Real Estate Crash thread

[Kevo]

When I was looking for a house in Teton Valley last year I looked at a house in a certain golf course community but passed on it.

A house with the same floor plan and a similar lot came on the market last week for 50% more than the one I looked at last year. It went under contract to an all cash offer in two days.

Good to hear inventory is coming up in other places. Seems like Teton Valley still has a buying frenzy happening because of a lack of inventory.

[yeahman]

The savings will be offset by $80 tram add-ons.

Ha. Not for Gold Pass royalty such as myself.

I gotta say, having already made my room reservations for next season, I was pleasantly surprised at the deals I got. Way cheaper than last year, maybe because I made them in the spring rather than waiting until August. But seriously, if I can stay overnight at those rates, no way would I ever consider buying a place there.

[Toadman]

When I was looking for a house in Teton Valley last year I looked at a house in a certain golf course community but passed on it.

A house with the same floor plan and a similar lot came on the market last week for 50% more than the one I looked at last year. It went under contract to an all cash offer in two days.

Good to hear inventory is coming up in other places. Seems like Teton Valley still has a buying frenzy happening because of a lack of inventory.

At the end of the day, and when all the cows have come home, it all comes down to supply and demand. And those 3 words that every dirt pimp repeats; location, location....location.

[Core Shot]

https://www.dailymail.co.uk/news/art...hborhoods.html

Yay! Timeshare single family homes!!!

[AK47bp]

$800k for a long in the tooth mobile home in North Bend, anyone?
https://www.redfin.com/WA/North-Bend.../home/55551964

Security camera monitor in the kitchen is a nice touch - do you think they're cooking meth or growing weed?

Meth. It’s North Bend.

Actually not too bad for 6 acres with that view. Keep the in ground pool and tear down everything else.


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[4matic]

Open houses coming back in Ca. That helps me looking around. I only need Redfin rep for one or two stops.

[Benny Profane]

At the end of the day, and when all the cows have come home, it all comes down to supply and demand. And those 3 words that every dirt pimp repeats; location, location....location.

Yeah, but, it's the same location location location as four years ago.

[54-46]

Open houses coming back in Ca. That helps me looking around. I only need Redfin rep for one or two stops.

Where you looking?

[4matic]

Where you looking?

Inland Empire East Sac, EDH, GB, Folsom.

[54-46]

Inland Empire East Sac, EDH, GB, Folsom.

My cousin’s wife was recently the Mayor of Folsom. Lemme know if you want info…

[Conundrum]

My cousin’s wife was recently the Mayor of Folsom. Lemme know if you want info…

Pics? You know how this works right?

[54-46]

Pics? You know how this works right?

You don’t want pics. Staying positive: she is smart and a good mom. If TGR wife standard is a 7 at the top end, then what’s the low end of acceptability?

[MontuckyFried]

If TGR wife standard is a 7 at the top end, then what’s the low end of acceptability?

Depends on how far upstate one is.

[nickbokhoven]

Open houses coming back in Ca. That helps me looking around. I only need Redfin rep for one or two stops.

What is interesting here in San Diego is that the ability to have open houses seems to have cooled the market. When everything was appointments, people’s bias for scarcity was amped up. Oh, I have to get a 15 minute slot. Everyone is looking and here comes the next. It flipped people’s lid. Now that the scarcity principle is not getting triggered as bad, I see a lot of homes sitting, selling for less than asking, and inventory rising. I am supposed to close next week on my sale and hoping my buyer doesn’t walk from his earnest money. I am pretty sure I would not get the same money if I have to go back on the market.


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[4matic]

I’m guessing it’s agents hoping to work dual or fishing for clients because low inventory. But, anecdotally it’s slowed down according to some

[AdironRider]

Out here in Idaho we've been wide ass open for months and it hasn't hurt us yet.

[californiagrown]

My cousin’s wife was recently the Mayor of Folsom. Lemme know if you want info…

Similar to Lodi, the song which made the city famous gives a good hint as to how desirable it is to live there....

On a fun note, my parents friends apparently just moved to Sultan, WA for retirement from their current house in Palo Alto, CA. For anyone who knows these two cities, you can understand how dumbfounded i was. That's the real estate equivalent of Cristiano Ronaldo settling for a mountain town 4.

[Conundrum]

Sultan is pretty backwoods. Amazing kayaking though.

[altasnob]

People commute into microsoft in Redmond from Sulton. Not backwoods, upper tech management with castles on rivers, just like North Bend. It's a pretty interesting dichotomy between the long term meth cookers and new money tech bros.

[Conundrum]

Maybe it has changed so I'll try to stay in my lane. Other than rich bro tech castles, is it still in the woods with a couple dives bars, a pizza place, meth cookers, and a mill? Or did the Michelin restaurants follow the tech money?

[summit]

I'm not sure what is going on in Summit CO, if things have peaked or no...

Demand is still insane in the <800K range from what I hear, but above that it seems to be dropping off in demand with things staying on the market for weeks or months and some having price drops.

The usual gnashing of teeth from the folks who are understandably anxious about being able to get someone to accept their offer for something they could nominally buy.

[Toadman]

People commute into microsoft in Redmond from Sulton. Not backwoods, upper tech management with castles on rivers, just like North Bend. It's a pretty interesting dichotomy between the long term meth cookers and new money tech bros.

It's a symbiotic relationship. Tech bros need their meth too.

[Toadman]

I'm not sure what is going on in Summit CO, if things have peaked or no...

Demand is still insane in the <800K range from what I hear, but above that it seems to be dropping off in demand with things staying on the market for weeks or months and some having price drops.

The usual gnashing of teeth from the folks who are understandably anxious about being able to get someone to accept their offer for something they could nominally buy.

Speaking of which, I haven't heard much about the town of Breck. It all seems to be Aspen this, Vail that, Telluride, and Steamboat. But all the high flying, cash waving Titans of Tech & Industry have spent some of their wads.

[Buster Highmen]

People commute into microsoft in Redmond from Sulton. Not backwoods, upper tech management with castles on rivers, just like North Bend. It's a pretty interesting dichotomy between the long term meth cookers and new money tech bros.

Similar to commuting lawyers and the Tacoma Hill?

[Buster Highmen]

Maybe it has changed so I'll try to stay in my lane. Other than rich bro tech castles, is it still in the woods with a couple dives bars, a pizza place, meth cookers, and a mill? Or did the Michelin restaurants follow the tech money?

No snazzy restaurants, but a lot fewer lower middle class. The timber industry and mills are largely gone, farms too, so it's nice developments and enormous estates mixed in with the meth soaked last remnants of extraction industries.