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This crazy real estate market
Posted on 1/13/22 at 7:04 pm
Posted on 1/13/22 at 7:04 pm
Before I could get house listed in ATL suburbs had an offer at asking price and no closing costs after a 20 minute walk through. Asking price was 60% above appraisal 2 years ago and 110% above 10 years ago.
First time homeowner/buyer getting a loan at 3.1% for 30 years on 420k with 10% down.
Moving back to my hometown (more rural area) and wanted to downsize or rent for a while. Not a single home on market under $250k (that isn’t under contract).
Some point..this has to crack.
First time homeowner/buyer getting a loan at 3.1% for 30 years on 420k with 10% down.
Moving back to my hometown (more rural area) and wanted to downsize or rent for a while. Not a single home on market under $250k (that isn’t under contract).
Some point..this has to crack.
26
Posted on 1/13/22 at 7:06 pm to RealDawg
quote:
Some point..this has to crack.
Not when the guberment keeps printing money. The dollar ain’t worth shite nowadays. It will be like the peso soon.
Posted on 1/13/22 at 7:06 pm to RealDawg
quote:
Some point..this has to crack.
It will at some point, but we've been hearing this for quite a long while now.
Interest rates will rise, and it will eventually cool down.
Posted on 1/13/22 at 7:13 pm to RealDawg
quote:
Some point..this has to crack.
this board has been saying real state would crash since 2016, ignore everything you hear here
Posted on 1/13/22 at 7:15 pm to RealDawg
Just sold our rental house. 100k more than what it was purchased for in 2018. 20k over asking price.
Had 9 offers the day we listed it as coming soon.
Had 9 offers the day we listed it as coming soon.
Posted on 1/13/22 at 7:23 pm to RealDawg
Zillow has our house at 30% over what we bought it for last year. I thought that was BS until my neighbor just sold her house. Our house is bigger and more up to date but without a pool. Based on her sale price I think the 30% may be a little low.
This post was edited on 1/13/22 at 7:24 pm
Posted on 1/13/22 at 7:26 pm to RealDawg
A market acting predictably during a period of high demand isn’t ‘crazy’.
Our dumbed down society only knows how to describe things as ‘crazy!’ or ‘insane!’
Our dumbed down society only knows how to describe things as ‘crazy!’ or ‘insane!’
This post was edited on 1/13/22 at 7:30 pm
Posted on 1/13/22 at 7:33 pm to RealDawg
When it does fail we will hear the whining from the banks who are going to be holding the notes in these overpriced properties.
Too big to fail all over again.
Too big to fail all over again.
Posted on 1/13/22 at 7:50 pm to RealDawg
quote:
Some point..this has to crack.
The market can stay irrational longer than you can stay solvent. Especially when being pumped with trillions of fake money.
Posted on 1/13/22 at 7:52 pm to RealDawg
My clients bought a house in June 2020 for 955. Accepted a better job out of state, I’m putting it on the market for 1.4. I anticipate multiple offers. Absolutely nuts right now.
Posted on 1/13/22 at 7:54 pm to RealDawg
quote:please explain why and be as specific as possible
Some point..this has to crack.
Posted on 1/13/22 at 8:03 pm to RealDawg
Real estate market will appreciate 10% minimum in 2022.
Fed will increase interest rates at least twice this year to slow it down.
Fed will increase interest rates at least twice this year to slow it down.
Posted on 1/13/22 at 8:06 pm to RealDawg
Sounds like you left money on the table.
If I had numerous offers the day I put it on the market, then I would seriously be questioning how much I’m leaving on the table.
If I had numerous offers the day I put it on the market, then I would seriously be questioning how much I’m leaving on the table.
Posted on 1/13/22 at 8:08 pm to RealDawg
How long until a good interest rate on a 30 year mortgage is 8%+?
Posted on 1/13/22 at 8:15 pm to RealDawg
My home value here in Montana has increased more than 200% since purchasing in Oct 2018. Nuts.
Posted on 1/13/22 at 8:19 pm to RealDawg
I got texted about selling my house today. Carpetbaggers abound.
Posted on 1/13/22 at 8:19 pm to RealDawg
If you need another reason to believe the phrase "it's cheaper to keep her," this real estate market subscribes.
Bought my house 2 years ago and it appraised 60k higher than what we paid.
I now owe the soon to be ex wife 30k in equity to buy her out, as opposed to a few grand under the previous appraisal when we purchased.
She was a miserable soul sucking bitch. The cost is worth every penny, but none the less something to consider.
Bought my house 2 years ago and it appraised 60k higher than what we paid.
I now owe the soon to be ex wife 30k in equity to buy her out, as opposed to a few grand under the previous appraisal when we purchased.
She was a miserable soul sucking bitch. The cost is worth every penny, but none the less something to consider.
Posted on 1/13/22 at 8:23 pm to RealDawg
We refinanced this summer. My house increased in value by 100k in just 3 years. Not mad at it. I never plan to move. But it’s nice to know some equity exists in a bind.
Posted on 1/13/22 at 11:02 pm to RealDawg
I bought a house in Roswell in 2014 for $113 sq ft. Sold it in 2017 for $131 sq ft. It has since sold twice for $145 sq ft and $172 sq ft, respectively.
We moved to a lower priced market when we left, so felt like we were making out like bandits at the time.
Should have rented that bitch for a few years and sold it now. Hindsight being 20/20.
We moved to a lower priced market when we left, so felt like we were making out like bandits at the time.
Should have rented that bitch for a few years and sold it now. Hindsight being 20/20.
Posted on 1/14/22 at 12:26 am to RealDawg
Black rock is going to dominate if this continues. These rental communities are just another step towards socialism.
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