My friend works for a home builder here in Utah and told me the other day that lumber costs alone have skyrocketed. He

Mar 2, 2021
9:50:34am

Ode to Hoy The Truffle Shuffler

said that it has been so crazy right now. A lot of what is mentioned above is true.

This is why we are looking at existing homes and not going to build this time around as we did back in 2007.

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Ode to Hoy

Bio page: Ode to Hoy
Joined: Jan 25, 2008
Last login: Apr 25, 2024
Total posts: 14,004 (645 FO)

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Messages

Author

Time

To show how nuts the Utah housing market is, you cannot even get a price on new

Hoopster

3/2/21 9:40am

Smart of the builders, definitely sucks for customers though.

Duke Silver

3/2/21 9:42am

Material costs are insane right now, builders don't want to be stuck having to pay if they go up even further.

Cosmodiar

3/2/21 9:43am

Assume they all have that worked into the contracts.. I had

cougfanz

3/2/21 9:49am

My friend works for a home builder here in Utah and told me the other day that lumber costs alone have skyrocketed. He

Ode to Hoy

3/2/21 9:50am

My problem with looking at existing homes is the timing between selling and

Adwight

3/2/21 9:52am

If you live in Utah you don’t need a sell contingency. It’ll sell.

StalwartBraveTrue

3/2/21 10:09am

Realtors won't let you put in offers if you still have to sell. It's annoying.

Adwight

3/2/21 12:07pm

Whoa you built a home in 2007? How long were you underwater on that thing?

Windward_Coug

3/2/21 9:53am

We built it over 14 months. Did a lot of the work as well with, contracted out for Electrical, plumbing, and foundation.

Ode to Hoy

3/2/21 10:01am

I feel like we've seen this movie before. Slight different than before,

StapleGun

3/2/21 9:43am

Except the last movie it was all investors with stated income loans driving up

monteburns

3/2/21 9:45am

This is an important point. Just because prices are going up doesn't mean a

BringBackRoyalBlue

3/2/21 10:07am

This is a picture. I was living in AZ & went to a new home lottery. It wasn't

grandpacoug

3/2/21 10:16am

So this was an investment for him? Man, that’s scary.

StalwartBraveTrue

3/2/21 11:00am

Yes. Casa Grande, AZ-between PHX & Tuc. Big name builder. 1 of crazier things

grandpacoug

3/2/21 11:10am

Have we ever seen inventory this low before? I don’t recall ever seeing anything like this

JOPE

3/2/21 9:45am

You refer to multiple states. We're in NC and a neighbor listed his house last

BerkeleyCoug

3/2/21 9:50am

It’s crazy, homes in my area are currently listing the home on Friday or Saturday with all offers expected

JOPE

3/2/21 9:57am

Yes. Just before last crash. See my post above for an example..

grandpacoug

3/2/21 11:11am

sounds like California circa 2007

claw

3/2/21 9:43am

I know it's hard for people looking to buy, I just think it will eventually be

grosven

3/2/21 9:46am

it may take many years 🙁

grosven

3/2/21 9:47am

Building is up 50% in my market compared to when I built the same home

cougfanz

3/2/21 9:46am

We started our build a few months ago. We were the last ones to get to pick a

Adwight

3/2/21 9:49am

We moved in new home 8 months. I am so grateful that we were able to. I can’t

JohnnyC

3/2/21 9:51am

Very similar feelings, except our builder told us he thought we could get

gangbusters

3/2/21 9:56am

Wow! The increase was purely based on appraised value from the refinance we did

JohnnyC

3/2/21 10:01am

We saw a house very comparable to ours last weekend listed for $950,000!

gangbusters

3/2/21 10:05am

Good time to be a builder.

johnnycarson

3/2/21 9:53am

Repost: More than 1/4 of the houses for sale in the USA haven't been built yet.

O Gaucho

3/2/21 9:54am

Lumber has quadrupled in price in a couple months

pink22

3/2/21 9:58am

Time to get a few more Scentsy layers below you in the pyramid

runitup590

3/2/21 10:01am

I have a brother leaving Orem for Iowa. He's going to make a killing on his hous

Mayor of Cougartown

3/2/21 10:04am

Yeah, but you have to live in Iowa

WhirleyPop

3/2/21 10:05am

right, that's the problem.

Mayor of Cougartown

3/2/21 10:10am

I am a transplant to Missouri and the folks here crack me up when they tell me that Iowa stands for Idiots Out

sethj250

3/2/21 10:14am

We all should love Iowa, without it we'd have less bacon and corn chips

JackStack

3/2/21 10:22am

RE: We all should love Iowa, without it we'd have less bacon and corn chips

sethj250

3/2/21 10:34am

well, unfortunately he doesn't like cornfields but what can you do.

Mayor of Cougartown

3/2/21 10:26am

You ought to give Iowa a try

BYUFootballisBack

3/2/21 10:19am

It's not like that where people are building out here

RockyBalboa

3/2/21 10:17am

And I take that back....my wife just told me

RockyBalboa

3/2/21 11:53am

Same bidding wars on new builds in Austin. Also had my neighbor tell me that

creameryon9th

3/2/21 10:21am

It's all that Internet that they have in Austin now.

grosven

3/2/21 11:26am

Same in Idaho.

newbie

3/2/21 10:41am

It's all about material cost. Why give a quote with today's price when it

flyzag

3/2/21 10:51am

I used to oversee commodity hedges for a company I worked for. This type

WDaddy

3/2/21 11:39am

Family in my ward is moving to Afton, WY. So there house is going up for sale..

BYU Grounds

3/2/21 11:47am

My guess 550+

JohnnyC

3/2/21 1:24pm

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