California-style real estate appreciation in brush country

[HFWR]

Prices/assessments here in Stepfordville (Collin Co, NE burb of Dallas) are rising, after about 15 years of going nowhere. Taxing authorities are making a killing; rates up 20% in two years.

 

[Retch The Grate]

Any place where you have to have a septic system and a well , is flyover country to this city girl. They probably don't even have high speed internet out there.

Living in Connecticut as a kid we had a septic system and a well. Pretty sure it didn't count as flyover country in any way shape or form.

 

[Retch The Grate]

You don't have a California-style RE market until a median household making $100K/year could not afford an apartment with a median rent of $4400/month. And that was in 2016, according to the PBS piece below.

In the same video, they described a programmer working at Google who decided to live in a box van to save money. He made $175K.

One of my dear friends has mostly retired (he takes random contracting jobs when he feels like it, for ridiculous amounts of money) and lives in a fairly nice van. He's enjoying the lifestyle, and even when he's not working the rent on the place he owns here in the bay area, covers his living expenses. The random contract software engineer work is just icing on the cake.

 

[NW-Bound]

Living in a small RV is OK for a single guy, provided you have a nice place to park other than on a city street.

About the median apartment rent of $4400/month in MountainView, a home rent would be higher. Out of curiosity, I checked and a 4-br home of 2,000-sq.ft. goes for $7,250/month. Add utility cost to that, and it's $90K/year to rent a home.

 

[brewer12345]

Why do people from Wyoming want to move to Idaho?

I can't imagine why...

 

[ownyourfuture]

deja vu all over again ?

 

[brewer12345]

deja vu all over again ?

Starting to look that way. OTOH, as far as I know the crazy lending that served to fuel the last bubble's inflation hasn't been a factor yet.

 

[ncbill]

Prices/assessments here in Stepfordville (Collin Co, NE burb of Dallas) are rising, after about 15 years of going nowhere. Taxing authorities are making a killing; rates up 20% in two years.

The above is my biggest concern - outside of California most states don't have strict limits on the rate of increase on property taxes on residential property.

The very nice home where I grew up recently sold for 3x what mom got for it 30 years ago, but taxes on that property are now over 5x what she paid.

 

[Retch The Grate]

Living in a small RV is OK for a single guy, provided you have a nice place to park other than on a city street.

About the median apartment rent of $4400/month in MountainView, a home rent would be higher. Out of curiosity, I checked and a 4-br home of 2,000-sq.ft. goes for $7,250/month. Add utility cost to that, and it's $90K/year to rent a home.

We are renting a 3br/2ba house in MV for $4150 a month at the moment. Only 1104 sq. feet however.

 

[Breedlove]

.Everyone talking about real estate prices and where people want to live . In May a friend of ours sponsors an archery contest here in Texas . people come from all over it seems to be a growing hobby.
They were asking one of the guys about going hunting on his land this winter . It has been an annual event for a few of the bow hunters.
The property owner explained he just sold his land in March . His ranch backed up against the Rio Grande in So Texas . He said four guys came to him and his wife one evening and told them they were buying their ranch . He said he told them it was not for sale . They knew exactly how much land , the value and what it would take to buy his ranch . He said they gave him an envelope with some cash and told him to go to an attorney in another small town and the attourney would take care of the closing . He said he made out well and now lives in Katy near his kids . No deer hunting .

 

[REWahoo]

The property owner explained he just sold his land in March . His ranch backed up against the Rio Grande in So Texas . ...He said they gave him an envelope with some cash and told him to go to an attorney in another small town and the attourney would take care of the closing.

Yep, those cartels need a good place to dig their tunnels for product distribution.

 

[Breedlove]

Yep , someone said this too but he told us they don't go through tunnels they just come across and a pickup truck is waiting for them . For years he said they hunted the land when they seen people coming through the ranch he said they would throw their arms up and go back to the house. Texas is changing.

 

[Chuckanut]

Interesting article in the WSJ about a week ago. It seems that housing in desirable small and medium sized towns and cities is not keeping up with demand since builders are not building many new homes. The high cost of materials makes building starter and more ordinary unprofitable. The big ones are where the money is.

Alas, this problem is discouraging people from taking jobs in the above towns.

 

[Breedlove]

To build a house in a small town or rural area is a nightmare . Nobody there to work .

 

[Red Badger]

1. The population of the USA is increasing.
2. The population of Texas is increasing.
3. Builders are building fewer houses than expected.
4. Builders are typically building houses at the higher (more profits) end of the market.
5. The greater Austin market has been and still is going crazy.
6. Everyone has jobs.

+1.

Classic demand based, seller's market.

Charlotte and burbs hot as well. Neighbor sold her house for asking price in 5 days.

 

[kite_rider]

You don't have a California-style RE market until a median household making $100K/year could not afford an apartment with a median rent of $4400/month. And that was in 2016, according to the PBS piece below.

In the same video, they described a programmer working at Google who decided to live in a box van to save money. He made $175K.

I think 'Brandon', the Google employee who lives in the box van, is well on his way to be FIRE'd.

I've got mixed feelings about this new trend. I frequently stay in my campervan and wouldn't have it any other way. When I visit the bay area (California), it's about the only place where I can comfortably stay.

On the other hand, the number of people living this way in and around Bend has exploded in recent years. Most keep their vehicles somewhat clean and functional. Some however are just building massive trash heaps that really are a threat to the community not to mention an eyesore. The one that displeased me the most was a shanti-town community built along the relatively new 'radlands' bike/hike trail near Redmond, OR. Some of the RV dwellers decided to employ really mean pit bull type dogs as a way to make them feel safer I guess. It's no fun when you're riding this trail (which I helped build as a volunteer by the way) and then dodge and run from these mean dogs that come bonding out of the trash heaps or abandoned cars along the way... Some are chained up, some aren't; scary either way..

 

[Breedlove]

Remember in the late 1970's early 1980s so many people were moving to Houston . One of the companies I worked for had a guy with a 1968 Chevy II that he built a box on top of it and slept in the little box . He joined a gym and showered and stayed there till late at night where he would retreat to his box . Everyone called him Snoopy . He probably FIRE early in life . He was from WVA

 

[FI_RElater]

I think 'Brandon', the Google employee who lives in the box van, is well on his way to be FIRE'd.

I've got mixed feelings about this new trend. I frequently stay in my campervan and wouldn't have it any other way. When I visit the bay area (California), it's about the only place where I can comfortably stay.

On the other hand, the number of people living this way in and around Bend has exploded in recent years. Most keep their vehicles somewhat clean and functional. Some however are just building massive trash heaps that really are a threat to the community not to mention an eyesore. The one that displeased me the most was a shanti-town community built along the relatively new 'radlands' bike/hike trail near Redmond, OR. Some of the RV dwellers decided to employ really mean pit bull type dogs as a way to make them feel safer I guess. It's no fun when you're riding this trail (which I helped build as a volunteer by the way) and then dodge and run from these mean dogs that come bonding out of the trash heaps or abandoned cars along the way... Some are chained up, some aren't; scary either way..

I’ve helped clean up some of the BLM land in the area, and you really don’t want to see the messes that are left by some. I don’t know about any problems in Dry Canyon, in town, but there’s been a problem out near Negus and out east on Antler where the police have kicked out large contingents camping out there
(recently have seen some north of Redmond off Canal; don’t know why they haven’t been moved out)

 

[kite_rider]

I’ve helped clean up some of the BLM land in the area, and you really don’t want to see the messes that are left by some. I don’t know about any problems in Dry Canyon, in town, but there’s been a problem out near Negus and out east on Antler where the police have kicked out large contingents camping out there
(recently have seen some north of Redmond off Canal; don’t know why they haven’t been moved out)

Funny that you brought those areas up. The story made the front page of the paper this morning.

https://www.bendbulletin.com/

 

[FI_RElater]

Funny that you brought those areas up. The story made the front page of the paper this morning.

https://www.bendbulletin.com/

what can I say... (oh yeah, I’m a local now)

bend has fewer areas that the long term use, like the RV’ers off Hunnell, the tent camp off the Revere exit of 97, the “interesting” group parked at the south end of Wallyworld off Badger and a couple of other areas...
(I think Sisters chases any away from the area, but I wouldn’t be surprised to see some off Pine St north of town where it turns to BLM a few miles north)