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Posted on 4/1/22 at 6:31 am to Catchfalaya
Late to the thread.
I’m less worried about what the rates did to people wanting to buy homes and more worried about the fact that home values are going to fall
I’m less worried about what the rates did to people wanting to buy homes and more worried about the fact that home values are going to fall
Posted on 4/1/22 at 6:32 am to AndyCBR
quote:
Not a reason to get upvotes. You scabs help drive up these markets to increase your commission
You sound like a true little bitch. Tell me you know nothing about real estate without telling me you know nothing about real estate
I mean frick dude you do realize there is a housing shortage, and supply shortage? Guess that's realtors fault? You also realize that no matter what the price is, lenders have to approve the amount for the house? And also the buyers/ sellers negotiate price? I swear to God you're dumb as frick. No one force anyone to do anything, they choose what they want
This post was edited on 4/1/22 at 7:00 am
Posted on 4/1/22 at 6:35 am to Lucky_Stryke
The rates are where they were 2018/2019, don’t see why this is such a surprise. 
Posted on 4/1/22 at 7:10 am to llfshoals
quote:
Do you have garage doors on order? That’s a common hangup right now on just about every builder I talk to.
I would assume they do. Hasn’t seemed to be an issue for the rest of the development but they only signed two contracts a month because of material shortages. We have a big upstairs walk-in storage room but I will be lining the garage walls with shelving. I saw a set up for above a double garage door that looks and operates like a boat lift in a dock.
Posted on 4/1/22 at 7:13 am to ItNeverRains
quote:
What? Nolensville is just as aggressive, if not more so than many parts of the city.
My point was the build part. It’s taking a little over a year from start to finish and costs just as much but we’re not having to compete with 20 other offers and throw ridiculous money at something sight unseen.
Posted on 4/1/22 at 7:40 am to Wednesday
The run up in home prices was unsustainable. You were having Silicon Valley pricing activity in a lot of areas that was not justified long term. Couple that with almost free money and you create a recipe for a bubble.
If you bought your 400K house just recently, you had best hold it for the next 5-7 years because you are about to get hit with negative equity as the rates go up. So congratulations, your 400K asset just became worth 350K with a 400K level tax assessment.
Personally I don't mind seeing a lot of realtors going to work at fast food joints in the upcoming 2-3 years
If you bought your 400K house just recently, you had best hold it for the next 5-7 years because you are about to get hit with negative equity as the rates go up. So congratulations, your 400K asset just became worth 350K with a 400K level tax assessment.
Personally I don't mind seeing a lot of realtors going to work at fast food joints in the upcoming 2-3 years
Posted on 4/1/22 at 7:50 am to LSUnation78
quote:
ETA: but dont expect the tax man or your home owner’s to be as quick to draw down value of your property as they were to hit you every year it went up.
For those who are teetering on the brink of that PMI threshold, this is going to be interesting. I’m so thankful that’s not me but it is going to immediately add a few hundred bucks to lots of mortgage payments when the appraised values drop. I imagine lenders will look the other way for as long as possible.
Posted on 4/1/22 at 7:56 am to Tesla
quote:
For those who are teetering on the brink of that PMI threshold,
PMI has to be the biggest ripoff known to man. “Hey, we think you may have a hard time paying this mortgage so we’re going to charge you extra to make it even harder.” Where does that money go anyway?
Posted on 4/1/22 at 7:56 am 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 and lease back.
Posted on 4/1/22 at 8:13 am to NOLAVOL16
quote:I’ve seen that one. Looks pretty handy
I saw a set up for above a double garage door that looks and operates like a boat lift in a dock.
Posted on 4/1/22 at 8:15 am to Wednesday
quote:
I’m less worried about what the rates did to people wanting to buy homes and more worried about the fact that home values are going to fall
To be fair, they got ridiculously inflated in the last year or so.
Posted on 4/1/22 at 8:18 am to KiwiHead
This is my thought too.
Thankfully I bought my house almost 10 yrs ago.
Thankfully I bought my house almost 10 yrs ago.
Posted on 4/1/22 at 8:27 am to KiwiHead
quote:A lot of realtors are part time. You simply cannot make money doing it outside of times like this. Right now everyone that thinks they can make a buck is getting their license thinking they can cash in.
Personally I don't mind seeing a lot of realtors going to work at fast food joints in the upcoming 2-3 years
Even full time people not willing to spend what is necessary are barely scraping by with the market the way it is.
20% of us are selling 80% of the homes. When it slows down it will be 10% of us selling 90% of the homes.
When it slows down if I’m selling 1/3 of what I am now I’ll still be ok.
Posted on 4/1/22 at 9:10 am to NOLAVOL16
quote:seems to be a stabilizing factor if the economy tanks or the GD DEMOCRATS steal an election.
PMI has to be the biggest ripoff known to man. “Hey, we think you may have a hard time paying this mortgage so we’re going to charge you extra to make it even harder.” Where does that money go anyway?
I was glad to get rid of PMI. Now to remove the GD DEMOCRAT PARTY DISEASE.
Posted on 4/1/22 at 10:06 am to Catchfalaya
Rates are still at an overall historical low
My parents first home loan interest rate was 10.5% (80s)
My first home loan rate was 5% (2008)
My parents first home loan interest rate was 10.5% (80s)
My first home loan rate was 5% (2008)
Posted on 4/1/22 at 10:20 am to llfshoals
quote:I know a couple of builders here in Pensacola, FL., who plan on going strictly custom as soon as their present projects are completed....plus, with the supply shortage, it's taking months and months longer to get a house completed.
Fortunately the new construction I have closing in July is paying cash
Posted on 4/1/22 at 11:05 am to Auburn1968
I got a 30 year FHA loan in 1981 for 15 1/2%. 1400sq, 3 bedroom, 2 bath.
Posted on 4/1/22 at 11:07 am to scurvydawg
quote:
Because that is the only debt I have and I want to this thing paid off completely.
Why? This isn't smart finance
Posted on 4/1/22 at 11:12 am to DallasTiger11
quote:
Why? This isn't smart finance
This is the Dave Ramsey finance method. Pay off all debt even if it doesn’t make mathematical or logical sense.
This post was edited on 4/1/22 at 11:13 am
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