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Potential home buyers in the future market.
Posted on 5/20/20 at 3:02 pm
Posted on 5/20/20 at 3:02 pm
The next two quarters of 2020 could yield some great opportunities to renters and first time home buyers. Home values should hit a decline with the market getting flooded with foreclosures and people looking to get out from under house notes.
I purchased my first two houses in an area just starting to grow during the down market. Sold the first one and doubled my money and may look to do again.
Anyone else looking to strike?
I purchased my first two houses in an area just starting to grow during the down market. Sold the first one and doubled my money and may look to do again.
Anyone else looking to strike?
22
Posted on 5/20/20 at 3:03 pm to AUriptide
How you gonna buy with no job?
Posted on 5/20/20 at 3:04 pm to AUriptide
Naw, if a wonderful opportunity avails itself I’ll probably pass on it.
I’ve got enough already.
Money Bored
I’ve got enough already.
Money Bored
Posted on 5/20/20 at 3:04 pm to AUriptide
I don’t suspect we will see that decline until late 4th quarter and 1st qtr 2021. I do agree that you should have some good opportunities!
Posted on 5/20/20 at 3:06 pm to AUriptide
I'm shooting to buy my first one in 2021, hopefully the market is still good for buyers then.
Posted on 5/20/20 at 3:09 pm to AUriptide
I don’t see how renters will benefit. If people are selling en masse (good buying opportunity), it is very likely these sellers will then be renting. Thus, increasing rental demand. Why would rental prices not rise accordingly?
Posted on 5/20/20 at 3:22 pm to AUriptide
I was originally planning to buy my first house sometime around next summer, but may move that up to the fall if the right opportunity becomes available.
Posted on 5/20/20 at 3:22 pm to AUriptide
20% down and 700 credit score, you have no problem.
Posted on 5/20/20 at 3:25 pm to AUriptide
Was going to buy when my lease ends in August but can’t decide if I should wait another 12 months in case things bottom out some.
Posted on 5/20/20 at 3:27 pm to AUriptide
I would want to know the percentage of people laid off that were actually homeowners
In April the supply of homes for sale actually went down (granted its still early)
Eta: and with the potential for a rebound sooner rather than later, coupled with the forbearance and relief efforts from mortgage services, I’m not sure we’ll see the surge of foreclosures like in 08-09
In April the supply of homes for sale actually went down (granted its still early)
Eta: and with the potential for a rebound sooner rather than later, coupled with the forbearance and relief efforts from mortgage services, I’m not sure we’ll see the surge of foreclosures like in 08-09
This post was edited on 5/20/20 at 3:33 pm
Posted on 5/20/20 at 3:28 pm to AUriptide
You'll need at least 20% down payment firm. Maybe more. The banks aren't going to risk financing more than the balance of that. And interest rates will rise to mitigate the risk. But housing is a lot like crawfish, somehow, against all reason the prices stay high.
Posted on 5/20/20 at 3:34 pm to AUriptide
Closing on mine June 9 but it could be a little bit earlier. Did an FHA loan 3.5% interest rate at 3% down
Posted on 5/20/20 at 3:36 pm to AUriptide
quote:absolutely
Anyone else looking to strike?
Posted on 5/20/20 at 3:38 pm to AUriptide
Read an article last week with an interesting take.
Baby Boomers will set a record in 2020 with divorces.
The article stated that this will lead to a plethora of family homes on the market. While at the same time creating greater demand for condos and small high end houses.
Baby Boomers will set a record in 2020 with divorces.
The article stated that this will lead to a plethora of family homes on the market. While at the same time creating greater demand for condos and small high end houses.
Posted on 5/20/20 at 3:56 pm to AUriptide
A lot goes in to the home buying market. Way more than just unemployment rates.
Pros for the housing market prices now:
Interest rates are super low
Less newer home construction, keeping inventory of available homes higher.
Fewer people may be willing to move out which also keeping inventory low
Pros for the housing market prices now:
Interest rates are super low
Less newer home construction, keeping inventory of available homes higher.
Fewer people may be willing to move out which also keeping inventory low
Posted on 5/20/20 at 4:46 pm to AUriptide
You won’t see an abundance of foreclosures until the forebearance period ends.
Posted on 5/25/20 at 10:14 am to AUriptide
My 3 bedrooms and 2 toilets in a neighborhood where there are people parking in the street and grass with garages teeming with Tupperware bins of consumer garbage is worth uhhhhhhh billllion dollars says the proletariat.
Posted on 5/25/20 at 2:16 pm to AUriptide
quote:
Sold the first one and doubled my money
I doubt that, what did you buy the house for? What did you put in it?
Posted on 5/25/20 at 10:20 pm to AUriptide
I may be looking to buy in the not too distant future. Maybe a condo in New Orleans, nothing fancy, likely under $250k
Posted on 5/25/20 at 10:37 pm to AUriptide
Downvoting the OP is as easy as Pi-
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