Capitalising on the exodus

JerryB

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As both our kids moved to Texas over the past year, momma and I were considering a move in a few years when I retire. Was looking at houses for sale in the Fort Worth area...or within an hours drive, just to get an idea of what's available and pricing. Looking at the 400-700K range. Plenty of nice homes in that price range, bigger better than here in Cali for the price. But.... looking at history for the properties, price per square foot in 2018 $119sf.....current $220sf! Talk about capitalizing on the exodus.
 

JEFFRPM

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Yea that sucks but the issue is not as much raping the current buyers it's the damned cost of materials to build these days now add in labor (if you can find any) cost the builders are not making any more money & sellers are just going with current values due to inflation

Mark my words I'm smelling another 2008 bubble burst & I don't know exactly what's going to flip that switch but one of many possible reasons already has a finger on it
 

JDDurfey

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As both our kids moved to Texas over the past year, momma and I were considering a move in a few years when I retire. Was looking at houses for sale in the Fort Worth area...or within an hours drive, just to get an idea of what's available and pricing. Looking at the 400-700K range. Plenty of nice homes in that price range, bigger better than here in Cali for the price. But.... looking at history for the properties, price per square foot in 2018 $119sf.....current $220sf! Talk about capitalizing on the exodus.
I live an hour from Ft Worth in Stephenville. It is a great area. And yes, everything is going through the roof right now. I paid $160k for my house 2 years ago. I could sell now for $200k. I am not selling now. I am going to hang on a couple of years until I build on my ranch 14 miles west of town. I will probably keep my house as an Air Bnb or VRBO rental. Our University just went D1 and now short term and long term rentals are in major demand.
 

JDDurfey

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$160,000 wouldn't even buy a 5000sqft vacant lot in South Central LA; even if it was on fire and surrounded by meth labs owned by El Chapo.
And in my town it got me a 4 bed 2 bath house on a 1/2 acre lot. Granted my house was built in 1949 and is a "pier and beam" house, but most houses built in this area then were pier and beam.

The median income in my town is around $50,000. Maybe a little higher now, those numbers are a few years old.
 

JerryB

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I'm hearing there's a pretty big difference between county/rural and city limits when it comes to property taxes. Can anyone confirm?
 

JEFFRPM

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Raw ground (No power, gas, sewer, etc) here 1/2 mile off a dirt county road not maintained worth a damn is going from $500,000 to 1.5 million an acre depending if it's flood plane or not.

The billionaires are scarfing up the millionaires daily I'm ready to cash it in & blow this popstand myself but where the poop will I go @ 60 Baja?.............possibly but not without my guns
 

JDDurfey

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I'm hearing there's a pretty big difference between county/rural and city limits when it comes to property taxes. Can anyone confirm?
Texas does not have a state income tax, so they have to get their money other ways. Property tax is higher than some other states, but I doubt it is higher than California.

My house in town has a tax valuation of $135K and I pay somewhere around $2500 a year in property tax. My part of our family ranch is 60 acres and it only costs me $150 in taxes because there is little improvements on it right now. As soon as I build a house out there my taxes will jump to $1500-$2000 a year. If you have more than 6 acres you can claim an "Ag exemption" if you are using the land for agriculture which helps keep the taxes down. It also allows you to purchase anything agriculture, including dog food, sales tax free. All of my tractor parts, pick up parts, supplies for the ranch, and dog food is sales tax free for me.
 

SMS81

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Texas does not have a state income tax, so they have to get their money other ways. Property tax is higher than some other states, but I doubt it is higher than California.

My house in town has a tax valuation of $135K and I pay somewhere around $2500 a year in property tax. My part of our family ranch is 60 acres and it only costs me $150 in taxes because there is little improvements on it right now. As soon as I build a house out there my taxes will jump to $1500-$2000 a year. If you have more than 6 acres you can claim an "Ag exemption" if you are using the land for agriculture which helps keep the taxes down. It also allows you to purchase anything agriculture, including dog food, sales tax free. All of my tractor parts, pick up parts, supplies for the ranch, and dog food is sales tax free for me.
Depends on the county, some are very high. Although they are high, they make really good use of the income improving schools primarily then roads and infrastructure, a far cry from the allocations in California. My kid’s high school in Texas looked like a college complete with a jumbotron, their high school in California still has portables and a dirt track!
 

Tom_Willis

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Winter will change your mind.
This is where the afghan refugees are being resettled. Notice how many are going to SD? ZERO.
 

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jon coleman

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Smart move to buy in at as low a sales price (and tax rate) as possible, then continually improve it to suit you.
w000000ooo, buy Low, sell High???, ( me, i buy hi, dump in cubic dollars, and just want to get Ridd of it cheep....at a loss....😬, im Not a very good buissnesman
 
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