looking at houses to buy. went to an open house yesterday on this little fixer upper. asking $320,000 for a 2 bedroom shitbox. serious fixer upper. I saw water stains on the skylight. I ask the realtor about insulation and he says "I don't know. Some of these house have it, some don't. You know they threw these things up quickly in the 70s..." There's a leak from the dishwasher. 15 year old hotwater heater. 2 closets. ancient forced hot air system. 25 year old roof. very small yard needs to be completely graded and re-fenced. no attic, no basement. I've lived here a minute and my friends bought houses here because it was cheap and decent. so I'm thinking to myself as I walked around "this is a $200k house tops." Shit last sold for $200,000 in 2019. House needs at least $50k in work to make it nice, so then after closing costs and repairs, if it did even sell for $320k, it's a $400,000 2 bedroom in a not great but not awful neighborhood. What kind of bullshit is that?
Was talking to my buddy who lives in a very, very nice house up the street from there, in fact, off the same street. Bought in 2018 and he said the asking price was 325,000- for a nice big 2 story house, 4 bedrooms, last on a dead end, with a fenced yard, hot tub, deck, etc. Said they got it for far less because it "needed some work." In 2018, we were all saying $300k plus for a house in Humboldt was too much. Then comes Covid and motherfucking people moving in from all over creation or swooping everything up and renting it out at 2x the traditional local rental price to pay their mortgage. Absolutely infuriating.
Fuck this shit. I'm seriously bummed the fuck out.