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  1. Member jbassman87's Avatar
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    Yates Center, KS
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    24,542
    #41
    Not sure, but I am busier now than ever. Had my best half year in the 8 years I have been in business.

  2. NOT a Pro Angler sdbrison's Avatar
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    Jan 2011
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    Clarksville, TN
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    #42
    Quote Originally Posted by Duece22 View Post
    Not 100% just interest rate. The inventory levels are stupid low right now. In my market, we have maybe 2 or 3 decent homes listed at 1 time.
    Low inventory is a big driver here also. 500 to 600 homes on the market when there is normal average around 1,800. The builders will catch up in another 6-12 months
    "If People Concentrated on the Really Important Things in Life, There'd be a Shortage of Fishing Poles." - Doug Larson
    "Peace is not the absence of turmoil but the presence of God" Jo-Ann Thomack

  3. Member juice780's Avatar
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    Jan 2012
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    Valdese nc
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    18,604
    #43
    Everything you mentioned was true before the virus too

  4. Member Stein's Avatar
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    Nov 2006
    Location
    Lincoln NE / Saigon, Vietnam
    Posts
    4,009
    #44
    I just sold my lake house in AR on Bull Shoals Lake. It had been on the market for two years, mainly becuase it was over double the median house price in the area. I didn't have a written offer in those two years until last month. Closing in September.

  5. Member
    Join Date
    Jan 2011
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    Wethersfield, Ct
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    12,354
    #45
    Good friends put a bid on a house locally. While they were waiting on the bank someone showed up with cash and paid above the asking price. Next door neighbors are moving soon. They would have left this weekend except the tropical storm just passed over their new home an hour ago in Maryland. They expect to sell their place next door in less than a week.

  6. Member C130's Avatar
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    Nov 2016
    Location
    Magnolia, TX
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    3,616
    #46
    Market is hot here. My wife is a real estate agent. Low interest rates and limited inventory here are resulting in homes selling very quick.

  7. Member
    Join Date
    Jul 2020
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    Virginia/FLA
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    968
    #47
    Quote Originally Posted by Riccochet View Post
    For those thinking the prices will come back down. To what level do you think they'll come down to? Seriously curious as to your thinking around this.

    Just looking at housing market pricing data for the past 40 years says you'r wrong. There will always be dips, but the market has trended up since the forever.
    well overall I think you are mostly correct, but don’t forget that 40year increase is indexed for inflation. I have no idea of what they will go down to. I believe low low low interest rates are driving prices up up up. When that happens prices will need to drop to compensate.

    Some will benefit Most will not. Our entire economy is built on credit and most are over extended. The sellers market is also a myth because unless you own multiple homes and are selling to profit you must sell one to buy one it’s all relative.
    There is also a tremendous cost to maintain a home and that needs to be factored in the seemingly overall profit.

  8. Banned
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    Aug 2013
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    Florida
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    16,186
    #48
    Quote Originally Posted by Phoenix 921 View Post
    My wife as a real estate company with 4 agents, in northern Wyoming. She says it's a lot of people leaving big cities coming to the country, mostly out of California for us.
    Those out in TheBurbs™ 'may' get screwed IF....

    Better check: AFFH


    Initially, the AFFH used HUD grants to bring suburban communities into compliance. Local communities could make a decision not to pursue these grants and retain local control of zoning. This funding would be nearly impossible for communities to forego.

  9. Member
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    Jan 2017
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    Huntington WV
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    #49
    Quote Originally Posted by Phoenix 921 View Post
    My wife as a real estate company with 4 agents, in northern Wyoming. She says it's a lot of people leaving big cities coming to the country, mostly out of California for us.
    Yes people moving out of those crazy taxes and laws and homelessness in CA cities.

  10. Member
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    Mar 2007
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    Titusville
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    #50
    Quote Originally Posted by C130 View Post
    Market is hot here. My wife is a real estate agent. Low interest rates and limited inventory here are resulting in homes selling very quick.
    I know several people moving from Illinois to Texas recently. Can’t say as I’m surprised.
    Greg
    Edgewater 245CC

  11. Member
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    Nov 2012
    Location
    Senatobia, MS & Cleveland, TN
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    260
    #51
    My wife put a for sale sign up in our front yard. We didn’t list it with a realtor and we had 4 offers within 48 hours. Sold it for above asking price and about $22,000 more than what we paid for it 3 years before.

  12. Member
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    Titusville
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    #52
    Is there a strategy around listing a house at market value, knowing offers will come in above listing? I’m curious if the realtor doesn’t fully understand the market or if this is planned? Crazy or crazy like a fox?
    Greg
    Edgewater 245CC

  13. Member
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    St. Paris
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    7,293
    #53
    Quote Originally Posted by GregA View Post
    Is there a strategy around listing a house at market value, knowing offers will come in above listing? I’m curious if the realtor doesn’t fully understand the market or if this is planned? Crazy or crazy like a fox?
    Its not so much understanding markets, but we go off previous sales. We have to list a house and make sure what it sells for, it will appraise for.

  14. Banned
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    Aug 2011
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    Boerne & Three Rivers, Texas
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    #54
    Quote Originally Posted by Riccochet View Post
    For those thinking the prices will come back down. To what level do you think they'll come down to? Seriously curious as to your thinking around this.

    Just looking at housing market pricing data for the past 40 years says you're wrong. There will always be dips, but the market has trended up since the forever.
    They won’t come down, you can’t build a new house for what a used house cost. Building cost are through the roof and won’t be dropping anytime soon, they will only get worse. Housing supplies are becoming very limited, we already have a 6 week wait on doors & from. Our tile manufactures can’t get the raw materials to make tile, about to be a big mess with time deadlines not being met.

  15. Banned
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    Jul 2016
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    Skiatook, Oklahoma
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    7,952
    #55
    Closed on my new house last week. Was hell trying to find a new house many were actually sold before ever being listed. Agent told me their is fewer houses on the market and buyer from both coasts buying sight unseen.

  16. Member
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    Jul 2007
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    Hampden
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    20,419
    #56
    Quote Originally Posted by Bjxds View Post

    Some will benefit Most will not. Our entire economy is built on credit and most are over extended. The sellers market is also a myth because unless you own multiple homes and are selling to profit you must sell one to buy one it’s all relative.
    Where is the "myth" part? Inventory and interest rates are low so sellers have the advantage. If you sell your home and go to buy another, you are then considered a buyer and will be at a disadvantage. I agree that it's all relative. You receive a premium on the house you sell and you pay a premium on the house you buy. Financially it will probably be a wash if you stay in the same market.

  17. Member
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    Nov 2012
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    Nederland, Tx
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    #57
    It's crazy here. Lots of houses sell before they are listed and new construction homes sale before the slabs are poured.

  18. Member
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    Jun 2008
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    St. Paris
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    7,293
    #58
    Quote Originally Posted by grout-scout View Post
    They won’t come down, you can’t build a new house for what a used house cost. Building cost are through the roof and won’t be dropping anytime soon, they will only get worse. Housing supplies are becoming very limited, we already have a 6 week wait on doors & from. Our tile manufactures can’t get the raw materials to make tile, about to be a big mess with time deadlines not being met.
    Maybe in Texas, but in Ohio, you can build right now cheaper than buying.

  19. Banned
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    Mar 2014
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    Unionville, NC
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    8,911
    #59
    Quote Originally Posted by Bjxds View Post
    well overall I think you are mostly correct, but don’t forget that 40year increase is indexed for inflation. I have no idea of what they will go down to. I believe low low low interest rates are driving prices up up up. When that happens prices will need to drop to compensate.

    Some will benefit Most will not. Our entire economy is built on credit and most are over extended. The sellers market is also a myth because unless you own multiple homes and are selling to profit you must sell one to buy one it’s all relative.
    There is also a tremendous cost to maintain a home and that needs to be factored in the seemingly overall profit.
    Are you assuming that the cost of living, wages, inflation will not continue to go up? These are all driving factors to the cost of housing.

  20. Banned
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    Aug 2013
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    Florida
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    16,186
    #60
    Got to mix-in what everyone was thinking... Oh, the Madness™



    Guten Tag


    The Ode to Angus Young is at 1:49 for those who remember MTV™ before they wrecked it...

    "I like the idea of a person but people wreck it...."

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