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re: Who blinks first...home buyers or home sellers?
Posted on 2/13/25 at 11:52 am to sidewalkside
Posted on 2/13/25 at 11:52 am to sidewalkside
Every transaction is different..right now, at least down here, the Buy side is in control
0
Posted on 2/13/25 at 11:53 am to Chucktown_Badger
i imagine this trend of longer homeownership will continue.
Posted on 2/13/25 at 11:54 am to sidewalkside
quote:
He's wildly misusing the term "trap house" and will sound like a fool using this in public.
i agree, but this is a trap house for white people. different application for the different economic class.
Posted on 2/13/25 at 11:56 am to LSUminati
quote:
qualifying language. I am talking about general market greed
That still doesn't make sense to me. People and corporations looking to maximize profits in the market?
Posted on 2/13/25 at 11:59 am to LSUminati
quote:
You seemed to have misread my qualifying language. I am talking about general market greed, not so much an individual dynamic as I would do the same thing. I bought a house last summer, can afford plenty
sellers generally have to buy a house too and usually are shopping for something more expensive. The math starts to get hard if you drop your list price on the house you own.
better to just sit on the lower interest rate for longer then to drop your price
Posted on 2/13/25 at 12:00 pm to Harry Boutte
quote:
People and corporations looking to maximize profits in the market?
I think it's simply people expecting to continue to receive the outrageous prices that were common ~1 year ago. The ole "our house is worth more than that, Jim and Susie got $insert price for theirs!" mindset.
This post was edited on 2/13/25 at 12:01 pm
Posted on 2/13/25 at 12:03 pm to Harry Boutte
It's not exactly a free trade system in my view. Heavily influenced by the cabal of realtors who convince their clients to hold at prices because of comps they have a hand in setting instead of allowing individuals to freely communicate and trade. Lots of houses sitting on the market without price cuts because of this dynamic, even if the seller is well within the black.
Posted on 2/13/25 at 12:03 pm to Eighteen
I would love to sell my primary home right now and build a new house on Guntersville Lake. Getting $175/sq ft for my current home would be great, but then having to turn around and pay $225-250/sq ft (or more!) for a new construction would not be so great.
Posted on 2/13/25 at 12:04 pm to Eighteen
quote:
still just to many people In “trap houses” as my friends call them
I like this term. I guess I'm trapped but also don't really want to move. Is the house perfect, NO. Is the neighborhood perfect, No. But that 2.7% is golden!!!
Posted on 2/13/25 at 12:32 pm to LSUminati
quote:
Heavily influenced by the cabal of realtors who convince their clients to hold at prices because of comps they have a hand in setting instead of allowing individuals to freely communicate and trade.
I disagree. It's in the realtors best interest to get the deal done, otherwise they keep investing time and money for 0 return until then.
Posted on 2/13/25 at 12:36 pm to Dire Wolf
quote:
sellers generally have to buy a house too and usually are shopping for something more expensive. The math starts to get hard if you drop your list price on the house you own. better to just sit on the lower interest rate for longer then to drop your price
Exactly. Is it feasible to allow home loan interest rates to transfer?
That would get homes listing and selling, but then would trap the people with the currently higher interest rates to be stuck thrrr longer because rates would be unlikely to drop ever again in future?
Posted on 2/13/25 at 12:44 pm to Chucktown_Badger
quote:
I think it's simply people expecting to continue to receive the outrageous prices that were common ~1 year ago. The ole "our house is worth more than that, Jim and Susie got $insert price for theirs!" mindset.
Everything is more expensive today and you’re expecting sellers to say sure I’ll give up my biggest asset for less? I don’t think it’s greed, I think folks need to get a certain price or they will be unable to move.
Posted on 2/13/25 at 1:46 pm to Eighteen
Our current home has a 30 year mortgage at 1.65%. The only regret I have is we paid too much down on it...the rate would have been the same with half the down payment and we'd have gotten more money at 1.65%. Live and learn. We will NEVER sale. We will never pay it off. I will be 59 this year and we have 26 years on that mortgage. A comparable rental in our area would fetch almost double our mortgage payment every month. Huge house 5BRs, 5 Bathrooms and a little under 4000 square feet, about 10 minutes from the main entrance to one of the largest military bases in the nation. Renting in a military community is IDEAl. Going through the base housing office GUARANTEEs timely payment and if they frick the place up they have to answer to their command. And PCS season rolls around every spring so there is an opportunity to increase rent almost every year beyond what is normal for the same tenant. We are in the process of building our retirement home (out of pocket, doing almost every bit of it myself). When our daughter moves off to college we are moving to the lake, working 3-4 more years and renting that pile of bricks to a blended military family....
Posted on 2/13/25 at 1:53 pm to Eighteen
I had to move and it sucked giving up my 2.6% rate and going to a 6.3% 
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