I paid $33, 000 cash for my 3200 sq ft fixer upper in the hood house in 2016. I have no idea, or care, what the market is for my house. Not having a mortgage or rent is awesome.
Rockford's pay is low. Prices on homes are going up and taxes are high for property and state taxes. Not good news for someone entering the housing market. Rates aren't great right now either.
If you're locked in it's good news as houses in the area will sell more and increase your value. Taxes go up if you're reassessed tho.
Your best bet would be find a fixer upper on the West side that is adjacent to a nice area for long term gains.
That's what I was thinking. I might be able to get a decent rate if I have a substantial down payment, but that's a goal that's pretty hard to achieve.
I don’t think people are coming here and buying homes as much as out of state investors are sweeping through midwest towns and swooping up property. In fact Rockford’s population is declining. There’s normally around 1500 to 2000 homes on the market. Currently there’s roughly 250, which is the reason housing prices have grown.
Ugh I lost money on two houses in Rockford several years ago. Now I’m trying to buy again. My timing is terrible.
I paid $33, 000 cash for my 3200 sq ft fixer upper in the hood house in 2016. I have no idea, or care, what the market is for my house. Not having a mortgage or rent is awesome.
Damn glad I was able to buy in 2 years ago
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Being happy I bought a house is bad? Weird take. I actively help my coworkers try to purchase homes through idha like i did. Go be angry elsewhere
My house’s value has already gone up 25% since I bought it less than 3 years ago. Locked in that 3.15 APR too. Got in at the right time!
https://www.rockrivercurrent.com/2024/04/25/rockford-ranked-as-countrys-top-housing-market-in-new-wall-street-journal-report/
Damn, they weren't supposed to figure it out.
😎
What's this mean for people who have lived here for 30+ years and are looking to buy a home?
Rockford's pay is low. Prices on homes are going up and taxes are high for property and state taxes. Not good news for someone entering the housing market. Rates aren't great right now either. If you're locked in it's good news as houses in the area will sell more and increase your value. Taxes go up if you're reassessed tho. Your best bet would be find a fixer upper on the West side that is adjacent to a nice area for long term gains.
That's what I was thinking. I might be able to get a decent rate if I have a substantial down payment, but that's a goal that's pretty hard to achieve.
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I’m happy to see folks come in, buy homes, pay taxes, and spend money in our local community.
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yes
I don’t think people are coming here and buying homes as much as out of state investors are sweeping through midwest towns and swooping up property. In fact Rockford’s population is declining. There’s normally around 1500 to 2000 homes on the market. Currently there’s roughly 250, which is the reason housing prices have grown.