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Message
re: House(s) on the market
Posted on 4/30/21 at 5:26 am to Will Cover
Posted on 4/30/21 at 5:26 am to Will Cover
In the suburbs of DFW, Austin, around Houston, you better be prepared to come in at 10% over asking and give concessions... at least on nice homes in a good area.
In DFW, there’s about 60% fewer homes on the market than before the pandemic. And about twice as many people looking to buy.
In DFW, there’s about 60% fewer homes on the market than before the pandemic. And about twice as many people looking to buy.
0
Posted on 4/30/21 at 5:40 am to Will Cover
One of my neighbors just died and her kids put her house on the market foe $1.1M. This house is a giant piece of shite. 3bed 4 bath and hasn’t been renovated in probably 40 years. It had three offers and two pending in the first three days. My realtor told me a builder paid over asking and is going to tear it down.
Posted on 4/30/21 at 7:12 am to MSTiger33
I am a Super for a decent sized builder in the midwest. (400-500 Homes). I can not believe the number of 20 somethings buying their first home in the 400.000.00 dollar range. Starting to feel the pinch regarding building materials. I have a few homes standing with no siding, and no idea when the next shipment is coming in. The most recent shortage for us.(Concrete form wall ties). Impossible to find. We went to a machine shop and figured out a way to build our own. We now have 8 trailer loads on order but still a ways out for delivery. Having to start thinking outside of the box on a lot of things.
Posted on 4/30/21 at 9:12 am to KCkid
quote:
. I can not believe the number of 20 somethings buying their first home in the 400.000.00 dollar range
institutional capital is buying a lot of these
This post was edited on 4/30/21 at 9:12 am
Posted on 4/30/21 at 9:21 am to rocket31
quote:
institutional capital is buying a lot of these
First-time homebuyers can get crazy good deals. Hell, Biden is talking about implementing a $15,000 first-time homebuyer credit.
Posted on 4/30/21 at 9:39 am to MSTiger33
quote:I just watched a perfectly decent house being torn down. Sold for $530K last year. Sits on a 1/2 acre lot on a small lake, with maybe, 1 or 2 houses valued at over $1 million. Insane.
One of my neighbors just died and her kids put her house on the market foe $1.1M. This house is a giant piece of shite. 3bed 4 bath and hasn’t been renovated in probably 40 years. It had three offers and two pending in the first three days. My realtor told me a builder paid over asking and is going to tear it down.
Posted on 5/1/21 at 4:00 pm to Will Cover
This may be a good time to sell my El Cid condo
Posted on 5/1/21 at 10:02 pm to Drunken Crawfish
quote:
First-time homebuyers can get crazy good deals. Hell, Biden is talking about implementing a $15,000 first-time homebuyer credit.
Not holding my breath. I'd love for this to pass, but homes we're interested in will probably be priced $30,000 higher by the time this $15,000 credit comes around.
Posted on 5/3/21 at 9:17 am to KamaCausey_LSU
Thinking about selling our home and getting about 95k out of the deal. Clearing out 40k of debt. Putting 20% down on some land and renting for a year before building. We like our house but its too small for growing our family right now.
What are the Money Board's thoughts? I realize in a year things could be even crazier but I'd be debt free and a stack of cash in the bank. At some point things will surely cool off right? I'm not saying 08 style crash but supply will have to catch up at some point.
We are in a pretty hot market in the Upstate of SC.
What are the Money Board's thoughts? I realize in a year things could be even crazier but I'd be debt free and a stack of cash in the bank. At some point things will surely cool off right? I'm not saying 08 style crash but supply will have to catch up at some point.
We are in a pretty hot market in the Upstate of SC.
This post was edited on 5/3/21 at 9:26 am
Posted on 5/3/21 at 9:25 am to LSURep864
quote:
Clearing out 40k of debt. Putting 20% down on some land and renting for a year before building.
If your current home isn't a 'forever' home I would sell get your equity out of it get out of debt and park the money and sit for a year and see what happens. I am renting for a year after being a homeowner for 16 years and there has been some adjustment to renting instead of owning but I feel good knowing I have no debt and have money to buy at anytime I choose. Being a renter and having money and options isn't a bad thing as it is temporary. Renting if you are broke in debt and living paycheck to paycheck is a whole other issue.
Posted on 5/3/21 at 9:28 am to ronricks
quote:
If your current home isn't a 'forever' home I would sell get your equity out of it get out of debt and park the money and sit for a year and see what happens. I am renting for a year after being a homeowner for 16 years and there has been some adjustment to renting instead of owning but I feel good knowing I have no debt and have money to buy at anytime I choose. Being a renter and having money and options isn't a bad thing as it is temporary. Renting if you are broke in debt and living paycheck to paycheck is a whole other issue.
Yeah debt free with a pile of money that is growing rapidly seems like a position of strength to me. It's really where I'm leaning. It was going to take us another 1-2 years to even get out of debt if we were aggressive.
Posted on 5/3/21 at 12:32 pm to LSURep864
Im surprised to see all of the posters trying to time the real estate market by selling their home and moving their family into a rental. The general consensus on this board is to buy and hold, yet this seems to be the exception.
For those that sold, what do you do it 12-24 months if the market simply stays flat and does not pull back? What if it goes back to moderate growth of 3% per year with no pullback?
With all of the people selling and waiting, I dont see a scenario in which demand deteriorates within 1-2 years unless the economy just falls apart. What am I missing?
For those that sold, what do you do it 12-24 months if the market simply stays flat and does not pull back? What if it goes back to moderate growth of 3% per year with no pullback?
With all of the people selling and waiting, I dont see a scenario in which demand deteriorates within 1-2 years unless the economy just falls apart. What am I missing?
Posted on 5/3/21 at 12:37 pm to LSUTOM07
I would only suggest selling now if it’s not a house you see yourself or could see yourself in long term.
Posted on 5/3/21 at 12:43 pm to fallguy_1978
As a first time home buyer who was planning on buying in Jan/Feb next year is it best to just try and ride this thing out for the next year and re-up my lease? I just made the move from DC to Charleston so the pricing is already a lot more cheaper, but still highly competitive.
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