OperationNumbNutts
Superstar
I'm in the DMV area. I'm seeing either homes staying on the market longer or prices reducing. Anyone experiencing this in their area? 
Anyone noticing home prices dropping in their area?
- Thread starter OperationNumbNutts
- Start date
Peruvian Connect
Superstar
i don't know because i stopped looking. But i heard insurance is super high though
Yes.
I’m in Milwaukee, more inventory and prices slowly being reduced. But really for homes under 500k. My guess is boomers are finally getting a reality check or desperate.
Work with an older single boomer who is selling her house for double what’s its worth with lots of work needed, a 300k house being sold for 600k. She was telling me she had no problem selling it for 300k but realtor pushed to double price. House prices are set at what ever someone is willing to pay.
I’m in Milwaukee, more inventory and prices slowly being reduced. But really for homes under 500k. My guess is boomers are finally getting a reality check or desperate.
Work with an older single boomer who is selling her house for double what’s its worth with lots of work needed, a 300k house being sold for 600k. She was telling me she had no problem selling it for 300k but realtor pushed to double price. House prices are set at what ever someone is willing to pay.
This is bullshyt my insurance rose $1700, a friend of mine shyt rose $3200
Yeah, things have slowly improved. I'm also seeing more inventory showing up. I have a very narrow search for houses outside of KC metro, I check almost every day.
The problem is insurance and property taxes are insane now. So, even if housing prices collapse, I'm not sure they'd be much more affordable.
BTW I follow a channel by Melody Wright who does a lot of housing market analysis. This is REAL analysis not the BS ranting on a podcast for an hour.
Some of her info:
* There is no housing shortage; it's all being sat on by the investor class. There are more houses per capita than any time in history
* Millions of houses are vacant (I see this too in my searches; houses with AI furniture or that are empty or have the carpet pulled up which is a sign it's been empty so long mice have ruined the carpet, signs of in complete repairs so a fix and flip went bad)
* She expects a 9% drop this year continuing for a few more years. People were expecting a rate cut to cause mortgate rates to drop which she's been saying for years would not happen. (remember they went UP after the Fed cut rates!)
* There are a LOT of wealthy people commiting fraud which is making the situation worse. Claiming AirBnBs as primary residence's to avoid taxes, buying houses and using hardship programs and deferrals to stay in houses mortgage free until they exhaust the time limits
* Government programs went too far. Thinks a lot of struggling people are in "too much house" and need to sell and move out
* The current market is just the investor class selling to each other keeping prices propped up
I've been holding out to buy but I don't think housing will come down enough for me to move. If they do, it'll probably be a huge economic collapse and buying would be a bad idea.
The problem is insurance and property taxes are insane now. So, even if housing prices collapse, I'm not sure they'd be much more affordable.
BTW I follow a channel by Melody Wright who does a lot of housing market analysis. This is REAL analysis not the BS ranting on a podcast for an hour.
Some of her info:
* There is no housing shortage; it's all being sat on by the investor class. There are more houses per capita than any time in history
* Millions of houses are vacant (I see this too in my searches; houses with AI furniture or that are empty or have the carpet pulled up which is a sign it's been empty so long mice have ruined the carpet, signs of in complete repairs so a fix and flip went bad)
* She expects a 9% drop this year continuing for a few more years. People were expecting a rate cut to cause mortgate rates to drop which she's been saying for years would not happen. (remember they went UP after the Fed cut rates!)
* There are a LOT of wealthy people commiting fraud which is making the situation worse. Claiming AirBnBs as primary residence's to avoid taxes, buying houses and using hardship programs and deferrals to stay in houses mortgage free until they exhaust the time limits
* Government programs went too far. Thinks a lot of struggling people are in "too much house" and need to sell and move out
* The current market is just the investor class selling to each other keeping prices propped up
I've been holding out to buy but I don't think housing will come down enough for me to move. If they do, it'll probably be a huge economic collapse and buying would be a bad idea.
Secure Da Bag
Veteran
Where you live? Why so high?
Recca Gatsby
LWO
Insurance rose like a muthafukka
the cac mamba
Veteran
i just sold my old condo to Opendoor, it's the cash offer department at Redfin
i did the math with my realtor, and i didn't wanna spend anything on upgrading it, plus pay the mortgage for 5 months while it sat on the market. so you take a little hit with the cash offer, but all things considered, it was almost a wash
plus i got paid out in like 3 weeks. just in time for trump crashing the stock market
i did the math with my realtor, and i didn't wanna spend anything on upgrading it, plus pay the mortgage for 5 months while it sat on the market. so you take a little hit with the cash offer, but all things considered, it was almost a wash
plus i got paid out in like 3 weeks. just in time for trump crashing the stock market
You have a weird scenario because of all the Doge layoffs. There are fewer people to support your housing market if the fed workers move homeI'm in the DMV area. I'm seeing either homes staying on the market longer or prices reducing. Anyone experiencing this in their area?
Doobie Doo
Veteran
Seattle has maintained because of lack of inventory, but Portland has plummeted
the cac mamba
Veteran
NYC will never popNYC is still pretty high... bubble still aint pop yet
i don't even know if it will, in general around the country. there's just too much demand. it's like we hit a plateau
REdefinition
Superstar
i just sold my old condo to Opendoor, it's the cash offer department at Redfin
i did the math with my realtor, and i didn't wanna spend anything on upgrading it, plus pay the mortgage for 5 months while it sat on the market. so you take a little hit with the cash offer, but all things considered, it was almost a wash
plus i got paid out in like 3 weeks. just in time for trump crashing the stock market
Say breh, how much difference was there from their initial offer to the final 1? I heard the first offer you see is like a teaser to get you in.
the cac mamba
Veteran
i tried haggling them, they only made 1 offer
straightforward, didn't fukk around on changing the price, paid me out in 3 weeks
for my situation, and this stock market opportunity, it made sense. for some people, it's definitely worth selling to a real seller