Home Buying & Real Estate Thread

[mr jordan04]

Our house has gone up in value 54% in the less than 4 years

I anticipated prices/values to lower due to rates but it continues going up

 

[spizike231]

I can’t picture housing taking a drastic drop. Possibly stagnating but not big dip style drop

 

[deusavertat]

Basement coming along

 

[mr jordan04]

I can’t picture housing taking a drastic drop. Possibly stagnating but not big dip style drop

Agreed.

But there’s gotta be a point where it stops. Mortgages being $4-5k can’t be sustainable for long, especially with literally EVERYTHING costing more daily due to inflation. (Speaking in terms of So Cal)

 

[アミーゴ]

Agreed.

But there’s gotta be a point where it stops. Mortgages being $4-5k can’t be sustainable for long, especially with literally EVERYTHING costing more daily due to inflation. (Speaking in terms of So Cal)

A few prominent markets were down MoM for the first time during the pandemic - the signs are there/coming

 

[mr jordan04]

A few prominent markets were down MoM for the first time during the pandemic - the signs are there/coming

As far as what? sales? Prices? Inventory?

 

[アミーゴ]

As far as what? sales? Prices? Inventory?

Sales - posted about it a few pages back

 

[mr jordan04]

Sales - posted about it a few pages back

Sales are dropping but how much are prices dropping?

 

[アミーゴ]

Sales are dropping but how much are prices dropping?

Average sale price was down 7% - my house is down 90k MoM, first month it’s happened yet

 

[ballinsam23]

Prices haven't dropped in my area yet. Way fewer listings available now though.

 

[mr jordan04]

Average sale price was down 7% - my house is down 90k MoM, first month it’s happened yet

90k in a month

 

[moderndarwin]

Yeah i’m not seeing any real drops in prices. Just not seeing prices increase…which i guess is a win.

If someone out there knows when So.Cal prices gonna drop let me know. I think i’ll wait till October and go full out October and just buy wtv. If house prices haven’t drastically moved downward by October (post summer buying season + a few more months of high rates) i’ve got to accept it’s just never gonna happen.

 

[アミーゴ]

Yeah i’m not seeing any real drops in prices. Just not seeing prices increase…which i guess is a win.

If someone out there knows when So.Cal prices gonna drop let me know. I think i’ll wait till October and go full out October and just buy wtv. If house prices haven’t drastically moved downward by October (post summer buying season + a few more months of high rates) i’ve got to accept it’s just never gonna happen.

SoCal is massive, depends on area brother - I own a condo in SM but that was still up MoM - SF and Seattle were down

 

[アミーゴ]

90k in a month

All paper man - can’t read into it

 

[moderndarwin]

SoCal is massive, depends on area brother - I own a condo in SM but that was still up MoM - SF and Seattle were down

Yeah. I hear ya the waiting game is tough. Since we plan to own the place for at least 7-10 years we’ll probably be okay in the long run wtv we do burr would much rather pay $800k than $875k (we’re looking Irvine and south of it in OC for 3 bedroom 3 baths).

 

[アミーゴ]

Yeah. I hear ya the waiting game is tough. Since we plan to own the place for at least 7-10 years we’ll probably be okay in the long run wtv we do burr would much rather pay $800k than $875k (we’re looking Irvine and south of it in OC for 3 bedroom 3 baths).

Yeah south of OC is going to stay pricey - my parents are over that way, those south OC conservatives ain’t going nowhere (not my parents just their neighbors lol)

 

[geeplus]

just dropped 1m in LA "Noho" these prices aint dropping unfortunately, but that interest rate spike def slowed the market, I put 2 offers and got accepted on both within a day.

 

[アミーゴ]

just dropped 1m in LA "Noho" these prices aint dropping unfortunately, but that interest rate spike def slowed the market, I put 2 offers and got accepted on both within a day.

That should tell you everything - probably would have been in a bidding war a few months ago on both

 

[geeplus]

That should tell you everything - probably would have been in a bidding war a few months ago on both

still had to go almost 60k over asking unfortunately but rates jumped from 3.8 to 6.8 after my escrow was opened. So ill take that as a W

 

[Raji Lowenthal]

still had to go almost 60k over asking unfortunately but rates jumped from 3.8 to 6.8 after my escrow was opened. So ill take that as a W

You def won that bidding war. Congrats on the new property!

 

[turbospartan]

Seeing a decent amount of listings showing price drops in Denver metro. And for whatever its worth, last 3 updates to my Zillow "zestimate" have been drops.

 

[Raji Lowenthal]

I rarely check the value of my house and all the talk had me curious. Price doubled in 9 yrs w minimal renovations. Only done the bathrooms over and starting on 1st unit kitchen at end of summer and 2nd kitchen next year. Only need it for living purposes for 2-3 more years and then I'll just price gouge the local college students and spend my winters in a warmer climate.

 

[s0lefunk]

Valuations coming down is a bit of a relief personally. The profit we could’ve made was very tempting. Especially if we got the basement finished.

Now we can just focus on furnishing it and continuing to make it feel like home.

 

[deusavertat]

Finished the trims today. This carpenter is a beast. Did all of this by himself in 3 days. When I asked him why he doesn't get help, he said I like working alone. Me too fam, respect.

 

[mplsdunk]

Only way to work.