I did make a mistake in regards to capital gains - real estate is exempt from the additional 7% capital gains tax. These types of gains in our area aren’t as common.
In order to live decently in Spokane and afford a median house, you have to earn $125K per year? Did I get that right? The average salary in Spokane is under $50K. The median household income in Spokane is under $70K. This is how out of touch, bordering on outright predatory, our real estate market is.
american living in canada since '95 here.... im moving to spokane thanks to them having a branch for my construction company... i cant wait. everything here is so much cheaper up here.. and i can still stay within 2-5$ that im making here in canadian currency. im actually stoked. we gon be eating and livin good.
You need to live in Dallas or Texas. I left Spokane in 2020! The Driver license is $ 30 dollars in Texas. Our gas prices tonight was around 2.25 a gallon. ground Beef has been around 3.50 to 3.78. milk is been 2.50 to 3.50 a gallon. Spokane is too expensive! There is some really nice houses in Irving around 400,000. They are building like crazy in Texas. There a huge population growth because Dallas is hot with new companies building head quarters in Irving and Dallas area
I have looked at Texas. It is tempting to move there. It is the heat and very high property taxes that keep me away. I suppose it would even out if your grocery bill is cheaper there, but your property taxes are double to triple what Spokane homeowners pay. So I guess you would need to sit down and crunch the numbers. I knew someone who lived there for a few years. They ended up moving to Arizona. Primarily because of property taxes. And the Summers were too hot. But geez when your house is paid off your $8,000 a year in property taxes compared to the same valued property in Spokane being $4,000 is pretty hard to handle if you set so much aside monthly for property taxes. That is $667 a month in Texas compared to $333 a month in Spokane. So the savings in groceries, tabs, etc. Gets eaten up in property taxes. So maybe rent in Texas. Our utilities costs are below average too. I wonder what utilities cost in Texas? Because Texas is an option for many. But for retirees... You don't want to pay high Federal Income taxes, etc. Or pay taxes on Social Security when your income is already limited... Something to think about. Texas does not tax these things.. But we also don't get F4 or 5 tornados... 👍
My arguments against Texas. Heat. Property tax. Large amounts of new constructions for apartment buildings 60-120 unit range will have downward pressure on rents once completed.
As a Texas native that moved to Washington, my argument against Texas would be 1. ERCOT - After the Snowpocalypse of 2021, we learned that Texas is on its own electric grid that is not shared with the rest of the US, which can mean extended blackouts during the summer or winter. 2. The heat - Texas only has 2 seasons, sometimes 3: hot, not so hot, and possibly winter. The summer heat can get up to 110+ and last from May to October or November. Winters are very unpredictable. You'll never know if it will be warm or cold 😂 3. Allergies - this might only affect Central Texas but stay away or take necessary precautions during Cedar season 4. Higher property taxes even though there's no state income tax 5. No mountains and limited trees - Texas prioritizes drivability and parking over nature Arguments for Texas 1. Cheaper gas due to oil refineries located in the region 2. Cheaper groceries 3. Central Air Conditioning in all homes, which will come in handy when you have 30+ days of temps over 100 4. On average, ~300 days of sun per year 5. Flat auto registration fee, regardless of what you drive
Washington has inflated so high now and the pay has stalled. As a nurse looking to relocate back to my home state it may not be possible. Looking at VA jobs, the pay in Spokane is about the same as in say Texas, but in Texas buying a house is almost 1/2 the price? Why are houses so expensive in WA? Spokane hasn't been affordable for many many years now.
I’m happy to send you my MLS number if you email me! As far as I’m aware the monthly roster only shows new members and resigning members. I’m on the front page of their website though
How old are you? In West Los Angeles, young people don't own homes. And how did you get a mortgage on a 1099 income. I have foreign earned income and it sadly prevents me from most mortgages.
The amazing thing about Spokane is if you get started early in your career, you can buy your first home in your mid 20’s. I’ve bought two properties in that time and still have both. I know some great mortgage professionals that were able to approve me after only one year of solid 1099 income. After that it’s not difficult to qualify on 1099 income if you pay taxes and set your business up correctly
@@Haydnhalsted Amazing to me, in my 20s I was trained in RE trades, but the homes were just crazy expensive, same as now. Oh well, I shouldn't have returned to WLA at 21 years old. I cared for a Malibu home undergoing remodel and then foreclosure, I could have put in an affordable offer if someone had talked to me about anything at all at 22. Long ago. Either way, I'm about to watch your video on winter, I went to school in Wauwatosa WI and I hate the killer cold. Deal breaker.
I did make a mistake in regards to capital gains - real estate is exempt from the additional 7% capital gains tax. These types of gains in our area aren’t as common.
In order to live decently in Spokane and afford a median house, you have to earn $125K per year? Did I get that right?
The average salary in Spokane is under $50K. The median household income in Spokane is under $70K.
This is how out of touch, bordering on outright predatory, our real estate market is.
american living in canada since '95 here.... im moving to spokane thanks to them having a branch for my construction company... i cant wait. everything here is so much cheaper up here.. and i can still stay within 2-5$ that im making here in canadian currency.
im actually stoked. we gon be eating and livin good.
You need to live in Dallas or Texas. I left Spokane in 2020! The Driver license is $ 30 dollars in Texas. Our gas prices tonight was around 2.25 a gallon. ground Beef has been around 3.50 to 3.78. milk is been 2.50 to 3.50 a gallon. Spokane is too expensive! There is some really nice houses in Irving around 400,000. They are building like crazy in Texas. There a huge population growth because Dallas is hot with new companies building head quarters in Irving and Dallas area
I have looked at Texas. It is tempting to move there. It is the heat and very high property taxes that keep me away. I suppose it would even out if your grocery bill is cheaper there, but your property taxes are double to triple what Spokane homeowners pay. So I guess you would need to sit down and crunch the numbers. I knew someone who lived there for a few years. They ended up moving to Arizona. Primarily because of property taxes. And the Summers were too hot. But geez when your house is paid off your $8,000 a year in property taxes compared to the same valued property in Spokane being $4,000 is pretty hard to handle if you set so much aside monthly for property taxes. That is $667 a month in Texas compared to $333 a month in Spokane. So the savings in groceries, tabs, etc. Gets eaten up in property taxes. So maybe rent in Texas. Our utilities costs are below average too. I wonder what utilities cost in Texas? Because Texas is an option for many. But for retirees... You don't want to pay high Federal Income taxes, etc. Or pay taxes on Social Security when your income is already limited... Something to think about. Texas does not tax these things.. But we also don't get F4 or 5 tornados... 👍
My arguments against Texas.
Heat.
Property tax.
Large amounts of new constructions for apartment buildings 60-120 unit range will have downward pressure on rents once completed.
As a Texas native that moved to Washington, my argument against Texas would be
1. ERCOT - After the Snowpocalypse of 2021, we learned that Texas is on its own electric grid that is not shared with the rest of the US, which can mean extended blackouts during the summer or winter.
2. The heat - Texas only has 2 seasons, sometimes 3: hot, not so hot, and possibly winter. The summer heat can get up to 110+ and last from May to October or November. Winters are very unpredictable. You'll never know if it will be warm or cold 😂
3. Allergies - this might only affect Central Texas but stay away or take necessary precautions during Cedar season
4. Higher property taxes even though there's no state income tax
5. No mountains and limited trees - Texas prioritizes drivability and parking over nature
Arguments for Texas
1. Cheaper gas due to oil refineries located in the region
2. Cheaper groceries
3. Central Air Conditioning in all homes, which will come in handy when you have 30+ days of temps over 100
4. On average, ~300 days of sun per year
5. Flat auto registration fee, regardless of what you drive
I'm in Houston right now, I imagined it would be ok, but it's horrible!
Washington has inflated so high now and the pay has stalled. As a nurse looking to relocate back to my home state it may not be possible. Looking at VA jobs, the pay in Spokane is about the same as in say Texas, but in Texas buying a house is almost 1/2 the price? Why are houses so expensive in WA? Spokane hasn't been affordable for many many years now.
To think, I bought my new build in 2018 (Idaho) for $325,000 with about $14,000 down. 4 bdrms 2.5 bathrooms.
You scored! 2018 was the time to buy
How come your not listed on the SpokaneMLS roster?
I’m happy to send you my MLS number if you email me! As far as I’m aware the monthly roster only shows new members and resigning members. I’m on the front page of their website though
How old are you? In West Los Angeles, young people don't own homes. And how did you get a mortgage on a 1099 income. I have foreign earned income and it sadly prevents me from most mortgages.
The amazing thing about Spokane is if you get started early in your career, you can buy your first home in your mid 20’s. I’ve bought two properties in that time and still have both. I know some great mortgage professionals that were able to approve me after only one year of solid 1099 income. After that it’s not difficult to qualify on 1099 income if you pay taxes and set your business up correctly
@@Haydnhalsted Amazing to me, in my 20s I was trained in RE trades, but the homes were just crazy expensive, same as now.
Oh well, I shouldn't have returned to WLA at 21 years old. I cared for a Malibu home undergoing remodel and then foreclosure, I could have put in an affordable offer if someone had talked to me about anything at all at 22. Long ago.
Either way, I'm about to watch your video on winter, I went to school in Wauwatosa WI and I hate the killer cold. Deal breaker.
The Tampien brothers began flipping the city in 2014. Our prices skyrocketed.
Capital gains from real estate are excluded from WA's new capital gains tax.
You are correct, thank you for mentioning that!
2016 is the price I can afford in 2024….
I feel you