New Ytest
Sign out
Bimmerpost
Login
BMW E39 5-Series Forum | 5Post.com
BMW Garage BMW Meets Register Today's Posts  
Go Back   BMW E39 5-Series Forum | 5Post.com > BIMMERPOST Universal Forums > Off-Topic Discussions Board

Post Reply
 
Thread Tools Search this Thread
      07-05-2024, 01:05 PM   #23
floridaorange
Colonel
floridaorange's Avatar
United_States
12016
Rep
2,715
Posts

 
Drives: 2013 bmw 320i xdrive
Join Date: Nov 2018
Location: orlando, fl

iTrader: (1)

Not what you want to hear, but perhaps find an air bnb lake house that you both really love and tell the owners you want to reserve it for x # of days each year and have that be your retreat until prices come down - is the safer route. Either way, right now is not a good time to buy unless you find something the rest of the buyers have missed - and those are out there but it’s gonna take a lot of time and patience to find one at the moment it hits the market.
__________________
Stage 2 BM3

Quote:
Originally Posted by GrussGott View Post
Sounds pizzagatey.
Appreciate 1
JMcLellan2668.50
      07-05-2024, 08:55 PM   #24
eliphil
Captain
eliphil's Avatar
2640
Rep
808
Posts

 
Drives: M550I
Join Date: Dec 2021
Location: East Coast

iTrader: (0)

I just found an article on yahoo that suggests the market is about to have a big correction. Look up Chris Vermeulen. He’s talking 30% correction but this is all subjective and conjecture.
Appreciate 1
JMcLellan2668.50
      07-11-2024, 10:09 AM   #25
spazzyfry123
Lieutenant Colonel
spazzyfry123's Avatar
4815
Rep
1,935
Posts

 
Drives: Here and There
Join Date: Jul 2013
Location: North Georgia Mountains

iTrader: (1)

Garage List
Coincidental, somewhat similar conversation. I recently built a house on a few acres we have that we've really been enjoying. A career opportunity popped up that I am seriously considering, but it's a "hybrid" role instead of my 100% remote that I have now. This would expect me to pop into the office maybe two or three times a week at our US HQ which is about five hours away.

We've been flirting with the idea of a getaway spot a few hours away from home for several years, but haven't pursued it because of life and kids and and and. Now I feel like it could be the push to do so, but now I'm looking to make it a hub for work from as well as a "vacation" spot. It would have me away from the family a few days a week and a few hour drive away.

New job would come with full relo - meaning they would buy my existing house, pack it up, move us, cover closing costs on both ends as well as the new purchase, etc. It's a good gig...but we just built this house. Life happens, we understand. Our situation is particular because I went in on the property with my in-laws so that our kids could grow up with their grandparents. So we're stuck between uprooting that and living full time in the new location or getting the "getaway spot" to also use for a work hub a couple/few days a week for me. Wife is stay-at-home.

I also would pull from retirement accounts for some of the purchase should we decide to do the in-addition-to approach rather than full relocation. I hate the idea of it, but I've also got another 30 years of working ahead...

Anyway, no real ask or anything from my side. Just continuing to the conversation and it felt good to type it out
Appreciate 0
      07-11-2024, 10:18 AM   #26
JMcLellan
Lieutenant Colonel
JMcLellan's Avatar
United_States
2669
Rep
1,573
Posts

 
Drives: 2024 M2
Join Date: Mar 2022
Location: MN

iTrader: (0)

Quote:
Originally Posted by eliphil View Post
I just found an article on yahoo that suggests the market is about to have a big correction. Look up Chris Vermeulen. He’s talking 30% correction but this is all subjective and conjecture.
My gut feeling is that housing prices will come down, maybe not everywhere but in some pockets. At some point we will run out of buyers wanting to pay current prices. Even when interest rates come down, I don't think that will hold prices. Overall, with inflation driving prices up on all things at some point more and more people will stop buying stuff.
__________________
2024 M2
2019 M240i- Sold
Appreciate 0
      07-11-2024, 10:24 AM   #27
JMcLellan
Lieutenant Colonel
JMcLellan's Avatar
United_States
2669
Rep
1,573
Posts

 
Drives: 2024 M2
Join Date: Mar 2022
Location: MN

iTrader: (0)

Quote:
Originally Posted by spazzyfry123 View Post
Coincidental, somewhat similar conversation. I recently built a house on a few acres we have that we've really been enjoying. A career opportunity popped up that I am seriously considering, but it's a "hybrid" role instead of my 100% remote that I have now. This would expect me to pop into the office maybe two or three times a week at our US HQ which is about five hours away.

We've been flirting with the idea of a getaway spot a few hours away from home for several years, but haven't pursued it because of life and kids and and and. Now I feel like it could be the push to do so, but now I'm looking to make it a hub for work from as well as a "vacation" spot. It would have me away from the family a few days a week and a few hour drive away.

New job would come with full relo - meaning they would buy my existing house, pack it up, move us, cover closing costs on both ends as well as the new purchase, etc. It's a good gig...but we just built this house. Life happens, we understand. Our situation is particular because I went in on the property with my in-laws so that our kids could grow up with their grandparents. So we're stuck between uprooting that and living full time in the new location or getting the "getaway spot" to also use for a work hub a couple/few days a week for me. Wife is stay-at-home.

I also would pull from retirement accounts for some of the purchase should we decide to do the in-addition-to approach rather than full relocation. I hate the idea of it, but I've also got another 30 years of working ahead...

Anyway, no real ask or anything from my side. Just continuing to the conversation and it felt good to type it out
So I'm not the only crazy one considering pulling retirement money for a real estate purchase? I vote for having a getaway space for some alone time but that's my bias thinking about being around my in-laws like you are
__________________
2024 M2
2019 M240i- Sold
Appreciate 1
      07-11-2024, 10:56 AM   #28
RickFLM4
Brigadier General
RickFLM4's Avatar
United_States
11801
Rep
4,870
Posts

 
Drives: M4
Join Date: Jul 2015
Location: PB County, FL

iTrader: (0)

Quote:
Originally Posted by eliphil View Post
I just found an article on yahoo that suggests the market is about to have a big correction. Look up Chris Vermeulen. He’s talking 30% correction but this is all subjective and conjecture.
Quote:
Originally Posted by JMcLellan View Post
My gut feeling is that housing prices will come down, maybe not everywhere but in some pockets. At some point we will run out of buyers wanting to pay current prices. Even when interest rates come down, I don't think that will hold prices. Overall, with inflation driving prices up on all things at some point more and more people will stop buying stuff.
Someone has been saying there will be a 10% - 30% correction for years. But if it were easy to time the market everyone would do it. I’d sell now, rent for a year or two and buy again. Some who decided to wait in 2021 got quickly priced out. Prices have stabilized from the rapid, unsustainable increases we saw for a couple of years, but prime real estate is always going to command a premium price, cash buyers are ready to jump in if the market shows declines and there is still a shortage of new construction relative to needs.
__________________
Current: 2018 SO/SS F83 ZCP
Gone: 2015 SO/SO F82
Appreciate 0
      07-11-2024, 11:17 AM   #29
chassis
Colonel
chassis's Avatar
7886
Rep
2,484
Posts

 
Drives: 9Y0 Cayenne S
Join Date: Mar 2019
Location: Einbahnstraße

iTrader: (0)

Garage List
Quote:
Originally Posted by JMcLellan View Post
So I'm not the only crazy one considering pulling retirement money for a real estate purchase? I vote for having a getaway space for some alone time but that's my bias thinking about being around my in-laws like you are

When is the closing date on the new residence?
Appreciate 0
      07-11-2024, 11:33 AM   #30
JMcLellan
Lieutenant Colonel
JMcLellan's Avatar
United_States
2669
Rep
1,573
Posts

 
Drives: 2024 M2
Join Date: Mar 2022
Location: MN

iTrader: (0)

Quote:
Originally Posted by chassis View Post
When is the closing date on the new residence?
Ha. We are just looking at listings right now. Haven't gotten past that step. We have noticed the inventory of cabins about 2 to 3 hours from us are starting to stack up. Expecting some stuff to sit for a while and prices to come down as the colder months approach.

Our local lake where we really want to be has nothing on the market right now.
__________________
2024 M2
2019 M240i- Sold
Appreciate 0
      07-11-2024, 12:56 PM   #31
spazzyfry123
Lieutenant Colonel
spazzyfry123's Avatar
4815
Rep
1,935
Posts

 
Drives: Here and There
Join Date: Jul 2013
Location: North Georgia Mountains

iTrader: (1)

Garage List
Quote:
Originally Posted by JMcLellan View Post
So I'm not the only crazy one considering pulling retirement money for a real estate purchase? I vote for having a getaway space for some alone time but that's my bias thinking about being around my in-laws like you are
Good news is the in-laws are great. Bad news is that the in-laws are great.

Appreciate 1
JMcLellan2668.50
Post Reply

Bookmarks


Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT -5. The time now is 02:19 PM.




5post
Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST