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re: Mortgage applications/buyer demand dropped to a 28-year low
Posted on 2/22/23 at 5:55 pm to stout
Posted on 2/22/23 at 5:55 pm to stout
My uncle is a realtor in Texas and he said aside from the rates as you mentioned, people still think they can get 2020/2021 money for their house and they just sit for months.
6
Posted on 2/22/23 at 5:57 pm to Areddishfish
Houses in my neighborhood are still selling for $30,000 more than they were in 2020
I’m pissed I’m going to potentially miss that boat
I’m pissed I’m going to potentially miss that boat
Posted on 2/22/23 at 5:57 pm to Areddishfish
Have a neighbor that doesn’t understand why his house hasn’t sold. Well it’s overpriced and dated but he refuses to believe it and it’s been several months. Doesn’t think he should concede on price Good ole overvaluing your own home syndrome.
Good ole overvaluing your own home syndrome. 
Posted on 2/22/23 at 5:57 pm to Areddishfish
quote:can confirm. Some guy tried selling me a house last summer for 250k whereas I felt like paying 180 would’ve been over paying. Just a 3 bed 2 bath with a man cave attached and an in ground pool. Nothing spectacular
My uncle is a realtor in Texas and he said aside from the rates as you mentioned, people still think they can get 2020/2021 money for their house and they just sit for months.
Posted on 2/22/23 at 6:01 pm to Areddishfish
quote:
people still think they can get 2020/2021 money for their house
Q1/Q2 of 2022 was bat shite crazy here in Austin.
Bat.
shite.
Crazy.
Posted on 2/22/23 at 8:41 pm to Areddishfish
They had a house on the market for 140 days listed at like $380k (new build)
Told our realtor to ask if the listing realtor if we should even bother putting in an offer for $350k. They said no.
I said well tell them it can sit on the market another 140 days.
We have a 2.6% interest rate, but the wife is wants a new house, but I refuse to overpay
Told our realtor to ask if the listing realtor if we should even bother putting in an offer for $350k. They said no.
I said well tell them it can sit on the market another 140 days.
We have a 2.6% interest rate, but the wife is wants a new house, but I refuse to overpay
Posted on 2/22/23 at 10:57 pm to Areddishfish
quote:
My uncle is a realtor in Texas and he said aside from the rates as you mentioned, people still think they can get 2020/2021 money for their house and they just sit for months.
I have noticed this. There are houses listed for almost a year now where the seller hasn't come off the price. All the people who were cash heavy or could lock in a loan at a good interest rate in 20/21 did and bought a home already. Interest rates are up now and demand is down. Lots of buying opportunities in the near future if you have or come into money.
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