Lumber Prices

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Eugene
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Lumber Prices

Postby Eugene » Fri May 14, 2021 8:45 am

Been putting off several construction projects due to lumber prices. Local prices up 200 to 250%. Advertised prices vary a bit, $10- for a 2x4x8. Add in the sales tax and my travel/transportation costs. Expensive.

Have standing, decent sized Virginia red cedar. Need 6x6's for vertical supports for son's deck expansion. Cost of pressure treated 6x6's would pay for the purchase of an Alaskan saw mill.
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Re: Lumber Prices

Postby Mht » Fri May 14, 2021 10:18 am

I run a home repair and remodel business. Lumber prices are out the roof. I was picking up some materials the other day and a sheet of osb 4x8x7/16 was 48 dollars a sheet. A year and a half ago they cost 6.50. A box of nails for my trim gun that was 27 dollars a year ago are now 47. I’m amazed that any new houses are being built right now and kinda surprised that my workload is still where it’s at. I’m in the same boat as you in that I have several building projects at my farm that I’ve had to put off because of prices. I’ve been looking for a bandsaw mill for over a year and the wait time for a new mill is 6 plus months and used mills are bringing new mill prices if you can even find one. An Alaskan mill would work great for milling a few 6x6’s and eastern red cedar heartwood will most likely outlast pressure treated yellow pine. Depending on your local inspections department it might not be worth the hassle to use non grade marked though

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Re: Lumber Prices

Postby Eugene » Fri May 14, 2021 10:40 am

Mht wrote:I’m amazed that any new houses are being built right now and kinda surprised that my workload is still where it’s at.
Linn, Mo. is the home of the State Technical College of Missouri. State Tech is expanding along with the student population.

Most new construction has been in multiplex rentals. I think low interest rates are fueling or maintaining local construction.

No local building inspections.

By the way. Send you kids or grandkids to the local tech schools, even if they want to be a brain surgeon. 2 years tech school, about 2 years worth of credit at 4 year university. While at the 4 year university they can pay for their education with the associates degree and still have spending money.

Conversation the other day. Local grandfather had attended is grandson's graduation, heavy equipment operator. Grandson's starting wage, $58- an hour.
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Re: Lumber Prices

Postby SamsFarm » Fri May 14, 2021 11:00 am

No way would I do a building project now with these prices!!!

Mht wrote: Depending on your local inspections department it might not be worth the hassle to use non grade marked though


While I would not want to take away someones right to have a building permit and their "inspections"!

I want the right to decline "permits" and their so called "inspections"!

I have no desire to play the control freak, cash grab game!

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Re: Lumber Prices

Postby Don McCombs » Fri May 14, 2021 4:00 pm

SamsFarm wrote:No way would I do a building project now with these prices!!!

I guess that means you’re assuming that the prices will come down at some point in the future? I don’t think I’d hold my breath.
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Re: Lumber Prices

Postby Eugene » Sun May 16, 2021 12:04 pm

Don McCombs wrote:
SamsFarm wrote:No way would I do a building project now with these prices!!!

I guess that means you’re assuming that the prices will come down at some point in the future? I don’t think I’d hold my breath.
I'm wishing/hoping that the lumber price will drop in the short term future.

https://www.reuters.com/business/us-tra ... 021-05-16/
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Re: Lumber Prices

Postby John *.?-!.* cub owner » Sun May 16, 2021 2:07 pm

I was at local lumber/hardware store and overheard manager talking to a customer a couple days ago He stated he had just gotten new price list, and cost was going to over $20 per each precut stud.
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Re: Lumber Prices

Postby SamsFarm » Sun May 16, 2021 2:32 pm

I dont believe that the prices are sustainable.

I know life is short, but if everybody quits buying and only buy for emergency repairs, the price would fall like a rock!

I am so glad I am not fresh out of school, trying to make my way in the world with crazy price swings like this (building supplies and ammunition)!

I wish you all well with this! :)

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Re: Lumber Prices

Postby Stanton » Sun May 16, 2021 4:00 pm

Don McCombs wrote:
SamsFarm wrote:No way would I do a building project now with these prices!!!

I guess that means you’re assuming that the prices will come down at some point in the future? I don’t think I’d hold my breath.


Your thought crossed my mind...along with the phrase: “new normal”. Sure hope I’m wrong.
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Re: Lumber Prices

Postby Mht » Sun May 16, 2021 5:59 pm

It’s not just lumber. My nephew works for a a large plumbing supply outfit. In January a tractor trailer load of pvc pipe would cost a customer 10k Current cost to a customer for that same tractor trailer load of pipe is 46k.

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Re: Lumber Prices

Postby Eugene » Sun May 16, 2021 10:47 pm

I purchased a property tax lien on a house in August 2020. I will get the Collector's Deed in late August 2021, unless the property owner and one lien holder pay my cost, plus 10% for my initial payment, and 8% for my additional costs.

Son and I did an initial assesment of the property. Estimating $30K to $40K to bring the house up to marketable standards. That would leave us $20K or more profit.

Currently, additional material costs would negate any profit. -- That's considering current market values.

I currently have several options. 1) Local city will perhaps accept the property as a cost free gift to build a park or water tower. - OK! I lost a couple of thousand. 2) Pay a bit more property tax and return the property to the county. - Still lost a couple thousand. 3) Clean up the house and property, waiting for construction material prices to come down and property values to increase. This last choice could get very expensive considering I would have to put insurance on the property, pay taxes, and improve the property while waiting.
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Re: Lumber Prices

Postby Don McCombs » Mon May 17, 2021 6:46 am

Don't forget the potential for vandalism of an unoccupied house for #3. You may not even be able to insure an unoccupied property.
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Re: Lumber Prices

Postby Stanton » Mon May 17, 2021 6:51 am

Was having dinner yesterday with my brother-in-law who works at Home Depot in the commercial building department. I asked if he's seen a drop recently in material and lumber due to inflated prices. He said that's not what he's seen. Builders are still buying and building, passing the cost along to the owners. He said people who flip houses are now paying inflated market level prices on run down homes--due to the tight real estate market--and then have to buy materials to fix them up at inflated prices, which dramatically raise the price of the end product. Faced with that, many have chosen to go ahead and build new houses.
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Re: Lumber Prices

Postby Eugene » Mon May 17, 2021 11:39 am

Stanton wrote:People who flip houses are now paying inflated market level prices on run down homes--due to the tight real estate market--and then have to buy materials to fix them up at inflated prices, which dramatically raise the price of the end product.
Son and I have been looking for a fixer upper house for a while. Found one near my house. Talked to the owner. She wants $56K for it.

Research. Tax Assessor's office for a copy of their sheet on the property. It's a one story car garage that was split off the original property, no basement.

Using the Assessor's sheet on the property to figure out the assessment value. $26K, that's pretty close to the actual value.

Next topic. Several months back the County Assessor had an article in the local paper. Assessor suggested visiting his office before purchasing a house because people were paying greatly inflated prices for real estate. End result is that because people are paying inflated prices for real estate, property taxes are going up.
I have an excuse. CRS.

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Re: Lumber Prices

Postby Stanton » Mon May 17, 2021 11:52 am

Eugene wrote:
Stanton wrote:People who flip houses are now paying inflated market level prices on run down homes--due to the tight real estate market--and then have to buy materials to fix them up at inflated prices, which dramatically raise the price of the end product.
Son and I have been looking for a fixer upper house for a while. Found one near my house. Talked to the owner. She wants $56K for it.

Research. Tax Assessor's office for a copy of their sheet on the property. It's a one story car garage that was split off the original property, no basement.

Using the Assessor's sheet on the property to figure out the assessment value. $26K, that's pretty close to the actual value.

Next topic. Several months back the County Assessor had an article in the local paper. Assessor suggested visiting his office before purchasing a house because people were paying greatly inflated prices for real estate. End result is that because people are paying inflated prices for real estate, property taxes are going up.


Yeah, the real estate market is so tight right now, that people are paying inflated prices to get what they want (i.e. a house). They're not considering the higher taxes down the road. Some houses in KC are being bid on during the realtor process with houses selling for far more than the original asking price.
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