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Real Estate Market
Posted on 4/9/24 at 8:36 pm
Posted on 4/9/24 at 8:36 pm
I recently closed on a house. The real estate agent I have been dealing with over the past few months told me today that she has been busy as hell the past month with all sorts of buyers wanting to see/purchase houses. It surprised me given the interest rates and inflation.
What gives? I am glad the market is hot but it just does not make sense to me.
What gives? I am glad the market is hot but it just does not make sense to me.
17
Posted on 4/9/24 at 8:39 pm to Mariner
Maybe buying now and hoping Trump gets in and refinance.
Posted on 4/9/24 at 8:45 pm to Mariner
Different from what I'm seeing in my area. Houses are selling if they are priced right but I'm seeing a ton of new inventory popping up everyday and a lot of prices are being reduced after they have been sitting a month or so. Not a realtor, just a person looking on websites daily
Posted on 4/9/24 at 9:27 pm to Mariner
Maybe people have cash and have been waiting for the prices to moderate?
Posted on 4/9/24 at 9:47 pm to Mariner
May-August is prime selling season. I generally make 20-25% of my income in July alone. Houses going under contract now are late May or early June closing.
I’ve got 5 under contract atm, which is actually a little below average.
I’ve got 5 under contract atm, which is actually a little below average.
Posted on 4/10/24 at 3:54 am to Mariner
It’s never a bad time to buy real estate provided you can afford it. People that have been sitting out waiting on a ‘crash’ have lost tons of buying power and equity. If you are buying something you are planning to stay in for a long time does it even matter if there is a ‘crash’? Real estate prices go up and down over time same as it ever was.
Posted on 4/10/24 at 5:29 am to Mariner
Seeing the same around Texas.
Buyers have started to realize rates aren’t going back to the fairyland levels of the 2010s. Rent has been going up while home prices and rates have stabilized (albeit at higher levels than we got used to).
Buyers have started to realize rates aren’t going back to the fairyland levels of the 2010s. Rent has been going up while home prices and rates have stabilized (albeit at higher levels than we got used to).
Posted on 4/10/24 at 6:51 am to Mariner
I’m going through a divorce right now and I just sold my house and looking for another. Where I live in SC, houses that are 235K or lower are selling fast. Depending on the area, houses that are 235-250K are selling fairly quick also.
Posted on 4/10/24 at 6:55 am to Mariner
Market extremely hot here too. Most places go in first couple weeks. Neighbors down the street had offers including a $13k over asking offer before the 1st open house which was going to happen on the 2nd weekend it was on the market.
I dont really get it either but the supply of houses is still really small so things will go fast due to demand still.
I dont really get it either but the supply of houses is still really small so things will go fast due to demand still.
Posted on 4/10/24 at 6:55 am to Mariner
Some times when a woman says she is busy it doesn’t mean she is busy making sales and making money.
Posted on 4/10/24 at 7:59 am to Mariner
Car salesmen always say the same thing to shoppers.
Posted on 4/10/24 at 9:32 am to Mariner
The New Orleans market doesn’t make sense. I see houses listed every day for 15% higher than they were purchased for 3-4 years ago when the notes were probably half due to interest rates and insurance changes. It’s like the scum agents are just throwing things out there hoping people will panic and buy.
Posted on 4/10/24 at 4:05 pm to Mariner
People are still sitting on fat equity stacks and market has stomached rates realizing they won't get back to their current and life changes.
Posted on 4/11/24 at 8:31 am to Mariner
Just entered the time of year that is typically the most active.
Buyers needed time to accept new normal on rates.
Some buyers were holding out to see if rates would drop. Confidence in that happening has dropped for multiple months. Staying flat is now the leading prediction.
Sell prices stabilized some and not going up as fast. Although I have seen them start to rise again in the past month or so. But sell prices are very regional, so that may be different where you live.
Buyers needed time to accept new normal on rates.
Some buyers were holding out to see if rates would drop. Confidence in that happening has dropped for multiple months. Staying flat is now the leading prediction.
Sell prices stabilized some and not going up as fast. Although I have seen them start to rise again in the past month or so. But sell prices are very regional, so that may be different where you live.
Posted on 4/11/24 at 8:48 am to Mariner
Anecdotally much different from what I see
Very few listings
Of the agents I’ve talked to, they say that buyers are waiting until the rates drop which the fed keeps promising. Some buyers could also be waiting until July for the commission to hit
Also, sellers tend to sit tight when they have a good mortgage rate so that could explain the low inventory
Very few listings
Of the agents I’ve talked to, they say that buyers are waiting until the rates drop which the fed keeps promising. Some buyers could also be waiting until July for the commission to hit
Also, sellers tend to sit tight when they have a good mortgage rate so that could explain the low inventory
Posted on 4/11/24 at 1:31 pm to Mariner
People gotta live somewhere. There is still an inventory deficit, even though prices and interest cooled it off a bit.
Posted on 4/25/24 at 7:33 am to Mariner
It’s all relative
Maybe people realizing that prices will only escalate once rates start to drop.
Maybe people with cash.
Maybe people just need a house.
I think people waiting for a residential market crash are going to be frustrated.
Saw similar stuff on the 80’s and prices shot up when rates came down.
Maybe people realizing that prices will only escalate once rates start to drop.
Maybe people with cash.
Maybe people just need a house.
I think people waiting for a residential market crash are going to be frustrated.
Saw similar stuff on the 80’s and prices shot up when rates came down.
Posted on 4/27/24 at 10:19 am to Mariner
People have to live somewhere. Rents always catch up to mortgage payments.
The glut of 2008-2010 has rebounded to an overall housing shortage still.
People are realizing that interest rates can vary and improve. The price of the house is a sunk cost. If interest rates were to magically reduce a percentage point, the demand would cause home price to increase, rapidly.
The glut of 2008-2010 has rebounded to an overall housing shortage still.
People are realizing that interest rates can vary and improve. The price of the house is a sunk cost. If interest rates were to magically reduce a percentage point, the demand would cause home price to increase, rapidly.
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