Low value on used Bronco

[broncorik]

Haven't been to CA for 10 years, but always enjoy the trip, thanks for the invite!

I'm born and raised, so consider it Stockholm syndrome or something close haha but at almost 36 the winters are getting harder and harder to handle. Last two winters were 200" plus of snow and it was on the ground from October to May. This year almost no snow and "milder" temps thankfully. I know a lot of people who move to WA/OR/ID for milder warmer weather. We have friends who left Palmer,AK for Phoenix (Gilbert) we typically go visit late September/early October, this last year it hit 118f while we were there. Honestly 109f wasn't bad when you're just vacationing and hanging by the pool. Trying to actually live in it seems terrible, but the body does acclimate.

Yikes...I'd think that if AZ is the goal Flagstaff or Prescott Valley or Sedona would be more your thing...much milder winters than AK and loads of sunshine. When I lived in Phoenix and Tucson, I quickly realized that brutal heat is worse than bitter cold (because at least one can dress warmer for the cold). With the heat, many people just live indoors and deal with 500 dollar AC bills and can't even walk their dogs during the day. One summer, at 122 degrees, aircraft were grounded...and my car puked ATF all over from expansion. Additionally, it looked like a murder scene inside my car...I had left a berry smoothie inside and when it blew it covered the interior/windows. Fun times.

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[zoober]

I must admit having been former military and a shooter myself California does make it a hassle to get ammo...but oddly enough it's no longer tough (at least in my county) to get a concealed carry (and even without one to transport whatever you need to a range). A lot of folks dislike California because they can't own an AR in certain configurations, or some of the weapons that are useful for long distance work, but I have no need for either these days. About 15 minutes away is the range where Keanu Reeves practiced for John Wick (he is actually pretty solid at three gun), ...your wife would probably dig that place. A lot of spec ops guys (current or former military) as well as LEOs frequent it. Here's one from this morning to appeal to your surfing side (local competition):

She actually has a TTI Canik Combat. She’s kinda an SFx fangirl.
I lived in Simi for a few years. Been there a few times.

 

[broncorik]

She actually has a TTI Canik Combat. She’s kinda an SFx fangirl.
I lived in Simi for a few years. Been there a few times.

Awesome machinery indeed...I believe the Turkish military uses a variation of them. I lean towards HK, but appreciate other flavors. As you know, CA does restrict CCW choices to their very narrow "list," but hopefully that will expand one day. It is completely hit or miss...a P2000 is ok but a P30 is not, apparently.

 

[bmcgc]

Yikes...I'd think that if AZ is the goal Flagstaff or Prescott Valley or Sedona would be more your thing...much milder winters than AK and loads of sunshine. When I lived in Phoenix and Tucson, I quickly realized that brutal heat is worse than bitter cold (because at least one can dress warmer for the cold). With the heat, many people just live indoors and deal with 500 dollar AC bills and can't even walk their dogs during the day. One summer, at 122 degrees, aircraft were grounded...and my car puked ATF all over from expansion. Additionally, it looked like a murder scene inside my car...I had left a berry smoothie inside and when it blew it covered the interior/windows. Fun times.

I lived in Tucson in the 60s, again in the 70s and again in 01-02. Tucson was the hidden desert gem that only military people knew about. I love it there, but home values have been Californiaized and combined with taxes and fees, it is no longer an affordable retirement destination for most of us.

 

[broncorik]

I lived in Tucson in the 60s, again in the 70s and again in 01-02. Tucson was the hidden desert gem that only military people knew about. I love it there, but home values have been Californiaized and combined with taxes and fees, it is no longer an affordable retirement destination for most of us.

I think that is the issue...anywhere that is "typically" desirable for many (affordable/good weather/low taxes/safe/hospital/proximity to civilization/etc.) is no longer a secret. Everyone who leaves wherever they are to go to such places generally results in prices there going up. I bought a house in Sequim WA for 285 back in 2010, now it is 700 (and many people were/are moving there to avoid whatever it was where they used to live). 700 can buy a house in much more desirable places even in CA (not LA or SF or SD). Even in TN, where much of Buffalo has moved to, or NC, housing has exponentially gone up. If you are into 4 seasons, that absolutely opens things up...but for folks who are anti-winter weather, the options are drastically reduced. Have you checked out Grass Valley? Nevada City? Mild winters, warm (not hot) summers, and far less expensive than much of CA. Excellent for retired folks who seek amenities that are tough to find elsewhere.

 

[bmcgc]

I'm in middle GA now. We had a new house built 6 years ago. Four-sided brick, 1386sf, 10k in upgrades, we paid 162k. Value now is 240ish. At age 65 I pay no state income tax, 7% sales tax, $3045 property tax, and $1100 property insurance. Vehicle registration is $22.50 a year. It doesn't get much cheaper than that. I figure that AZ would cost me an extra 5-6k in year in taxes and fees.

 

[AZ_Craig]

I'm in middle GA now. We had a new house built 6 years ago. Four-sided brick, 1386sf, 10k in upgrades, we paid 162k. Value now is 240ish. At age 65 I pay no state income tax, 7% sales tax, $3045 property tax, and $1100 property insurance. Vehicle registration is $22.50 a year. It doesn't get much cheaper than that. I figure that AZ would cost me an extra 5-6k in year in taxes and fees.

Arizona was quite affordable until about 2014, and then stuff started to really rocket up. I lived in a 1571 square foot rental between 2009 and 2016 before doing a new build. The value likely bottomed out around $200k around 2011 in the heart of the housing crisis fall out and then started a steady march up around 2014. Long story short, the same house sold for $657k in 2022.

My new build was contracted in November 2015 and is worth around 2x what I paid for it. Income taxes cap at under 3 percent here now and property taxes are not too bad. Car tax is brutal if you have nice newer cars however (so much so that many wealthy collectors have shell corporations in Montana to register their vehicles under).

That being said, I doubt I could stomach buying a home here now for what you get for the money. I figure I will ride out my career for now and enjoy my 2015 cost basis and interest rate while people initiating new mortgages pay 2x or more what I do...

 

[broncorik]

I'm in middle GA now. We had a new house built 6 years ago. Four-sided brick, 1386sf, 10k in upgrades, we paid 162k. Value now is 240ish. At age 65 I pay no state income tax, 7% sales tax, $3045 property tax, and $1100 property insurance. Vehicle registration is $22.50 a year. It doesn't get much cheaper than that. I figure that AZ would cost me an extra 5-6k in year in taxes and fees.

GA has some really beautiful areas...when I was stationed in Florida I drove through many times. The property taxes seem higher in the East (a 500k house here is assessed for about 7k in property tax and the same amount you are paying for homeowner's insurance). My county here is 7% sales tax as well. The income tax, however, is definitely a huge consideration...especially for retirement. Seems like you are in an ideal place that ticks all you boxes!

 

[MOBLRN]

Why has this topic turned into a "Best place to live" topic and not changed the name of the topic?

 

[BroncoDymond88]

Because I set the original topic but I didn't veer it off ;-)

 

[broncorik]

Because I set the original topic but I didn't veer it off ;-)

Sorry for veering! Back to your original question, my experience (and the experiences of many) is used Bronco values have plummeted (unless an owner was fortunate enough to have sold theirs during the golden period during the pandemic or shortly thereafter) or unless an owner is lucky enough to find a buyer who is willing to pay a premium (versus researching the sea of used Broncos selling for a lot less than owners paid) there are plenty of folks (like me) who lost a crap ton of money selling.

 

[BroncoDymond88]

Hey no worries, I'm not opposed to good discussion!

 

[Soupflakes]

Interesting, but why is Blue Book so far off?

Because blue book is a trailing indicator, not a current. The market for cars is spiraling out of control down just like it went up. I just tried to work a deal with a guy who is asking more than i can get it new for a used one because thats what he owes. The market is crashing so quickly that blue book hasnt caught up yet. My local dealer said he wouldnt give the guy a trade over 43k and hes asking 58k for it. People who bought these above msrp are in real trouble for the next few years.

 

[IWDesertGuy]

I don't think I've EVER seen a dealer offer BlueBook value on a trade. In fact, every one of them has probably said to me "We don't go by BlueBook".

Totally concur. With the exception of COVID pandemic car pricing craziness, in 50+ years of buying and selling new and used cars, I have NEVER had any dealer offer or suggest anything close to KBB "Trade-In" values. Especially if they know the trade is going right to auction. Concur that most common response is, "We don't go off KBB. We have our own pricing guidelines.". In an over saturated market (and high interest rates) you can assume that these trade-in value forces are NOT working in your favor.

 

[DrewBronc21]

I usually use NADA fair condition trade in as a guide and you won’t know if they’ll take it until they say no and you walk out the door. also, get carvana , driveway, carvana, etc. estimates for a gauge on value.

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