The house I wanted to buy for $1.2M at <3% in 2020

[Anonymous]

Is now worth $1.85. That is all.

[dies].

[Anonymous]

if it makes you feel any better, houses that were worth $1.8 million in SF in 2018 are now $1.5 million, so maybe there's hope? But it may take awhile.

[Anonymous]

Sorry but nowhere around here has gone up that much since 2020. Nowhere.

[Anonymous]

Anonymous wrote:Sorry but nowhere around here has gone up that much since 2020. Nowhere.

It’s not around here.

[Anonymous]

Anonymous wrote:Sorry but nowhere around here has gone up that much since 2020. Nowhere.

I bet 22207 has.

[Anonymous]

Probably Florida.

But good luck with your $15K annual insurance bill. Which will probably be close to $20K next year.

[Anonymous]

Anonymous wrote:Sorry but nowhere around here has gone up that much since 2020. Nowhere.

DP: Oh yes it has! We're in CA. Purchased Nov 2020. Current street value $2.3M. I know for a fact we could sell today for that much, if not more. I'm being conservative. You can choose to believe it, or not. But thems the facts.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Sorry but nowhere around here has gone up that much since 2020. Nowhere.

DP: Oh yes it has! We're in CA. Purchased Nov 2020. Current street value $2.3M. I know for a fact we could sell today for that much, if not more. I'm being conservative. You can choose to believe it, or not. But thems the facts.

Hit submit too soon. This should say purchased Nov 2020 for $1.218M

[Anonymous]

Anonymous wrote:

Anonymous wrote:Sorry but nowhere around here has gone up that much since 2020. Nowhere.

I bet 22207 has.

Well nothing was really $1.2, but $1.8 new builds are now $2.5.

[Anonymous]

Anonymous wrote:Sorry but nowhere around here has gone up that much since 2020. Nowhere.

I don't know where you live, but houses that were selling for $750-850K in my neighborhood are now selling for $1.1+ Million, so I would not be surprised if OP was talking about an inside the beltway home.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Sorry but nowhere around here has gone up that much since 2020. Nowhere.

I don't know where you live, but houses that were selling for $750-850K in my neighborhood are now selling for $1.1+ Million, so I would not be surprised if OP was talking about an inside the beltway home.

+1, and my neighborhood has seen homes over 1.5m for the first time ever in the last two years.

Though I will say that depending on where you are looking, some houses have done price cuts. If it's a great house in a very advantageous location, maybe not, but I have seen price cuts. And cuts on houses over $1m tend to be more substantial. So there is some hope. Though you can't do anything about rates.

[Anonymous]

Lot of luck. My friend rented till he was 58 and in December 2019 bought a house in Malibu for 2 million now worth 3.5 million.

He was all in stocks and just sold a portion to buy house. He has no mortgage.

[Anonymous]

Anonymous wrote:Lot of luck. My friend rented till he was 58 and in December 2019 bought a house in Malibu for 2 million now worth 3.5 million.

He was all in stocks and just sold a portion to buy house. He has no mortgage.

Sounds like a skilled investor. Not luck.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Sorry but nowhere around here has gone up that much since 2020. Nowhere.

I bet 22207 has.

It certainly has not... not even close.

Median SFH sale price in Aug 2020 for 22207 was $1.25. It is $1.4 now... so pretty typical for the DC area.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Sorry but nowhere around here has gone up that much since 2020. Nowhere.

I don't know where you live, but houses that were selling for $750-850K in my neighborhood are now selling for $1.1+ Million, so I would not be surprised if OP was talking about an inside the beltway home.

Nope. Not even close. No zips anywhere around here have had prices go up 50% since 2020. 30-35% since pre-pandemic (summer of 2019) is pretty typical across the region.