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re: House(s) on the market
Posted on 4/24/21 at 3:50 pm to Guntoter1
Posted on 4/24/21 at 3:50 pm to Guntoter1
We live in central Indiana which has historically been a very low key, affordable market with plenty of inventory. Now if a house comes on the market, it gets 20 offers the same day, multiple above asking price, sight unseen buyers from Chicago, etc. Unreal. If it's happening here it's gotta be pretty much happening everywhere nationwide except really undesirable locations.
0
Posted on 4/24/21 at 3:57 pm to AUCE05
quote:
I dont understand where the extra buyers are coming from. It is like we created new humans in the home buying range. Maybe better access to funding?
They are abandoning their shite hole countires. My small neighborhood in Boca Raton, Fl which is only about 50 houses has 4 new residents and they are from NY, NJ, Penn, and Cali. Good thing is they moved during covid when dumb leftists were to scared to leave their front door so they are conservative.
Florida lucked out. No liberals are moving here right now because of how much propaganda their media has told them about the state. We got way redder
And my house in NY on Long Beach had gone up 40% since the plandemic started because everyone is getting out of the city and want to live in a carefree place near the water
This post was edited on 4/24/21 at 4:00 pm
Posted on 4/24/21 at 4:08 pm to Will Cover
The housing market in a lot of areas is insane right now. People are offering over asking price for houses that are sight unseen hours after the property is listed here.
Posted on 4/24/21 at 4:21 pm to Will Cover
It’s crazy. A house in Leesburg, VA went up for $550k and got a cash offer without a viewing for $700k. Real estate is insane in NOVA right now.
Posted on 4/24/21 at 4:25 pm to AUCE05
quote:
dont understand where the extra buyers are coming from
It’s not extra buyers, it’s low supply and low rates. Investors are also taking advantage and buying more than usual
Posted on 4/24/21 at 4:32 pm to 13SaintTiger
I feel like it’s also the price of lumber. People don’t want to build right now because it’s cheaper to buy
Posted on 4/24/21 at 7:09 pm to Will Cover
3 houses in my Baton Rouge neighborhood have recently sold in a day, don’t know the financial details, but prices were already high, average home price is around $750k
Posted on 4/24/21 at 7:24 pm to Civildawg
quote:
I feel like it’s also the price of lumber. People don’t want to build right now because it’s cheaper to buy
Most builders out here aren't even taking on contracts. Waitlists of people just to get first refusal.
Posted on 4/24/21 at 7:30 pm to Will Cover
About to list mine, ready to get out of the neighborhood... my old agent said inventories are down 40% right now.
She just sold and can’t find anything so living with in laws... I plan on renting a condo for 6mo-yr and then buying once things slow down.
She just sold and can’t find anything so living with in laws... I plan on renting a condo for 6mo-yr and then buying once things slow down.
Posted on 4/24/21 at 7:34 pm to Will Cover
I will say as someone involved in the gulf coast condo market things seem to be cooling. They are a long way from cold but are cooling. I don’t know if it is the new Freddie and Fannie rules or if the cash investors think things are getting overpriced or what but condos I would think are decent deals are sitting for days if not weeks here lately when they were gone in hours two months ago
Posted on 4/24/21 at 8:25 pm to Will Cover
Welcome to any nice area in the southeast us
Posted on 4/24/21 at 8:34 pm to Will Cover
This bubble like all others will pop eventually. The stock market is in a bubble too right now.
Posted on 4/24/21 at 8:39 pm to Will Cover
This is a classic bubble. It still has some legs since government is pushing money to folks, Low interest rates, and limitations on evicting people are causing market inefficiencies.
Posted on 4/24/21 at 8:41 pm to kaaj24
It's going to crash. It might be a year from now but it will happen. And we've got stocks like Roblox valued at 40-50 billion. Lol. We'll see a big meltdown before long.
Posted on 4/24/21 at 9:01 pm to Will Cover
Come check out Pinellas county FL. I’ve offered list price on 10 homes with no luck.
Bumped up..offered 25k over list price and 65k down with no luck on last 3 homes. Looking in 300-330k range.
Most homes at this price point (I know I’m a poor young first time home buyer) are cash offers that are under contract in a few days. Some house’s I can’t even get the realtor to give me a showing.
Yankees buying sight unseen.
Bumped up..offered 25k over list price and 65k down with no luck on last 3 homes. Looking in 300-330k range.
Most homes at this price point (I know I’m a poor young first time home buyer) are cash offers that are under contract in a few days. Some house’s I can’t even get the realtor to give me a showing.
Yankees buying sight unseen.
Posted on 4/24/21 at 11:08 pm to Devilsturn
Daughter and son in law sold their house in Mt. Brook (B’ham), AL 2 weeks ago. Had 25 showings. 8 offers and sold for $35K over list to a cash buyer, sight unseen and closed in 7 days. They had rented a house down the street as they are building. They took advantage of the hot market. No way I would have moved twice but I was wrong about their strategy. They did say the lumber price on their new house had increased $40,000 since the initial bid from their contractor so I guess it’s all relative. The buyers were getting out of ATL,
I think unreal inflation is right around the corner.
I think unreal inflation is right around the corner.
This post was edited on 4/24/21 at 11:16 pm
Posted on 4/25/21 at 10:11 am to fallguy_1978
quote:
This bubble like all others will pop eventually.
We likely overpaid a little on our new house, but we were not getting stuck in our current house when/if the bubble does pop.
I do keep hearing people talk about dfw market being strong enough to weather a downturn. But people may just be telling us that to ensure we don’t get worried about job security.
ETA: I was not old enough to understand or remember what went down in 2018 and how long it took for the market to bounce back. Were there any markets that weren’t SIGNIFICANTLY effected in ‘08?
This post was edited on 4/25/21 at 10:15 am
Posted on 4/25/21 at 10:24 am to ColoradoAg03
quote:
Market here in Denver is nuts. People are offering $20-40k over list with full/partial appraisal gap and still getting beat out. Usually by cash buyers.
People are running out of Cali and New York. $600k is nothing for a house when they've been paying 1mill plus.
Posted on 4/25/21 at 11:12 am to Lazy But Talented
quote:
ETA: I was not old enough to understand or remember what went down in 2018 and how long it took for the market to bounce back. Were there any markets that weren’t SIGNIFICANTLY effected in ‘08?
Some faired better than others obviously but they pretty much all got clobbered. I remember you could buy a decent home in Vegas for something like 150k when the bottom fell out.
I bought my first house in 2006 at the top and still sold it for a loss 10 years later.
This post was edited on 4/25/21 at 11:16 am
Posted on 4/25/21 at 2:05 pm to ItzMe1972
What neighborhood in LFT?
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