Just sold my home in CA … it was my second. Don’t think I’m going to buy again … for a while, while.
Just sold a 3120 sq ft home in North Central CA. The house was on the market for 9 months. We dropped the price twice and ended up giving a 10k credit. We went into contract to sell on 8 separate occasions. The 9th time was the charge. We put 340k of upgrades in this house. Yes, we lost money. We completely renovated all 3 baths and the kitchen. We also upgraded the landscape. There were other internal things we either upgraded or completely replaced. The upgrades were just short of 340k over 4 years. It was supposed to be our forever home, but work relocation intervened. There was no way to predict that but the offer was too good to refuse.
The housing market is absolutely horrible! When we bought in April 2022, we were able to secure the loan for 4.25%. Not long after that, the rates sky rocketed. We are currently renting and considered buying but EVERYTHING is overpriced with outrageous rates. I am VERY GRATEFUL that we were able to sell. However, I am wondering why so many people are so willing to buy in this climate, in this market? The math simply doesn’t make sense to me …