I bought in this market, we got lucky, only paid 11k more than asking for house that doesn't really need any work. We're we moved from, houses were routinely going for 40-60k over asking. And anything that was affordable needed anywhere from 60-100k worth of work done to it. I wanted to stay in Queens but I couldn't justify the the cost no matter how I tried to figure it. Now I'm on long island like a schmuck. I feel like Henry at the end of goodfellas lol. Where we bought, homes are in contract within a week. I know a few couples that have been looking well over a year. We didn't even look that long either. We were watching the market for several months before hand but we only had been actively looking at houses maybe a month, two at the most. I think we even viewed less than ten houses total.
but things might slow down a little with the agencies now taxing on 2nd home and investment
but I'm not too sure, doesn't exactly seem like a buyers market now
i dont see that
because their tenants arent paying rent and cannot be kicked out until September. Rent prices are falling and even Manhattan has 2 bedroom apartments for $2300 per month. That's right, Manhattan.
am in middle America here bough my first house 4 years ago and happy I did. Houses go up for sale and are gone within a day or two. Heard of people having to offer 10k to 15k above asking + covering closing fees to get offers accepted and keep in mind I live in the "minority" part of town. I think we will eventually see a bust but wont be anywhere near as bad as 2008 and to a keratin extent prices will stay inflated.
