Ok, I'm going to politely request none of you outbid me on this gem.
Link
Looks 1/2-way done at this point.....
Link
Looks 1/2-way done at this point.....
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***Official Real Estate Thread***
- Thread starter One-Off
- Start date
Even with the soul-crushing interest rates and home prices.... Rent vs. Buy calculators are telling me to buy. And that's a conservative estimate that assumes home price growth is at 4.5% YoY (half of what it's been for past 30-year average).
I FHA ‘d my way into a home with 2% down (pillaged easily from 401 k) and that home value has doubled in value in 8 years. PMI ONLY LASTED A little while before I had the equity to refi. First refi was great second even better. 2.25 % fixed for 15 years. Monthly payments easily half of what they’ve been in the past, and current. A steal I say 
. I basically bought the house with no money down in 2014. Now , no pmi and an absurdly nice monthly payment. And our home on the beach is a money maker whilst we surf and yoga and learn the celllo in Nica . Even if we sell, and buy a cute little condo someplace, we be styling. But I think $75 k for the summer rental pays all our bills and living in Nica for 9 months is cheap and amazing. That’s the plan. Let mr home and investments float my early exit from corporate work with several other passive and active incomes. Can’t wait.
. I basically bought the house with no money down in 2014. Now , no pmi and an absurdly nice monthly payment. And our home on the beach is a money maker whilst we surf and yoga and learn the celllo in Nica . Even if we sell, and buy a cute little condo someplace, we be styling. But I think $75 k for the summer rental pays all our bills and living in Nica for 9 months is cheap and amazing. That’s the plan. Let mr home and investments float my early exit from corporate work with several other passive and active incomes. Can’t wait.
I previously posted regarding rents in hotspots dropping due to oversupply...
www.marketwatch.com
"Before the pandemic, there were around 725,000 units under construction nationwide, CoStar data revealed, with around 337,000 “absorbed” over the last 12 months. The term absorption refers to how much space — or units — are leased in a given period. It essentially is a metric investors use to track when a tenant occupies a space and when the space is unused."
And they kept ramping up. As of the first quarter of 2023, 1.08 million apartments were under construction. But only 131,310 units are being absorbed — a far cry from where we were just a year ago, Littell said.
Unlike the broader housing market which is facing a major shortage of homes for sale, in the apartment rental space, “there’s not a supply issue,” Littell said. “The supply issue would be, we’ve got too much coming.”
“In Austin today, we have 44,000 units under construction, while we have 6,200 units absorbed,” Littell said. In Atlanta, the market is poised to see negative absorption, he added. Negative absorption refers to when the rental unit sees no tenants for a lengthy period of time."
www.redfin.com
Most of the above data from Redfin is asking rent, so I guess that explains figures like "up 4%" in San Diego with so many vacancies in the area.
Real-estate investors flee South for Midwest. Rental growth for the Sun Belt in 2023 is projected at 0%.
Investors are seeing profitability drop in the Sun Belt, according to reports, pushing them towards Midwestern markets
www.marketwatch.com
"Before the pandemic, there were around 725,000 units under construction nationwide, CoStar data revealed, with around 337,000 “absorbed” over the last 12 months. The term absorption refers to how much space — or units — are leased in a given period. It essentially is a metric investors use to track when a tenant occupies a space and when the space is unused."
And they kept ramping up. As of the first quarter of 2023, 1.08 million apartments were under construction. But only 131,310 units are being absorbed — a far cry from where we were just a year ago, Littell said.
Unlike the broader housing market which is facing a major shortage of homes for sale, in the apartment rental space, “there’s not a supply issue,” Littell said. “The supply issue would be, we’ve got too much coming.”
“In Austin today, we have 44,000 units under construction, while we have 6,200 units absorbed,” Littell said. In Atlanta, the market is poised to see negative absorption, he added. Negative absorption refers to when the rental unit sees no tenants for a lengthy period of time."
Rental Market Tracker: Asking Rents Flattened in April as Landlords Faced Rising Vacancies
A rise in new rentals hitting the market coincided with a slowdown in tenant demand, causing rent growth to cool for the 11th-straight month.
www.redfin.com
Most of the above data from Redfin is asking rent, so I guess that explains figures like "up 4%" in San Diego with so many vacancies in the area.
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I can think of a way to fill units......I previously posted regarding rents in hotspots dropping due to oversupply...
Real-estate investors flee South for Midwest. Rental growth for the Sun Belt in 2023 is projected at 0%.
Investors are seeing profitability drop in the Sun Belt, according to reports, pushing them towards Midwestern markets
"Before the pandemic, there were around 725,000 units under construction nationwide, CoStar data revealed, with around 337,000 “absorbed” over the last 12 months. The term absorption refers to how much space — or units — are leased in a given period. It essentially is a metric investors use to track when a tenant occupies a space and when the space is unused."
And they kept ramping up. As of the first quarter of 2023, 1.08 million apartments were under construction. But only 131,310 units are being absorbed — a far cry from where we were just a year ago, Littell said.
Unlike the broader housing market which is facing a major shortage of homes for sale, in the apartment rental space, “there’s not a supply issue,” Littell said. “The supply issue would be, we’ve got too much coming.”
“In Austin today, we have 44,000 units under construction, while we have 6,200 units absorbed,” Littell said. In Atlanta, the market is poised to see negative absorption, he added. Negative absorption refers to when the rental unit sees no tenants for a lengthy period of time."
Rental Market Tracker: Asking Rents Flattened in April as Landlords Faced Rising Vacancies
A rise in new rentals hitting the market coincided with a slowdown in tenant demand, causing rent growth to cool for the 11th-straight month.
Most of the above data from Redfin is asking rent, so I guess that explains figures like "up 4%" in San Diego with so many vacancies in the area.
There aren’t “so many” vaccines in SD. The market is moderating but that’s heAltheaDX after the past few years of crazy. Rents are up over $400/mo over the past 2 years which wasn’t healthy or sustainable.I previously posted regarding rents in hotspots dropping due to oversupply...
Real-estate investors flee South for Midwest. Rental growth for the Sun Belt in 2023 is projected at 0%.
Investors are seeing profitability drop in the Sun Belt, according to reports, pushing them towards Midwestern markets
"Before the pandemic, there were around 725,000 units under construction nationwide, CoStar data revealed, with around 337,000 “absorbed” over the last 12 months. The term absorption refers to how much space — or units — are leased in a given period. It essentially is a metric investors use to track when a tenant occupies a space and when the space is unused."
And they kept ramping up. As of the first quarter of 2023, 1.08 million apartments were under construction. But only 131,310 units are being absorbed — a far cry from where we were just a year ago, Littell said.
Unlike the broader housing market which is facing a major shortage of homes for sale, in the apartment rental space, “there’s not a supply issue,” Littell said. “The supply issue would be, we’ve got too much coming.”
“In Austin today, we have 44,000 units under construction, while we have 6,200 units absorbed,” Littell said. In Atlanta, the market is poised to see negative absorption, he added. Negative absorption refers to when the rental unit sees no tenants for a lengthy period of time."
Rental Market Tracker: Asking Rents Flattened in April as Landlords Faced Rising Vacancies
A rise in new rentals hitting the market coincided with a slowdown in tenant demand, causing rent growth to cool for the 11th-straight month.
Most of the above data from Redfin is asking rent, so I guess that explains figures like "up 4%" in San Diego with so many vacancies in the area.
Phoenix has been on the overbuilt path for a few years already.
Assuming you mean vacancies, as I stated before I can only attest to what I see in my general vicinity and what I know from people living there and there are a huge number of vacancies. Some of these newer locations have been available for 2 years. Plenty of them within a few blocks of my house which is in a very desirable location for work/play.
I just ran an errand around the corner and saw 2 blocks away they're building a new multiunit building across from a building that started leasing 1.5 years ago and still isn't full.
The folks I know still renting say it still sucks. Lots of new units popping up that folks know better than to fall for.
Leave the dense housing with no parking for the transplants who don’t know any better.
Leave the dense housing with no parking for the transplants who don’t know any better.
An old girlfriend is selling her house. Unfortunately it is on the east facing coast of Norway, (no surf), otherwise for under $800,000 it looks really nice (she is an artist who worked for IKEA). Detached guesthouse and private dock. YOu think these photos were taken in summer? Wonder what winter looks like?
They say it's sunny. It's in Norway and overlooks a body of water called Grimstad.
Fokkinell.
Perfect place for some good ole fashioned methtivities
painted over wood paneling . . . 3/7 would not bang.
JK (kinda) it’s a beautiful house. Have PTSD from the cost of having to drywall a property that had crappy paneling. Underside of Stairway in photo 48 looks cool
Does Norway have similar laws as Sweden with regards to owner occupancy requirements and general anti-investment property legislation? I was told that's why there's all these super cheap cute little houses all over the place in Scandinavia.
Seems pretty restrictive but overall better for the working man.
Seems pretty restrictive but overall better for the working man.