quote:
I’m not touching the market again until this all blows over. I suspect that housing prices will fall at some point. I’m not sure how bad it will be, but it’s too iffy for us to touch right now. Just my 10 cents.

That's kind of where I am right now. We're considering making a cash offer on a house in Nevada around mid-June when a CD we have matures. The house was oringally listed at 435k. This was almost 10 months ago. They've taken if off the market for now because tihngs are so crazy. They had come down to 390k before taking it off the market. We're going to offer 380k. If they accept, fine. If not we'll wait until next year to see how this all shakes out

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Posted by ELVIS U

Member since Feb 2007

9940 posts

Posted on 4/26/20 at 8:30 pm to L.A.

The L.A. market is crazy and hard for me to predict, but I think the housing market is taking a big hit nationwide for a few months.

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Posted by molsusports

Member since Jul 2004

36146 posts

Posted on 4/26/20 at 8:48 pm to L.A.

I think you could offer 370k and see if they come back near 380. At either price who knows who did better 12 months later.

Housing where I live in Arizona has definitely turned into another bubble IMO. Values have doubled in the last 8 or 9 years.

We could try to sell now but then what? Lose a percentage off the top, live in a rental property like I'm 22 again? I'd lose 20 odd thousand with rent and over that much again to realtors. Short of buying rental properties and becoming a landlord I think I will just ignore the impending loss of value and continue to get closer to paying off the existing mortgage.

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Posted by SlidellCajun

Slidell la

Member since May 2019

10509 posts

Posted on 4/26/20 at 9:38 pm to L.A.

I think there will be some pricing pressure in the urban settings. Credit will tighten too. Lenders will be cautious about lending with the uncertainty in some industries.

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