For the Real Estate Drop in sales and price Naysayers HOLD ONTO YOUR HATS

[Gonefishin5555]

Yep, sure didn't stop the liberal majority from passing a half TRILLION$ bill to increase Obamacare and a hundred other pork fat bills from passing the senate. Money is nothing to libs. Just print more, we will be OK.

Yeah they will solve inflation by spending more money they don’t have. Fucking genius idea.

 

[HB2Havasu]

Yep, sure didn't stop the liberal majority from passing a half TRILLION$ bill to increase Obamacare and a hundred other pork fat bills from passing the senate. Money is nothing to libs. Just print more, we will be OK.

American Tax Payer: Inflation & Recession is out of control and has to be stopped immediately by cutting spending and regulations.

Democrats: Hold my Beer

 

[RVR SWPR]

Probably missed it but,wtf,why sell that house? You gonna miss it. Awesome house,especially the open connection of kitchen and family areas

 

[Outdrive1]

It didn't take long for this comment to be proven as fucking stupid. For starters, take it at face value. I'm going to take a $100,000-$150,000 hit on a $500,000 asking price because the cabinets are the wrong color? They could be replaced three times for that amount. That's not a step up bar, either. See those stools? Two people live in the house. It's where we eat most of our meals. Is it practical for someone with three kids? I don't care. I built the house the way my wife and I wanted it, and we have lived there for 25 years.

But it turns out that my "honey oak" (they're maple) cabinets, the "gold" pulls (they're stainless steel) and being stuck in the 70s didn't matter. Over fifty people showed up for the Saturday-Sunday open house, and by Monday afternoon we had seven offers. Three were all cash. All were more than the listing price, and we accepted the one that was $65,000 over and waived appraisal. Was it smart to pull the trigger that quickly? Absolutely.

Interest on 30 year loans is near 6%. The Federal Reserve is expected to raise interest rates 75 basis points Wednesday. A survey of market analysts showed just over 50% of them expect another 75 point hike in September.

The National Association of Home Builders/Wells Fargo Housing Index fell dramitically in June.

The National Association of Home Builders/Wells Fargo Housing Market Index, a survey designed to gauge market conditions, found builder sentiment dropped 12 points to 55. That marked the largest single-month drop in the survey's 37-year history with the exception of April 2020, when the reading plummeted 42 points to 30 after the start of the Covid-19 pandemic.

Sentiment stood at 80 in July of last year after hitting a record high of 90 in November 2020, when the pandemic sparked a rash of homebuying among people looking for more space in less urban areas. Now, concerns about inflation and recession are among the factors taking a toll on builder sentiment.

In a statement explaining the battered sentiment, NAHB Chair Jerry Konter said production bottlenecks, rising home building costs and high inflation are causing many builders to halt construction, as the cost of land, construction and financing exceed a home's market value in some cases.

The stock prices of the nation's largest single family home builders has collapsed. Lennar Homes stock has fallen 27.3% in 2022. KB Homes is down 26.9%. Meritage Homes leads in the race to the bottom at 28.2%. These three builders construct the majority of single family homes in North Texas.

Single family listings in DFW declined over 15% from May to June. Building permit applications for new homes fell over 20% in the same period. Inflation increased 9.1% year over year in June. I could post more of the same, but you get the idea. Every day housing becomes less affordable, and the number of people willing to stomach already high prices with interest rate increases piled on top of that is getting smaller. It was time to sell.

Some posters felt I should have replaced the granite countertops with quartz, replace or paint the cabinets, or do both. While we had discussed replacing the cabinets months ago, in the end it made no sense to me. As for the countertops, while quartz is the trendy product right now, granite is still seen as a premium product, at least around here. If I did change it, what color should we choose? Paint the cabinets? Same problem, but worse. They're frameless, and there's a 5/8" wide perimeter face behind the doors that's the same color as the doors. The interiors are white. There are rounded corner end panels on the lineups that have a complex reveal. Both of these situations would increase painting labor costs, and the chance I would find a competent contractor to do it right the first time for a reasonable amount was miniscule.

In addition, if I don't want to do it myself because I'm busy, I would have to hire an electrician and plumber to remove and reinstall receptacles, ovens, and the cooktop. The refrigerator would have to be moved to another area. All the contents of those cabinets, the door pulls and hinges would have to be removed, and we would have to store it in a manner where I could access the food and dishes for those three months.

With every trade in the homebuilding industry reporting a severe shortage of qualified employees and the ongoing serious supply chain problems, how long would it take to replace the cabinets and countertops even if I could hire a competent contractor today? At least three months. That's an additional twelve weeks of interest rate hikes, price increases, and falling homes sales.

When we decided to sell our house eighteen months ago, the focus was in a different area. It needed repairs. It made much more sense to present a home for sale that has functional upgrades of the structure and systems than spending money for cosmetic changes. I think many people selling their home overlook this fact, and because they aren't knowledgeable about the process, it creates additional required costs they had not budgeted for.

When a house is sold, the lender requires an inspection of the dwelling and that any deficiencies discovered must be repaired. The average homeowner has no idea of the true condition of the home, and the inspection can reveal problems that are costly to make right.

One of the main issues affecting homes in my area is the underslab waste plumbing and foundation movement. Cast iron pipes installed in the mid 70s have aged out. The seasonal wet and dry cycles and movement of the stiff clay soil has rusted the piping and in some cases pulled apart joints. I knew mine needed to be replaced. Again, because of the clay soil, foundation movement caused damage over time to the foundation, exterior brick veneer and interior drywall. It was eye watering expensive to properly repair these issues.

There are three houses in my neighborhood that were recently put under contract. All three had been "upgraded" (what an overused word) with new flooring, cabinets, etc., and the asking prices were all above comps in the area. But all three now have huge piles of dirt in the front yards, because plumbers are tunneling under the slab to replace rusted out cast iron piping discovered during the inspection. This costs between $25,000 and $40,000, depending on the size and complexity of the job. None of the owners had a clue this was going to happen.

We also spent some more on landscaping and other stuff. But our realtor told me the people that made offers on the house were more interested in those recent repairs and things that had been done in the previous six years, like the 40 year GAF shingle roof and the replacement of all exterior soffits, facia, siding, and trim with Hardie products. The HVAC systems are SEER 14, and ten years old. You might have seen photos I've posted of the attic ductwork. It's all hard galvanized, with 2" FSK foil insulation wrapThe R-49 attic insulation, double pane windows, and other energy saving improvements done since we bought the house were also important to these people.

Some people in our area selling their homes don't find out these problems exist until the buyer's inspector looks at the house. I know of instances where money was spent on things like new wood flooring, painting kitchen cabinets and wainscoting or sectioned paneling in large rooms, and other things I call HGTV improvements, only to discover the house needs major repairs like replacement of the underslab waste plumbing or others like replacement of HVAC systems. If an inspector flags something, the prospective lender requires it to be repaired or walks away.

In our case, we concentrated on making our house as good as it could be in terms of systems and large ticket stuff. Countertops and cabinets were pretty far down the list. I don't think it makes sense to make those changes, absorb the full front end cost of doing so in a market with high prices, inflation, and a shortage of qualified contractors, and expecting to come out ahead. If someone likes the house and the real value in other more important things it has, let them make improvements after the sale in their styles and desires.

Paying full price for what are essentially cosmetic items on a house in expectation of recouping the cost at the sale in this increasingly volatile and uncertain market is becoming a risky proposition. We are happy with our decisions and the results.

Oh, and here's a link to the page Zillow swiped from my realtor. I thought @Outdrive1 and @rivermobster would like to check out my purple front door and the glass block.

3108 Landershire Ln, Plano, TX 75023 | Zillow

3108 Landershire Ln, Plano TX, is a Single Family home that contains 2322 sq ft and was built in 1978.It contains 4 bedrooms and 2 bathrooms. The Zestimate for this Single Family is $585,500, which has decreased by $7,727 in the last 30 days.The Rent Zestimate for this Single Family is...

www.zillow.com

When we bought this 1978 build house in 1999, it had big wood beams on the vaulted ceiling, a 12" furrdown that spanned the entire kitchen and had 2' X 4' acrylic lay in lenses covering fluorescent fixtures, dark stained raised panel cabinet doors with orange paint on the trim, orange mini blinds, a separate walled dining room, a huge ugly fireplace in the corner of the living room, and velour wallpaper in the bathrooms. I even found a brown Naugahyde waterbed frame in the attic when we moved in.

With the help of laborers from the city day labor facility, I gutted the entire house and rebuilt it in stages. I did the design with the help of my wife, and I also did the structural calculations for the double 2 X 12 beams and steel column that replaced the dining room walls. The large decorative column you see is 16" sonotube that covers a 3" pipe column on a pier. I stapled stainless steel screen material to it and floated it out to Level 5.

I did all of the plumbing, electrical, data wiring, drywall and finishing of what you see. It took two years. I'm not going to apologize for the glass block and other stuff that's dated now. That work was.done 20 years ago.

If you don't get contemporary decorating, you'll think it looks stupid. We like it, and it was done with a sense of humor.

By the way, the walls in the hallway and bedrooms are gray. They were painted that color in 2000-2001 as I finished those rooms. When we did the drywall work last year, they were repainted in the same color. I was 20 years ahead of that trend.



Here's a photo I took tonight after the sun went down. The holes for the can light were lined up with my laser transit. It's all about the overkill.



View attachment 1140876

Loll. Now that’s a purple door.

 

[Activated]

Reno No. 1 among cities with highest rate of home price reductions

More Reno sellers are reducing the listing price of their houses compared to the rest of the nation. But the median sales price remains high at $635K.

www.rgj.com

Here are the top 10 markets that saw the largest rate of price reductions for home listings as well as their median list price, according to Realtor.com.

1. Reno, Nevada: 32.6%, $677,500
2. Austin, Texas: 32.4%, $620,000
3. Phoenix, Arizona: 29.5%, $548,500
4. Anchorage, Alaska: 28.5%, $436,000
5. Boise, Idaho: 27.4%, $587,900
6. Ogden, Utah: 27.4%, $580,100
7. Sacramento, California: 25.2%, $642,500
8. Colorado Springs, Colorado: 25.1%, $550,000
9. Evansville, Indiana: 24.7%, $246,000
10. Medford, Oregon: 23.2%, $562,500

 

[HotRod82]

Seems like every day there is another article about how screwed Boise is .... be interesting to see where they are a year from now.

 

[MSum661]

Reno No. 1 among cities with highest rate of home price reductions

More Reno sellers are reducing the listing price of their houses compared to the rest of the nation. But the median sales price remains high at $635K.

www.rgj.com

Here are the top 10 markets that saw the largest rate of price reductions for home listings as well as their median list price, according to Realtor.com.

1. Reno, Nevada: 32.6%, $677,500
2. Austin, Texas: 32.4%, $620,000
3. Phoenix, Arizona: 29.5%, $548,500
4. Anchorage, Alaska: 28.5%, $436,000
5. Boise, Idaho: 27.4%, $587,900
6. Ogden, Utah: 27.4%, $580,100
7. Sacramento, California: 25.2%, $642,500
8. Colorado Springs, Colorado: 25.1%, $550,000
9. Evansville, Indiana: 24.7%, $246,000
10. Medford, Oregon: 23.2%, $562,500

Taking out a lot of 20% down payment deposits from recent buyers.

 

[Sportin' Wood]

Taking out a lot of 20% down payment deposits from recent buyers.

The west historically has been the tip of the whip. Glad we sold last year in Reno. See Ya, Reno!

 

[hallett21]

22164 San Miguel St, Woodland Hills, CA 91364 - 3 beds/2 baths

(TheMLS) Sold: 3 beds, 2 baths, 1479 sq. ft. house located at 22164 San Miguel St, Woodland Hills, CA 91364 sold for $1,250,000 on Jul 27, 2022. MLS# 22-168209. This stunningly renovated South-of-the-Boulev...

www.redfin.com

 

[angiebaby]

Taking out a lot of 20% down payment deposits from recent buyers.

What does this mean? You are taking out deposits from recent buyers? Someone bought and closed on a house, and you are taking their deposits for a down payment? I'm missing something.

 

[hallett21]

21215 Dumetz Rd, Woodland Hills, CA 91364 - 3 beds/1 bath

(CSMAR) Sold: 3 beds, 1 bath, 1012 sq. ft. house located at 21215 Dumetz Rd, Woodland Hills, CA 91364 sold for $900,000 on Jul 26, 2022. MLS# 222002405. Opportunity knocks!! First time on the market since ...

www.redfin.com

 

[hallett21]

21215 Dumetz Rd, Woodland Hills, CA 91364 - 3 beds/1 bath

(CSMAR) Sold: 3 beds, 1 bath, 1012 sq. ft. house located at 21215 Dumetz Rd, Woodland Hills, CA 91364 sold for $900,000 on Jul 26, 2022. MLS# 222002405. Opportunity knocks!! First time on the market since ...

www.redfin.com

 

[bonesfab]

What does this mean? You are taking out deposits from recent buyers? Someone bought and closed on a house, and you are taking their deposits for a down payment? I'm missing something.

I believe he is saying the 20% down was equity in the house. With a 28% drop, you basically lost all the equity you had in the house and then some. This is when people will walk away. But if they have a low fixed rate, they would be smart to stay as rent isn't going to be any cheaper.

 

[boatnam2]

I watch Boise real estate, yet to see a 28% drop.

 

[Gonefishin5555]

I believe he is saying the 20% down was equity in the house. With a 28% drop, you basically lost all the equity you had in the house and then some. This is when people will walk away. But if they have a low fixed rate, they would be smart to stay as rent isn't going to be any cheaper.

You guys are reading the meaning wrong. It only means that 28% of the listings had a price drop. As in for every 100 listings, 28 of them dropped their initial asking price. It doesnt say how much the average % drop was. A $1 drop counts as a drop just as much as $10,000 drop .

 

[LargeOrangeFont]

Seems like every day there is another article about how screwed Boise is .... be interesting to see where they are a year from now.

That’s true, but I rarely see Boise at the top of any of these lists. Always in the mix though.

 

[LargeOrangeFont]

You guys are reading the meaning wrong. It only means that 28% of the listings had a price drop. As in for every 100 listings, 28 of them dropped their initial asking price. It doesnt say how much the average % drop was. A $1 drop counts as a drop just as much as $10,000 drop .

This.

 

[boatnam2]

You guys are reading the meaning wrong. It only means that 28% of the listings had a price drop. As in for every 100 listings, 28 of them dropped their initial asking price. It doesnt say how much the average % drop was. A $1 drop counts as a drop just as much as $10,000 drop .

Makes a little more sense, thanks.

 

[angiebaby]

I believe he is saying the 20% down was equity in the house. With a 28% drop, you basically lost all the equity you had in the house and then some. This is when people will walk away. But if they have a low fixed rate, they would be smart to stay as rent isn't going to be any cheaper.

Gotcha. The price drop is "taking out a lot of 20% down payment deposits from recent buyers." That makes sense. Thanks! I'm a little slow sometimes

 

[Singleton]

Days on market in my opinion is a bigger indicator of an issue.
Couple houses in my hood have been on the market for over 100 days and just had price reductions.
The $2M and over houses have slowed even worse in my neighborhood

 

[hallett21]

@PaPaG please tell me you’re running the Brummett vector. Can we start a new thread with pics?!

 

[LargeOrangeFont]

Days on market in my opinion is a bigger indicator of an issue.
Couple houses in my hood have been on the market for over 100 days and just had price reductions.
The $2M and over houses have slowed even worse in my neighborhood

$2M+ in South OC is still pretty strong.

Inventory is still higher than before, but still historically low.

 

[Havasu blue label]

It’s California not Utah

 

[Havasu blue label]

We don’t lose equity in California we just pay more taxes

 

[LargeOrangeFont]

It’s California not Utah

Keep working, save yore money

 

[77charger]

Been looking at realtor.com at prices in my neighborhood quite a few price reductions going on.

One home 2 blocks down sold in mid may for 440k relisted june 20 with some basic touch ups at 505k(imo about 10k high for that home anyways) just looked other night its at 429k seen a couple others dropping 20k as well.This is in AZ. Looks like a flipper was late to the party

 

[2FORCEFULL]

It didn't take long for this comment to be proven as fucking stupid. For starters, take it at face value. I'm going to take a $100,000-$150,000 hit on a $500,000 asking price because the cabinets are the wrong color? They could be replaced three times for that amount. That's not a step up bar, either. See those stools? Two people live in the house. It's where we eat most of our meals. Is it practical for someone with three kids? I don't care. I built the house the way my wife and I wanted it, and we have lived there for 25 years.

But it turns out that my "honey oak" (they're maple) cabinets, the "gold" pulls (they're stainless steel) and being stuck in the 70s didn't matter. Over fifty people showed up for the Saturday-Sunday open house, and by Monday afternoon we had seven offers. Three were all cash. All were more than the listing price, and we accepted the one that was $65,000 over and waived appraisal. Was it smart to pull the trigger that quickly? Absolutely.

Interest on 30 year loans is near 6%. The Federal Reserve is expected to raise interest rates 75 basis points Wednesday. A survey of market analysts showed just over 50% of them expect another 75 point hike in September.

The National Association of Home Builders/Wells Fargo Housing Index fell dramitically in June.

The National Association of Home Builders/Wells Fargo Housing Market Index, a survey designed to gauge market conditions, found builder sentiment dropped 12 points to 55. That marked the largest single-month drop in the survey's 37-year history with the exception of April 2020, when the reading plummeted 42 points to 30 after the start of the Covid-19 pandemic.

Sentiment stood at 80 in July of last year after hitting a record high of 90 in November 2020, when the pandemic sparked a rash of homebuying among people looking for more space in less urban areas. Now, concerns about inflation and recession are among the factors taking a toll on builder sentiment.

In a statement explaining the battered sentiment, NAHB Chair Jerry Konter said production bottlenecks, rising home building costs and high inflation are causing many builders to halt construction, as the cost of land, construction and financing exceed a home's market value in some cases.

The stock prices of the nation's largest single family home builders has collapsed. Lennar Homes stock has fallen 27.3% in 2022. KB Homes is down 26.9%. Meritage Homes leads in the race to the bottom at 28.2%. These three builders construct the majority of single family homes in North Texas.

Single family listings in DFW declined over 15% from May to June. Building permit applications for new homes fell over 20% in the same period. Inflation increased 9.1% year over year in June. I could post more of the same, but you get the idea. Every day housing becomes less affordable, and the number of people willing to stomach already high prices with interest rate increases piled on top of that is getting smaller. It was time to sell.

Some posters felt I should have replaced the granite countertops with quartz, replace or paint the cabinets, or do both. While we had discussed replacing the cabinets months ago, in the end it made no sense to me. As for the countertops, while quartz is the trendy product right now, granite is still seen as a premium product, at least around here. If I did change it, what color should we choose? Paint the cabinets? Same problem, but worse. They're frameless, and there's a 5/8" wide perimeter face behind the doors that's the same color as the doors. The interiors are white. There are rounded corner end panels on the lineups that have a complex reveal. Both of these situations would increase painting labor costs, and the chance I would find a competent contractor to do it right the first time for a reasonable amount was miniscule.

In addition, if I don't want to do it myself because I'm busy, I would have to hire an electrician and plumber to remove and reinstall receptacles, ovens, and the cooktop. The refrigerator would have to be moved to another area. All the contents of those cabinets, the door pulls and hinges would have to be removed, and we would have to store it in a manner where I could access the food and dishes for those three months.

With every trade in the homebuilding industry reporting a severe shortage of qualified employees and the ongoing serious supply chain problems, how long would it take to replace the cabinets and countertops even if I could hire a competent contractor today? At least three months. That's an additional twelve weeks of interest rate hikes, price increases, and falling homes sales.

When we decided to sell our house eighteen months ago, the focus was in a different area. It needed repairs. It made much more sense to present a home for sale that has functional upgrades of the structure and systems than spending money for cosmetic changes. I think many people selling their home overlook this fact, and because they aren't knowledgeable about the process, it creates additional required costs they had not budgeted for.

When a house is sold, the lender requires an inspection of the dwelling and that any deficiencies discovered must be repaired. The average homeowner has no idea of the true condition of the home, and the inspection can reveal problems that are costly to make right.

One of the main issues affecting homes in my area is the underslab waste plumbing and foundation movement. Cast iron pipes installed in the mid 70s have aged out. The seasonal wet and dry cycles and movement of the stiff clay soil has rusted the piping and in some cases pulled apart joints. I knew mine needed to be replaced. Again, because of the clay soil, foundation movement caused damage over time to the foundation, exterior brick veneer and interior drywall. It was eye watering expensive to properly repair these issues.

There are three houses in my neighborhood that were recently put under contract. All three had been "upgraded" (what an overused word) with new flooring, cabinets, etc., and the asking prices were all above comps in the area. But all three now have huge piles of dirt in the front yards, because plumbers are tunneling under the slab to replace rusted out cast iron piping discovered during the inspection. This costs between $25,000 and $40,000, depending on the size and complexity of the job. None of the owners had a clue this was going to happen.

We also spent some more on landscaping and other stuff. But our realtor told me the people that made offers on the house were more interested in those recent repairs and things that had been done in the previous six years, like the 40 year GAF shingle roof and the replacement of all exterior soffits, facia, siding, and trim with Hardie products. The HVAC systems are SEER 14, and ten years old. You might have seen photos I've posted of the attic ductwork. It's all hard galvanized, with 2" FSK foil insulation wrapThe R-49 attic insulation, double pane windows, and other energy saving improvements done since we bought the house were also important to these people.

Some people in our area selling their homes don't find out these problems exist until the buyer's inspector looks at the house. I know of instances where money was spent on things like new wood flooring, painting kitchen cabinets and wainscoting or sectioned paneling in large rooms, and other things I call HGTV improvements, only to discover the house needs major repairs like replacement of the underslab waste plumbing or others like replacement of HVAC systems. If an inspector flags something, the prospective lender requires it to be repaired or walks away.

In our case, we concentrated on making our house as good as it could be in terms of systems and large ticket stuff. Countertops and cabinets were pretty far down the list. I don't think it makes sense to make those changes, absorb the full front end cost of doing so in a market with high prices, inflation, and a shortage of qualified contractors, and expecting to come out ahead. If someone likes the house and the real value in other more important things it has, let them make improvements after the sale in their styles and desires.

Paying full price for what are essentially cosmetic items on a house in expectation of recouping the cost at the sale in this increasingly volatile and uncertain market is becoming a risky proposition. We are happy with our decisions and the results.

Oh, and here's a link to the page Zillow swiped from my realtor. I thought @Outdrive1 and @rivermobster would like to check out my purple front door and the glass block.

3108 Landershire Ln, Plano, TX 75023 | Zillow

3108 Landershire Ln, Plano TX, is a Single Family home that contains 2322 sq ft and was built in 1978.It contains 4 bedrooms and 2 bathrooms. The Zestimate for this Single Family is $585,500, which has decreased by $7,727 in the last 30 days.The Rent Zestimate for this Single Family is...

www.zillow.com

When we bought this 1978 build house in 1999, it had big wood beams on the vaulted ceiling, a 12" furrdown that spanned the entire kitchen and had 2' X 4' acrylic lay in lenses covering fluorescent fixtures, dark stained raised panel cabinet doors with orange paint on the trim, orange mini blinds, a separate walled dining room, a huge ugly fireplace in the corner of the living room, and velour wallpaper in the bathrooms. I even found a brown Naugahyde waterbed frame in the attic when we moved in.

With the help of laborers from the city day labor facility, I gutted the entire house and rebuilt it in stages. I did the design with the help of my wife, and I also did the structural calculations for the double 2 X 12 beams and steel column that replaced the dining room walls. The large decorative column you see is 16" sonotube that covers a 3" pipe column on a pier. I stapled stainless steel screen material to it and floated it out to Level 5.

I did all of the plumbing, electrical, data wiring, drywall and finishing of what you see. It took two years. I'm not going to apologize for the glass block and other stuff that's dated now. That work was.done 20 years ago.

If you don't get contemporary decorating, you'll think it looks stupid. We like it, and it was done with a sense of humor.

By the way, the walls in the hallway and bedrooms are gray. They were painted that color in 2000-2001 as I finished those rooms. When we did the drywall work last year, they were repainted in the same color. I was 20 years ahead of that trend.



Here's a photo I took tonight after the sun went down. The holes for the can light were lined up with my laser transit. It's all about the overkill.



View attachment 1140876

my reply was for a nice newer home in a nice area.... I'd say you did well selling a 50yr old house in texas for 500k....


as for fucking stupid..... that amount of sq ft with a pool in a desirable area, newer would be more of a 1m plus home.... you didn't put in you post it was a 50 yr old home in texas with all the comps under 500k... people that buy 500k homes with a pool in texas are happy they even get cabinet's

 

[2FORCEFULL]

look, leave it to beavers house in plano tx,.... only $168 sq ft.... I love the cabs and wall paper.... that area might be 20yrs behind the trend setting west coast

2501 Dunwick Dr, Plano, TX 75023 | Zillow

2501 Dunwick Dr, Plano TX, is a Single Family home that contains 2914 sq ft and was built in 1983.It contains 4 bedrooms and 3 bathrooms. The Zestimate for this Single Family is $616,000, which has increased by $15,920 in the last 30 days.The Rent Zestimate for this Single Family is $3,217/mo...

www.zillow.com

 

[monkeyswrench]

Wow, someone woke up on the wrong side of the bed.
Must be all the money stuffed in the mattress...in their "trendsetting west coast" home...in a land-locked state

 

[schweeng]

Got a couple of Lenar guys who eat at my place... huge new development (like 12,000 new homes being built) behind Magic Mountain. He says the buying has ALMOST stopped over there.....
I own a restaurant... you can see a lot with your customers.....like when a group of 6 realtors sit and talk for 2 hrs. during lunch.... guess they have nothing to do??? Seems like way more inventory is available in Santa Clarita but prices still have the Covid boost in them...

 

[SPECTRABRENT]

Got a couple of Lenar guys who eat at my place... huge new development (like 12,000 new homes being built) behind Magic Mountain. He says the buying has ALMOST stopped over there.....
I own a restaurant... you can see a lot with your customers.....like when a group of 6 realtors sit and talk for 2 hrs. during lunch.... guess they have nothing to do??? Seems like way more inventory is available in Santa Clarita but prices still have the Covid boost in them...

Name of your restaurant?

 

[bonesfab]

Got a couple of Lenar guys who eat at my place... huge new development (like 12,000 new homes being built) behind Magic Mountain. He says the buying has ALMOST stopped over there.....
I own a restaurant... you can see a lot with your customers.....like when a group of 6 realtors sit and talk for 2 hrs. during lunch.... guess they have nothing to do??? Seems like way more inventory is available in Santa Clarita but prices still have the Covid boost in them...

They figure out where the water is coming for all those new houses?

 

[Englewood]

@bldrinker what happened? I thought prime was tied to mortgage rates?

Mortgage rates fall sharply after negative GDP report and Fed's latest hike

The average rate on the popular 30-year fixed mortgage fell to 5.22% on Thursday from 5.54% on Wednesday, according to Mortgage News Daily.

www.cnbc.com

 

[RVR SWPR]

Got a couple of Lenar guys who eat at my place... huge new development (like 12,000 new homes being built) behind Magic Mountain. He says the buying has ALMOST stopped over there.....
I own a restaurant... you can see a lot with your customers.....like when a group of 6 realtors sit and talk for 2 hrs. during lunch.... guess they have nothing to do??? Seems like way more inventory is available in Santa Clarita but prices still have the Covid boost in them...

At least 20 or more years working thru approvals for that project. Yes,water major issue.
Interchange @ 126 Castaic was years and millions to completion. All of this phucked up thru incompetent politicians being tolerated making decisions they are not qualified to be involved.Politicians are qualified to to cut ribbons and raise sheep.

 

[Havasu blue label]

Pass thru there weekly Fillmore has plenty of water

 

[CLdrinker]

@bldrinker what happened? I thought prime was tied to mortgage rates?

Mortgage rates fall sharply after negative GDP report and Fed's latest hike

The average rate on the popular 30-year fixed mortgage fell to 5.22% on Thursday from 5.54% on Wednesday, according to Mortgage News Daily.

www.cnbc.com

.40 rate drop yippie we are back on track!

 

[pixrthis]

Name of your restaurant?

Homepage

Enjoy Fresh Seafood That's Delivered Daily, Plus A Menu With More Than 12 Hawaiian-Style Poke Bowls Made From Scratch In Valencia, Santa Clarita, California!

www.fishtailgrill.com

Great Food, understandably not cheap but great food.

 

[c_land]

@bldrinker what happened? I thought prime was tied to mortgage rates?

Mortgage rates fall sharply after negative GDP report and Fed's latest hike

The average rate on the popular 30-year fixed mortgage fell to 5.22% on Thursday from 5.54% on Wednesday, according to Mortgage News Daily.

www.cnbc.com

The Fed is not happy with the bond market after last week.... I wonder how many of these clowns are marched out to talk the market back down next week.

In fact, bond market pricing suggests that investors think officials may even begin to cut interest rates next year.

“I don’t know what the bond market is looking at in reaching that conclusion,” Mr. Kashkari said, adding that the bar would be “very, very high” to lower rates.

https://twitter.com/i/web/status/1553118893249626112

 

[pixrthis]

They figure out where the water is coming for all those new houses?

I asked that very question at a development meeting just before COVID and was told we have no water problems. No use even asking questions anymore because people just give you the answers they think you want to hear.

 

[SPECTRABRENT]

Homepage

Enjoy Fresh Seafood That's Delivered Daily, Plus A Menu With More Than 12 Hawaiian-Style Poke Bowls Made From Scratch In Valencia, Santa Clarita, California!

www.fishtailgrill.com

Great Food, understandably not cheap but great food.

Its by Office Depot?

 

[hallett21]

.40 rate drop yippie we are back on track!

Historically we’re still getting money for cheap. Where do you think rates/home costs “should” be?

 

[CLdrinker]

Historically we’re still getting money for cheap. Where do you think rates/home costs “should” be?

Like I said everything is fine.

 

[pixrthis]

Its by Office Depot?

Yes, next to Chipotle

 

[Runs2rch]

Historically we’re still getting money for cheap. Where do you think rates/home costs “should” be?

Under 3% duhhhhh

 

[MSum661]

The Fed is not happy with the bond market after last week.... I wonder how many of these clowns are marched out to talk the market back down next week.

https://twitter.com/i/web/status/1553118893249626112

I believe we're at the very back end of this recent smoke and mirriors S&P bear market rally which has temporarily affected the bond market and I also believe there is a lot of institutional eyes on the VIX right now at this very minute and they smell smoke. Retail will be the victims.
Each and every time the VIX has tapped the lower 1 year moving average trend line it has bounced back off it a "meaningful" way. A major re-balance in equities is coming which will affect the bond markets.... Wait for it. Also, the trading months of August and Sept. have nearly a perfect track record of hammering down equities. I would not be surprised if we re-visit a fresh 52 week S&P low right around the corner soon given the series of Fed rate hikes and a financially stressed consumer.

VIX showing it has bottomed, recent S&P bear market rally shows it has topped at the upper band. Something has to give.

 

[RVR SWPR]

Pass thru there weekly Fillmore has plenty of water

Most of it on it’s way to the Ocean.

 

[SPECTRABRENT]

Yes, next to Chipotle

Ok

 

[PaPaG]

@PaPaG please tell me you’re running the Brummett vector. Can we start a new thread with pics?!

My TT Vector was one of my favorite boats, I wish I never sold it. I am Vector fan for life that is for sure. I now have a GMT with a whacker which is a totally new type of ride that is for sure.

 

[Looking Glass]

Like I said everything is fine.

Have another BL!!

 

[schweeng]

Homepage

Enjoy Fresh Seafood That's Delivered Daily, Plus A Menu With More Than 12 Hawaiian-Style Poke Bowls Made From Scratch In Valencia, Santa Clarita, California!

www.fishtailgrill.com

Great Food, understandably not cheap but great food.

Thanks!!!!