.

[Beernuts]

It's wild. I understand taking advantage of the market but that seems really steep to me.

We just put an offer on a home in Maple grove that has 600 more square feet, 3 levels and a nice porch/backyard. That home was listed at the same price.

With remote working becoming more available, if I were a young family I would leave the metro areas. I would personally focus on living near a community of 5,000 - 10,000, that contained a small private college and a vibrant local downtown. Perhaps a Decorah, Sioux Center, St Peter, Orange City, Pella type community.

Housing is still expensive in those communities...but not like the metro. They also offer a better quality of life with less traffic, crime, pollution, etc.

 

[srjclone]

With remote working becoming more available, if I were a young family I would leave the metro areas. I would personally focus on living near a community of 5,000 - 10,000, that contained a small private college and a vibrant local downtown. Perhaps a Decorah, Sioux Center, St Peter, Orange City, Pella type community.

Housing is still expensive in those communities...but not like the metro. They also offer a better quality of life with less traffic, crime, pollution, etc.

We are looking all over, or at least we have our search net spread wide because the inventory has been low for a while (starting to pick up now). But we are definitely shading to outskirt suburbs rather than those first ring types. We've been in downtown and Minneapolis proper for the last 3+ years and as much as I love the ability to hop down to target center or field to catch a weekday game, those days are numbered and I know it haha.


We're just trying to nail down a home in an area we know we like, relatively good schools, outdoor activities, etc. that won't break the bank or we don't over extend ourselves because of what other people are doing in the market. It's been a process but I'm not wavering much off of my/our plan.

 

[BCClone]

That is crazy. In small town Iowa that house is $30,000?

You talking towns of 20? Pretty small towns I know (population 500) in NC Iowa not by any large cities, that is a 100,000 house. In a town of 2000, it would run about 140,000-150,000.

 

[cycfan1]

As mentioned I am on the market in the twin cities currently as well, I came across this listing in our MLS search today.

7415 Portland Ave, Richfield, MN 55423 | realtor.com®

View 15 photos for 7415 Portland Ave, Richfield, MN 55423, a 4 bed, 2 bath, 1,490 Sq. Ft. single family home built in 1951 that was last sold on 05/28/2021.

www.realtor.com

I literally laughed out loud. Don't get me wrong, it has been done up well for the space that it has but:
less than 1500 sq ft
small kitchen
literally zero landscaping
detached garage
Richfield (nothing against it, but for the price you'd think you're paying school district premium)
=
$360k list price, and I wouldn't be shocked if someone offered higher (sadly)

just shows you that the sellers know what type of market they have and are willing to play the game to get as much as they can, and I don't blame them.

Last sold for 136k in 2020.

Nice flip.

 

[simply1]

You talking towns of 20? Pretty small towns I know (population 500) in NC Iowa not by any large cities, that is a 100,000 house. In a town of 2000, it would run about 140,000-150,000.

Yeah I’d like to see where that’s listed at 30,000.

 

[CycloneDaddy]

Yeah I’d like to see where that’s listed at 30,000.

I got a place in Crawford County I will sell you for $30k, 3 bed 2 bath on a double lot on main st.

 

[StClone]

Way

I got a place in Crawford County I will sell you for $30k, 3 bed 2 bath on a double lot on main st.

Great reply!

 

[ianoconnor]

Yeah I’d like to see where that’s listed at 30,000.

I don't think that'd be listed for $30k in rural Afghanistan...

 

[RLD4ISU]

We are looking all over, or at least we have our search net spread wide because the inventory has been low for a while (starting to pick up now). But we are definitely shading to outskirt suburbs rather than those first ring types. We've been in downtown and Minneapolis proper for the last 3+ years and as much as I love the ability to hop down to target center or field to catch a weekday game, those days are numbered and I know it haha.


We're just trying to nail down a home in an area we know we like, relatively good schools, outdoor activities, etc. that won't break the bank or we don't over extend ourselves because of what other people are doing in the market. It's been a process but I'm not wavering much off of my/our plan.

We're doing the same - keeping the search fairly wide but on the outskirts and within a 30-35 minute maximum commute to work. LOTS of houses popped up on the market in the last day or two. I just shake my head at some of the listings. Some people have some wild decor, some homes look great from the outside but need a complete update inside and some realtors evidently think buyers are going to get excited about a flower that's planted outside or some of the decor in the home. SMH. And for goodness sake! How hard is it to put the toilet seat down for a picture?! LOL

Our plan is to re-visit the area next month and look at different towns/neighborhoods to see what we do/don't like about each one. We're empty nesters, but still plan to keep school districts, etc in mind since we plan to sell it in 6-9 years when my husband retires.

It's been good to read some of the opinions on here about the TC areas. We have some friends and coworkers that live in there that have also been helpful with giving information/ideas.

 

[throwittoblythe]

With remote working becoming more available, if I were a young family I would leave the metro areas. I would personally focus on living near a community of 5,000 - 10,000, that contained a small private college and a vibrant local downtown. Perhaps a Decorah, Sioux Center, St Peter, Orange City, Pella type community.

Housing is still expensive in those communities...but not like the metro. They also offer a better quality of life with less traffic, crime, pollution, etc.

This is exactly what we did. We moved from Shakopee, MN to Adel, IA. Most of it was wanting to get back to central IA anyway, but the small town appeal was there for us. What really drove us to a smaller town is that we like very old homes. We found an 1899 home in Adel that was in great shape and has much of the original character remaining. I know there are some great old neighborhoods in DSM, but generally, it comes with a less-ideal area, smaller lots, and probably not-so-great schools.

Adel is great because there's a really nice center square with lots of businesses. It's also the county seat, so that drives some economic strength. The consolidated HS is located here, as well.

For comparison, we sold our house in Shakopee for $275k. It was 3 bed, 1 bath, 1700 SF. Lot size was 12,000 SF. Single car, unheated garage.

In Adel, we paid $290k for our current house. It's 4 beds, 2 baths, 2500 SF. Lot size is 25,000 SF. Three car, heated garage.

We basically got 2x the house/property for slightly more money.

 

[srjclone]

We got one!!

We were continuing to look at homes even after we had offers in, just in case the offer we had didn't win, we could turn around and put another offer in on a house we liked. This morning we saw 2 homes as we had an offer in, 4PM rolls around we learn we missed out on the home, we turn around and ask to get the offer started on the second home we saw. We get it prepped and finalized by 8:30 and by 9:15 we got word we won. A whirlwind of a day to say the least!

 

[clonechemist]

Happy to say we closed yesterday on a house in the north Jersey burbs.

We went further out than we intended, and prices were def higher than a year ago and inventory very low, but thankfully we didn’t have to deal with multiple offers over asking price. We’re just hoping now that WFH stays a big thing and our 25 minute commute doesn’t become a 45 minute slog.

 

[iowastatefan1929]

That Suburban Home Buyer Could Be a Foreign Government

Big foreign investment firms and government-run funds are joining with U.S. housing companies to buy or build single-family rental homes in America’s suburbs.

www.wsj.com

If You Sell a House These Days, the Buyer Might Be a Pension Fund

Yield-chasing investors are snapping up single-family homes, competing with ordinary Americans and driving up prices.

www.wsj.com

Pretty sure I heard that 1/5 homes sold in America in the last 18 months has been institutional investors wishing to rent them for income properties in funds. Almost every homebuyer on the planet can't compete against institutional money. This is a bigger deal than most people realize

yep everyone thought it was chinese money but now its coming out that it is pension funds, builders are building entire developments and selling them as one big lot of single family rentals, no customization needed, no this trim and that flooring, no bullsh*t, sorry everyone u will own nothing and be happy.

 

[iowastatefan1929]

own nothing and be heppy means elites own everything and rents to everyone else, see how that works? you cant earn anything on govt bonds, high yield is a joke for the risk, so what to they do, drive interest rates down so people take on more debt, which drives the price up and then big money comes chasing yield, hope you all enjoy this cluster of cow poo coming down on us and the fruition of the greed that comes with late stage capitalism

 

[RLD4ISU]

Glad it worked out for you finding a house with a short commute similar to what you have had. Added bonus if you like the house and neighborhood.

We downsized three years ago from a 4,800 sq ft home on 40 acres with a 50 minute one-way commute & two hour drive to the DM airport to a 2,800 sq ft home home on 0.5 acres in a development with a 45 minute drive to the DM airport. The commute to work was decreased to 25-30 minutes, but mainly worked from home even before Covid. Now with this potential move, we have a very good idea of what we do/do not want. Since we lived in the TC area in the late 80s, we have an idea of what it's like to live closer/further from the city area. Having a 30 minute maximum commute is fine with us. The possibility of taking Uber to the airport - heck, yes. Our plan is to be there 6-9 years until retirement. Our goal then is to sell and go back to having a home on 40+ acres of land.

 

[BoxsterCy]

When we lived in Shakopee, what we could afford had a one-car, detached, unheated garage. It was a 1940s era home/garage so the garage didn’t even really accommodate modern cars. So, we parked outside year round. I bought my wife a remote start the first winter. For me, my vehicle was a company car with no remote start and I wasn’t allowed to add it. It was a sprint out to the car every morning to turn it on and warm it up before leaving for work.

Helped demo a 1940's vintage garage in the Twin Cities. It was insulated, sort of, with Minneapolis Tribune newspapers. Saved one because the font page headline was FEAR 1,300 LOST IN SEA FIGHT. Paper was the Sunday edition May 25, 1941, the Bismarck had sunk the HMS Hood.

 

[Cdiedrick]

I got a place in Crawford County I will sell you for $30k, 3 bed 2 bath on a double lot on main st.

Is this in Dow City?

 

[Cdiedrick]

I will say this. There are too many people on here that depend waaaaaaaay to much on 364,961 opinions. So get off the internet and talk to local realtors and contractors. This post is ok but I would never make the post. The comments are beyond hilarious. Honestly most of you are nearly as smart as you want to believe. I bought a house in Dakota City, Iowa for 30k. It’s a double lot and 952 sq ft two story with no garage. It had a new roof, windows, gutters, siding, furnace, and a whopping 100 amp breaker panel. I gutted the place and updated the upstairs wiring and new trim work obviously. I stole the house and am asking 80k after dumping 15k into it. There are buys out there but look at the market first and if you aren’t from that area, shut up if it’s been specified. Not every town is Ankeny, Grimes, or Marion.

 

[8bitnes]

Yeah, you're gonna have to trade up. Just keep it in the garage till you can shop around some.

You might also want to look into local covenants on bicycle brands. A pair of Trex to show off hanging from the garage ceiling is dujour. You don't have to ride them, just have the door open once in a while so peeps can see you have them. But not too much or you'll be looking to buy them back on Craigslist.

This speaks to wait I've heard about EDINA = Every Day I Need Attention

 

[I@ST1]

Just watched House Hunters on HGTV... they were in Minneapolis... Wow is all I can say. Good for you to find a home!