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Posted: 1/1/2021 10:08:30 PM EDT
[#1]
Quote HistoryQuoted: Was told by a bank employee that inverters will buy houses and rent them back to those foreclosed on when foreclosures resume this spring. Own nothing and be happy.  Attached File |
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Posted: 1/1/2021 10:09:12 PM EDT
[#2]
Come gather ‘round people, wherever you roam
And admit that the waters around you have grown And accept it that soon you’ll be drenched to the bone, if your time to you is worth savin’ |
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Posted: 1/1/2021 10:10:23 PM EDT
[#3]
Serious question for you guys since you seem financially savvy and I am definitely not.
I'm in the process of selling my home (paid off years ago) and have absolutely no idea what I should do with the money that I make from the sale. Should I build a home on my land that I own outright, buy a home now, or wait for the housing market to crash and buy a house for less than the current inflated prices? We moved in with our son and will be with him until we buy/build a home. I have no bills. Thanks. |
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Posted: 1/1/2021 10:15:48 PM EDT
[#4]
Quote HistoryQuoted: Serious question for you guys since you seem financially savvy and I am definitely not. I'm in the process of selling my home (paid off years ago) and have absolutely no idea what I should do with the money that I make from the sale. Should I build a home on my land that I own outright, buy a home now, or wait for the housing market to crash and buy a house for less than the current inflated prices? We moved in with our son and will be with him until we buy/build a home. I have no bills. Thanks. If you don’t have a self sufficient rural property, but can afford to start building one, I highly suggest doing so if you don’t want to be forced to do something you don’t want to. Start planning to live as much as you can without using money. They will use commerce as a carrot & a stick. @Skopsko07734 |
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Posted: 1/1/2021 10:19:08 PM EDT
[#5]
I would be tempted to wait a bit before starting to build as the price of construction materials is insane right now.
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Posted: 1/1/2021 10:21:55 PM EDT
[#6]
Quote HistoryQuoted: Yeah, it's the same feeding frenzy right before the bottom falls out again. Great time to sell, but the buyer is probably going to end up underwater in a year and then they walk away from the places just like last time. It feels exactly the same. |
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Posted: 1/1/2021 10:25:04 PM EDT
[#7]
It has started back up with a vengeance.
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Posted: 1/1/2021 10:27:21 PM EDT
[#8]
Quoted: So for the last few years. Not a day goes by where I don't have a phone call or 1 or more letters or post cards in the mail trying to buy some chunk of land that I own. It's a everyday thing, and for the last 6 months has been really bad, but it's been going on for a couple of years, started with like one a week and got to the point it was EVERY DAY. ... I've never received a call from a BUYER that wanted to BUY my properties. I get tons of AGENTS calling that want to LIST my property in the local MLS. Evidently some service sells lists of owner names/numbers to desperate agents. |
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Posted: 1/1/2021 10:39:16 PM EDT
[#9]
Quote HistoryThat's it.  Zoolander - Crazy Pills (Will Ferrell) |
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Posted: 1/1/2021 10:47:31 PM EDT
[#10]
Quote HistoryQuoted: I watch the stock market, RE market, liquidation market, auction market and raw land market all the time. Have for years and years and made a ton of money in each of those areas. Today I stand confused and bewildered. I've not seen a monetary market like we have today. Normally I seek things that are "imbalanced" as that is where the profit potential is. Normally. We were in the DFW area over Christmas and I saw something I've NEVER seen before. There is a section of Highway in a nice community with all the normal amenities that has several "chain hotels" with frontage on the Highway. ALL were 100% DEVOID of cars in the parking lot. I know this area quite well (40 plus years) and I was shocked at what we saw. Wife and I were in town to visit my son and we were staying in our motorhome. Went out for dinner and I just can't get what we saw out of my mind. With all the restaurants going out, office bldgs. sitting vacant and now ANOTHER sign shows up today. I'm an auction buyer of a fairly wide range of equipment. Hence my normal routine consists of monitoring many auction firms and their event calendars around the country. Many of the bigger outfits are postponing auctions BECAUSE THEY CAN'T SERVICE THE DEMAND. Bad times are coming. I'm going bunker mentality in light of the chart I saw the other day of the St. Louis FED M-1 chart. Wow. Just my opinion. Ya, this economy is going to blow up tremendously. I was thinking like OP for awhile. Hence, in June, I sold my rental and in August I paid off my house in anticipation of a bad election (hunker down and remove myself from the system). That has now come to pass and now the next phase seems to be starting...nothing in the media yet, but those loosers are always behind the curve. |
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Posted: 1/1/2021 10:55:07 PM EDT
[#11]
Quote HistoryQuoted: I think there is this pervasive misconception among us working remotely. Many believe this is the "new normal" and this was last in perpetuity. Covid probably has....maybe 4 months left. At some point it's going to be "back to work folks." All the mental and financial gymnastics associated with the transition to working at home are going to have to be unwound. The "new normal" will be the fucking horror going back to work (office) 5 days a week is going to be. Nobody is talking about it and people are literally buying houses in remote areas thinking it's never going to end. Buying $2000+ Peloton bikes with $40-$50/month payments. The claims like "I'm never going back to a gym." The "back to work" transition is going to a big issue. You think Covid problems will be gone in four months? I hope so, but highly unlikely. |
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Posted: 1/1/2021 11:00:43 PM EDT
[#12]
Quote HistoryQuoted: You think Covid problems will be gone in four months? I hope so, but highly unlikely. Quote HistoryQuoted: Quoted: I think there is this pervasive misconception among us working remotely. Many believe this is the "new normal" and this was last in perpetuity. Covid probably has....maybe 4 months left. At some point it's going to be "back to work folks." All the mental and financial gymnastics associated with the transition to working at home are going to have to be unwound. The "new normal" will be the fucking horror going back to work (office) 5 days a week is going to be. Nobody is talking about it and people are literally buying houses in remote areas thinking it's never going to end. Buying $2000+ Peloton bikes with $40-$50/month payments. The claims like "I'm never going back to a gym." The "back to work" transition is going to a big issue. You think Covid problems will be gone in four months? I hope so, but highly unlikely. Average national daily infection rate x numbers of days since Feb 15, 2015 = herd immunity by April 1st. Every past Covid that comprise 15% of the common colds, - the existing four - are/were fast movers. These include 229E (alpha coronavirus), NL63 (alpha coronavirus), OC43 (beta coronavirus) and HKU1 (beta coronavirus) https://www.cdc.gov/coronavirus/types.html https://consultqd.clevelandclinic.org/coronaviruses-have-been-around-for-centuries-what-differentiates-2019-ncov/ The shutdowns just delayed what should be over. |
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Posted: 1/1/2021 11:07:26 PM EDT
[#13]
Just wait until the moratorium is lifted for evictions...
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Posted: 1/1/2021 11:08:13 PM EDT
[#14]
Quote HistoryQuoted: group buy? My employer just closed on the property a few days ago. 
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Posted: 1/1/2021 11:15:06 PM EDT
[#15]
Quote HistoryQuoted: My employer just closed on the property a few days ago. Quote HistoryQuoted: Quoted: group buy? My employer just closed on the property a few days ago. 
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Posted: 1/1/2021 11:27:18 PM EDT
[#16]
Quote HistoryQuoted: Do you actually receive calls from buyers? I've never received a call from a BUYER that wanted to BUY my properties. I get tons of AGENTS calling that want to LIST my property in the local MLS. Evidently some service sells lists of owner names/numbers to desperate agents. I used to get agent calls.... last 2 years it's been almost ALL buyers. lol I used to do that, and always had a fair price to offer on the phone to cut right to the chase. Found that worked best. These buyers haven't figured that out yet. They are more doing the MASS calling and if you want a offer now, how about $5,000 for your 160k place. OR if you are willing to sell, I will have someone with the authority to buy call you back with market price, and you can negotiate the price on the phone. It's not re agents, it's call centers, and used car salesman clones doing the buying. I haven't sold anything to them. but talked to several to try and figure out who's doing this. I think it's either china or wall street. They hide who it really is. Plus there's the normal flippers trying to buy places under market. BUT part of reason for thread. They ALL stopped about 2 weeks after the election. Makes me think the big money is getting cold feet..... is it a first sign??? I don't know, hence the thread. |
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Posted: 1/1/2021 11:27:35 PM EDT
[#17]
Quote HistoryQuoted: Can you expand on this? Not sure I understand. You're saying there is massive demands to list commercial properties in auctions? Ya, this economy is going to blow up tremendously. I was thinking like OP for awhile. Hence, in June, I sold my rental and in August I paid off my house in anticipation of a bad election (hunker down and remove myself from the system). That has now come to pass and now the next phase seems to be starting...nothing in the media yet, but those loosers are always behind the curve. Quote HistoryQuoted: Quoted: I watch the stock market, RE market, liquidation market, auction market and raw land market all the time. Have for years and years and made a ton of money in each of those areas. Today I stand confused and bewildered. I've not seen a monetary market like we have today. Normally I seek things that are "imbalanced" as that is where the profit potential is. Normally. We were in the DFW area over Christmas and I saw something I've NEVER seen before. There is a section of Highway in a nice community with all the normal amenities that has several "chain hotels" with frontage on the Highway. ALL were 100% DEVOID of cars in the parking lot. I know this area quite well (40 plus years) and I was shocked at what we saw. Wife and I were in town to visit my son and we were staying in our motorhome. Went out for dinner and I just can't get what we saw out of my mind. With all the restaurants going out, office bldgs. sitting vacant and now ANOTHER sign shows up today. I'm an auction buyer of a fairly wide range of equipment. Hence my normal routine consists of monitoring many auction firms and their event calendars around the country. Many of the bigger outfits are postponing auctions BECAUSE THEY CAN'T SERVICE THE DEMAND. Bad times are coming. I'm going bunker mentality in light of the chart I saw the other day of the St. Louis FED M-1 chart. Wow. Just my opinion. Ya, this economy is going to blow up tremendously. I was thinking like OP for awhile. Hence, in June, I sold my rental and in August I paid off my house in anticipation of a bad election (hunker down and remove myself from the system). That has now come to pass and now the next phase seems to be starting...nothing in the media yet, but those loosers are always behind the curve. Example. Restaurant equipment. It is a commodity just like anything else. Normally there are used restaurant equipment companies that buy/sell as a business model. With the advent of Covid and the closure rate or failure rate of restaurants zooming the amount of used equipment has exploded. Why go to a "normal" vendor of used equipment when you can hopefully pick up that new dish washer at a better price via the auction route. Consequence? The "normal" guys have huge inventories because none of their restaurant customers are buying. THEY ARE ALL SELLING TOO!!! The sale may not be a normal sale as the bankruptcy of a restaurant isn't a normal sale but it is still a SALE. The result is a market flooded with used equipment and no buyers. Extend the thought a bit and the issues reach all the way into the OEM manufacturers. Add in the absolute LACK of demand for equipment and you'll see companies like Vulcan and other big names that sell into that industry begin to shrink and then possibly fail. This scenario is playing out all over the "blue" states and it's large enough to have national implications in the restaurant equipment arena. The exact same thing is happening in other feeder industries. I could go on but the bottom line is we're in for some rough rough times. |
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Posted: 1/1/2021 11:33:03 PM EDT
[#18]
Quote HistoryQuoted: Can you expand on this? Not sure I understand. You're saying there is massive demands to list commercial properties in auctions? Ya, this economy is going to blow up tremendously. I was thinking like OP for awhile. Hence, in June, I sold my rental and in August I paid off my house in anticipation of a bad election (hunker down and remove myself from the system). That has now come to pass and now the next phase seems to be starting...nothing in the media yet, but those loosers are always behind the curve. I think he's talking about equipment auctions, and companies going under selling off all there stuff. I used to follow that a lot. Back in 08 or so it was the first warning something was going to crash to me. Auctions started having NO buyers, heavy equipment prices where off like 50% and little stuff.... the bottom fell out. Buy a truck load of small tools and equipment (worth 10s of thousands) would sell for $250. It didn't last long. Sounds like they don't want to risk auctions right now because they are afraid it will be like then with no buyers... and they don't want to sell stuff for pennies. So we may not see the deflation that we saw last time hmmmmm.... |
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Posted: 1/1/2021 11:52:42 PM EDT
[#19]
Quote HistoryQuoted: Example. Restaurant equipment. It is a commodity just like anything else. Normally there are used restaurant equipment companies that buy/sell as a business model. With the advent of Covid and the closure rate or failure rate of restaurants zooming the amount of used equipment has exploded. Why go to a "normal" vendor of used equipment when you can hopefully pick up that new dish washer at a better price via the auction route. Consequence? The "normal" guys have huge inventories because none of their restaurant customers are buying. THEY ARE ALL SELLING TOO!!! The sale may not be a normal sale as the bankruptcy of a restaurant isn't a normal sale but it is still a SALE. The result is a market flooded with used equipment and no buyers. Extend the thought a bit and the issues reach all the way into the OEM manufacturers. Add in the absolute LACK of demand for equipment and you'll see companies like Vulcan and other big names that sell into that industry begin to shrink and then possibly fail. This scenario is playing out all over the "blue" states and it's large enough to have national implications in the restaurant equipment arena. The exact same thing is happening in other feeder industries. I could go on but the bottom line is we're in for some rough rough times. 
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Posted: 1/1/2021 11:56:02 PM EDT
[#20]
I got my first calls of that type, ever, after the election.
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Posted: 1/2/2021 1:27:52 AM EDT
[#21]
Quote HistoryQuoted: Was told by a bank employee that inverters will buy houses and rent them back to those foreclosed on when foreclosures resume this spring. Own nothing and be happy. You'll never truly own a house here in America thanks to property tax. Don't or can't afford to pay the tax? Congrats, you no longer "own" that house. In other parts of the world in places such as Malta, you actually own the property outright with no perpetual property tax (except a one time 8% tax at time of sale). Food for thought. |
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Posted: 1/2/2021 1:38:53 PM EDT
[#22]
Quote HistoryQuoted: That happened six months ago. Everyone in that position is waiting for the lease to be up. Quote HistoryQuoted: Quoted: I'm worried about the Commercial Real Estate market. There's a lot of big office spaces just sitting vacant because people are working from home because of covid. How long before this companies get the idea that they don't need all that space? Maybe it's not 100% WFH, but they keep 20-30% of the current space and make it reservable for when you're needed to be onsite for whatever reason. That could lead to a lot of fallout in that market. That happened six months ago. Everyone in that position is waiting for the lease to be up. I think there will some opportunities to convert office space to residential. People will want a larger place, in particular, a home office area. |
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Posted: 1/2/2021 4:45:05 PM EDT
[#23]
Quote HistoryQuoted: No I don't and that thread is such a beast I don't know if I could find it. Probably in the first 100-200 pages. And I think it was on youtube so they probably took it down. china really clamped down on those videos getting out. It was in the early days. Before it got to the US. Quote HistoryQuoted: Quoted: Don't by chance still have a link to the video do you? No I don't and that thread is such a beast I don't know if I could find it. Probably in the first 100-200 pages. And I think it was on youtube so they probably took it down. china really clamped down on those videos getting out. It was in the early days. Before it got to the US. I don't know if I saw that one but I definitely remember watching the video of China welding the apartment doors and leaving people trapped. |
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Posted: 1/2/2021 7:56:55 PM EDT
[#24]
Quote HistoryQuoted: I think there will some opportunities to convert office space to residential. People will want a larger place, in particular, a home office area. All the empty commercial space can be converted into expedient homeless shelters for the masses of newly unemployed. |
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Posted: 1/2/2021 8:00:55 PM EDT
[#25]
Quote HistoryQuoted: All the empty commercial space can be converted into expedient homeless shelters for the masses of newly unemployed. Whether they like it or not! |
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Posted: 1/3/2021 11:27:10 AM EDT
[#26]
Quote HistoryQuoted: Whether they like it or not! Quote HistoryQuoted: Quoted: All the empty commercial space can be converted into expedient homeless shelters for the masses of newly unemployed. Whether they like it or not! Exactly. Actually, they should turn all the abandoned malls into insane asylums for the dangerous, mentally ill homeless people. Only problem is that democrats would find a way to classify Trump supporters as insane and send them there. |
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Posted: 1/3/2021 11:36:58 AM EDT
[#27]
Quote HistoryQuoted:In the china spy thread, I mentioned about going on a date with a young woman that was over hear for "school" but she clearly wasn't hear for school and I pressed her on it and she said she was hear buying RE. And after a while she opened up a little and started saying things that made me wonder. Like she said, "You can't tell anyone you own land or rent places, you have to hide that, because when things change. They will kill all the property owners and land lords" And that she has a whole web of different companies in different states she uses to hide ownership. hmmm not the normal acts or thoughts of a young woman... That's....actually normal for china. The Chinese have a great institutional memory from nearly a century (1870-1970) of constant turmoil, first warlords, then Sino-Japanese War, then more warlords, then the unification of China under the Red Banner, followed by The Great Leap Forward and then the Cultural Revolution -- which took until the 1970s to fully be backed off of. So, for them, hiding property ownership is a sensible thing -- because for nearly a century -- this: "when things change. They will kill all the property owners and land lords" Was Standard Operating Procedure in China. They're parking wealth overseas in Europe, Australia, and the US/Canada for a reason -- and the obfuscation is so that they can legitimately tell the CCP that "no I don't own property in the USA" when shtf again --- when actually Shell Company A which owns Company D does. |
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Posted: 1/3/2021 11:48:50 AM EDT
[#28]
Quote HistoryQuoted: The IRS just sent out a shitload of down payments to help people make poor choices with. Nods are not a poor choice! Fuck off. 
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Posted: 1/3/2021 12:09:16 PM EDT
[#29]
Quote HistoryQuoted: Exactly. Actually, they should turn all the abandoned malls into insane asylums for the dangerous, mentally ill homeless people. Only problem is that democrats would find a way to classify Trump supporters as insane and send them there. Quote HistoryQuoted: Quoted: Quoted: All the empty commercial space can be converted into expedient homeless shelters for the masses of newly unemployed. Whether they like it or not! Exactly. Actually, they should turn all the abandoned malls into insane asylums for the dangerous, mentally ill homeless people. Only problem is that democrats would find a way to classify Trump supporters as insane and send them there. more likely to be called “going home” centers 
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Posted: 1/3/2021 12:13:17 PM EDT
[#30]
I don’t see how the housing market is sustainable at this rate. Housing prices have gone through the roof everywhere here, the crappiest parts of town, the good areas, the rural areas, the small towns. 40k houses in 2010 going for 200k today. Before the housing drop that 40k house was selling for 60k.
Inflation can’t be the only cause of the rise in prices. I think we are in for a 50% drop in prices. If either the stock market or the housing market drops, either one will bring down the other. All those over valued companies are going to go bankrupt. It sounds like doom, but I think people think the things going on today will always go on this way. I mean at this rate if housing prices keep going the way they are you will need half a million to buy the crappiest house in the crappiest neighborhood, it won’t keep going up at this pace. The same thing during a downturn, the stock market drops 50%, well in 5 years at that rate it will be at 0, and that’s not going to happen. It’s not like a downturn is always a bad thing, it’s a reality check. |
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Posted: 1/3/2021 12:21:57 PM EDT
[#31]
Quote HistoryQuoted: Yeah, it's the same feeding frenzy right before the bottom falls out again. Great time to sell, but the buyer is probably going to end up underwater in a year and then they walk away from the places just like last time. They won't be walking away this time, the law changed in favor of the banks. |
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Posted: 1/3/2021 12:29:30 PM EDT
[#32]
Quote HistoryQuoted: I stopped because I am not about to rent a place that I cannot boot someone for non-payment. Plus I am packing in cash for when the market crashes. I will either find some good properties to rehab/rent or a new place for myself I have open properties also. Why "rent" to nonpaying squatters that destroy the property? Not only that, this economy has multiple families living in one house; not my house. |
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Posted: 1/3/2021 12:39:06 PM EDT
[#33]
Quote HistoryQuoted: I don't see how the housing market is sustainable at this rate. Housing prices have gone through the roof everywhere here, the crappiest parts of town, the good areas, the rural areas, the small towns. 40k houses in 2010 going for 200k today. Before the housing drop that 40k house was selling for 60k. Inflation can't be the only cause of the rise in prices. I think we are in for a 50% drop in prices. If either the stock market or the housing market drops, either one will bring down the other. All those over valued companies are going to go bankrupt. It sounds like doom, but I think people think the things going on today will always go on this way. I mean at this rate if housing prices keep going the way they are you will need half a million to buy the crappiest house in the crappiest neighborhood, it won't keep going up at this pace. The same thing during a downturn, the stock market drops 50%, well in 5 years at that rate it will be at 0, and that's not going to happen. It's not like a downturn is always a bad thing, it's a reality check. |
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Posted: 1/3/2021 1:19:10 PM EDT
[#34]
Quote HistoryQuoted: Exactly. Actually, they should turn all the abandoned malls into insane asylums for the dangerous, mentally ill homeless people. Only problem is that democrats would find a way to classify Trump supporters as insane and send them there. Well then, let's get the party started. I'm still young enough to be a party-goer. |
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Posted: 1/3/2021 4:57:27 PM EDT
[#35]
I have plans to sell and use my equity to buy a smaller place in a more rural area, just not yet.
Cant take my corporate job with me, so I need to find a replacement. |
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Posted: 1/3/2021 5:07:35 PM EDT
[#36]
Quote HistoryQuoted: I'm worried about the Commercial Real Estate market. There's a lot of big office spaces just sitting vacant because people are working from home because of covid. How long before this companies get the idea that they don't need all that space? Maybe it's not 100% WFH, but they keep 20-30% of the current space and make it reservable for when you're needed to be onsite for whatever reason. That could lead to a lot of fallout in that market. The securitized mortgaged properties are once more at greatest risk. |
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Posted: 1/3/2021 5:44:14 PM EDT
[#37]
Bottom falls out, what ammo do they have left? Rates are crazy low already. I'm guessing all they will lower loan standards and inflate another bubble.
In our area the RE market is nuts from people retiring and fleeing high tax states. They don't even demand the inspection list be fixed, they buy and then sink their own money into it to bring it up to code. Our house doubled in market value in 7 years, we entertained moving, but prices are nuts in the area. |
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Posted: 1/3/2021 5:44:42 PM EDT
[#38]
Quote HistoryQuoted: Bottom falls out, what ammo do they have left? Rates are crazy low already. I'm guessing all they will lower loan standards and inflate another bubble. In our area the RE market is nuts from people retiring and fleeing high tax states. They don't even demand the inspection list be fixed, they buy and then sink their own money into it to bring it up to code. Our house doubled in market value in 7 years, we entertained moving, but prices are nuts in the area. |
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Posted: 1/3/2021 5:58:56 PM EDT
[#39]
In this part of the world the mid-range (300-600k) residential market is just insane. We would see a listing go up in that range, make an appointment the same day to see it, then get there only to be told that the seller took a cash, sight unseen, offer from a buyer from the west coast.
The only reason we found the house we are closing on Friday is because it went back on the market after one of those sight-unseen cash buyers flew in from WA two days before closing and decided that the area was much too rural and the house too much of a project (great shape, weird style from previous update about 4 years ago), so the backed out the deal, giving up their earnest money and whatever they paid for a home inspection and appraisal. Closing has been a bitch, due to long delays from mortgage companies and the belief that anyone who is "self-employed" during covid days is actually unemployed and wanting a cheap mortgage to replace their current one. |
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Posted: 1/3/2021 6:44:14 PM EDT
[#40]
Quote HistoryQuoted: I think there is this pervasive misconception among us working remotely. Many believe this is the "new normal" and this was last in perpetuity. Covid probably has....maybe 4 months left. At some point it's going to be "back to work folks." All the mental and financial gymnastics associated with the transition to working at home are going to have to be unwound. The "new normal" will be the fucking horror going back to work (office) 5 days a week is going to be. Nobody is talking about it and people are literally buying houses in remote areas thinking it's never going to end. Buying $2000+ Peloton bikes with $40-$50/month payments. The claims like "I'm never going back to a gym." The "back to work" transition is going to a big issue. Quote HistoryQuoted: Quoted: I'm worried about the Commercial Real Estate market. There's a lot of big office spaces just sitting vacant because people are working from home because of covid. How long before this companies get the idea that they don't need all that space? Maybe it's not 100% WFH, but they keep 20-30% of the current space and make it reservable for when you're needed to be onsite for whatever reason. That could lead to a lot of fallout in that market. I think there is this pervasive misconception among us working remotely. Many believe this is the "new normal" and this was last in perpetuity. Covid probably has....maybe 4 months left. At some point it's going to be "back to work folks." All the mental and financial gymnastics associated with the transition to working at home are going to have to be unwound. The "new normal" will be the fucking horror going back to work (office) 5 days a week is going to be. Nobody is talking about it and people are literally buying houses in remote areas thinking it's never going to end. Buying $2000+ Peloton bikes with $40-$50/month payments. The claims like "I'm never going back to a gym." The "back to work" transition is going to a big issue. Wife's company dropped their lease, along with a couple of others in other states. Completely WFH now. They are building a new building in AZ. She is keeping an eye on openings there. But, prices out there are insane currently. Even locally for us, people are paying over list price, with houses selling in less than a week. Neighbors place was sold and new owners moved in, in less than a month. |
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Posted: 1/3/2021 7:35:13 PM EDT
[#41]
Quote HistoryQuoted: austin? |
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Posted: 1/3/2021 8:32:07 PM EDT
[#42]
Quote HistoryQuoted: If you don’t have a self sufficient rural property, but can afford to start building one, I highly suggest doing so if you don’t want to be forced to do something you don’t want to. Start planning to live as much as you can without using money. They will use commerce as a carrot & a stick. Quote HistoryQuoted: Quoted: Serious question for you guys since you seem financially savvy and I am definitely not. I'm in the process of selling my home (paid off years ago) and have absolutely no idea what I should do with the money that I make from the sale. Should I build a home on my land that I own outright, buy a home now, or wait for the housing market to crash and buy a house for less than the current inflated prices? We moved in with our son and will be with him until we buy/build a home. I have no bills. Thanks. If you don’t have a self sufficient rural property, but can afford to start building one, I highly suggest doing so if you don’t want to be forced to do something you don’t want to. Start planning to live as much as you can without using money. They will use commerce as a carrot & a stick. I like this approach. My wife and I paid off our home a little over a year ago and I'm currently looking for the right property to build on as well. We'll keep our current home as a rental property in the future once the new 'homestead' is running. |
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Posted: 1/3/2021 8:58:16 PM EDT
[#43]
The market is starting to turn down, look at the latest housing start numbers
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Posted: 1/3/2021 9:35:31 PM EDT
[#44]
Outskirts of DFW area(s) still seem to be building like crazy. People buying the new construction are from out of state and those looking to move further out.
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Posted: 1/3/2021 9:48:43 PM EDT
[#45]
Quote HistoryQuoted: I used to get agent calls.... last 2 years it's been almost ALL buyers. lol I used to do that, and always had a fair price to offer on the phone to cut right to the chase. Found that worked best. These buyers haven't figured that out yet. They are more doing the MASS calling and if you want a offer now, how about $5,000 for your 160k place. OR if you are willing to sell, I will have someone with the authority to buy call you back with market price, and you can negotiate the price on the phone. It's not re agents, it's call centers, and used car salesman clones doing the buying. I haven't sold anything to them. but talked to several to try and figure out who's doing this. I think it's either china or wall street. They hide who it really is. Plus there's the normal flippers trying to buy places under market. BUT part of reason for thread. They ALL stopped about 2 weeks after the election. Makes me think the big money is getting cold feet..... is it a first sign??? I don't know, hence the thread. Quote HistoryQuoted: Quoted: Do you actually receive calls from buyers? I've never received a call from a BUYER that wanted to BUY my properties. I get tons of AGENTS calling that want to LIST my property in the local MLS. Evidently some service sells lists of owner names/numbers to desperate agents. I used to get agent calls.... last 2 years it's been almost ALL buyers. lol I used to do that, and always had a fair price to offer on the phone to cut right to the chase. Found that worked best. These buyers haven't figured that out yet. They are more doing the MASS calling and if you want a offer now, how about $5,000 for your 160k place. OR if you are willing to sell, I will have someone with the authority to buy call you back with market price, and you can negotiate the price on the phone. It's not re agents, it's call centers, and used car salesman clones doing the buying. I haven't sold anything to them. but talked to several to try and figure out who's doing this. I think it's either china or wall street. They hide who it really is. Plus there's the normal flippers trying to buy places under market. BUT part of reason for thread. They ALL stopped about 2 weeks after the election. Makes me think the big money is getting cold feet..... is it a first sign??? I don't know, hence the thread. I tell those pests I'm ready to sell and give a price 4 to 5 times value. "Oh, I saw your house when I drive by ..." No, you didn't, and if you were in my lane you circled through the cul de sac at the end, and you're trespassing. |
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Posted: 1/3/2021 9:53:20 PM EDT
[#46]
Quote HistoryQuoted: Serious question for you guys since you seem financially savvy and I am definitely not. I'm in the process of selling my home (paid off years ago) and have absolutely no idea what I should do with the money that I make from the sale. Should I build a home on my land that I own outright, buy a home now, or wait for the housing market to crash and buy a house for less than the current inflated prices? We moved in with our son and will be with him until we buy/build a home. I have no bills. Thanks. In your position, I'd look for rural property and put a Modular on a basement. I've done the rural off-grid cabin thing and there is a reason it isn't finished 13 years after buying the property. Working on your house/cabin when it is out in the boonies is a fucking pain in the ass and nothing is close. I can't tell you how many times I drive 3 hours to find out I left something I needed and town rolls it's sidewalks up before I can get there. Better to pay to have something ready to go and then DIY your solar etc.. Get something liveable right out of the gate and then go about making it SHTF proof. |
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Posted: 1/3/2021 9:55:13 PM EDT
[#47]
Spell out "RE"
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Posted: 1/3/2021 10:02:41 PM EDT
[#48]
Quote HistoryQuoted: wrong.gif Have you not paid any attention to Fed meetings over the past year? They've been adamant that interest rates will remain at or near zero through at least 2022. Also in case you missed it, Miss Easy Money (Janet Yellen) will be assuming the role of Fed Chief in a few more weeks. Fallen is taking over the Treasury not the Fed. If the economy hears up any more they'll have to slow it down. Affordable housing is also a cornerstone for Biden and Dems. Interest rates have goals set by the Fed, that doesn't mean banks always follow them. |
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Posted: 1/3/2021 10:03:47 PM EDT
[#49]
Quote HistoryQuoted: Just hold out until my refi is done that's all I ask...
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Posted: 1/3/2021 10:11:42 PM EDT
[#50]
Feels like 2007 again, "We buy houses" signs everywhere, real estate investing seminars advertising on the radio, lowball land flippers calling me and sending mail for some property I own, etc.
I just got a house built so with my luck it will lose 30% of it's value by 2022 just like the one I bought in 2007 did in 2009. I make horrible financial decisions and have the worst timing ever with real state so the fact that I just invested all my cash and took out a mortgage to get a nice house built based on current valuations should have everyone terrified
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