.
Been busy all week getting ready to show the house today!

We haven't even shown the place, and we've already gotten several offers, sight unseen! It's a seller's market right now--I bought this little condo back in 1998...and now that we're in what they call a "housing bubble," with the value of homes rising like crazy, it looks like I'm going to take a 30% profit! Finally something is going right around here financially. I'm tired of being broke all the damn time...



But we still have no idea where we're going to live! :O

teller said:

careful capitol gains will kick you in the arse

you might pay through the ass come tax time next year

DORA said:

Unlike stocks, there are no capital gains on homes as long as you live there for a few years.

last i knew it was 5 years


guess you just squeeked by

hon its gonna cost you that much more to buy another place...unless you are down scaling.

Well, we live in an overpriced stuck-up neighborhood. I could get a bigger place than this for less somewhere real. But also I don't think housing prices are gonna stay this high--there's no inflation--it's just the low interest rates that have brought the buyers out of the woodwork. I'm gonna rent for a while until it shakes out some.

Congrats, Teller!

re-finance the house...thats the way to go. make the most of the low interest rates...borrow more ..and then when it all crashes you still got the capitol!

DORA said:

You have live in the place for 2 years.

We're currently in the process of getting our house re-mortgaged.

It's value has gone up from £90,000 to £120,000 in 18 months!!!

By re-mortgaging, we'll be getting enough money to do up the roof, convert the loft and go to florida for two weeks.

Yay!

thats the way to do it!

now theres no way you could be living in london as you would probably wouldn't even have your own roof let alone a loft for £120K.
i'll be renting for a looong time yet!

that's cool Teller ... the price of houses over here is skyrocketing too... i've been looking at what they're going for in our area... and i've had our place valued recently (although i know they can tend to try and overprice) .. but i'd estimate that our house has gone up around 50k in the last 12 months..

Sell,sell, sell!!

1 day on the market and there are already 4 contracts on my realtor's desk.

It's good to be the seller in 2003.

Good for you Teller! I agree perfect timing!
I sold my last one in 7 days and was out in 23! BUT NOW... The packing and headache! ( Better you then me )

The market over here SUCKS! Everyone is selling and nobody is buying. It's a nightmare.

Is this only Santa Cruz? Tons and tons of Silicon Valley people moved up here during the dot.com boom, but now that it's basically over, they can't afford to live here any longer. But no one has any money to live here, either!

My parent's house in Fremont - bought 13 years ago - has just about tripled in value since then, but even if they wanted to sell it, nobody would want to move in.

Damn Bay Area!

We picked the best contract...here goes!

Natsume...sorry about your area--yes, Silicon Valley still has a hangover.

Yep, this is a great time to sell or even buy a house, especially if you're a real estate investor

Congrats Teller, but i think it will change to a buyers market soon. People are losing jobs left and right. It's only a matter of time before the housing market feels it. Who's gonna buy them if they have no job? So you may be getting out at the right time







Get em while they're hot edit
[This message was edited Sat Apr 5 18:16:23 PST 2003 by SuperC]

congrats!