- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
1
Posted on 9/22/22 at 3:17 pm to stout
I doubt prices go down that much.
Why?
Because inventory will stay low with everyone sitting on their rock bottom interest rates.
Why?
Because inventory will stay low with everyone sitting on their rock bottom interest rates.
This post was edited on 9/22/22 at 3:18 pm
Posted on 9/22/22 at 3:17 pm to teke184
quote:
The problem is when circumstances arise that make you cash out while the property is underwater.
Even then, you have to figure the opportunity cost of rent payments. I'm trying to time the market with purchasing a house in the next year; however I'm not going to lose my mind if it dips 50k or more right away because again, that's what 2 years of rent?
Posted on 9/22/22 at 3:18 pm to Kingpenm3
Paid asking in April of this year.
Not too worried even though there is a chance we will have to move sometime in the next 2-3 years.
Sold my last house for about a 45% gain in only 3.5 years so can’t complain too much.
Not too worried even though there is a chance we will have to move sometime in the next 2-3 years.
Sold my last house for about a 45% gain in only 3.5 years so can’t complain too much.
Posted on 9/22/22 at 3:20 pm to RATeamWannabe
quote:
tell me when to buy, daddy, i got the equity to cash out and scoop up some stuff
You should have done that before rates doubled.
Posted on 9/22/22 at 3:21 pm to stout
Cant wait to get a cheap house
Posted on 9/22/22 at 3:22 pm to BeepNode
quote:
You don't understand what market rate means.
It doesn't mean shite for most people because most people dont actually sell their house just because the value goes up, which is the only way paying a premium over a long period of time makes any sense.
Posted on 9/22/22 at 3:30 pm to Tiger Ryno
quote:
People with large equity should be more nervous
No, they shouldn't.
COVID caused the housing market to overheat, these artificially high prices were always going to correct downward. Always. The only reason anyone with lots of home equity should be nervous is if they are thinking of re-financing (that ship has largely sailed) or if they were planning on selling within the next 3-4 years. Everyone else will feel lower property taxes until prices come back up (and they will).
Posted on 9/22/22 at 3:36 pm to stout
This is why we chose not to purchase in July 2021 when we moved to SW Florida and extended our lease until next August. It feels like we made a good decision.
Posted on 9/22/22 at 3:37 pm to VABuckeye
Does anyone think that banks and mortgage companies will start shutting HELOCs down like they did in 2009 and 2010? I can certainly see it happening. Ah, those funds you wanted to draw? Fuggetaboutit.
Posted on 9/22/22 at 3:40 pm to stout
Yeah I’m so mad I “overpaid” for my new house in 2021 with a 2.8% rate instead of waiting until 2022 with 6+% rates 
Posted on 9/22/22 at 4:44 pm to BoudinChicot
quote:
Because inventory will stay low with everyone sitting on their rock bottom interest rates.
Exactly. This is absolutely nothing like 2008, unless you expect the market to suddenly be flooded with foreclosures.
Posted on 9/22/22 at 4:45 pm to BeepNode
quote:If you got a $600k house at 2.5% in 2021, you have the same note as someone who buys $400k at 6%+ today
The interest rates were so low that their monthly notes are probably still lower than someone buying a house today.
Posted on 9/22/22 at 4:48 pm to stout
Why would you be nervous if you have a 2% rate?
100% they are already cutting ltv
quote:
Does anyone think that banks and mortgage companies will start shutting HELOCs down like they did in 2009 and 2010? I can certainly see it happening. Ah, those funds you wanted to draw? Fuggetaboutit.
100% they are already cutting ltv
This post was edited on 9/22/22 at 4:49 pm
Posted on 9/22/22 at 4:56 pm to teke184
quote:I know where we are these people saild for 1.5 million back home, came here paid $710 for a home listed for 600k cash so they are not concerned.
The idiots who paid massively over asking price with cash offers, which is what I’m referring to, are the people who this applies to.
A lot of these individuals moved from CA, NY, NJ, CT, etc, and set up shop in TX, TN, FL, etc, and paid a major premium to do so.
Posted on 9/22/22 at 4:59 pm to PikesPeak
quote:
If you got a $600k house at 2.5% in 2021, you have the same note as someone who buys $400k at 6%+ today
Yeah but if you needed to sell for any reason - job move, extended unemployment etc you'd be eating the difference.
This post was edited on 9/22/22 at 5:00 pm
Posted on 9/22/22 at 5:03 pm to fallguy_1978
quote:
Yeah but if you needed to sell for any reason - job move, extended unemployment etc you'd be eating the difference.
Why would you sell
Just rent it with that rate/payment
Posted on 9/22/22 at 6:00 pm to Pettifogger
quote:We almost bought a home in Northern Seminole County back in 2004 but had a guardian angel nixing that. Someone I worked with bought in the same year and 5 years later the home value dropped by 50%. A big selling point was "values have only gone up here despite what the rest of the market is doing". 5 years later we bought a house in the Midwest and got twice as much house for the same amount of money. We'll probably ride out the recession after the kids move out and headed back south after selling this house.
If you overpaid in new build suburbia where there are vacant neighborhood tracts all around and nothing to keep that area inherently hot/desirable/inflated, then yeah, you're probably worried. These places (think new growth burbs in central FL, Phoenix, Vegas, Atlanta, etc.) took a bath.
Posted on 9/22/22 at 6:05 pm to stout
20% would be a swift kick in the crotch, but I won't be underwater by a long stretch.
Posted on 9/23/22 at 1:37 am to stout
Asking price may as well be a plug figure and has no place in a discussion on whether or not the buyer got a good deal.
Page 5 of 6
Popular
Back to top
Follow TigerDroppings for LSU Football News