Glad we bought land in Williamson Valley a few years ago. Cant wait to build our retirement ranch in a few years if the building industry comes to grip.
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What area? My SIL and BIL are realtors in Coeur d'alene area and say they are still very busy. Haven't asked the specific question though of how many show up at an open house, or if she's even had one. But driving around Havasu seems to have alot more inventory than in recent future.
Probably Acton or Agua Dulce, could of been Santa Clarita or Antelope Valley.
Calpers?
It’s coming
When will it arrive? I'm holding out 'till the peak of the market!
Pers, Sters and whatever LEO and Fire have. That is truly what supports the RE market on that side of town. They surely aren't the only buyers now, but 5-10 years ago they made up the lion's share.
Flat…..Lots of new builds going up right along Williamson Valley adjacent to Granite mountain, south of Mint Creek, big square footage equestrian stuff. With fuel prices & the cost of materials these builds have to be setting records.
IMO, you are spot on about people being over their heads & not knowing it. So many squeak by with little or no savings account, live pay check to pay check, have credit cards charged up, car payments, boat payments, etc.
First it was the Barney and Bill show with everyone deserves to own a home and most recently with Uncle Joe and his trillion dollar giveaway, we are all about outta money patience or both.
There was no wealth before April 2020
You’re probably the best person to answer that.
Joke!!
Hey good catch!! Yes we’re on our way. Lots of new inventory. Lots of price reductions. Still think many are over priced.
As just another dumb ex finance/hedge fund guy who also rode the dot com wave with some pure play startups and has been doing commercial real estate brokerage and development since 2007. My education is finance and post grad CFA.
The best guess to weather the current storm and make some money seems to be income producing raw land i.e. farmland, rv park etc. This used to be the basis behind storage units and car washes, but they have become too capital intensive.
Time will tell, but I believe in it enough to have moved from Denver to Utah and invested over $1m plus time and energy into taking the bet.
If I did want to subdivide the rv sites now. We have standing offers that would put the total sale price just over $10.5m.
However, quick money is not the plan here. Its a lifestyle as well. Knowing we probably made the right choice and are sitting on a large gain does help me sleep at night though
You need to shop around...thats fucking insane.
It may depend on what is in the 3 cars...doing maintenance on my old one ton wasn't cheap. With it being a diesel, the mileage and abuse equated to at least one oil change and filters every month, and tranny service and filters every other. At the time, maybe 2010, it wasn't cheap. I also couldn't justify a new truck knowing it was going to get flat destroyed.
Yes, I am literally the "median"...have a singlewide on one side, and 3000sqft ranch home on the other...a lot like Norco in the late 90'sYou’re probably the best person to answer that.
The age, build quality & neighborhoods of all these 800k + houses up there in the pines are laughable. Sure some cool stuff but you have to drive through what looks like homes in 29 palms before you get to them.
I visited Payson last year. Man, what a cool place. Small town feel.
Payson's really a nice little area. Not too far from Phoenix for your "city fix" either. The only bad thing, and was really apparent with covid, it's surrounding forest can get overrun with "flatlanders" when it gets hot in the valley. Spring and fall though, absolutely beautiful times to be out and about there.
Yeah, all three still under full coverage and have an 18 year old daughter. Neither helps my rates on insurance. Can’t afford to replace so full coverage it is. Seems like one of the three vehicles will need new tires each year. Plus the normal oil changes, registration and other routine cost of ownership. Adds up quick even without a loan payment.
I don't see it either. We live in a townhome community in HB and most local realtors have waiting lists of people trying to buy in here.
Same thing for us. At first we were contingent on selling our condo. We accepted an off and found a house that accepted ours. The lady buying our condo couldn’t get financed for what she thought had to back out. Sold the condo and did a 3 month lease on an apartment. 3 lease renewals and 1 year later, got a short sale. It was our 7th offer on a place after we got beat out by full cash offers even though they were less. The house we got actually went to another bidder that offered $20K less but only had $18K more to put down. We had a harder time because we wanted a 1 story house.
I follow Michael Burry anywhere he sprinkles some info or thoughts online. He's predicting a a big sell off.
It wasn’t that long ago that homes took 30-60 days to sell lol.
Curious. Are these mostly cash buyers? Can't imagine anyone buying in at approx. 6% rates nowadays.
