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Started By
Message
re: My House has been sitting on the market for a month now
Posted on 9/28/22 at 7:08 am to Northwestern tiger
Posted on 9/28/22 at 7:08 am to Northwestern tiger
Anyone selling or buying in this market is screwed...
I got in right before the big fall out, waited 6 months to find the perfect property and locked in 4.6%. I was pissed that that was the rate at the time, but looking back, I'm happy now.
Had I waited another 2 weeks, I would have went back tot he sidelines until next year.
I got in right before the big fall out, waited 6 months to find the perfect property and locked in 4.6%. I was pissed that that was the rate at the time, but looking back, I'm happy now.
Had I waited another 2 weeks, I would have went back tot he sidelines until next year.
1
Posted on 9/28/22 at 7:56 am to Northwestern tiger
as opposed to the "good" recession we're already in?
Posted on 9/28/22 at 8:00 am to Northwestern tiger
Im sure it has nothing to do with the awful area you live in and no one wanting to move there
Just max cash out to put a down on a new home and rent it out
Just max cash out to put a down on a new home and rent it out
Posted on 9/28/22 at 8:06 am to notiger1997
quote:
Houses in BR going for 500k is ridiculous
quote:
So are you implying that some houses in BR aren't worth this?
Seems like quite the blanket statement.
It's pretty easy to understand the sentiment of his statement.
Or are you just trying to be an a-hole for some reason?
Posted on 9/28/22 at 8:07 am to Lone Wolf McQuade
quote:
Why is no one upset with our government for all the excessive spending? What about the lockdowns?
I wasn't aware that people weren't upset by these things.
Posted on 9/28/22 at 8:15 am to notiger1997
I guess you are correct. They are worth what you pay for. For me, the new all
White cottage style homes with no yard is not worth 500K
White cottage style homes with no yard is not worth 500K
Posted on 9/28/22 at 8:17 am to glorymanutdtiger
Where is the house located and how many bedrooms and bath
Posted on 9/28/22 at 8:47 am to Northwestern tiger
quote:
But everything is factored in the price. It’s listed below Zillow estimate
When did Zillow come by to see it?
Posted on 9/28/22 at 9:03 am to Mingo Was His NameO
quote:
The feds are getting super aggressive with the interest rate
The out of control spending caused this, not the Fed increasing interest rates.
Posted on 9/28/22 at 9:42 am to Lsut81
quote:
Anyone selling or buying in this market is screwed...
Dude I have a neighbor who started building their home 6 months ago. They’re now finishing up and look to be closing within 6-8 weeks. They’re double screwed bc they paid inflated material prices and now going to be stuck with 6-7% mortgage.
Posted on 9/28/22 at 10:23 am to Northwestern tiger
the issue to me is the things you listed will cost the buyer alot of money to fix in a short time. In this market extra cash is hard to come buy to fix those issue right after buying a house.
Posted on 9/28/22 at 10:29 am to Northwestern tiger
quote:
Windows are old
Siding on garage
Roof getting old
Etc…
But everything is factored in the price. It’s listed below Zillow estimate
It doesn't matter that it is priced below where some website thinks it should be.
No one wants to buy a house and then have to spend $20K to fix all the shite that you should have before you decided to sell it.
Posted on 9/28/22 at 10:48 am to glorymanutdtiger
quote:
They are worth what you pay for.
Really, they are worth what the bank will lend you.
Posted on 9/28/22 at 10:57 am to Lone Wolf McQuade
quote:
Why is no one upset with our government for all the excessive spending? What about the lockdowns?
I think there are a lot of, but not enough, people that are upset about both of those things.
Posted on 9/28/22 at 11:02 am to Northwestern tiger
quote:
Zillow
Zillow is garbage.
I was working with a realtor on investment properties, and we compared the MLS info on a recent sale to Zillow. Same property but Zillow had the price wrong by a mileand the sale date wrong.
Posted on 9/28/22 at 11:02 am to wryder1
quote:
The out of control spending caused this, not the Fed increasing interest rates.
There isn't much difference. Out of control spending necessitates money printing which leads to inflation which necessitates higher interest rates.
Posted on 9/28/22 at 11:03 am to iAmBatman
quote:
Windows are old
Siding on garage
Roof getting old
Etc…
But everything is factored in the price. It’s listed below Zillow estimate
It doesn't matter that it is priced below where some website thinks it should be.
No one wants to buy a house and then have to spend $20K to fix all the shite that you should have before you decided to sell it.
He would probably have gotten what he wanted between January and March but things have changed incredibly quickly.
The momentum has reversed and buyer sentiment has gone from "buy now" FOMO to reluctance because probably a house they buy now will be worth less next year.
Posted on 9/28/22 at 11:05 am to Drunken Crawfish
quote:
Really, they are worth what the bank will lend you.
Not everyone borrows money to buy a house.
Posted on 9/28/22 at 11:15 am to Northwestern tiger
Dude the intrest rate is only going up, your going to have to sit on this house for at least 2 years, unless you just want to unload it.
Posted on 9/28/22 at 11:28 am to Northwestern tiger
With rates where they are, $50K doesn't nearly make up the interest cost increases. It is interesting to see where real estate goes.
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