Havasu blue label
Well-Known Member
- Joined
- Nov 30, 2018
- Messages
- 5,047
- Reaction score
- 2,928
Most realtors buy there listing it’s going to hit realty soon when you have to start working and taking early retirement packages and pay cuts
I think that going forward people that want to buy entry level homes will buy small condos/apartments in CA or buy houses on other states. Anywhere in CA worth living is only building high end large homes or ultra dense condos. CA is squeezing out the middle class home buyer.
This is something I've been watching and it just bothers the hell out of me.
Wife and I are in an interesting spot in the housing market.
We are being told we can clean up on our home in San Diego, which if we sold in SD Id try to get closer to Irvine where most of my work is. But even taking all of the proceeds from the sale of the home and putting it down somewhere close to Irvine, our mortgage goes up by quite a bit.
Being a commission only sales guy, I try to keep overhead low so we can do all the extracurricular activities we enjoy and be able to put away, so increasing my mortgage 50% or more doesn't make a whole lot of sense. Especially seeing how my mortagate now is lower than renting the home we live in (4 bed 3 bath house).
We are kind of stuck. It is an interesting place to be in for two 36 year olds.
After looking at prices in southern Utah... socal area looks like a bargain (inland)
Do you think alot of parents are paying cash so the kids can get in the door and then refi/changing title into the kids name? I just can't believe people with 700k cash are buying 700K houses. Seems they need the help to get an offer accepted.
This was the situation when I sold my house in September. Parents gave the kids 620k and the kids would find financing later.
I think it's happening quite a bit out this way. Parents are well off and want to help there kids out so they are throwing the cash offers to get noticed/accepted or the kids basically have zero shot.
I have been getting full color 5x10" postcards from families asking if I want to sell my house. The postcard says they are prequalified and have a good down and that they have missed out on the last 20 houses they have attempted to buy.
Crazy.....Selling right now is easy but you could have all the $$$ in the world and you might not be able to buy.
There are currently 0 single story houses for sale in my area 92882.
You should list now to ride that spring wave...... just mandate an extended escrow.
listing in a couple weeks with a close of 6/5+
Not surprised. My 2 bed 2 bath, 1270 sq ft rental condo in Irvine is $730k. HOA dues are $180/mo. This place is insane, but the even more insane thing is houses don't last long. Even at these prices, they are snapped up almost immediately.It concerns me but i'm probably looking at it differently than most on here. In short, home ownership was never supposed to be like this. The American dream in Socal for a young couple starting out is either not possible or they will get roped into the frenzy and buy a tiny house that is wildely overpriced and half of their income or more will go to it. Its sad really. I wonder how many people move to southern california thinking it will be one way and then after a year are sorely dissapointed.
My sister is a real estate agent and she has a listing in Irvine right now, 950 sqft condo, association is $325 mo and there is a $109 special assesment due each month at the moment, listed for 525k. I have a hard time wrapping my head around this. Like I said, its sad.
will your new place in UT be ready?
Thats his moms real estate office...And you are correct...The guy is a Douchebag....!There’s a realtor in Brea named Darryl Jones. He plays stupid bullshit games like this. He’ll price the house way under ask, then it will obviously sell well above.
Just a method so he can tell potential clients he got “X” amount above ask.
It’s just unnecessary games. IMO just be honest with what you want.
Sent from my iPhone using Tapatalk
Maybe it was mentioned here already but if you sell you still need to live somewhere and it aint going to be cheap to replace!
I have been trying to figure out how to sell my place in Murrieta and move closer to the office? Starting to consider a large 5th wheel in a trailer park for a few years till the market "corrects".
we thought about this as well. selling getting a park model for a bit and trying to find a place down by the beach to hang and have an adventure for a bit. spot prices were 1500 bucks and id need storage to store my stuff as well. Doesn't pencil out on the coast. maybe inland....
Our realtor listed a house down the street from us for $1.388 and it went into escrow three days later for $1.5+. Multiple cash buyers.
The buyers that missed this house asked her if she had any other leads for houses in the neighborhood because they want their kids to go to Calabasas schools. She called me on Thursday to ask if we would be interested in showing our house. Ours is a little smaller but we have a 240 degree view of the whole valley. I told her there's a price for everything so they are coming on Wednesday to take a look. My wife and I talked about it and if they offer us the magic number, we would sell. I love my house but like I said, there's a price for everything. They also said they would rent it back to use for a year or two if we want since their kids are in good private schools for the time being and they are looking two years out. We'll see what happens.
How high can this possibly go?I think that deal only works out financially for people in very specific situations. You start talking about waiting "years" in limbo for a "correction" you start burning through a lot of money, and it will likely end up costing you in the end. We have not even peaked out on the upswing of pricing yet. The fundamentals of the market are much different than last time.
Better off sitting in the house you currently own that is cheaper to own than rent and buy the dip. A house that costs $200K more today will still cost $200K more in a housing dip.
How high can this possibly go?
I was floored at the price the realtor said we can get for our pad now. Don’t think it can go much higher. Wild times.
This is because developers realized that they can fit 15 families in the spot of one house. Charge the same amount as a house x 15 and then slap a 450 dollar hoa fee on you a month.I think that going forward people that want to buy entry level homes will buy small condos/apartments in CA or buy houses on other states. Anywhere in CA worth living is only building high end large homes or ultra dense condos. CA is squeezing out the middle class home buyer.
This is because developers realized that they can fit 15 families in the spot of one house. Charge the same amount as a house x 15 and then slap a 450 dollar hoa fee on you a month.
Pretty much everything said here is true. The market is completely nuts. We placed two offers on a house two weekends ago and lost out above ask with a 21 day close. We also knew the neighbors across the street who know the sellers and put in a good word for us.
This past weekend we offered 25k above ask the first day on the market on a place that was listed for 725k. Our realtor thought it was worth 700k and it sold within a day and a half for 775k. 3 bed 2.5 bath in San Juan built in 1978 that had some lipstick on the pig but needed a lot of work...
Also offered on another yesterday that had been on the market for a few days. Again decent amount above ask and the selling agent told ours that they accepted an offer that was WAY higher than anything else received. Whoever submitted that offer must be WAY high in another way too...
Sent from my iPhone using Tapatalk
What is the point in an Agent making statements like "accepted an offer that was WAY higher than anything else"? Trying to make you submit a higher bid?
Why not just tell the buyer's agent that another offer was accepted?
Do you think alot of parents are paying cash so the kids can get in the door and then refi/changing title into the kids name? I just can't believe people with 700k cash are buying 700K houses. Seems they need the help to get an offer accepted.
What is the point in an Agent making statements like "accepted an offer that was WAY higher than anything else"? Trying to make you submit a higher bid?
Why not just tell the buyer's agent that another offer was accepted?
Talking with our agent I think it may have been because the selling agent was concerned it might not go through escrow. Possibly wanting to keep some of the other offers interested. There are people who are literally making offers site unseen due to how quickly things are going right now...
Sent from my iPhone using Tapatalk
Just got word that the latest one we offered on went for 788k. Listed at 715 we offered 735 and the thing was only on the market for like three days. Absolute madness. Where the fuck are all these people coming from that can afford this shit! [emoji23]
Sent from my iPhone using Tapatalk
Yea the southern Utah deal would be a lateral move for use price wise. I would just have 3X the house and 5X the garage.
Hope she can take advantage of the current hot market, but agree, it can't go on forever............Lots of foreclosures coming soon. Wife is almost finished getting her realtor license and has a broker waiting for her.
Too bad, you are missing out.I do, but its my home... Because I refuse to own a Rental in CA...
Ca Gov - has proven, they dont give a shit about the property owners... therefore I would not risk a rental property.
Stock Market is a far better play... For now anway
Lots of foreclosures coming soon. Wife is almost finished getting her realtor license and has a broker waiting for her.
This is what I want to knowWhat is collapsing that will cause foreclosures?
People that got forbearance on loans they can't pay back, from covid , lose of jobs ,lots of empty houses here .What is collapsing that will cause foreclosures?
Where is here, city?People that got forbearance on loans they can't pay back, from covid , lose of jobs ,lots of empty houses here .
In the RE world its considered a douchey moveThe game I believe is to bring in more buyers, a honey trap. Low price brings in everybody. It's a strong move IMO