currently sitting at 30k over what I paid (which at the time was $5k under appraisal) and I could probably expect 20k over that in bids judging by the market in this area .....Thought about selling, invest the profit, rent an apartment for a few years, then buy again when the bubble pops....but nah. I like my house/area.
post 1642346823 07-07-2021, 12:49 PM
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Originally Posted By bsmit107⏩
Right...because the average buyer has the ability to control the market. Right now if you dont pay it, somebody else will.

As a whole, the market should rebound b/c people (as a market) should be saying F that.....yes rates are great right now, but what the fuk is the point of getting 1.99% when you're paying 40k over asking on an asset that is currently sitting on an inflated value.
true dat

waiting for that dere crash/normalization
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post 1642347103 07-07-2021, 12:53 PM
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You will pay over asking, no subjects, site unseen.

Or you wont get the house.


Thats reality for most in my area.




Its a sellers market.
post 1642347113 07-07-2021, 12:53 PM
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Originally Posted By rocketfish⏩
true dat

waiting for that dere crash/normalization
in b4 crash never comes
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post 1642347523 07-07-2021, 12:58 PM
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Originally Posted By bsmit107⏩
Right...because the average buyer has the ability to control the market. Right now if you dont pay it, somebody else will.

As a whole, the market should rebound b/c people (as a market) should be saying F that.....yes rates are great right now, but what the fuk is the point of getting 1.99% when you're paying 40k over asking on an asset that is currently sitting on an inflated value.

I bought almost exactly 1 year ago and my house is currently sitting at 30k over what I paid (which at the time was $5k under appraisal) and I could probably expect 20k over that in bids judging by the market in this area .....Thought about selling, invest the profit, rent an apartment for a few years, then buy again when the bubble pops....but nah. I like my house/area.
And 14 years ago I bought a house for $30k under asking and at the lowest after the crash was worth 50% what I paid for it.

People are selling right now because they know this is the best time to get the most value. I have no Idea why people are willing to pay the rediculus prices.

I rented at the peak housing market in 2005 and it was a new home. My rent was $1600/month and she paid $650K for the house. The house is currently worth $625K. This is what people that buy now are going to look forward to in 15-20 years. I'm suprised my house is worth more than I paid for it right now.

When BOTH renting and buying houses are near unaffordable, bad **** is going to happen.
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post 1642347533 07-07-2021, 12:58 PM
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Ive noticed that the FOMO is real with my age group and houses, some are downsizing their expectations and getting less house but the majority are bidding over what its worth and then some. I had a bud who bid 450k on a house (400k asking) that would normally be 300-350k just 2-3 years ago. His reasoning is that he is having a kid soon and that he needed a house. Its not like you cant raise a kid in an apartment or rental. I asked him if he thought about waiting but he said that the wife was gun-hoe about it, sheneededa nursery for the baby to be. All the other people who bought are doing it for "investment" reasons and that they think they are going to flip it in the next couple of years for goo-goo money. If I found the perfect house in a perfect location for a reasonable price I would think about buying, Id look at it as a 20+ year home and not an investment vehicle. However, since everything is in such a frenzy right now the "reasonable price" aspect is thrown out the window.
post 1642347573 07-07-2021, 12:59 PM
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Originally Posted By AlwaysFocus⏩
You will pay over asking, no subjects, site unseen.

Or you wont get the house.


Thats reality for most in my area.




Its a sellers market.
Location: Canada

The Chinamen have been running your real estate market for quite some time.

Sorry for the loss of your country brah
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post 1642347703 07-07-2021, 01:00 PM
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Originally Posted By lockdev⏩
Location: Canada

The Chinamen have been running your real estate market for quite some time.

Sorry for the loss of your country brah
sucks mane
post 1642347743 07-07-2021, 01:00 PM
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the asking price here is already 1.1 million overpriced
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post 1642348713 07-07-2021, 01:12 PM
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Just lol @ first time home buyers jumping in the market right now.
post 1642349053 07-07-2021, 01:15 PM
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  1. rocketfish
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Originally Posted By solidus2k3⏩
in b4 crash never comes
then we fuked for life
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post 1642349453 07-07-2021, 01:20 PM
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Originally Posted By lockdev⏩
ded fuarkin srs.

Might as well let Remy the Realtor lube up you and your wife's balloon knots and let him take turns on you.

Cliffs: If a realtor says "bids due by xx/xx date", get the fuark out of there. Don't join the idiot parade with the other room temperate IQ morons.

in b4 salty bag holders
It’s all going to blow up and make 2008 look like child’s play. People are signing for 100,000 more than they can afford and waiving inspections for houses that are located in complete ****holes, or that have no economic opportunity. Wait till liberal Ashley and Brad realize that the nearest Whole Foods and spa is 50 miles away and their neighbors are shooting guns all the time. But muh “work from home flexibility,” just wait until micromanaging bosses decide that they’re not going to put up with that anymore and demand all the drones return to the office 150+ miles from where they live now in their overpriced house. Gotta have that job though wagie so you can make those outrageous mortgage payments! Not to And that’s all predicated on the economy not failing due to inflation. It’s going to be a bloodbath if that happens.
post 1642349663 07-07-2021, 01:22 PM
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Explains the millions moving to my area in TX. All houses in my area are going for ~$100k over asking.
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post 1642349783 07-07-2021, 01:25 PM
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Originally Posted By Anachron⏩
Just LOL if you don't devalue the entire street before putting in your offer.
Legit lol'd
post 1642349903 07-07-2021, 01:26 PM
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We paid ask for our house 4 months ago (it appraised for the same) and got $15k back at the closing table to cover a total roof replacement. (No leaks, just old).
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post 1642350023 07-07-2021, 01:28 PM
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Originally Posted By AlwaysFocus⏩
You will pay over asking, no subjects, site unseen.

Or you wont get the house.


Thats reality for most in my area.


Only for idiots. Imagine buying some dump that some lazy boomer owned for 40 years, sight unseen and then realizing it has a cracked foundation and an asbestos roof. There’s you 35,000 on top of the 100,000 too much that you already paid! Now you could have bought 2 houses if you had just waited it out and not been a fool. Can’t wait though, gotta be able to flex on ******** and the ‘gram about how you’re “making it”
post 1642350613 07-07-2021, 01:36 PM
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Originally Posted By FastBack6⏩
Only for idiots. Imagine buying some dump that some lazy boomer owned for 40 years, sight unseen and then realizing it has a cracked foundation and an asbestos roof. There’s you 35,000 on top of the 100,000 too much that you already paid!
Strong this.

It's the "must buy now no matter wat" people leading this idiot brigade.

I can't believe people are waiving home inspections and appraisals. This is going to bite so many people in the arse cheeks.

"Don't let your emotions guide your decision" - real estate agents

"ZOMG! You must bid to win, no contingencies, no inspections, no appraisals, pay as much as the bank will give you" - also real estate agents
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post 1642350623 07-07-2021, 01:36 PM
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post 1642350723 07-07-2021, 01:37 PM
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Some areas will continue to see home prices rise no matter what. Not to mention the rates. Rates a few years ago were double what they are now making the payment essentially the same.
I probably banged your mom.

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post 1642351133 07-07-2021, 01:42 PM
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post 1642351653 07-07-2021, 01:49 PM
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Originally Posted By OT2000⏩
Some areas will continue to see home prices rise no matter what. Not to mention the rates. Rates a few years ago were double what they are now making the payment essentially the same.
This right here.
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post 1642351763 07-07-2021, 01:51 PM
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Would rather overpay than be a rentcel
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post 1642352053 07-07-2021, 01:55 PM
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It's weird that people don't understand trying to buy right now.

We're potentially facing unprecedented inflation. Our currency could be devalued so much that suddenly "overpaying" by 20% will seem like a bargain.

There's no reason to believe this "bubble" is in fact unsustainable.
post 1642352273 07-07-2021, 01:58 PM
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Dont sell your house, it goes straight to china
post 1642352303 07-07-2021, 01:59 PM
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Originally Posted By lockdev⏩
ded fuarkin srs.

Might as well let Remy the Realtor lube up you and your wife's balloon knots and let him take turns on you.

Cliffs: If a realtor says "bids due by xx/xx date", get the fuark out of there. Don't join the idiot parade with the other room temperate IQ morons.

in b4 salty bag holders
Who was appraisal price? Asking price doesn't matter
post 1642352483 07-07-2021, 02:02 PM
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Originally Posted By BigBallsMcgee⏩
Who was appraisal price? Asking price doesn't matter
Who needs appraisals when you're removing the contingency?

Bag holders gonna bag hold.
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post 1642352613 07-07-2021, 02:04 PM
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Originally Posted By Dan_S⏩
It's weird that people don't understand trying to buy right now.

We're potentially facing unprecedented inflation. Our currency could be devalued so much that suddenly "overpaying" by 20% will seem like a bargain.

There's no reason to believe this "bubble" is in fact unsustainable.
And guess what massive inflation will do?

Kill employment

Companies aren’t going to start paying their 50,000 a year employees more just because money isn’t worth what it used to be. They’ll close up, outsource all of their jobs overseas, and that’ll be it for the economy. How are all those people going to pay for their houses then? Wage stagnation is real and with massive inflation it will get wayyy worse
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