The Current Real Estate Market

[BigDraw]

Count me in!
I’m gonna put my place on the market in the next week, and can’t wait.
I’m hoping for $135/sqft or more.

[toledo]

Was just looking at B/CS numbers. Might just be gettgetting rolling for us. Active listings have fallen off a cliff.

https://www.bcsrealtor.com/index.php?submenu=areaHousingStatistics&src=gendocs&ref=AreaHousingStatistics&category=forConsumers

[Texas452]

Everything goes in cycles. Good times and bad. It's just we've been in good times so long many younger people don't know the cycle.

Long ago it was common for people to actually consider what gas would cost to go on vacation..or food. And actually look at prices when at stores. Maybe even buy generic. Teachers back then really made squat compared to today. Most have to save pennies to make house payments each month and had no money left for iphones and cable.

I see more waste these days than I ever thought possible. That's about to change IMO

I agree with this totally.
My grandparents lived through the Depression and didn’t waste anything.
We were poor but had a good life when we were kids because we lived in the country and had countless acres to roam (hunt and fish, trap) nobody cared back then.
I learned the lesson of life from my grandparents. If you don’t need it don’t buy it.
Now all my grandkids over 21/2 years old has an I phone.
The Depression was a hard time for lots of people but it made people learn how to save and in the long run made the country stronger
I believe at the rate the country is going handing out money for nothing will cause a lot of damage in the future.

[eradicator]

Count me in!
I’m gonna put my place on the market in the next week, and can’t wait.
I’m hoping for $135/sqft or more.

Houses in my neighborhood are going for $160-$200 sq. ft

[CookieMonster]

Not just the housing market, but the vehicle market as well. Weird financial roller coaster this country is on following a global pandemic and record unemployment.

[Chase This!]

Bubble.

[Big pig]

Count me in!
I’m gonna put my place on the market in the next week, and can’t wait.
I’m hoping for $135/sqft or more.

Where are you moving to? I hope you already have your next home

Good luck on the sale.

BP

[friscopaint]

Got a call yesterday about my place and it's not on the market officially.....shot her $1.35 million and they didn't bat an eye. We had a debate over whether we are leaving money on the table or not but it's a game of hot potato now, sell for 1.35 or sit and get 2 million or goes bust and get $500,000......I'm risk averse at this point in my life.

[bbqfan5909]

What goes up must come down. Interest rates will start to rise and cool the market back down. When exactly that happens, unsure. But its coming and be prepared.

[BlackoutRam2500]

Got a call yesterday about my place and it's not on the market officially.....shot her $1.35 million and they didn't bat an eye. We had a debate over whether we are leaving money on the table or not but it's a game of hot potato now, sell for 1.35 or sit and get 2 million or goes bust and get $500,000......I'm risk averse at this point in my life.

Congratulations! Good for you guys.

Wife and I looked at a house in Ft. Collins in 2012 for $675k. Didn't buy it because we were concerned about having "that big of a mortgage". Same house went on the market and sold for $950k three years later. [emoji15]

Lesson learned. Sit on the sidelines and whine or get in the game. Risk = Reward.



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[brushtrooper]

If you do sell, then what? Find a rental and ride it out? I have 2 homes currently and have been talking about selling both. I guess renting is the best option? We are empty nesters but I have 2 big dogs for pets. If not for them I would park our class A in an RV park and ride it out there.

[Rubberdown]

We had an opportunity to buy our dream property at very fair market value recently. We had moved in with Mom to take care of her and our house had been empty for a year. I called the realtor. It sold before it even went on the market for what I wanted as is cash no inspections. I probably left money on the table but it was gone immediately. That money enabled us to buy our dream property. When the market crashes or at least comes back to normal I’ll buy a small house with a small yard or maybe a condo. Our other house was a maintenance hog and I don’t want to repeat all that. How long y’all think this housing market is going to stay crazy?

[RiverRat1]

Congratulations! Good for you guys.

Wife and I looked at a house in Ft. Collins in 2012 for $675k. Didn't buy it because we were concerned about having "that big of a mortgage". Same house went on the market and sold for $950k three years later. [emoji15]

Lesson learned. Sit on the sidelines and whine or get in the game. Risk = Reward.

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I bet it's well over 2 million by now

For those selling and "waiting for market to cool" be sure and do the math. How much will it cost you to sell? It's usually a lot more than people realize, like 10% plus having to move and then rent + everything that goes along with renting.
Then if you're correct and the markets cool you're going to have fees plus expenses when you buy and then moving again and all that goes along with that.

IMO markets would have to correct 20% at the minimum to break even. 30% to be worth it. I just can't see that happening unless you time it exactly perfect by selling at the peak and then lowballing when you buy and buying at the exact bottom.

[cj7zrcool]

Our first home we bought was a small 3/2 with detached 2 car garage. Right at 1325 sq ft
We bought it in 2001 for 78k & sold it in 2012 for 97k
It just hit the market for 195k

In 1995 I bought a 1565sft 3/2/2 brick home with 20x24 detached game room on 2 acres for $85K. I sold it in 2015 for $169K and thought I'd hit a homerun. I believe that same house would sell for $275K-$300K right now.

My nephew just bought a 60-year-old 2/2/2, 1200sft house on a 1/4 acre lot for $189K

[Drycreek3189]

It makes me wonder what I could get for mine.. but makes me worry how difficult it would be to find another.

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And that my friend, is gonna be the fly in the ointment ! It’s exactly the same as the truck market, I could get a great price on mine, but I would have to rob a **** bank to get another one !