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Posted: 3/17/2021 12:23:50 AM EDT
[#1]
Quote HistoryQuoted: What I don't get is that with so many people out of work for so long, how can housing prices by skyrocketing the way they do? When the fundamentals don't match the market, there is something else going on. Most people that are out of work are low wage service economy positions. They are sitting at home not paying rent. |
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Posted: 3/17/2021 12:39:00 AM EDT
[#2]
If you want to see insanity in real estate, come to Augusta, GA. Between Fort Gordon, Cyber Command, Plant Vogtle, Savannah River Site and everything else driving the local economy, this area is almost recession proof.
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Posted: 3/17/2021 12:57:21 AM EDT
[#3]
Well in the last 2 days. My unlisted phone number that I don't spread around. Has gotten 3 calls, with people willing to offer above 200,000 for dumpy rentals that I have. I mean one of them is a 1980s single wide and the other is 1940's military housing. This is nuts, calls out of the clear blue offering 200,000-220,000. For places with a county assessed of less than 100,000. I feel like a dam fool for not taking it..... Like this just isn't right. Phone call cash offers. And sometimes more than one a day, and to me, they don't sound like bad offers.... Starting to be realistic. Just hmmm... something is NOT right.
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Posted: 3/17/2021 12:58:39 AM EDT
[#4]
I get calls and texts every day for the two properties I own.
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Posted: 3/17/2021 1:00:20 AM EDT
[#5]
https://www.uhaul.com/Articles/About/22746/2020-Migration-Trends-U-Haul-Ranks-50-States-By-Migration-Growth/
In OP’s case this may help explain, and it seems to be somewhat accurate as it took a goddamn act of Congress for me to get a one-way Uhaul out of that shithole Washington a couple weeks ago, even the Uhaul customer service reps all around said people were leaving WA in droves since summer Rona season hit. Wa was heavily moved INTO for years due to tech work and chicom invasion/money hiding, but once that went remote it became one of the most (and quickly at that) moved AWAY from states, because, well.. it fucking sucks for so many reasons. I think there’s a lot of market manipulation going on again in W. Wa ( not sure about elsewhere, but Zillow and Redfin are HQ’d in dying seattle and are probably trying to squeeze it for whatever is left), so we’ll see what happens when renters finally can get bounced by landlords for not paying for months and months. My sister-in-law has a condo downtown near Amazon HQ and is now stuck with it, tried selling for months and months with plenty of price reductions but no bites, finally they decided to rent again but even that took a lot of effort and is about 25% less than prior years. Our rental condo in downtown Bellevue is also 25ish% less valuable now than at its peak in 2018/2019, and sat vacant for months, whereas a couple years ago it would’ve been filled within an hour. See it in California and NY as well, wonder what they have in common...  Attached File |
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Posted: 3/17/2021 1:00:53 AM EDT
[#6]
Quote HistoryQuoted: Yes I am in the hold and rent mode and NOT buying anything, unless it's something that I just can't resist, but I haven't bought anything since about 09. I didn't feel that things went right in the last "crash" to me it never really reset the way it should have, it's like the can got kicked down the rd. To me everything just seems so off right now that it makes me nervous. This not being able to event anyone for any reason doesn't give me the warm fuzzies about having a bunch of rentals.... kinda scary times. 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... Quote HistoryQuoted: Quoted: I don't think the first shoe has dropped, much less the second. I don't care, neither buying nor selling RE. But, like you, the entire economy seems bizarre to me right now. Yes I am in the hold and rent mode and NOT buying anything, unless it's something that I just can't resist, but I haven't bought anything since about 09. I didn't feel that things went right in the last "crash" to me it never really reset the way it should have, it's like the can got kicked down the rd. To me everything just seems so off right now that it makes me nervous. This not being able to event anyone for any reason doesn't give me the warm fuzzies about having a bunch of rentals.... kinda scary times. 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... @ibuyre2 If it's not been answered yet: in CCP land during the mao years, landlords were treated as a class category to be murdered and persecuted. https://www.theepochtimes.com/how-mao-radicalized-peasants-to-kill-landlords_2232983.html Refusing to let anyone know you are a landlord is just self-protection in CCPland. |
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Posted: 3/17/2021 1:07:19 AM EDT
[#7]
Anyone know how to advertise real estate without going through a realtor?
I have a couple of small lots in AZ and NM that were never developed, and 20 barren acres in NV. I don't want to jump through the hoops to list on Ebay just for three properties. But now feels like the right time to dump them. I'd be happy to get $10k for the 20 acre piece. We turned down $12k a few years ago but most offers are coming in lowball from people wanting to flip it who already have the necessary system in place to do so. |
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Posted: 3/17/2021 1:08:48 AM EDT
[#8]
For a good exercise in RE trends. Head to Zillow or trulia.
Search MI homes in the northern lower peninsula. For sale, under 100k (which is most of the homes in MI). Exclude those that are pending. You see a few here and there. Now see with “pending” your screen looks like it has chicken pox. They are snatching up anything away from the big city. |
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Posted: 3/17/2021 11:14:07 AM EDT
[#9]
Cheap money and a shitty bond market. The only other place to put money is in RE and equities. Guess why they are so expensive?
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Posted: 3/17/2021 11:17:56 AM EDT
[#10]
Our places in NH and TX get tons of this not Key West, probably a market price driven thing along with trends in where people are moving
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Posted: 3/17/2021 11:28:46 AM EDT
[#11]
Quote HistoryQuoted: For a good exercise in RE trends. Head to Zillow or trulia. Search MI homes in the northern lower peninsula. For sale, under 100k (which is most of the homes in MI). Exclude those that are pending. You see a few here and there. Now see with “pending” your screen looks like it has chicken pox. They are snatching up anything away from the big city. Friend of mine moved there last fall. His wife was from the area and they got a nice place with acreage. |
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Posted: 3/17/2021 11:52:12 AM EDT
[#12]
Quote HistoryQuoted: Most people that are out of work are low wage service economy positions. They are sitting at home not paying rent. Quote HistoryQuoted: Quoted: What I don't get is that with so many people out of work for so long, how can housing prices by skyrocketing the way they do? When the fundamentals don't match the market, there is something else going on. Most people that are out of work are low wage service economy positions. They are sitting at home not paying rent. There are some industries that are raking in shit tons of cash because people are dropping their stimulus checks. Combine that with urban violence and remote work, and you get an exodus. Some of you guys in redder and/or more peaceful areas have no idea just how bad the political violence has gotten. And it's not just the antifa/BLM asshats... it's all the enablers - you know, the cat lady next door with all the political signs out front - cheering it on. People understand that their neighbors are going to stab them in the back, and they are GTFO'ing. Also don't underestimate the number of wealthier moonbats fleeing their shithole cities because they can no longer go pub crawling every day. The "but the food here is great!" excuse no longer works when the county shuts down all the food places. |
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Posted: 4/10/2021 8:46:08 AM EDT
[#13]
Where are the cheap houses these days?
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Posted: 4/10/2021 10:48:27 AM EDT
[#14]
Quote HistoryQuoted: Where are the cheap houses these days? |
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Posted: 4/10/2021 11:46:15 AM EDT
[#15]
Quote HistoryQuoted: https://www.uhaul.com/Articles/About/22746/2020-Migration-Trends-U-Haul-Ranks-50-States-By-Migration-Growth/ Top states people are fleeing TO : Tennessee, Texas, Florida. It saddens me to admit this but those red bastions of conservative policies are done. No way they survive this locust invasion from blue states. |
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Posted: 4/10/2021 11:52:32 AM EDT
[#16]
Yeah...I just got an offer on a house I paid 54k for in 2016 for...wait for it...
105k  I’m not fucking selling it. I make stupid profit off of it each month and would only use the profit from selling it to buy another rental, which means I’d basically break even in this market. Now if they up that to 150k I might be forced to bite as I could just pay off my house, but I’m not in this for 20-30k profit after taxes. |
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Posted: 4/10/2021 11:59:43 AM EDT
[#17]
In the last few months the unsolicited offers for my rural lots have gone from <1% of their actual value to 8-10% or even higher. Something has changed.
Mike |
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Posted: 4/10/2021 2:49:28 PM EDT
[#18]
Quote HistoryQuoted: If you want to see insanity in real estate, come to Augusta, GA. Between Fort Gordon, Cyber Command, Plant Vogtle, Savannah River Site and everything else driving the local economy, this area is almost recession proof. |
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Posted: 4/19/2021 12:29:12 AM EDT
[#19]
How long before single wide mobile homes make a comeback because that's all most people can afford? |
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Posted: 4/19/2021 1:46:19 AM EDT
[#20]
Quote HistoryQuoted: How long before single wide mobile homes make a comeback because that's all most people can afford? You mean tiny houses? 
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Posted: 4/22/2021 8:33:18 AM EDT
[#21]
Quote HistoryQuoted: You mean tiny houses? Quote HistoryQuoted: Quoted: How long before single wide mobile homes make a comeback because that's all most people can afford? You mean tiny houses? Hmm. Hadn't thought of that. Tiny houses are just a third of a single wide, typically with no plumbing. A true poverty abode! Only now lumber costs too much to build even a tiny home. @SBR_Slut |
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Posted: 4/24/2021 6:26:11 PM EDT
[#22]
Quote HistoryQuoted: Hmm. Hadn't thought of that. Tiny houses are just a third of a single wide, typically with no plumbing. A true poverty abode! Only now lumber costs too much to build even a tiny home. @SBR_Slut Quote HistoryQuoted: Quoted: Quoted: How long before single wide mobile homes make a comeback because that's all most people can afford? You mean tiny houses? Hmm. Hadn't thought of that. Tiny houses are just a third of a single wide, typically with no plumbing. A true poverty abode! Only now lumber costs too much to build even a tiny home. @SBR_Slut The news keeps getting better!  |
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Posted: 4/29/2021 6:37:06 PM EDT
[#23]
How long until house prices come down? Are the deadbeat renters going to be kicked out soon? I just can't believe things will keep going like they are.
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Posted: 5/7/2021 10:34:52 PM EDT
[#24]
Anyone found any real estate bargains lately?
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Posted: 5/7/2021 10:36:45 PM EDT
[#25]
Turns out the house I bought a year ago has, according to Zillow (which isn't gospel), appreciated $40k. And here I was worried I paid too much.
Gained over 7k in the last month. |
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Posted: 5/8/2021 2:29:44 AM EDT
[#26]
Shits cray out there man.
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Posted: 5/8/2021 2:35:12 AM EDT
[#27]
Quote HistoryQuoted: can confirm. paid 274 in jan 2020. worth 313 already. its nuts. Idaho says, "Hold my beer" |
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Posted: 5/8/2021 3:38:15 AM EDT
[#28]
Shit is selling but who is buying?
Which investors? Which foreign govs? Who is doing the buying may be of more value to know than just that things are selling. |
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Posted: 5/8/2021 2:48:35 PM EDT
[#29]
Quote HistoryQuoted: Shit is selling but who is buying? Which investors? Which foreign govs? Who is doing the buying may be of more value to know than just that things are selling. Allegedly 1 in 5 single family's sold are to "permeant capital" = hedge funds |
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Posted: 5/17/2021 11:38:12 PM EDT
[#30]
Quote HistoryQuoted: Allegedly 1 in 5 single family's sold are to "permeant capital" = hedge funds Quote HistoryQuoted: Quoted: Shit is selling but who is buying? Which investors? Which foreign govs? Who is doing the buying may be of more value to know than just that things are selling. Allegedly 1 in 5 single family's sold are to "permeant capital" = hedge funds Are they just trying to put their money somewhere that it won't lose value? Or are they trying to become landlords for decades? |
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Posted: 5/17/2021 11:50:41 PM EDT
[#31]
Quote HistoryQuoted: You mean tiny houses? Quote HistoryQuoted: Quoted: How long before single wide mobile homes make a comeback because that's all most people can afford? You mean tiny houses? Mobile home manufacturers should have long since jumped on the idea of restyling them into “tiny homes”. I mean,what would it really take? Larger windows and faux shipping container siding? |
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Posted: 5/18/2021 10:15:00 PM EDT
[#32]
Quote HistoryQuoted: Mobile home manufacturers should have long since jumped on the idea of restyling them into “tiny homes”. I mean,what would it really take? Larger windows and faux shipping container siding? That's actually a great idea! |
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Posted: 5/30/2021 11:18:08 PM EDT
[#33]
Maybe the changes in the real estate market will lead to more houses being built out of different materials? I'd like to see more houses built out of concrete.
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Posted: 5/31/2021 2:54:57 AM EDT
[#34]
Quote HistoryQuoted: Turns out the house I bought a year ago has, according to Zillow (which isn't gospel), appreciated $40k. And here I was worried I paid too much. Gained over 7k in the last month. 
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Posted: 5/31/2021 3:03:04 AM EDT
[#35]
Quote HistoryQuoted: Maybe the changes in the real estate market will lead to more houses being built out of different materials? I'd like to see more houses built out of concrete. |
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Posted: 5/31/2021 1:43:37 PM EDT
[#36]
Around me real estate has gone insane. We are probably up 30% for the year. The area I just bought some investment property is up about 25% over the last 5 months. I think covid accelerated some latent trends in urban migration patterns. Pre-covid, more people were waiting till retirement. Covid greatly accelerated working from home, allowing a much younger flee from urban to rural environments/retirement/recreational areas.
It really amazes me that in 30 years I have seen man here go from $800/acre to $15k, and the 10k to 15k has happened in 1 year. |
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Posted: 5/31/2021 11:21:09 PM EDT
[#37]
Things are still nuts. Some of the offers coming in now are tempting. But then look on the market for comps and OMG, prices have gone though the roof. Rual with some acreage 2-7ac, it is insane. I just had a hedge fund offer me 125,000 for 5 ac in a flood plane that needs a bridge for access. But then looked at what 5 ac places (of raw land) in that area are selling for. None on the market, but the last few sold in days for 300,000-400,000. For a vacant 5 ac lot, in a area with a good chance of flooding. Makes me wonder what a bridge will cost, and hmmm maybe keep holding it. These would have been 60,000-70,000 before this new round of huffing the crack pipe, that the re market is doing.
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