My in-laws recently bought their first home

Mar 18, 2022
5:03:22pm

BYU Fan All-American

They gave an adjustable offer that automatically matched anyone else up to $50k. They also meet with the owners before the open house and told them their story to try and make it harder for them to be passed over for an investor.

This message has been modified

Originally posted on Mar 18, 2022 at 5:03:22pm

Message modified by BYU Fan on Mar 18, 2022 at 5:15:26pm

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BYU Fan

Bio page: BYU Fan
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Last login: Jun 17, 2024
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Messages

Author

Time

Update on trying to buy a home in Utah

Julius Pepperwood

3/18/22 2:34pm

We ended up buying a nicer home in a less desirable zipcode. All our offers

Kauai

3/18/22 2:41pm

Where are you looking to buy?

Ikuna

3/18/22 2:41pm

SL County mainly, with Lehi

Julius Pepperwood

3/18/22 2:48pm

Our neighbors house is going on the market next month I believe, in Saratoga Springs.

BlueBlood94

3/18/22 3:10pm

What exactly do you mean by "in Utah"?

VeryGerry

3/18/22 2:41pm

Yeah - Happy Wife = Happy Life

Julius Pepperwood

3/18/22 2:48pm

There's a lot of townhomes being built in Saratoga Springs & Eagle Mtn

RockyBalboa

3/18/22 3:16pm

I disagree with that trope.

Bovine University

3/18/22 3:18pm

I know this has been repeated a bunch.. and its not super helpful for your case

cougfanz

3/18/22 2:45pm

Absolutely bail on Utah. A lot of great places to live

TNT

3/18/22 3:10pm

Thanks Joe 😊

GA_Coug

3/18/22 2:45pm

Really is just stupid - bought our townhome in 2020 for $270k

wannnacruise

3/18/22 2:47pm

This happened to a friend of mine in Lehi

Julius Pepperwood

3/18/22 2:49pm

The federal reserve destroyed the little guy. What happened is tragic.

Backcountry

3/18/22 2:59pm

Rent and wait - prices should cool down eventually. Housing is cyclical.

Abe Froman

3/18/22 3:07pm

I dont think so. Wages are just gonna have to catch up. Imo.

Backcountry

3/18/22 4:09pm

I agree, but the drop can cone from inflation instead of dropping prices

Spine

3/18/22 11:10pm

As much as it feels like it will always be like this, it won't. This ends in

grosven

3/18/22 4:56pm

There are some pretty big differences from now and 2008

Julius Pepperwood

3/18/22 5:17pm

Price is one reason inventories are low. No one wants to find something in this

dtownCoug

3/18/22 5:28pm

Ask yourself if you can live with a 50% decline in the value of your home

grosven

3/18/22 6:22pm

I agree with a lot of what you say but not the Fed being serious about inflation

johnnybyu

3/18/22 10:47pm

Housing prices have never dropped 50%.

chivo

3/19/22 9:06am

I bet Detroit and quite a few mining towns have seen those drops.

Shore10

3/19/22 9:24am

Well, I don't think Holliday is 2008 Detroit, but even then

chivo

3/19/22 3:46pm

This just isn't sustainable.

VACOUGFAN

3/18/22 5:02pm

My in-laws recently bought their first home

BYU Fan

3/18/22 5:03pm

Shades of 2007/8. History doesn't repeat but it rhymes.

grosven

3/18/22 5:09pm

Agree on history but this is more like the 70s than 2008. It is going to be

johnnybyu

3/18/22 10:51pm

I am a definite optimist. Our best days are ahead.

grosven

3/18/22 11:07pm

We are in for a bumpy ride with stagflation. We are going to have a recession

johnnybyu

3/18/22 11:19pm

I might have a solution

byubryce

3/18/22 5:37pm

Ask your realtor about adding an escalation clause into your offer

Traveling Coug

3/18/22 6:13pm

I don't they even put in offers without escalation clauses anymore. SOP now.

Kauai

3/18/22 7:42pm

I think it was Homie that announced a new financing program where they basically

OldFogey

3/18/22 6:26pm

I just went under contract on the first home offered on in the Seattle area.

Tim Riggins

3/18/22 8:26pm

Move 🙂 I grew up in Utah and love it there but it is just not sustainable for

Cougphysio

3/18/22 8:47pm

Where did you guys go?

Kolipoki

3/18/22 8:49pm

We moved to South Texas. Corpus Christi. It's coastal so we have the beach just

Cougphysio

3/18/22 9:12pm

It’s insane right now. We just went under contract on our starter home. After a

Tuskaloosa Cougar

3/18/22 10:10pm

At this rate, Utah will be a dust bowl in a few decades. I'd look elsewhere.

Shore10

3/19/22 7:12am

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