User Panel
[#1]
Originally Posted By OregonShooter: I know people that sold three years ago that are still renting waiting for the crash. View Quote View All Quotes View All Quotes Originally Posted By OregonShooter: Originally Posted By exponentialpi: This time is different. I know people that sold three years ago that are still renting waiting for the crash. They made peace with the fact about how much buying power they've lost yet? Like 20-25% lost? That sounds like misery and a 6 digit eff up while paying someone else several thousand a month... that's totally nuts. |
|
|
[#2]
It seems like a sellers market in my area. Just sold mine quick for over asking.
|
|
|
[#3]
Originally Posted By JEL: Or maybe the dollar has lost that much more value and doomers were right all along, in a way The way they’re printing it seems more likely View Quote View All Quotes View All Quotes Originally Posted By JEL: Originally Posted By anothermisanthrope: Man the doomers just can't catch a break - this morning's CSI report: https://finance.yahoo.com/news/us-home-price-growth-picks-130000757.html Or maybe the dollar has lost that much more value and doomers were right all along, in a way The way they’re printing it seems more likely Typically you buy hard assets to protect yourself from currency devaluation. |
|
"Problem in Venezuela is not that socialism has been poorly implemented, but that socialism has been faithfully implemented."
|
[#4]
Supply and demand.
|
|
What is written is my opinion, and my opinion only.
|
[Last Edit: planemaker]
[#5]
Not sure how this figures into the mix:
https://www.zerohedge.com/personal-finance/pending-home-sales-hover-near-record-lows-february So, if home sales are down and inventory is coming up (finally), then wouldn't one think that the prices for those homes would have to come down? ETA: Also saw this: home flipping down I'm not sure exactly how they define a home "flipper". |
|
|
[#6]
Originally Posted By planemaker: Not sure how this figures into the mix: https://www.zerohedge.com/personal-finance/pending-home-sales-hover-near-record-lows-february So, if home sales are down and inventory is coming up (finally), then wouldn't one think that the prices for those homes would have to come down? View Quote Yes |
|
That man is a homo and a liar-TrojanMan
Hell, a Ford just breaks down on you. It doesn't fall apart AND try to kill you at the same time-Bloodsport2885 |
[#7]
Originally Posted By planemaker: Not sure how this figures into the mix: https://www.zerohedge.com/personal-finance/pending-home-sales-hover-near-record-lows-february So, if home sales are down and inventory is coming up (finally), then wouldn't one think that the prices for those homes would have to come down? ETA: Also saw this: home flipping down I'm not sure exactly how they define a home "flipper". View Quote From the context of the article, they are defining a flipper as a corporation that buys houses, throws about $50,000 at them to "bring them up to date," then puts them back on the market at a $150,000 markup. |
|
"You see? It's like I've always said; You can get more with a kind word and a two-by-four than you can with just a kind word." - Marcus Cole
|
[#8]
Originally Posted By Kitulu: From the context of the article, they are defining a flipper as a corporation that buys houses, throws about $50,000 at them to "bring them up to date," then puts them back on the market at a $150,000 markup. View Quote View All Quotes View All Quotes Originally Posted By Kitulu: Originally Posted By planemaker: Not sure how this figures into the mix: https://www.zerohedge.com/personal-finance/pending-home-sales-hover-near-record-lows-february So, if home sales are down and inventory is coming up (finally), then wouldn't one think that the prices for those homes would have to come down? ETA: Also saw this: home flipping down I'm not sure exactly how they define a home "flipper". From the context of the article, they are defining a flipper as a corporation that buys houses, throws about $50,000 at them to "bring them up to date," then puts them back on the market at a $150,000 markup. Y u hate Capitalism, brah? |
|
|
[#9]
Originally Posted By Kitulu: From the context of the article, they are defining a flipper as a corporation that buys houses, throws about $50,000 at them to "bring them up to date," then puts them back on the market at a $150,000 markup. View Quote That's pretty damn accurate. It's gonna involve lvp or fake wood flooring, grayish blue paint interior and exterior, maybe some new appliances and maybe counter tops. They just increased the price $150k. Flippers used to be taking beat to crap junky houses using cash/hard money to make it a decent home and someone could then get a loan to buy it. |
|
That man is a homo and a liar-TrojanMan
Hell, a Ford just breaks down on you. It doesn't fall apart AND try to kill you at the same time-Bloodsport2885 |
[#10]
Home prices grew at a record pace in January, as more buyers came off the sidelines. And that fierce competition has led to an eruption of bidding wars, which often drives prices even higher. National Association of Realtors (NAR) data shows that during the first month of the year, the typical seller received 2.7 offers, and 16% of homes sold over the asking price. An important contributor to all of this is an inventory crunch. In 2023, existing home sales hit the lowest level since 2005, as would-be sellers who are locked into low mortgage rates stayed put. "There is such a shortage of houses right now, so prices have gone up despite everybody singing the blues," Corcoran said. "It happened simply because there are a lot of buyers and not enough houses available." View Quote https://finance.yahoo.com/news/real-estate-mogul-barbara-corcoran-predicts-interest-rate-cut-could-create-a-surge-in-home-prices-153050003.html |
|
|
[Last Edit: OregonShooter]
[#11]
New month. 30 year mortgage holding at 7% average rate and another month goes by without a market crash.
Home prices nationwide, including distressed sales, increased year over year by 5.5% in February 2024 compared with February 2023. On a month-over-month basis, home prices grew by 0.7% in February 2024 compared with January 2024 (revisions with public records data are standard, and to ensure accuracy, CoreLogic incorporates the newly released public data to provide updated results). Forecast Prices Nationally The CoreLogic HPI Forecast indicates that home prices will rise by 0.4% from February 2024 to March 2024 and increase by 3.1% on a year-over-year basis from February 2024 to February 2025. View Quote |
|
|
[Last Edit: exponentialpi]
[#12]
|
|
What is written is my opinion, and my opinion only.
|
[#13]
|
|
|
[#14]
Originally Posted By wookie1562:
https://pbs.twimg.com/media/GLV87ChWUAEHIep?format=jpg&name=small View Quote Good. Supply and demand is the only natural thing that will bring prices back down to a natural long term 3-5% inflation curve. |
|
|
[#15]
Originally Posted By wookie1562:
https://pbs.twimg.com/media/GLV87ChWUAEHIep?format=jpg&name=small View Quote Investors starting to bail. And hopefully yankees going home. |
|
|
[#16]
Rates back at August 2023 levels
|
|
Arfcom's resident Mortgage guy and VA specialist
|
[Last Edit: Brok3n]
[#17]
Originally Posted By broken_reticle: Investors starting to bail. And hopefully yankees going home. View Quote View All Quotes View All Quotes Originally Posted By broken_reticle: Originally Posted By wookie1562:
https://pbs.twimg.com/media/GLV87ChWUAEHIep?format=jpg&name=small Investors starting to bail. And hopefully yankees going home. Hurricane insurance playing a factor too? What is up with Nevada? CA exodus? eta: https://knpr.org/show/knprs-state-of-nevada/2024-04-16/whats-the-state-of-southern-nevadas-housing-market High home prices persist in Nevada, and nobody thinks they're coming down. Jonathan Gedde, founder and CEO of Simpli Mortgage and Jerry Abbott, a real estate agent with Summit Properties, joined State of Nevada host Joe Schoenmann to talk about the topsy-turvy world of Nevada real estate. Home prices are still increasing, with the median this month at around $466,000. To afford that, household incomes need to be $111,000 or more. At the same time, Gedde said mortgage rates are at about 7.5 percent. That also represents an increase. Even so, Abbott said that hasn't stopped "droves" of Californians from coming here and buying homes. "Las Vegas is California 2.0," said Abbott. "They are without a doubt the biggest driver as to why home prices in Las Vegas have skyrocketed. When you have so many wealthy people who can pay cash, it really destroys the ability for the average person to buy a home." |
|
|
[#18]
anecdotal data point....but just sold my place west side of wa state in metro area. lots of interest and showings. 6 offers in a week. closed for 20% over asking price...gotta love those escalator clauses. we strategically priced it to garner more interest so that accounts for some of why it went for that much over asking. it was a pretty unique place that was only going to appeal to a smaller subset of buyers. but people are still buying at these rate and price levels.
|
|
|
[#19]
Originally Posted By ClownTown: anecdotal data point....but just sold my place west side of wa state in metro area. lots of interest and showings. 6 offers in a week. closed for 20% over asking price...gotta love those escalator clauses. we strategically priced it to garner more interest so that accounts for some of why it went for that much over asking. it was a pretty unique place that was only going to appeal to a smaller subset of buyers. but people are still buying at these rate and price levels. View Quote Yes, there will always be buyers for desirable areas |
|
"They want you dead but will settle for your submission" - Malice
|
[#20]
Originally Posted By wookie1562:
https://pbs.twimg.com/media/GLV87ChWUAEHIep?format=jpg&name=small View Quote I posted in the other thread. The STR bubble is starting to be stressed. |
|
What is written is my opinion, and my opinion only.
|
[#21]
Originally Posted By ClownTown: anecdotal data point....but just sold my place west side of wa state in metro area. lots of interest and showings. 6 offers in a week. closed for 20% over asking price...gotta love those escalator clauses. we strategically priced it to garner more interest so that accounts for some of why it went for that much over asking. it was a pretty unique place that was only going to appeal to a smaller subset of buyers. but people are still buying at these rate and price levels. View Quote User name checks out. User also knows why people use agents to list. |
|
I aint doin nothing,but doing nothing means a lot to me.
|
[#22]
Originally Posted By planemaker: Not sure how this figures into the mix: https://www.zerohedge.com/personal-finance/pending-home-sales-hover-near-record-lows-february So, if home sales are down and inventory is coming up (finally), then wouldn't one think that the prices for those homes would have to come down? ETA: Also saw this: home flipping down I'm not sure exactly how they define a home "flipper". View Quote “I know what I got.” |
|
|
Now fellate me, as I eat this expensive ham.
USA
|
[Last Edit: The_Master_Shake]
[#23]
Nevermind!
|
Look, yes, I have banged HUNDREDS of broads. INTERNATIONALLY. But know this - I wrap my rascal, TWO TIMES, cuz I like it to be joyless and without sensation. It's a way of punishing supermodels.
|
[#24]
Originally Posted By 80085: “I know what I got.” View Quote View All Quotes View All Quotes Originally Posted By 80085: Originally Posted By planemaker: Not sure how this figures into the mix: https://www.zerohedge.com/personal-finance/pending-home-sales-hover-near-record-lows-february So, if home sales are down and inventory is coming up (finally), then wouldn't one think that the prices for those homes would have to come down? ETA: Also saw this: home flipping down I'm not sure exactly how they define a home "flipper". “I know what I got.” Interest rates killed some of the profit unless you're dealing in cash. The rise in housing prices means that, for a lot of middle class people, flipping using cash is far harder then it used to be. |
|
Liberals are a curious mix of communism and fascism, they want to destroy you but want to use your own money to do it.
I'm getting down to the last box, the other have all been destroyed... |
[#25]
I closely followed 4 sales in the last two months in my AO. Three in the low 2M market went immediately and over ask. Fourth started at 3.5 and took a year to get 2.8
Crazy. Low inventory seems to be offsetting the higher rates. |
|
|
[#26]
Mixed bag
If I read this article correctly, sales are down (some significantly) for all but the most expensive houses (>$1mil). Median home prices went up 4.8% YoY, probably owing to high dollar houses selling and moderate priced homes not. Under 5% price increase isn't even covering inflation. They also have a plot showing median new home sale prices going down and median existing home sale prices going up some. My guess is the market is lagging demand some. By that, existing expensive homes still have some demand (too much money chasing too few goods or more money than sense, whichever) but builders aren't building to that, they're building more "affordable" homes. Can't say I blame them there since with rates higher, they can ill afford to be on the hook for $1mil+ houses until they sell. |
|
|
[Last Edit: rfoxtrot]
[#27]
Shits selling red hot here with selling season kicking off. Shit went up again this year. About $20-30ft from what I'm seeing. This was a top 10 market in 2022-2023
Bottom is 225$ now. Lots in the $260 a foot range. lol..... Crash any day now.....lol. Yeah fucking right. Too many folks are doing their level fucking best to leave their blue states behind. $350 a foot before the end of the fucking decade at this dam rate.... All kinds of pending a from a 5 minute look at Zillow |
|
|
[#28]
Originally Posted By wookie1562:
https://pbs.twimg.com/media/GLV87ChWUAEHIep?format=jpg&name=small View Quote Excellent News! Thanks for posting it. |
|
GD- "It's kind of like wading through through slimy lake bed with your feet to find clams below the surface".
- gtfoxy |
Sign up for the ARFCOM weekly newsletter and be entered to win a free ARFCOM membership. One new winner* is announced every week!
You will receive an email every Friday morning featuring the latest chatter from the hottest topics, breaking news surrounding legislation, as well as exclusive deals only available to ARFCOM email subscribers.
AR15.COM is the world's largest firearm community and is a gathering place for firearm enthusiasts of all types.
From hunters and military members, to competition shooters and general firearm enthusiasts, we welcome anyone who values and respects the way of the firearm.
Subscribe to our monthly Newsletter to receive firearm news, product discounts from your favorite Industry Partners, and more.
Copyright © 1996-2024 AR15.COM LLC. All Rights Reserved.
Any use of this content without express written consent is prohibited.
AR15.Com reserves the right to overwrite or replace any affiliate, commercial, or monetizable links, posted by users, with our own.