quote:
Gonna have some people seriously in their feelings when the house they bought during Covid doesn’t appraise for anything close to what they bought it for

Could be true for people that speculated, went the AirBnB route, etc. But mostly, buyers during Covid locked in extremely low rates and have already seen big increases in home values. I was in the market in 2020, and based on what I was looking at, prices are a lot higher now.

This post was edited on 4/3/24 at 11:06 am

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Posted by Dawgfanman

Member since Jun 2015

22786 posts

Posted on 4/3/24 at 11:05 am to SloaneRanger

quote:
I was in the market in 2020, and based on what I was looking at, prices are a lot higher now

It’s very likely that prices will be considerably higher in 2028 than they are in 2024, especially if rates are lower.

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Posted by LouisianaLady

Member since Mar 2009

81318 posts

Posted on 4/3/24 at 11:20 am to SloaneRanger

quote:
Could be true for people that speculated, went the AirBnB route, etc. But mostly, buyers during Covid locked in extremely low rates and have already seen big increases in home values. I was in the market in 2020, and based on what I was looking at, prices are a lot higher now.

Our old neighbor sold his house during Covid for exponentially more than he paid for it just a few years prior, which we thought would never be beat. Welp. New owners kept it like 1-2 years and just sold it a few weeks ago for $35k more than they paid.

Our old house next door is closing soon full cash sale being purchased by parents sending their kid to LSU for her to live in. Now it did sit for a full year before serious offers came in, but still pretty crazy considering interest rates/economy.

This post was edited on 4/3/24 at 11:23 am

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