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***Official Real Estate Thread***
- Thread starter One-Off
- Start date
Doesn't matter.
If you're ignoring the signs and poking around on someone's property up there you're not going to be missed.
I'm sure more than a few landowners/"farmers" have acted accordingly.
66 percent of listings in Hawaii went for over asking in April.
Still a supply demand issue
The Hamptons summer rental market is facing an unexpected chill as inventory piles up and prices come down
After two years of strong demand and soaring prices, the supply of rentals in the Hamptons is surging, leading to a wave of last-minute price cuts.
April means the houses went pending 30-60 days prior. I'll believe the inventory issue when I see the May report when rates were at 5-6%.
definitely seeing a slight market slowdown in my area. for a while the only stuff available were either complete dumps with obvious glaring issues or the really nice houses over 1.5mil and anything decent below 500k was being snatched up instantly. lately i'm seeing some price drops and some reasonable stuff coming on the market that isn't selling in two seconds.
many of the properties sold in the past couple years around here were turned into short term rentals and i'm sure some of them are still renting but just anecdotally the vacassa across the street from my GF's house in town has only been rented once this year for one night so far.
many of the properties sold in the past couple years around here were turned into short term rentals and i'm sure some of them are still renting but just anecdotally the vacassa across the street from my GF's house in town has only been rented once this year for one night so far.
Do you think that the inventory is all of a sudden going to be fixed in a month.
The core of the issue is still supply and demand and not monetary policy.
Rent is still through the roof everywhere too so it’s not like the alternative is better and people going to stop buying.
Use San Diego for an example.
Rent is 4500 minimum per month for a house within commuting distance to the San Diego.
Where exactly the incentive to not buy? Cause some interest rate is 5.5 now instead of 2.5? The brokers are setting up the loans to buy points down anyway and rates are at mid 3s with points worked into the loan.
At the end of the day people gotta live somewhere and areas near Southern California or Hawaii aren’t really seeing price drops.
All the mortgages are fixed rates and everyone refinanced with low fixed monthly payments. So unless they absolutely have too, they’re not going too sell and will just rent out if they move furthering shortage of homes.
"We are anticipating seeing a kind of turning point within the next month or two in terms of home-price appreciation slowing down, but that does not mean home prices are going to get cheaper. It just means they aren't going to get as expensive as fast," said Zillow economist Nicole Bachaud.”
The core issue isn't monetary policy? Do you honestly think the 40% run up of home prices in California and Hawaii was driven by supply issues?
Someone employed by a real estate firm saying houses won't get cheaper. Not buying it.
What Bob said is completely false. The DA decided whether you are charged in an altercation and you will always be charged in an incident you could’ve avoided. No one fights drug addicts because they have nothing to lose and you do.
First, want to make clear I do not plan on going for a walk in the "neighborhood" if I visit there during the season, or any other time for that matter. Known and maintained trails, sure, wandering through the bush outside of the property boundary, nope.
Second, am wondering if people think that anyone else would go wandering around. I don't want to be camping on one of those terraces and have someone traipse through looking for goodies. Maybe the local potheads are smart enough not to risk their neck, but I don't know. I guess this is what I am trying to suss out. (I would only visit the property if my friends were there, and would camp because the 'residence' is big enough for one queen bed, a kitchenette, and sitting room...outdoor toilet and wash basin.)
I'm guessing the property seller was very minor player in the local market and when pot was legalized, demand for his product dropped off or he found the hurdle to go legit too much of a headache.....so sell while the property market is hot. Hopefully, seller was an organic gardener and the terraces weren't doused with who knows what.
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So luxury rentals had to cut their prices from $2500/night to $1500 . . . OMG sky is fallingThe Hamptons summer rental market is facing an unexpected chill as inventory piles up and prices come down
After two years of strong demand and soaring prices, the supply of rentals in the Hamptons is surging, leading to a wave of last-minute price cuts.www.cnbc.com
mapache bought a place out there and has been renovating it for summer rental...he said he was making his mortgage with just his summer rentals.The Hamptons summer rental market is facing an unexpected chill as inventory piles up and prices come down
After two years of strong demand and soaring prices, the supply of rentals in the Hamptons is surging, leading to a wave of last-minute price cuts.
that guy is a savant
Yeah, I was being facetious. Our agent sold the house next door a couple of years ago and said the occupant (owner) had serious addiction issues back then. Makes you wonder that the bank couldn't get the person out themselves. I assume they tried, before putting it on the market. Having an incalcitrant, drug addicted, foreclosed owner occupying the property is not a major selling point. And then there's the fact that there are kids involved. Evicting a family might put kids on the street. Becomes a moral dilemma IMHO. No thanks. But fuk the location was nice, walking distance to a state park.
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Sure the prices increased more then usual cause monetary policy.
But you have yet to give any good reasons or indicators for why the prices will drop. Drop, not slow down. Drop. There might be less buyers year over year but that doesn’t mean house prices are going down.
You seem To refuse to accept the basic economic theory of supply and demand And keep repeating monetary policy.
Great so it’s more expensive. Still haven’t fixed the supply issue of the shortage of homes.
There is a housing shortage. i dunno why you refuse to accept. After 2008 no one built.
Add to that every single home is on a low fixed rate mortgage. So why would anyone sell now unless they have too? Easier to just rent it out.
Here is an easy one for you:
Would you sell your house if you moved or rent it cause you got a low interest rate?
if you answered rent; there You go. That’s the shortage Of homes for sale.
False.
Depending on the state.
And complexion.
edit.
charged, probably, convicted- see notes
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Every house sold within a mile radius of my house in the last year has gotten $200K+ over asking. Not many homes sold, though. No one wants to sell and move out.
I have this conversation a lot: we're all paper millionaires sitting on huge equity $, but if we sold our houses, where would we go that's nicer?
I have this conversation a lot: we're all paper millionaires sitting on huge equity $, but if we sold our houses, where would we go that's nicer?