Omaha's housing market

[jaihawk]

Yea if you don’t plan on moving fuck the property value. Nebraska property taxes are a payment in itself.

So true! You have to love when the principal on your loan is only $100k, but thanks to property taxes and insurance in the escrow, your payment is almost $1,200.

 

[Jim14510]

Found this house if anybody is looking at moving to Akron....

1568 Druid Dr, Akron, OH 44321 | Zillow

1568 Druid Dr, Akron OH, is a Single Family home that contains 1888 sq ft and was built in 1972.It contains 4 bedrooms and 4 bathrooms.This home last sold for $188,000 in February 2022. The Rent Zestimate for this Single Family is $2,882/mo, which has increased by $2,882/mo in the last 30 days.

www.zillow.com

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Partially demoed

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BUT where else do you get an indoor inground pool for 219k?!?!

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Water looks muddy. Why make the sides brown?

 

[Faux Sean Callahan]

Think I'm gonna put in an offer on one of the houses I looked at today. As an added bonus, it appears that the current owners are Husker fans, lol. (I live a looong way from Nebraska.) They had a couple little Husker-branded things sitting around like coasters and stuff.

I've already missed on one house I tried to buy. Offered $36k over asking price on that one, apparently that wasn't good enough.

We got one and I actually feel like it is was a fair deal... Which in this market I am ecstatic about.

We offered on one prior and I said after we submitted the offer "if we don't get it it is a good thing".... We didn't get it and the person who got it got it for 50k over asking. Fucking dumb.

 

[BIG TONE SOPRANO]

Wells predicting 8% rates by 2023 lol. Serves this housing market right. #greed

 

[Toe]

We got one and I actually feel like it is was a fair deal... Which in this market I am ecstatic about.

We offered on one prior and I said after we submitted the offer "if we don't get it it is a good thing".... We didn't get it and the person who got it got it for 50k over asking. Fucking dumb.

Yeah, my aim is to be aggressive with offers, but don't be stupid. My offer was toward the high end of the price range of the comps, but not above it. Problem is, if I try and nickle & dime them on the offer, I'm probably gonna end up costing myself more by dragging out the search longer when prices & rates are going up.

 

[redzoner]

Went and looked at a house in Lincoln last weekend. Looked it up on the county assessor site and Dean Callahan was the original owner. It was a little weird.

 

[Baron Winnebago]

Went and looked at a house in Lincoln last weekend. Looked it up on the county assessor site and Dean Callahan was the original owner. It was a little weird.

There isn't a price I wouldn't pay to sleep in the same room where Dean made passionate love to Mrs Dean

 

[Jim14510]

There isn't a price I would pay to sleep in the same room where Dean made passionate love to Mrs Dean

FIFY

 

[Baron Winnebago]

FIFY

It'd be the closest you ever come to a female orgasm Jim

 

[BIG TONE SOPRANO]

It'd be the closest you ever come to a female orgasm Jim

Ha

 

[HCFord1]

House next door just listed for $800k. 3,300 sq ft 3 bedroom. They're trying to act like it's special because Warren Buffett rented it for two years in the 1950s when he started his investment company.

Anyway, hopefully it sells for that because it'd be great news for our property value.

Well apparently they got multiple offers and are under contract. Don’t know the financials but have to imagine they got at least asking if it sold that quickly.

 

[BIG TONE SOPRANO]

If you buy a house without an inspection, you are an idiot. A big one. Just heard a story about a guy having trouble with his panel in the basement and the house about burned down. Soooooo many not up to code places around that need someone to take a look at

 

[Faux Sean Callahan]

 

[HuskerDocCo]

at least omaha isn’t Boulder gbr!

 

[HCFord1]

Missing a whole lotta important information here, but it’s definitely part of the problem.

 

[Faux Sean Callahan]

Missing a whole lotta important information here, but it’s definitely part of the problem.

I would say housing supply is a large chunk of the problem. Couple that with higher demand during that time due to lower interest rates and you have housing prices increasing rapidly.

 

[Toe]

Looked at a house on Friday that checked all the boxes. Ran the numbers and realized that I could've afforded it at interest rates from a few months ago, but at present rates it's just a little higher than I'm comfortable going. Feels bad, man.

 

[cwessel76]

Looked at a house on Friday that checked all the boxes. Ran the numbers and realized that I could've afforded it at interest rates from a few months ago, but at present rates it's just a little higher than I'm comfortable going. Feels bad, man.

I was in the same boat here in DC/Northern VA. It’s disheartening.

My wife and both do well and are upwardly mobile (not RSS wealthy though) but the housing market here is insane. $800-900K for a DECENT home is just too much for us to green light a house like that.

 

[Faux Sean Callahan]

Looked at a house on Friday that checked all the boxes. Ran the numbers and realized that I could've afforded it at interest rates from a few months ago, but at present rates it's just a little higher than I'm comfortable going. Feels bad, man.

Bad thing is if I had to guess we are on the low end of what we will see for the next few years at least.

 

[Toe]

I was in the same boat here in DC/Northern VA. It’s disheartening.

My wife and both do well and are upwardly mobile (not RSS wealthy though) but the housing market here is insane. $800-900K for a DECENT home is just too much for us to green light a house like that.

And the other thing is, at the price it would've sold for just a couple years ago, I could've EASILY afforded that house.

One more place I wanna look at later this week, but I have a feeling it's gonna wind up being another overpriced & under-maintained house. Been seeing a lot of those lately, like they're decently modern (90s) houses, but for whatever reason they haven't been kept up well at all. (Actually makes me feel pretty good about my own housekeeping and maintenance abilities, lol.)

Bad thing is if I had to guess we are on the low end of what we will see for the next few years at least.

Decent chance that we'll end up back in a recession in the next couple years, maybe they'll lower rates again and we can all refinance! Yeah, fat chance...