Real Estate Market

[tpack]

What are you seeing in your area? Lots of homes for sale over 60 days on Zillow and Trulia where I live. Lots of Reduced homes from 25 to 50 thousand off the original price and still not selling. Lots of uncertainty going forward with rising interest rates. Texas may better off than the rest of the country for now, but that will not last forever. Still seeing a lot of spec homes being built which surprises me. Our builder we used 5 years ago probably has 20+ house completed or in progress right now. When is this train going to run out of gas??


[ame="https://www.youtube.com/watch?v=eEkySP2K5HQ"]3 Reasons Home Prices Will Fall By 50%...Or More - YouTube[/ame]

[68rustbucket]

20+ spec homes? That’s pretty bold.

[Tom]

20+ spec homes? That’s pretty bold.

Conroe & Huntsville are loaded with spec homes. They are still way overpriced but dropping weekly. bad time to be a homebuilder here pretty soon.

[tpack]

20+ spec homes? That’s pretty bold.

They are in Granbury and surrounding areas. Not all in one town.

[lilbradford]

What are you seeing in your area? Lots of homes for sale over 60 days on Zillow and Trulia where I live. Lots of Reduced homes from 25 to 50 thousand off the original price and still not selling. Lots of uncertainty going forward with rising interest rates. Texas may better off than the rest of the country for now, but that will not last forever. Still seeing a lot of spec homes being built which surprises me. Our builder we used 5 years ago probably has 20+ house completed or in progress right now. When is this train going to run out of gas??


3 Reasons Home Prices Will Fall By 50%...Or More - YouTube

Some builders aggressively marked up margins and are coming off quite a bit. Not all though. The difference between now and the last crash is prices aren’t artificially high because of demand. They are high because of material costs. I know of several builders whose margins didn’t change but obviously the volume did through the boom. However, there were plenty who marked their homes up a ton and those are going to be the ones who are hurting most.

[camoclad]

Seems to be slowing down

[Ætheling]

Some builders aggressively marked up margins and are coming off quite a bit. Not all though. The difference between now and the last crash is prices aren’t artificially high because of demand. They are high because of material costs. I know of several builders whose margins didn’t change but obviously the volume did through the boom. However, there were plenty who marked their homes up a ton and those are going to be the ones who are hurting most.

Demand and lack of supply of labor have driven prices up. Materials are coming back down. Finding good crews cost a lot right now. With interest rates climbing high a lack of demand on the short supply of labor will help ease prices.

[Rubberdown]

Gonna go look at a house Tuesday. I’m liking the market now more than I did six months ago. If this house ain’t the one we will probably wait till January when it’s normally slow and see what we can come up with. But there are a lot of houses sitting and plenty marking down there prices.

[thegrouse]

My area has slowed with listings, but there are still some selling. I am seeing price drops too. Here is a thread from last year

https://discussions.texasbowhunter.com/forums/showthread.php?t=800198&highlight=estate

[dustoffer]

Got a buddy in the RE business, buying larger plots and selling smaller ones---he hasn't bought a thing in 3 years. Says paying $8-10K an acre that is worth $2-3K is just plain stupid.

[WItoTX]

We close on our house on Tuesday. We definitely were way below the asking price, and low enough our mortgage company didn't require an appraisal.

We weren't in a rush and didn't get attached to anything, which helps a lot. There are definitely deals to be had if you have patience.

[Killer]

Train is out of gas already. it’s just coasting to a stop. Interest rates cant go that high and not kill it.

[jer_james]

Market has definitely slowed - but that’s all it could do from what we were seeing. Didn’t see too many offers well below asking price a few years ago. Now it’s fairly common.

[Chew]

We sold at the end of July. Just in time. Living in a small cabin and about to start a home build. Good times and bad I guess. But life is short.

Team Little Debbie Pro Staff

[PEC]

You will begin to see a shift in home sizes. There is still a shortage of houses but most families can’t afford 300-400k homes at 7plus %, not to mention the taxes. The market will adjust by adjusting the home sizes. Instead of 2600-3000 sq ft we will begin to see 1600-2000 sq ft homes be the norm again.