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  1. #8126
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    Real Estate Crash thread

    Haha I missed this comment previous^^
    Serious check in. What are people seeing their local market do in terms of activity and market price? Iíve been skeptical of the trend continuing but Iíll be damned if Seattle area RE isnít on fire again like 3 years ago. Iím losing out on multiple offers as buyers agent with winners bidding 20% over ask.
    My wife wants us to buy the killer mid century modern house about to hit the market next door but Iím feeling uneasy paying this inflated price here at the moment. Pretty sure the combo of; rates and spring are driving things here. Oh and amazon announced 15000 Corp jobs coming to town. Maybe I just buck up and lock in a 3% 30 yr..

    ETA Pretty stout list of employers coming to town in addition to Amazon. Talking Bellevue, Kirkland, Redmond.. outside Seattle -but there too.

  2. #8127
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    We put our house up for sale February 20 and a couple days later the stock market tanked. (Last time we put it up 2 days before Trump instituted China tariffs and all that uncertainty it led to in the shortish term). We have not had a single person interested in seeing the place in the 2+ weeks it's been on the market this time. So from a limited sample of 1, shit kinda sucks now in real estate.

  3. #8128
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    Bad timing aside, you're suffering from nicest house on the block syndrome.

  4. #8129
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    Quote Originally Posted by Ted Striker View Post
    Bad timing aside, you're suffering from nicest house on the block syndrome.
    Yup, love your home, hate where it is located. Location, location, location. Sorry man and GLWTS
    Quote Originally Posted by leroy jenkins View Post
    I think you'd have an easier time understanding people if you remembered that 80% of them are fucking morons.
    That is why I like dogs, more than most people.

  5. #8130
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    They just put these up at the bottom of the hill. Not even ski in/out.

    https://www.zillow.com/homedetails/1...86432811_zpid/

  6. #8131
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    Quote Originally Posted by Shredhead View Post
    They just put these up at the bottom of the hill. Not even ski in/out.

    https://www.zillow.com/homedetails/1...86432811_zpid/
    3br 5ba? I guess when you shit gold you'd want a lot of toilets.

  7. #8132
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    Sep 2006
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    Just accepted an offer on our house, all cash, asking price. Had a 2nd offer on same day for asking price and all cash as well. Went with the buyer who is a current NFL QB with a super bowl ring. #noyoucan'ttouchme.

    Market seems to still be very strong in Bend. House was on the market for 8 days. Tons of showings and interest. Yeah, I live in a nice 'hood...

    On to the next adventure.
    "We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch

  8. #8133
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    Oct 2017
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    Quote Originally Posted by Name Redacted View Post
    3br 5ba? I guess when you shit gold you'd want a lot of toilets.
    honestly, having two guest bathrooms in a small house like that has more to do with allowing your more eccentric party guests to rail coke and fuck each other without bothering the more conservative guests. one becomes a shitter and the other just serves as a private space; by eliminating conflict, this allows for people to turn a blind eye to an extended bathroom visit.

  9. #8134
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    Dec 2016
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    Quote Originally Posted by Toadman View Post
    Just accepted an offer on our house, all cash, asking price. Had a 2nd offer on same day for asking price and all cash as well. Went with the buyer who is a current NFL QB with a super bowl ring. #noyoucan'ttouchme.

    Market seems to still be very strong in Bend. House was on the market for 8 days. Tons of showings and interest. Yeah, I live in a nice 'hood...

    On to the next adventure.
    Solid. If you donít mind>> Buying againóspending up or buying down?
    Stay around Bend or greener pastures?

  10. #8135
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    ^^^ Staying in Bend. Will end up spending a bit more for the bigger garage and the nicer view.
    "We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch

  11. #8136
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    Quote Originally Posted by LesterSmoove View Post
    honestly, having two guest bathrooms in a small house like that has more to do with allowing your more eccentric party guests to rail coke and fuck each other without bothering the more conservative guests. one becomes a shitter and the other just serves as a private space; by eliminating conflict, this allows for people to turn a blind eye to an extended bathroom visit.
    Fair enough. Can't fault a good party pad.

  12. #8137
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    Yeah, my first reaction too. Fuck pit.

    Let's do some livin'
    After, we die

  13. #8138
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    Soooo, real estate guys. What's happening and what's gonna happen with this market in these times? I'm clueless, don't own any property; simply interested in analysis, thoughts, opinions.
    Master of mediocrity.

  14. #8139
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    Too early to tell.

    Let's do some livin'
    After, we die

  15. #8140
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    Sep 2006
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    Still closing. Earnest money put down a few weeks ago. Dude signed a nice 7 figure salary for this season, if there's a season. Kind of weird knowing what your buyer makes...Should have listed the house for more. Oh well. As a friend said, "best not to go there."
    "We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch

  16. #8141
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    Learn the laws like this guy

  17. #8142
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    Quote Originally Posted by swissiphic View Post
    Soooo, real estate guys. What's happening and what's gonna happen with this market in these times? I'm clueless, don't own any property; simply interested in analysis, thoughts, opinions.
    We are about to have unemployment that is worse than the 2008 financial crisis.

    Real estate is going to follow the stock market off a cliff.

  18. #8143
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    I don't know. Sure, a lot of missed mortgage payments, but RE isn't all bubbled up with wild credit speculation ten layers deep in the financial system. Hot markets will suddenly suck, like, ahem, Denver, but I'll bet Trump and the Republicans will protect "homeowners" in an election year. It's not the greatest market, anyway, at the moment, and, as always, you gotta live somewhere.

    Let's do some livin'
    After, we die

  19. #8144
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    Quote Originally Posted by Benny Profane View Post
    I don't know. Sure, a lot of missed mortgage payments, but RE isn't all bubbled up with wild credit speculation ten layers deep in the financial system. Hot markets will suddenly suck, like, ahem, Denver, but I'll bet Trump and the Republicans will protect "homeowners" in an election year. It's not the greatest market, anyway, at the moment, and, as always, you gotta live somewhere.
    Yeah, Colorado is about to lose a 200k+ oil and gas jobs of top of the hundreds of thousands of restaurant, hospitality and tourism jobs we just lost.

    That's a lot of houses that are going to go into foreclosure and a lot of rentals that aren't going to collect rent, leading to rental foreclosures.

  20. #8145
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    Sep 2006
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    From Redfin...

    https://www.redfin.com/blog/coronavi...uirySource=367

    On Thursday, the housing market took a turn for the worse. A week ago, we reported that nationwide homebuyer demand had weakened meaningfully, but from high levels. We measure homebuying demand by looking at the annual growth rate in people going on their first home tours with a Redfin agent.

    Growth in Home Buying Demand: Thirty to Zero in Two Weeks

    This week, home-buying demand took a big hit, with year-over-year growth dropping from nearly 27% in January and February to 1% growth over the past seven days. There has in fact been a 1% contraction in demand over the past three days. This decline is unsurprising, now that governments in San Francisco and Philadelphia are telling residents to stay home. Traffic growth to Redfin’s website has also slowed from around 20% through the first two months of 2020 to high single digits over the past week.

    Many Open Houses Canceled; Some Like a Disney Ride

    Redfin has canceled open houses nationwide for public safety. One Redfin agent in Hoboken, New Jersey, Noah Goldberg, visited another broker’s open house that was letting small groups into the property, one group at a time. “There were six groups lined up on the sidewalk like a ride at Disney, and this was after the curfew announcement.” As of Tuesday, Noah said, demand was down: “Two weekends ago, coronavirus was something that was happening somewhere else. Now I have about half the activity I once did.”
    "We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch

  21. #8146
    Luxury market will be slaughtered. Foreclosures will skyrocket across the board, so a lot depends on how banks manage REO strategy. And how politicians manage banks managing REOs.

    speaking of https://financialservices.house.gov/...-_03.18.20.pdf

    8. Ban All Evictions, Foreclosures, and Repossessions--Including Manufactured Homes, RVs,and Cars Nationwide. Because businesses are closing and many people do not have access tounemployment insurance or paid sick leave, an eviction and foreclosure ban is needed to ensurethat people can safely quarantine in their homes, if necessary. Vehicles should not be repossessedduring the pandemic as Americans will need their transportation in order to obtain food or medicalcare. A foreclosure moratorium should include a ban on initiating judicial or non-judicialforeclosures, moving for order of sale, continuing any foreclosure process, or executingforeclosure sales and post-foreclosure evictions. Los Angeles County is among severaljurisdictions that have already instituted a ban on evictions.

    9. Suspend Rental and Utility Payments for Assisted Renters and Provide Rental and UtilityPayment Assistance for Non-Assisted Renters. The Federal government should immediatelysuspend rental and utility payments for Federal public and assisted housing residents to ensurethey have the financial resources necessary to address the expected economic hardships of thecrisis. The Federal government should provide sufficient funding for housing providers to accountfor this loss of revenue as well as increased administrative costs associated with mitigatingCOVID-19 risks in assisted housing developments. Similarly, the Federal government shouldprovide $100 billion to help non-assisted renters who meet certain economic conditions cover theirrent and utility payments.

    10. Require Forbearance for Mortgages on Rental Properties. To the extent that owners of rentalproperties continue to have trouble servicing their debt during the suspension of rental andpayment and evictions even with the rental assistance fund, they should get forbearance on theirmortgages as necessary. The National Community Stabilization Fund, National MultifamilyHousing Council, and National Apartment Association support this proposal.

  22. #8147
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    Well, maybe that condo in Co. will be mine soon. I gave up on that some time ago, but, strange times.

    Let's do some livin'
    After, we die

  23. #8148
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    Quote Originally Posted by Benny Profane View Post
    Well, maybe that condo in Co. will be mine soon. I gave up on that some time ago, but, strange times.
    You'll be able to buy a condo, but there won't be any skiing for a couple years.

  24. #8149
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    Quote Originally Posted by Benny Profane View Post
    Well, maybe that condo in Co. will be mine soon. I gave up on that some time ago, but, strange times.
    And you will rot away
    All alone with nobody to love
    Just your internet friendís

  25. #8150
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    Hey, I'll have a condo in Colorado. And you won't.
    Because you're some cube drone from New Jersey with an ugly wife and ugly kid, and soon you'll lose your miserable job and ugly wife and overpriced house and go live under a bridge. And rot. Haha

    Let's do some livin'
    After, we die

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