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Message
re: Realtor Buddy Called Me
Posted on 6/14/22 at 8:52 pm to Catchfalaya
Posted on 6/14/22 at 8:52 pm to Catchfalaya
We are putting our house on the market in two days. Open house this Sat and Sunday. I hope we get decent offers. I believe it is priced very competitively and don't care about getting tens of thousands over asking. Hoping to sell, and move back to Louisiana on family land. With food, and everything going to shite, I'm ready to be self-sufficient.
2
Posted on 6/14/22 at 9:00 pm to Catchfalaya
quote:
Says his pending home sales have plummeted May/June. Use to average 4 closings a month. This month 0
Market has 100% shifted the last 3 weeks, however prices haven’t plummeted to offset interest rates yet. Just a lot of stuff sitting.
Posted on 6/14/22 at 9:03 pm to MrLSU
quote:
"With the hurricane season underway, thousands of Louisiana policyholders face a storm of insurance cancelations in a matter of days. And many are not pleased, along with some insurance agents.
Sofia Dheming has no choice but to purchase new homeowners’ insurance.
“We have a couple of quotes, the highest I got was like $9,000, so that was like three times the amount we were paying originally and then we came down to $4,700 and that’s a lot of deductions that we took out, stuff that we may need but we had to make it work,” said Dheming.
She had received a letter a day earlier.
“We have some carriers now that’s taking policies and the rate increase is 40%, 50%. I don’t care what anybody gets up here and say, oh it’s not going up that high. I know, my office is a huge insurance agency. We see renewals come in from $2,000 to $4,000 or $5,000 every day,” said Fayard.
Dheming is also a realtor and is seeing the impacts of the current insurance landscape on homebuying.
“Flood insurance is going up as they are, we have now homeowners’ insurance that’s going to go up and you know interest rates are going up,” she said."
There is a mass exodus of residents moving north right because of not only the rising interest rates but the astronomical property & casualty insurance rates.
cost to rebuild those houses is now much higher. so rates go up to appease the all seeing actuarial gods.
Posted on 6/14/22 at 9:07 pm to Catchfalaya
Wife is a real estate agent for Gary Greenein Sugar Land/Houston and does very well. Home builders are now reaching out to them and notifying they are once again restored incentives and are paying full commisions if they bring buyers.
She just read it to me a few days ago. Rising interest rates and inflation... coming like a freight train to the real estate market.
She just read it to me a few days ago. Rising interest rates and inflation... coming like a freight train to the real estate market.
This post was edited on 6/14/22 at 9:09 pm
Posted on 6/14/22 at 9:19 pm to Catchfalaya
Closed on a piece of property last week. Realtor and banker were sitting across the table when the realtor asked, has your business slowed down?
Banker replied, not yet.
Realtor said his business has slowed significantly over the last three months.
Banker replied, not yet.
Realtor said his business has slowed significantly over the last three months.
Posted on 6/14/22 at 9:22 pm to Catchfalaya
If you’re in south LA, insurance is playing a big factor too on top of the interest rate hikes. Options have dwindled bigly over the past 2-3 months and a lot of people are left with the state run Citizens as their only option which is expensive as hell.
Posted on 6/14/22 at 9:24 pm to Catchfalaya
Sold a house in April 2021. Did a "Comming Soon" to generate interest. Went live on a Monday. Had 25 showings, 15 offers and sold it $20,000 above the asking price.
Posted on 6/14/22 at 9:28 pm to aubie101
It is going to be bad, really bad. I saw something earlier today that showed new construction starts in Q1 for Plano in 2022 were down 45% compared to Q1 2021.
The brakes are slammed on.
The brakes are slammed on.
Posted on 6/14/22 at 9:37 pm to Catchfalaya
I was called numerous things two months ago when I said this was going to happen. Still think the housing bubble isnt about to go boom? The level of ignorance in this country is outfrickingstanding.
Posted on 6/14/22 at 9:41 pm to Tider13
quote:
I was called numerous things two months ago when I said this was going to happen. Still think the housing bubble isnt about to go boom? The level of ignorance in this country is outfrickingstanding.
I finally listed because I got a job offer back in the South and now the market is crap.. oh well, pray for the best.
Posted on 6/14/22 at 9:52 pm to bbvdd
quote:
Rates will be between 5.50-6% by the end of the week.
It already is. My client just locked in at 5.85%. lender said it was 5.25% yesterday. Another lender was over 6% already.
Posted on 6/14/22 at 9:55 pm to Catchfalaya
DFW is still a little wild. I have seen more "price improvements" lately though. Most stuff under $300k are being bought by investors with cash. Still multiple bids on those.
Closed one 2 weeks ago $50k over. Another one $30k over next week. All cash both deals. Only way things are going. I think it will start to settle down more after the summer season, especially with rates going up.
Closed one 2 weeks ago $50k over. Another one $30k over next week. All cash both deals. Only way things are going. I think it will start to settle down more after the summer season, especially with rates going up.
Posted on 6/14/22 at 9:57 pm to Catchfalaya
quote:
Says his pending home sales have plummeted May/June. Use to average 4 closings a month. This month 0
I look at homes for sale in my area online pretty regularly and there a clear trend over the last 2 months that the market is cooling.
Posted on 6/14/22 at 9:57 pm to Catchfalaya
I’ve mixed feelings on this. I know this portends even worse things to come economically, but also not upset some of these insane home prices will cool off.
I’ve had a few friends try and buy homes the last 9 mos or so, and some of the absolute dog shite realtors who are out there playing games and taking advantage of people deserve the hottest corner in hell.
I know not all realtors are spawns of Satan, but at least 8 in 10 are.
I’ve had a few friends try and buy homes the last 9 mos or so, and some of the absolute dog shite realtors who are out there playing games and taking advantage of people deserve the hottest corner in hell.
I know not all realtors are spawns of Satan, but at least 8 in 10 are.
Posted on 6/14/22 at 9:57 pm to Catchfalaya
Have my eyes on a few places in the mountains. Cant wait for a crash. Gonna pay straight cash homies
Posted on 6/14/22 at 9:58 pm to theRealJesseD
I’m going to call bullshite on that. Every realtor is now slow and gor sale should guns are popping up everywhere and not coming down
Posted on 6/14/22 at 10:01 pm to Ed Munster
quote:
Had 25 showings, 15 offers and sold it $20,000 above the asking price.
You were definitely underpriced if there was that much action. It's fine if you are happy with what you got though.
Posted on 6/14/22 at 10:02 pm to tigers444
quote:
It already is. My client just locked in at 5.85%. lender said it was 5.25% yesterday. Another lender was over 6% already.
30 year fixed skyrocketed today to 6.28%!
Posted on 6/14/22 at 10:02 pm to Catchfalaya
Wait until you see what happens to supply once all these people in houses at 2-3% don't go on the market...sell....like ever.
This post was edited on 6/14/22 at 10:12 pm
Posted on 6/14/22 at 10:07 pm to theRealJesseD
quote:
My wife has 6 closings this month and 3 new listings
Cha Ching!!
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