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Posted on 3/31/22 at 3:43 pm to riccoar
quote:
The prices homes have been selling for were simply outrageous.
If gas is $8 a gallon and a fast food meal is $15 is a $600,000 3 bedroom house really outrageous? If inflation keeps going like it could be considered a bargain.
Posted on 3/31/22 at 3:53 pm to Catchfalaya
Posted on 3/31/22 at 4:04 pm to lsu480
No, I mean like a realtor buying a 900 square foot house for $50K and then selling it here recently for $150K. Those people are stuck or taking a loss when they ever decide to unload it.
The prices have been like that for several months.
The prices have been like that for several months.
Posted on 3/31/22 at 4:26 pm to riccoar
I was looking at a 700 square foot house in the Rogers area at $105,000. It was built in 75 and it needed a lot of work. Contrast to the 1400 square foot house I bought back in 13 in Bentonville at $102,000. That house needed work but the neighborhood was much better.
The price for that small house is a ripoff.
The price for that small house is a ripoff.
Posted on 3/31/22 at 4:32 pm to Catchfalaya
When I bought my first home we had to put down 30% and took the 15 year note as we both were working and making good money for the time period.
You had to have squeaky clean credit at that time point. Banks have not learned Grand pops lesson in minimizing risk, or their hands are forced.
You had to have squeaky clean credit at that time point. Banks have not learned Grand pops lesson in minimizing risk, or their hands are forced.
Posted on 3/31/22 at 6:08 pm to teke184
Please ! I built my house in 98 and because of terms back then rates were 3.75% up to 271K which would then kick up to 4.65% over . This 5 % rate while not great is lower than Jimmy Carter days up until the 2001 tech crash. The Fed decreased rates to basically 0 and pumped money into system creating a major issue for the next 50 years or more . The problem is as before- The Federal Reserve
Posted on 3/31/22 at 6:10 pm to Catchfalaya
I have an open search for a given geography - get emails from Zillow as houses go on the market that meet my parameters. Also get emails when the price changes. I've been seeing some hefty price drops recently. The market is busting as we speak.
Posted on 3/31/22 at 6:16 pm to Catchfalaya
quote:
Thing is back in your parents time a house worth $400,000 today was only $200,000 then. Making it that much harder for people today to qualify at 5% rates. Housing market bout to come to a complete halt I’m afraid.
Numbers are probably closer to 120k going to 400k.
I know my parents bought a house in the 90's for 43k and it last sold for 185k in 2020 before the housing market went nuts.
Posted on 3/31/22 at 6:20 pm to Hunter6868
quote:
I am in the position that my wife and I have decided to relocate our family out of Louisiana. My new job won't start until July. Would you try and sell now to still get the absolute most bang for you buck or try and ride it out and risk losing buyers whose top end may be our list price?
Sell asap.
Better have a place to go though.
Posted on 3/31/22 at 6:22 pm to Catchfalaya
quote:what are your thoughts on lack of housing supply to match housing demand? I think that will keep real estate prices high even with a rise in interest rates.
Housing market bout to come to a complete halt I’m afraid.
Posted on 3/31/22 at 7:33 pm to Catchfalaya
You can thank that pedophile scumbag for this.
Posted on 3/31/22 at 7:43 pm to Catchfalaya
elections have consequences.
stolen elections have catastrophic consequences.
cry me a river baby
stolen elections have catastrophic consequences.
cry me a river baby
Posted on 3/31/22 at 7:54 pm to Catchfalaya
elections have consequences.
stolen elections have catastrophic consequences.
cry me a river baby
stolen elections have catastrophic consequences.
cry me a river baby
Posted on 3/31/22 at 8:03 pm to Zarkinletch416
Putting my house on market after Easter. Still working on getting it ready.
Crossing fingers the elevated market will last util then.
Then hoping for a return to normal. My retired parents leave the state from May till September so I have a place to stay while we look for next house.
Crossing fingers the elevated market will last util then.
Then hoping for a return to normal. My retired parents leave the state from May till September so I have a place to stay while we look for next house.
Posted on 3/31/22 at 9:57 pm to Catchfalaya
quote:
Thing is back in your parents time a house worth $400,000 today was only $200,000 then.
A house in Batn Rouge which I purchased in 1985 for $78,000 with a 9.9% mortgage that I was able to assume from the seller has recently sold for over $400,000,with very little updating since I owned it.
Typical rates in 1985 were a little over 14%, $78k is $205K in today’s dollars, at 14.5 % with 10% dow for 30 years with estimated taxes and insurance gives a monthly payment of around $2,600. $400K at 5% for 30 years with taxes and insurance puts the payment around $2300.00 iIt seems like the $400K house at 5% today is just as affordable as a &78K house at 14.5% in 1985. Someone can check my math.
This post was edited on 3/31/22 at 10:21 pm
Posted on 3/31/22 at 10:05 pm to tigeraddict
quote:It will. It won’t be until fall and we get another rate hike before it really slows down.
Putting my house on market after Easter. Still working on getting it ready.
There’s too much activity right now for it to crash to a halt
Posted on 3/31/22 at 10:15 pm to Catchfalaya
I listed a house a few hours ago and have 16 showings already scheduled for tomorrow. Seeing absolutely no slowdown due to near historic vs historic rates here in Greater Nashville market.
Posted on 3/31/22 at 10:22 pm to Catchfalaya
Good. I want the entire thing to collapse, catastrophically. It will take that sort of 2x4 (at $8 a piece) between the eyes for the sheeple to see how badly fricked the US is. And even then, 30% of the populace unaffected by any sort of inflation bc they will just collect more Biden bucks would re-elect that idiot tomorrow.
Including a bunch of leftist cucks that post here.
Including a bunch of leftist cucks that post here.
This post was edited on 3/31/22 at 10:24 pm
Posted on 3/31/22 at 10:24 pm to ItNeverRains
quote:
Seeing absolutely no slowdown due to near historic vs historic rates here in Greater Nashville market.
This is why we’re building in Nolensville. No interest in competing with that insanity and we get exactly what we want.
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