tusketwedge Loc: Nova Scotia Canada

I live in an area that so far we have not had any covid cases yet. We are seeing houses selling for excessive prices from outsiders looking to get away from hot spots. I bought a fixer upper two years ago and have been offered from a real estate 150,000.00 over my buying cost.Granted I've put a lot of work into the house (done all the work myself) except the electrical and the heat pumps, but still stand to make a very good profit.

Triple G

Very smart. It’s a great time for flipping houses when you’re handy like you.

ShelbyDave Loc: Lone Rock, WI

I made a decent living buying rentals back when 9.5% was normal, and then selling later when 4% was the new normal. Rentals are worth what the income - expenses are. If the interest keeps the payments up, the rental sells for less, but when the interest is down, the price goes up because you can pay more for a mortgage and still pay all the bills. When the interest goes down, prices go up, the same for homes as long as there are buyers looking for homes.

DirtFarmer Loc: Escaped from the NYC area, back to MA

If you bought it to flip it you’re in good shape but if you’re living in it you will have to buy another one to live in so you have to pay an inflated price for that one and that will eat your profits.

petercbrandt Loc: New York City, Manhattan

R/E prices in Woodstock NY have risen as well, I built a house here in '92. Its NYC people leaving and coming here during Covid. This happened also during 9/11.Typically, Woodstock swells 3x during the summer by city people.

Flyerace Loc: Mt Pleasant, WI

I am in Southeast Wisconsin and we are experiencing the same trend. House valuations are up big time. My house had two valuations last year and went up $40,000 each time. House value at $80,000 in one year. I don't live in fancyville. I just live in a house built in 1979. It has 4 bedrooms (nothing for closets to speak of), 2 car garage. L shaped living dining room, 1 1/2 baths and family room. Standard lot (about 1/4 acre). Boom, my house had great value. So do the property taxes. Three houses in our neighborhood have sold for unbelievable prices recently.

The good thing about all of this. The old people are selling and the young people, with little ones, are moving in. It is always great to see a neighborhood revive itself. We may be the oldest people in the neighborhood. I want people to move in and keep everything up. When houses are abandoned, they fall into disrepair and then everyone in the neighborhood suffers.

TriX Loc: Raleigh, NC

You better hope that the gentrification doesn’t get out of hand. In my old neighborhood, builders are bull dozing perfectly good 3,000 sq ft homes for the lot and replacing them with 6-7,000 sq ft mega-mansions as the older people die - it’s euphemistically called “infill”, and of course, they clear cut all the big oaks off every lot before they build, thus ruining the very character that makes this old neighborhood so attractive. If you bought your home as an investment, you can certainly benefit (of course then you have to buy another price inflated home), but if you plan to keep your home, the taxes kill you and the only one who benefits are your heirs.