Not sure, but I am busier now than ever. Had my best half year in the 8 years I have been in business.
Not sure, but I am busier now than ever. Had my best half year in the 8 years I have been in business.
"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
Everything you mentioned was true before the virus too
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.
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.
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.
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.
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.
Greg
Edgewater 245CC
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.
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
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.
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.
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.
It's crazy here. Lots of houses sell before they are listed and new construction homes sale before the slabs are poured.
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...."