Have I told you how much I hate living in an apartment? What, no? Well I cannot believe that because I really hate it and I usually tell everyone how much I hate it. From the lack of water pressure to the crappy dishwasher and walking up three flights of stairs. I will really be happy to be out of this apartment.
The housing market, she no good for me. She real good for seller. A while back I wrote about a house I wanted to buy only to find out there was a contract signed the day I looked at it. This was the house on a 1/2 acre with a giant antenna in the back yard. It was listed at about $135,000. One might get $130,000 for a house in this neighborhood for that much if it is in absolute pristine condition, this house was/is not.
This house has a flat roof and it had a leak at one point. I would say half the walls and ceilings in the house will need to be replaced. Not to mention pain, carpe, wood root along the outside and kitchen needing remodeled to name a few. Were talking a easy $30 to $40K in work is needed and I think I’m underestimating that number. Yet the house sold for $130,000! Some person, who must be on crack, has more money than sense actually bought that house for near the asking price. I’m guessing that that they would need to sell the house near the $200,000 mark to get their money back.
This hasn’t just happened once, this has happened twice. Another house on the same street in a similar situation. Not nearly as ba, they were asking about $120,00. A little lower but still needed lots of work. I offered $105,000 would go up to $110,00. Someone came in and offered the asking price. It’s insane I tell you. INSANE!
The popular thought is that people from California are selling their homes for a half million dollars. FInding that the Phoenix market is turning into California’s market, they come here where’s it’s cheaper. Thus people have plenty of money to spend more on our cheap houses, even if they need work. What’s $30K when you just made $200,000 on your last house?
As for me, my lease is up 31 October. Seems like a long ways away, but I’m getting worried.