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Thread: Real Estate Crash thread
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06-16-2021, 05:19 PM #15176Registered User
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- Apr 2017
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- Encinitas CA
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- 274
I just sold in Encinitas CA. $1.3M home and negotiated 1% selling agent commission and &
2% buyers agent fee. In this market, it should be easy to save that 1/2% on the buyers side. 8 days on MLS. We also used Endpoint for escrow, think fintech in real estate - flat fee $1k on each side. That saved us a chunk of money too.
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06-16-2021, 05:27 PM #15177
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06-16-2021, 05:30 PM #15178
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06-16-2021, 05:32 PM #15179
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06-16-2021, 06:27 PM #15180
Real Estate Crash thread
Sac dirt pimp calls top. Builders starting to offer incentives.
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06-16-2021, 08:37 PM #15181
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06-16-2021, 08:39 PM #15182
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06-17-2021, 10:23 AM #15183
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06-17-2021, 11:22 AM #15184Registered User
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- Nov 2011
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- Missoula
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- 408
https://www.theatlantic.com/ideas/ar...7T11%3A00%3A59
"Far worse than corporations taking a few thousand units off the market for owners are the governments and noisy NIMBYish residents taking millions of units off the market for owners and renters alike—by blocking construction projects in the past few decades. (California alone has an estimated shortage of 3 million housing units.) From New York to California, deep-blue cities and states have amassed a pitiful record of blocking housing construction and failing to meet rising demand with adequate supply. Many of the people tweeting about BlackRock are represented by city councils and state governments, or are surrounded by zoning laws and local ordinances that make home construction something between onerous and impossible."
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06-17-2021, 01:26 PM #15185Registered User
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- Apr 2007
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- Almost Mountains
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- 1,883
https://www.ktvq.com/news/national/c...r-590-000-cash
So for almost $600k, you get rancid meat in the fridge and soiled carpets included. Nice.
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06-17-2021, 01:35 PM #15186
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06-17-2021, 03:57 PM #15187Registered User
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- Apr 2021
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- 2,839
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06-17-2021, 04:00 PM #15188
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06-17-2021, 04:18 PM #15189
At least in my area: Mostly going to be the "cheap" houses (< $250,000 1/1 or 2/1, many of which are in rough shape), which will get snapped up as STR or "Flips" or Rentals by investor groups. Likely will have limited impact on bringing the middle market houses back down to earth (Aka the $400,000 3/2 houses that are presently selling for $700,000.)
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06-17-2021, 05:58 PM #15190
The REIT's are licking their chomps. Those who missed out on deals thinking that prices will drop, or access to lower tier inventory that they possibly might afford coming on line will be sorely disappointed.
Anything that goes into foreclosure will be handled in a very slow, methodical and limited distribution plan. All in order to give the appearance of scarcity and maximize GP."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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06-17-2021, 07:38 PM #15191
Hopefully Biden learned by watching Obama that it would be politically wise to stem foreclosures as much as possible.
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06-17-2021, 08:06 PM #15192
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06-17-2021, 09:21 PM #15193Registered User
- Join Date
- Oct 2018
- Posts
- 527
There are blocks of one story buildings on a main transit corridor zoned for 5 stories near me in Seattle that nobody wants to touch- some of them boarded up for years. A CVS took one of the best corners (complete with parking lot) a couple years ago and one apartment block went in but otherwise nobody seems to want to build. We've got decade old light rail stations with a only few token projects around them. All the development that is increasing units is either in Amazon land or people waiting for grandma to die and make it into 3 townhomes that each cost more than the original building. The city is already zoned to be able to add like 200k more units today.
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06-17-2021, 10:57 PM #15194Registered User
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- Oct 2010
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- 1,951
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06-18-2021, 08:29 AM #15195Registered User
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- Oct 2007
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- 12,609
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06-18-2021, 08:37 AM #15196
Phone calls to Ukraine?
Anyhoo, I am pretty skeptical that I'll be able to find a pretty affordable month to two month rental near a good western mountain after this absurd price hike for almost anything, It's not as though it was cheap and easy beforehand, but, this is getting ridiculous, when something like Harry's one bedroom his a near million dollar sale mark just a decade after the supposed housing crash. Then you look at Driggs, which, just a few years ago, was affordable to mere mortals, and now anything there seems to be hitting seven figures. I know it's been said a million times, but, where the fuck is the workforce for all of these ski hills going to live? And how the fuck can even upper middle class skiers afford the sport?
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06-18-2021, 08:51 AM #15197
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06-18-2021, 08:52 AM #15198Registered User
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- Jan 2010
- Location
- your vacation
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- 4,718
we need a good virus world war or stock market melt down to get this shit under control how come they can't get anything right
affordable housing in the mtns is a joke I wish people would just shut the fuck up
problem has been brewing for 10-15 years but you can't build your way out of the problem morans can't see that if they approve a 100 unit hotel development that means they need 100 employees duh? keep buildling it'll solve all the problems
too many people are getting rich in mtn towns to there is no way they want to pay real wages cause that cuts into their income
benifits don't come to a mtn town for benefits you get to ski ain't that enough cause benefits cut into profits and you have to charge the poor touron more to have fun darn
drug free bus drivers start around 19 an hr? duh?
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06-18-2021, 08:56 AM #15199User
- Join Date
- Oct 2003
- Location
- Ogden
- Posts
- 9,103
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06-18-2021, 08:58 AM #15200
I blame all this on the new generation of powder skis. They make it too easy to ski out West. Lot less of this tomfoolery went on when everyone was on 207cm skinny skis.
"timberridge is terminally vapid" -- a fortune cookie in Yueyang
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