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Thread: Real Estate Crash thread
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05-18-2020, 08:57 PM #8926
It was everybody. Only one lady out of everyone (except me) had a mask on.
The way people are acting it's like nothing is happening.
The other weekend when it was nice, one large family (NY plates) had a little changing tent set up in front of their Sienna and was picnicking in the parking lot.
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05-18-2020, 09:05 PM #8927
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05-18-2020, 09:08 PM #8928
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05-18-2020, 09:50 PM #8929Banned
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05-19-2020, 09:26 AM #8930
New home consgtruction down 30% for April. I would anticipate May will follow similar numbers.
https://www.bloomberg.com/news/artic...-february-2015
But they continue to build in Central Oregon like the DOW is at 30k, and UE rate is at 4%...."We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch
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05-20-2020, 10:26 AM #8931
Must be quite a few potential home buyers out there that feel pretty comfortable with their finances and job situation.
https://finance.yahoo.com/news/mortg...144552869.html
The volume of purchase applications grew 6% last week versus the previous one, according to the Mortgage Bankers Association. Purchase activity is now just 1.5% off from last year, an improvement over six weeks ago when it was 35% lower than a year ago."We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch
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05-20-2020, 02:55 PM #8932Banned
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In the Seattle bedroom community I work in, new homes in the $800k-1M price range are selling faster than we can review and issue the permit applications for them. May is already the busiest month I've had in 2020 in terms of inspection volume.
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05-20-2020, 03:03 PM #8933Hucked to flat once
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Boise is still hot. Multiple offers quick. High end $750k+ is slowing slightly but my realtor friends are still in high cotton.
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05-20-2020, 03:17 PM #8934Registered User
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05-20-2020, 03:42 PM #8935Registered User
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05-20-2020, 03:47 PM #8936Banned
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Don't sweat it too much, you can still rent a nice 2 bed/1 bath apartment for $2100-2500 a month if you call the landlord within 4 minutes of the listing being posted.
And while you're in your rental, you can scour the market and see shitholes that are either in white trash heaven (ok, ok, talking about white trash heaven and the PNW is redundant, I know) or would be razed in most of the rest of the country get gobbled up in a matter of hours in the $500k-750k range.
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05-20-2020, 05:01 PM #8937Registered User
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05-20-2020, 05:08 PM #8938
A flip in my neighborhood sold for $21k above asking in two days last month. Ended up selling for $610k.
Zillow is predicting a YoY price decline for my hood for the first time ever-
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05-20-2020, 05:40 PM #8939Banned
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Sorry, not trying to piss in your Cheerios. Good luck with the move!
ETA: One silver lining of the COVID thing is that even with the state starting to open back up, congestion and traffic are still far more tolerable than they were before. Lots of large tech employers having staff WFH, combined with schools being closed has made a big difference there. So savor that!Last edited by glademaster; 05-20-2020 at 06:05 PM.
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05-20-2020, 05:41 PM #8940Hucked to flat once
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I could see overall it being down but I'm not in real estate. The realtors I hang out with have been in the game a long time and focus on the down town core and surrounding areas. Basically the areas that you see in the articles about Boise. Not the 80% of generic tract housing that isn't moving as much.
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05-21-2020, 05:12 AM #8941
CT on the rise
Corona castles more popular than ever
https://www.dailymail.co.uk/news/art...nnecticut.html. . .
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05-21-2020, 06:59 AM #8942
Yep, I imagine we're about to get another wave of Boston residents in southern NH as it's in striking distance for meetings and has no income tax. Also semi-reasonable real estate prices. I feel bad for the locally employed as teachers and others can't compete with Google et Al salaries
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05-21-2020, 07:44 AM #8943
If they didn’t make the jump over the last 20 years, they probably won’t suddenly see NH as anything other than cow hampshire ever.
That being said the farm stand in Kensington is proudly a safe space with plenty of signage explaining so. I couldn’t help but tell them they didn’t need a sign, it’s already written on the license plates but they didn’t get the joke.
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05-21-2020, 08:50 AM #8944
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05-21-2020, 09:13 AM #8945Registered User
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05-21-2020, 09:14 AM #8946
Nope. Well, to the bank.
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05-21-2020, 09:38 AM #8947
Boulder is really active after a brutal April, stats are starting to improve and a ton of property going under contract. I've received 3 new referrals this past week alone (2 buyers, one seller) as well as a new Zillow buyer for my listings up in Nederland (and hell no, I don't pay Zillow for leads).
Trying to remain optimistic, I have a closing in a couple of weeks and I'm really grateful to be working.
Sent from my Pixel 3a using Tapatalk
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05-21-2020, 09:57 AM #8948
good to hear!
I think it will be a while (if ever) before the lower end of the Boulder market stumbles badly, but like the recession, inventory may dry up as everyone decides to just hold.
If I had a $1.5M+ property and was hoping to sell soon, I'd be getting nervous (which may be part of why things are heating up, people who had near term plans to sell are pushing to the market now)."fuck off you asshat gaper shit for brains fucktard wanker." - Jesus Christ
"She was tossing her bean salad with the vigor of a Drunken Pop princess so I walked out of the corner and said.... "need a hand?"" - Odin
"everybody's got their hooks into you, fuck em....forge on motherfuckers, drag all those bitches across the goal line with you." - (not so) ill-advised strategy
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05-21-2020, 10:20 AM #8949
It seems like an even smaller supply is the main driver in keeping prices propped in the markets I follow. Even if there are fewer buyers, there are even fewer sellers.
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05-21-2020, 10:36 AM #8950
Real Estate Crash thread
This. Figure some prevailing thoughts along the lines of ‘’if we had got that house we were outbid on last October then we would be in the same position we are in now, and turns out that’s still where we want to be.’’ I’m curious to see if there are also a significant amount of buyers waiting for the supply flood that is almost sure to happen at some point. It feels that way from what I can tell but there’s no way to quantify it (obviously).
Last edited by Self Jupiter; 05-21-2020 at 11:24 AM.
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