Forgive me as I have sinned.. - Page 4

CamaroSSStlfan · 05-06-2021, 10:12 PM

Quote:

Originally Posted by raptor5244

The housing market is crazy as well but if you sell where you gonna go and how much are you going to have to pay. Much easier to unload a car and sell high though if you have something else to drive while the market stabilizes. Smart move if you can wait it out and buy at normal prices.

Basically just like the car market. BUT if you sell your car or house you get more but you pay more to get a new one so basically a wash.

Also depends on the houses too. It seems the affordable ones 500k and under down here go quick. In my county I see those 700 to 2 million dollar houses on the market for months sometimes still. But again that's a VERY small section of the population going for 1 million dollar homes. There are houses right now on Manasota Key that are 2.5 to 4 million dollar range on the beach that have been listed for 6 months now.

raptor5244 · 05-06-2021, 10:19 PM

Quote:

Originally Posted by CamaroSSStlfan

Basically just like the car market. BUT if you sell your car or house you get more but you pay more to get a new one so basically a wash.

Also depends on the houses too. It seems the affordable ones 500k and under down here go quick. In my county I see those 700 to 2 million dollar houses on the market for months sometimes still. But again that's a VERY small section of the population going for 1 million dollar homes. There are houses right now on Manasota Key that are 2.5 to 4 million dollar range on the beach that have been listed for 6 months now.

Yeah, low interest rates aren’t going to sell those expensive houses. Buyers for homes in that price range need to have some cheddar.

CamaroSSStlfan · 05-06-2021, 10:34 PM

Quote:

Originally Posted by raptor5244

Yeah, low interest rates are going to sell those expensive houses. Buyers for homes in that price range need to have some cheddar.

I suspect "some" of those houses I mentioned that are 3 million the buyers pay cash for since they're multi millionaires and probably have 6 million sitting in their bank accounts. A house I've seen listed there for awhile now is 3.5 million and property taxes are $11,000 a year. I would think insurance is a lot too and would have to go through Citizens and FEMA to get coverage since it's on the beach.

If you're a specialist doctor and in your early 50s you could easily afford a house like that.

I also wonder with super cars like Lambos, Ferrari, etc. How many take loans on them or pay cash. I know in the crash of 2008 a lot of them got repoed so maybe more finance those cars than we think or they don't have a lot of money.

supercab78 · 05-07-2021, 06:30 AM

Quote:

Originally Posted by Yang N’ Bang

I’m kinda in the same boat, got an offer that’s more than what I paid 2 years ago that is extremely tempting as it would put enough cash in my hand to completely finish my 73 camaro that’s been an ongoing project for years now and do everything that I wanna have done at once (including dropping in a 572), but I just dont know, I do have attachment to my SS and think I would regret letting it go, especially with how good they look together...

Is that a Nomad I see back there? I'd say do it also! Although the 73 looks drivable as is.

Petrol Head · 05-07-2021, 06:41 AM

Quote:

Originally Posted by jamala00

Farmer you trying to recruit people now...

Sure has been a lot of threads of people selling or thinking about selling their car in this market.

Nothing wrong with recruiting people to a Challenger.

Now, if it was a Mustang? We'd have to talk

Petrol Head · 05-07-2021, 06:43 AM

Kind of off topic but not really:

My cousin just went through a divorce, had to sell her previous house quickly, and is temporarily staying with me until she buys a new house. The market is such that, if you do not offer AT LEAST $15,000 OVER the listing price, you have no chance at getting the house.

I have never seen a market like this for cars or houses. Ever. This is insane.

zaimer · 05-07-2021, 07:04 AM

Quote:

Originally Posted by gtfoxy

One word...

zaimer · 05-07-2021, 07:08 AM

Quote:

Originally Posted by arpad_m

zaimer, you've been bouncing this idea around in your mind for a while, and don't feel bad, I'm sure everyone understands—there is a price for every one of us that we'd say yes to. Mine may be a bit higher, but whatever

Yes, I've been debating this at least for the past couple of months. I think it would've been foolish to hang onto the car, especially with my upcoming child. The car simply won't be used as much as it should, to justify having it around. Make some money now, and its not like that I can't purchase another Camaro down the road..

zaimer · 05-07-2021, 07:10 AM

Quote:

Originally Posted by Petrol Head

Kind of off topic but not really:

My cousin just went through a divorce, had to sell her previous house quickly, and is temporarily staying with me until she buys a new house. The market is such that, if you do not offer AT LEAST $15,000 OVER the listing price, you have no chance at getting the house.

I have never seen a market like this for cars or houses. Ever. This is insane.

Yes, there are several areas around me as well. I would say that the average is $10K over asking price (for here) if you really want the house. It is insane; I can't tolerate paying full price, let alone OVER!

zaimer · 05-07-2021, 07:10 AM

Quote:

Originally Posted by grampi

Good for you OP, but for those looking to buy a Camaro, now is some dark times...

Thanks! It certainly was not an easy choice, but I believe it is the correct one.

SirJangle · 05-07-2021, 07:12 AM

Quote:

Originally Posted by Petrol Head

Kind of off topic but not really:

My cousin just went through a divorce, had to sell her previous house quickly, and is temporarily staying with me until she buys a new house. The market is such that, if you do not offer AT LEAST $15,000 OVER the listing price, you have no chance at getting the house.

I have never seen a market like this for cars or houses. Ever. This is insane.

Her best bet is to wait it out. Especially since she has the advantage of staying with you until then. It'll come down. As it always does.

zaimer · 05-07-2021, 07:13 AM

Quote:

Originally Posted by LT4Greg

You get what you want zaimer and don’t feel guilty about your decision to sell the Camaro!

Thanks. I do feel a bit guilty, I loved my Camaro. But then again, I love most of the cars when I own them (hence why I buy them). The time was cut shorter than I would've preferred, but its hard to complain when I was paid to have fun.

zaimer · 05-07-2021, 07:16 AM

Quote:

Originally Posted by SirJangle

Her best bet is to wait it out. Especially since she has the advantage of staying with you until then. It'll come down. As it always does.

I fear for some of these new buyers, especially regarding the real estate market. Some of these homes are going at prices that are so overvalued (good interest rates or not)... people are going to be immediately underwater once this market settles (or possibly tanks). It will happen, it is only a matter of time. This market is simply not sustainable.

Camaro fanboy · 05-07-2021, 07:20 AM

same here in sweden. many people are in massive debts. huge mortgages they really shouldn't have. normal working class people paying interest only on flash houses they shouldn't be living in.
gonna be a huge crash here once rates return to say 8%. right now at 1.4% has created this huge bubble of debts.
we built a new house in 2007.
paid it all off in 2017. 200k usd all done with. when rates went down we paid the same each month.
we owe nobody a penny. house. cars. bikes all ours and owe nothing

05-07-2021, 07:20 AM	#56
Camaro fanboy Drives: 2017 2SS Arctic blue fully loaded Join Date: Mar 2021 Location: SWEDEN Posts: 880	same here in sweden. many people are in massive debts. huge mortgages they really shouldn't have. normal working class people paying interest only on flash houses they shouldn't be living in. gonna be a huge crash here once rates return to say 8%. right now at 1.4% has created this huge bubble of debts. we built a new house in 2007. paid it all off in 2017. 200k usd all done with. when rates went down we paid the same each month. we owe nobody a penny. house. cars. bikes all ours and owe nothing __________________

05-07-2021, 06:43 AM	#48
Petrol Head Account Suspended Drives: Fast if no one's looking Join Date: Aug 2019 Location: Cleveland, Ohio Posts: 1,794	Kind of off topic but not really: My cousin just went through a divorce, had to sell her previous house quickly, and is temporarily staying with me until she buys a new house. The market is such that, if you do not offer AT LEAST $15,000 *OVER* the listing price, you have no chance at getting the house. I have never seen a market like this for cars or houses. Ever. This is insane.

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