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re: Insane housing market in TN
Posted on 2/25/22 at 4:30 pm to 3nOut
Posted on 2/25/22 at 4:30 pm to 3nOut
People can posture about saying no but if you’re moving why do you care?
I know some situations are different but in general, You might not get another offer and be left in limbo for months just to protect some neighbors that wouldn’t do the same for you?
When we sold it was to a less than exciting new buyer, another neighbor that had their house listed said they offered on his first and he “did the right then and said no” his house is still on the market and we’ve been gone for almost 4 months now.
I know some situations are different but in general, You might not get another offer and be left in limbo for months just to protect some neighbors that wouldn’t do the same for you?
When we sold it was to a less than exciting new buyer, another neighbor that had their house listed said they offered on his first and he “did the right then and said no” his house is still on the market and we’ve been gone for almost 4 months now.
3
Posted on 2/25/22 at 4:31 pm to LSU-MNCBABY
quote:
People can posture about saying no but if you’re moving why do you care?
because even if i'm moving across town, i care about Texas not turning into a shite hole
Posted on 2/25/22 at 4:47 pm to LSU-MNCBABY
quote:
You might not get another offer and be left in limbo for months just to protect some neighbors that wouldn’t do the same for you?
For a correctly priced house to set on the market for months in today’s environment, it would have to be in some rural middle of nowhere location where cooking meth was the main occupation.
Posted on 2/25/22 at 5:04 pm to LSU-MNCBABY
quote:
I know some situations are different but in general, You might not get another offer and be left in limbo for months just to protect some neighbors that wouldn’t do the same for you?
i'm as cynical as they come
but i really like my neighbors and all things being equal if i *can* sell to a local and there's a strong offer that is similar to an out-of-town offer i'm willing to leave a little money on the table in order to help a local out. the guy we're buying from did that for us so if we're not talking a massive difference in offers I plan to do the same thing in a heartbeat.
Posted on 2/26/22 at 11:59 am to EA6B
quote:
For a correctly priced house to set on the market for months in today’s environment, it would have to be in some rural middle of nowhere location where cooking meth was the main occupation.
i live in a historic neighborhood and there has been a rash of people remodeling and selling homes. we remodeled and stayed. we had some offers right after for $100k more than the new price after refinancing it and rolling some of the cost into a new mortgage.
one thing i've noticed is that has happened is somebody will do a flip, and then sell it a bit higher than i would ever pay, but not astronomical price in a short time. then somebody on their block will list their non-updated house at a similar price, it will sit for a month, then they'll drop it to a still high price and sell it immediately.
i'm in a town 50 miles north of Austin and 100 south of Dallas, so we're getting more Austin and DFW refugees here than CA or NY. it's a mixed bag. some escape here to get away from Austin and it's politics and behave accordingly. i met a dude that left San Francisco to Austin to escape crime, taxes, and homelessness. Then he left Austin for the same reason to come here. and then he had a Beto sign in front of his house.
Posted on 2/26/22 at 7:57 pm to 3nOut
quote:
i met a dude that left San Francisco to Austin to escape crime, taxes, and homelessness. Then he left Austin for the same reason to come here. and then he had a Beto sign in front of his house
They are like freakin locusts, they destroy me area, move, and do it again the next place they land.
Posted on 2/27/22 at 2:58 pm to 3nOut
The first house we offered on in Dallas virtually, expecting to see it the next day and up our offer anyway.
Neighbor had a Beto sign and I legit told me realtor we are out.
Unbelievable he’s trying AGAIN.
Neighbor had a Beto sign and I legit told me realtor we are out.
Unbelievable he’s trying AGAIN.
This post was edited on 2/27/22 at 3:04 pm
Posted on 2/27/22 at 6:02 pm to EA6B
quote:
They are like freakin locusts, they destroy me area, move, and do it again the next place they land.
The evidence posted is completely anecdotal and statistically not true, and I don’t want libs anymore than anyone.
It’s common sense people, if you want to be a lib why would you leave the lib Meccas of california and NY?
No one is moving on purpose from the country to change the big cities politicially. We need to put this rumor to bed already. It happens yes, but statistically they are more likely to be conservative.
The problems politically in places like Texas and Georgia is the big cities are growing faster than rural areas, which is not that crazy….big cities vote Democrat generally.
Posted on 2/27/22 at 6:05 pm to STLhog
quote:
Dude no one is buying “vacation” homes in Dallas and Nashville and some of the other core markets. Way too many people are moving to these places that have no infrastructure or housing.
Wrong. What I said was 2nd home and many are making it their primary residence while keeping their first home in somewhere else.
I disagree with Nashville anyway, really no different then Denver. Tons of 2nd homes there, or as I said primary residences while keeping another home somewhere else.
The reality is no one wants to live full time in places like Cali, NY, or up north but they like to have a home there and be there when it’s convenient for them.
ETA: additionally, a lot of what we are discussing is urban sprawl. A lot of people are buying second homes in the country, on the lake, etc. that may not be traditional vacation properties. This is decreasing inventory and raising prices for the primary residence buyers. Just because you own a million dollar home downtown, doesn’t mean you need a million dollar home on the lake. Tons of people with the pandemic are just looking for some fresh air to get away.
This post was edited on 2/27/22 at 6:07 pm
Posted on 2/28/22 at 11:11 am to baldona
quote:
No one is moving on purpose from the country to change the big cities politicially. We need to put this rumor to bed already. It happens yes, but statistically they are more likely to be conservative.
The problems politically in places like Texas and Georgia is the big cities are growing faster than rural areas, which is not that crazy….big cities vote Democrat generally.
1st, this isn't a political board, and i don't intend to make it so. my side is not always right. What works in Temple, TX where i live doesn't always work in Austin, nonetheless LA, SF, NYC, etc. I do not think somebody is wrong for their politics inherently because they vote differently than me. Somebody coming from SF to Austin to Temple simply has a different view on interactions with the government and its role than myself.
My anecdote is accurate and a true story. I have no reason to fabricate that.
My other anecdote is that almost everybody i've met that moved to this area from CA is conservative. I was at a youth church event and was talking to some dads newer to the church, 2 of them from CA. I didn't bring up politics at all but asked how they had liked the move. First thing the guy said was "Ted Cruz is the first person i've ever voted for that won office in 10+ years of voting." But this guy went straight from CA to conservative Temple, TX. Not to Austin. There was an interesting statistic in that election that Cruz won the election hands down from non-native Texans, but lost the election with native Texans.
I would wager that most people moving to Texas are 50/50 on their politics. On the flip side, i think that it's probably 70/30 (progressive/conservative) moving to Austin, DFW, SA, and Houston. My concern is a lot of those people get tired of the results of the politics of more urban areas and decide to move to smaller towns for the lower cost of living, crime and homelessness issues as given to my earlier anecdotal story.
Temple is a nice, boring, low cost of living, and sleepy town but a great place to raise a family. I'm grateful to live here. What's not great for my town is property values being driven up by people that don't like what their larger town has become and then escaping the consequences to come keep voting the same way. Even moreso, I don't like that people that live here and are local are getting outbid by out of town money. I'm not saying i want a law against out of towners or blackrock buying up property, i'm just saying that i would be conscious of who i am selling to within reason in today's market.
Posted on 2/28/22 at 3:43 pm to 3nOut
Fair points all around. I don't disagree with most of what Baldona said but I do stand by the poor inventory situation in Nashville.
Also many, many retiring boomers are buying homes for their bum kids or kids that just need help on the downpayment. 2009 to 2021 were pretty solid to most folks financially and if you were in the core years of your earnings, you probably wound up with a ton more cash than you were planning. It's allowing 25-30 year olds that make 70-120k to buy 750k/insane $/sq foot prices with ease. Thats also a big driver in these hot markets IMO.
Anyway, the future will be interesting.
We're under contract in Dallas so godspeed to everyone else out there and hopefully we close without a hitch. We bought on the low end of our budget and will pocket a lot of the proceeds from Nashville instead of trying to "move it on up" into a risky house.
Also many, many retiring boomers are buying homes for their bum kids or kids that just need help on the downpayment. 2009 to 2021 were pretty solid to most folks financially and if you were in the core years of your earnings, you probably wound up with a ton more cash than you were planning. It's allowing 25-30 year olds that make 70-120k to buy 750k/insane $/sq foot prices with ease. Thats also a big driver in these hot markets IMO.
Anyway, the future will be interesting.
We're under contract in Dallas so godspeed to everyone else out there and hopefully we close without a hitch. We bought on the low end of our budget and will pocket a lot of the proceeds from Nashville instead of trying to "move it on up" into a risky house.
This post was edited on 2/28/22 at 3:46 pm
Posted on 2/28/22 at 4:34 pm to STLhog
quote:
Fair points all around. I don't disagree with most of what Baldona said but I do stand by the poor inventory situation in Nashville.
We are basically agreeing. I understand that "inventory is low" as in there's not a lot on the market. But what I'm trying to point out is that's not caused by an external factor. There's not a major shortage of lumber or other restriction on the market causing a shortage of houses, such as a hurricane damaged a huge portion. Rates have stayed the same basically, is not like they have dropped significantly in the past 2 years.
Our population has not exploded, its not like people lived with each other for 10 years from 2005 to 2015, or any other odd factor. Yes "tradesman" are in high demand so maybe houses could be built faster.
But the biggest reason to me is simply that a high percentage of people are buying 2nd properties. Whether it be investments, vacation property, or whatever. Maybe institutions too, but the thing about institutions buying them is I don't think they are leaving them empty, so someone is renting them? So that can't be a major cause either as its not a home off the market completely.
Posted on 3/1/22 at 10:46 am to CAD703X
Recently accepted a job offer to move to Nashville. Obviously we are wanting to be in Williamson county for the schools (two young boys). After reading your threads, I am now terrified. 
Posted on 3/1/22 at 11:26 am to Meauxjeaux
Most of the Cali people moving to Texas are as conservative as the natives. An exception is Austin, but people do their homework on politics before moving their family somewhere ultra liberal or conservative.
There is no grand conspiracy to turn Texas into Cali East.
There is no grand conspiracy to turn Texas into Cali East.
Posted on 3/1/22 at 11:30 am to TejasHorn
quote:
Most of the Cali people moving to Texas are as conservative as the natives. An exception is Austin, but people do their homework on politics before moving their family somewhere ultra liberal or conservative.
as said earlier, this is my experience. i'm way more weary of somebody moving to Temple from Austin than i am somebody moving from CA.
quote:
There is no grand conspiracy to turn Texas into Cali East.
that is inaccurate, but it's the native liberals wanting that, not the transplants.
Posted on 3/1/22 at 11:33 am to Hunter6868
quote:depends on your budget; check south of fairview and east of i65 where the prices are a bit better.
Recently accepted a job offer to move to Nashville. Obviously we are wanting to be in Williamson county for the schools (two young boys). After reading your threads, I am now terrified
my advice is to bookmark houses you like right now that are on the market and note the selling price. circle back in a month or so and see what they actually sold at (usually 10-15% over list) so you can budget accordingly.
do NOT look at the list price and assume thats what you're going to pay. if you find an area you like see what the last 3-4 houses have gone for so you'll be prepared.
if you have the stomach for it, keep in mind you'll have to make an offer right away or it will be gone in hours.
2 things
- you will have a huge leg up if you're here and can run over and check the house out as soon as its listed. lots are going up as 'coming soon' to get people excited so you can at least drive by (but not go in) a few days ahead of time to get a feel for whether or not you want to jump into the fray and make an offer or if you're not 'feeling it'.
- meeting the seller's realtor and shaking hands and presenting a good solid offer can counter some of these 'phone call from 3,000 miles away' offers. sellers like to know who they're making a deal with.
williamson county is tops for schools for sure, but if it is too much, try somehwhere like dickson or columbia where you're still fairly close to town.
good luck and i can offer a little anecdotal advice based on my experience or maybe itneverrains will show back up one day
and make a post. he's a realtor in williamson county and can give you much better advice than i can.This post was edited on 3/1/22 at 12:02 pm
Posted on 3/1/22 at 4:11 pm to CAD703X
North Alabama is about the same. Moved in to a 3100 sqft house in 4/2014 for 280K. Now this same house markets for close to 420K. It's insane.
Posted on 3/1/22 at 4:56 pm to CAD703X
Sell and rent a condo or townhouse until the market settles down.
Posted on 3/1/22 at 5:01 pm to TimeOutdoors
quote:thats not going to happen anytime soon.
Sell and rent a condo or townhouse until the market settles down.
huge tech companies are relocating here so the squeeze is only accelerating. i dont see anything slowing down for a couple years or longer at least.Posted on 3/2/22 at 11:25 am to TimeOutdoors
quote:
Sell and rent a condo or townhouse until the market settles down.
And pay 1-2k over what you're mortgage would be? That's just pissing away cash with no equity at all.
We thought about it and its not a solid strategy in places like Dallas or Nashville.
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