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Started By
Message
Post flood real estate question
Posted on 9/13/16 at 1:30 pm
Posted on 9/13/16 at 1:30 pm
Anyone you know gone ahead and listed their house for sale? And is their truly a post flood increase in value for houses that didn't flood?
7
Posted on 9/13/16 at 1:33 pm to mpar98
You know who knows this stuff? Realtors.
Posted on 9/13/16 at 1:34 pm to Motorboat
quote:
Realtors.
are they ones inflating the prices
Posted on 9/13/16 at 1:34 pm to mpar98
Prices will skyrocket.
Posted on 9/13/16 at 1:35 pm to Nado Jenkins83
quote:Supply and Demand is what increases the prices.
are they ones inflating the prices
Posted on 9/13/16 at 1:36 pm to The Mick
quote:
Supply and Demand is what increases the prices.
i bet they are telling the homeowner to increase the price.
Posted on 9/13/16 at 1:37 pm to mpar98
One new listing on my street... definitely started out at a slightly higher cost per square foot than they had been going for before. I'll be interested to see if it sells... but there is another one on my street that was on the market before the flooding and is still there, so doesn't look like a seller's market yet.
I imagine most people affected by the flooding are still in limbo trying to figure out what to do, or have already committed to rebuilding. Plus how many people that just lost everything and could very well be underwater (pardon the pun) on a mortgage can afford right now to go buy a new house? If they could even qualify?
I imagine most people affected by the flooding are still in limbo trying to figure out what to do, or have already committed to rebuilding. Plus how many people that just lost everything and could very well be underwater (pardon the pun) on a mortgage can afford right now to go buy a new house? If they could even qualify?
Posted on 9/13/16 at 1:40 pm to mpar98
Houses that I've seen for sale before the flood, that didn't flood, are still for sale so must not be some insane market like post Katrina was
Posted on 9/13/16 at 1:40 pm to mpar98
I was about to list my house pre-flood but have to do some work on it first.
After my house didn't flood I called my agent to see if I should list as is. He told me the market hasn't reacted much and it would be better to wait and do the updates first
After my house didn't flood I called my agent to see if I should list as is. He told me the market hasn't reacted much and it would be better to wait and do the updates first
Posted on 9/13/16 at 1:45 pm to Motorboat
quote:
You know who knows this stuff? Realtors.
The OT hates realtors. True story.
Posted on 9/13/16 at 1:47 pm to RJL2
quote:
the market hasn't reacted much
Posted on 9/13/16 at 1:54 pm to mpar98
Mine has was for sale in South BR before the flood for about 30 days. Since the flood, we have only shown it once to someone who was displaced. Have had an uptick in activity, but more from people who were already looking and want to buy before any perceived rush on housing. We have it listed for same price as before flood.
Posted on 9/13/16 at 1:57 pm to Nado Jenkins83
So is that a yes?
Posted on 9/13/16 at 2:05 pm to Nado Jenkins83
quote:
quote: Supply and Demand is what increases the prices.
i bet they are telling the homeowner to increase the price.
And what are the appraisers doing in this dastardly masterminded collusion?
Posted on 9/13/16 at 2:14 pm to LSUBoo
How long does FEMA have to issue payment for flooded properties? In my eyes it would be a no brainer to start new if getting jacked around by ridiculous construction costs, low balled by FEMA, and probably having to take out a ridiculous loan. But market should start moving a little in a couple months after people get a clear direction of the financials
Posted on 9/13/16 at 2:18 pm to ItNeverRains
quote:
And what are the appraisers doing in this dastardly masterminded collusion?
collecting kickbacks
Posted on 9/13/16 at 2:31 pm to The Mick
In addition banks aren't going to loan out money for greater than the appraised value. The appraised value is gather for properties that closed with the past 30 - most recent sale price.
Just because someone is asking $175/sq ft - doesn't mean the property will either sale for that amount nor appraise for that amount.
Just because someone is asking $175/sq ft - doesn't mean the property will either sale for that amount nor appraise for that amount.
This post was edited on 9/13/16 at 2:33 pm
Posted on 9/13/16 at 2:31 pm to Mudminnow
quote:
In my eyes it would be a no brainer to start new if getting jacked around by ridiculous construction costs, low balled by FEMA, and probably having to take out a ridiculous loan.
Define ridiculous... I have heard of a few people jacking up costs, but not many. And the loans that people could apply for were no higher rates than a standard mortgage these days.
Who can afford to just walk away unless they had a large nest egg built up and had already paid off their house? Not many with a mortgage can likely afford that hit.
Posted on 9/13/16 at 2:32 pm to Nado Jenkins83
Nope
Posted on 9/13/16 at 2:32 pm to Nado Jenkins83
Idiot
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