ArcticCrusher Posted April 10, 2017 Share Posted April 10, 2017 14 minutes ago, Mainecat said: When interest rates go up sale prices go down.....always. When you can see a slowdown in demand (and you can) wait it out. I could have written a term paper on why and why not but why bother on a sled forum? My opinion stands....WAIT it out Thanks for that nugget. Quote Link to comment Share on other sites More sharing options...
GGNHL Posted April 10, 2017 Share Posted April 10, 2017 16 minutes ago, Mainecat said: When interest rates go up sale prices go down.....always. When you can see a slowdown in demand (and you can) wait it out. I could have written a term paper on why and why not but why bother on a sled forum? My opinion stands....WAIT it out He is in rural new york though. Just like rural Maine the crash really didn't hurt home prices in already depressed areas. If he lived in a town with a big mill that employed a lot of people locally and it closed that would be the only thing that could really help out his buying power, but I don't think that is the case here. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted April 10, 2017 Share Posted April 10, 2017 11 minutes ago, Mainecat said: When interest rates go up sale prices go down.....always. When you can see a slowdown in demand (and you can) wait it out. I could have written a term paper on why and why not but why bother on a sled forum? My opinion stands....WAIT it out really because prices rose while rates overall rose from 1993 to 1997. I made enough to payoff my student loans with the sale of the place i bough in 94 and sold in 96 and made another 50 grand on the one i bought in 96 and sold end of 97. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted April 10, 2017 Share Posted April 10, 2017 4 hours ago, Angry ginger said: really because prices rose while rates overall rose from 1993 to 1997. I made enough to payoff my student loans with the sale of the place i bough in 94 and sold in 96 and made another 50 grand on the one i bought in 96 and sold end of 97. Again what the fuck do I know. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted April 10, 2017 Share Posted April 10, 2017 23 minutes ago, Mainecat said: Again what the fuck do I know. exactly glad you realized that, i won't argue the cost to print a book of tickets for the MA state police and you don't argue about the real estate market FTR my point is you used the word always which is not factually correct. I am not saying we aren't going to see another widespread collapse in RE we will certainly do so at least once more in my working lifetime maybe twice as I have already worked through 2 of them. The last 2 RE bubbles grew because of the ez financing available which is not the driver of this one which is why I am not panicking and yes I do agree that rising rates will soften appreciation and may result in pockets of decline but unless there is dramatic rate increases like the early 80's had then I don't see if being that bad and sometimes the gov learns lessons from the past and can try to keep things in control through monetary policy. 1 Quote Link to comment Share on other sites More sharing options...
SVT MXZ XRS Posted April 10, 2017 Share Posted April 10, 2017 6 hours ago, 02sled said: Depends on the location. In the Toronto and surrounding area it's simply a matter of supply and demand. The demand has outstripped the supply for probably about 20 years and there aren't any signs of it slowing down any time soon. The demand STILL exceeds by far the supply. The average price of $1.21-million for detached properties sold in the GTA this past month smashed the former peak of $1.07-million set in January and climbed 32.5 per cent from a year earlier. Would you have suggested someone simply wait out over 20 years. We are seeing the lack of supply in Toronto driving up prices outside of the area. Barrie which is an hour north has seen prices go up significantly. For Barrie the year-to-date average price for all homes sold was $511,214, up 30.1% from 2016. The prices you guys pay and for what you get up there is nuts. Just like it is in California 2 hours ago, Angry ginger said: exactly glad you realized that, i won't argue the cost to print a book of tickets for the MA state police and you don't argue about the real estate market FTR my point is you used the word always which is not factually correct. I am not saying we aren't going to see another widespread collapse in RE we will certainly do so at least once more in my working lifetime maybe twice as I have already worked through 2 of them. The last 2 RE bubbles grew because of the ez financing available which is not the driver of this one which is why I am not panicking and yes I do agree that rising rates will soften appreciation and may result in pockets of decline but unless there is dramatic rate increases like the early 80's had then I don't see if being that bad and sometimes the gov learns lessons from the past and can try to keep things in control through monetary policy. Quote Link to comment Share on other sites More sharing options...
Gold Member BOHICA Posted April 12, 2017 Gold Member Share Posted April 12, 2017 After today if markets are really where they are super hot every where I will say you have to jump fast and quick. Right now that I bought a new house and moved last month, The Wife and I spent some time getting the old house whipped into shape, Slapping a couple $100 dollars in Sherwin Williams on interior walls, Replacing bedroom carpet with $1400 dollars in home depot special on free install promotion carpet, and paid a pro cleaning company to come in and spend the day... Less then 24 hours later after listing went active we have 3 offers apparently I have yet to see as the agent just texted. I was thinking an honest list price in my area for my neighborhood would have been $160K. Agent said we would start at $165K. After a last minute decision yesterday we said screw it and listed at 177k. With 3 offers apparently i am just floored at what is happening in this market. After today I believe this market is totally fake and totally propped up to the point of this pop is going to hurt worst then the last. Quote Link to comment Share on other sites More sharing options...
Momorider Posted April 12, 2017 Share Posted April 12, 2017 Another thread not even a Trump thread and FAKENEWSMAINECUNT takes a fucking beating anyway Quote Link to comment Share on other sites More sharing options...
Mainecat Posted April 12, 2017 Share Posted April 12, 2017 (edited) 1 hour ago, BOHICA said: After today if markets are really where they are super hot every where I will say you have to jump fast and quick. Right now that I bought a new house and moved last month, The Wife and I spent some time getting the old house whipped into shape, Slapping a couple $100 dollars in Sherwin Williams on interior walls, Replacing bedroom carpet with $1400 dollars in home depot special on free install promotion carpet, and paid a pro cleaning company to come in and spend the day... Less then 24 hours later after listing went active we have 3 offers apparently I have yet to see as the agent just texted. I was thinking an honest list price in my area for my neighborhood would have been $160K. Agent said we would start at $165K. After a last minute decision yesterday we said screw it and listed at 177k. With 3 offers apparently i am just floored at what is happening in this market. After today I believe this market is totally fake and totally propped up to the point of this pop is going to hurt worst then the last. Yup that's why I said save your cash and wait it out if a first time buyer. post#17 Edited April 12, 2017 by Mainecat Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted April 13, 2017 Share Posted April 13, 2017 1 hour ago, BOHICA said: After today if markets are really where they are super hot every where I will say you have to jump fast and quick. Right now that I bought a new house and moved last month, The Wife and I spent some time getting the old house whipped into shape, Slapping a couple $100 dollars in Sherwin Williams on interior walls, Replacing bedroom carpet with $1400 dollars in home depot special on free install promotion carpet, and paid a pro cleaning company to come in and spend the day... Less then 24 hours later after listing went active we have 3 offers apparently I have yet to see as the agent just texted. I was thinking an honest list price in my area for my neighborhood would have been $160K. Agent said we would start at $165K. After a last minute decision yesterday we said screw it and listed at 177k. With 3 offers apparently i am just floored at what is happening in this market. After today I believe this market is totally fake and totally propped up to the point of this pop is going to hurt worst then the last. it's not built on the backs of unqualified borrowers which makes me believe it won't hurt like the last one. What would rent run in that area for that house. Mortgage depending on taxes should be all of $1200-1300 or so with minimal down. Quote Link to comment Share on other sites More sharing options...
Zambroski Posted April 13, 2017 Share Posted April 13, 2017 29 minutes ago, Mainecat said: Yup that's why I said save your cash and wait it out if a first time buyer. post#17 If anybody takes this fucking idiot twits advice....take mine too: Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted April 13, 2017 Share Posted April 13, 2017 1 hour ago, BOHICA said: After today if markets are really where they are super hot every where I will say you have to jump fast and quick. Right now that I bought a new house and moved last month, The Wife and I spent some time getting the old house whipped into shape, Slapping a couple $100 dollars in Sherwin Williams on interior walls, Replacing bedroom carpet with $1400 dollars in home depot special on free install promotion carpet, and paid a pro cleaning company to come in and spend the day... Less then 24 hours later after listing went active we have 3 offers apparently I have yet to see as the agent just texted. I was thinking an honest list price in my area for my neighborhood would have been $160K. Agent said we would start at $165K. After a last minute decision yesterday we said screw it and listed at 177k. With 3 offers apparently i am just floored at what is happening in this market. After today I believe this market is totally fake and totally propped up to the point of this pop is going to hurt worst then the last. Seriously dude, the 160K homes are not going to pop the market. People are bidding 700K over asking here. Quote Link to comment Share on other sites More sharing options...
Gold Member BOHICA Posted April 13, 2017 Gold Member Share Posted April 13, 2017 2 minutes ago, Angry ginger said: it's not built on the backs of unqualified borrowers which makes me believe it won't hurt like the last one. What would rent run in that area for that house. Mortgage depending on taxes should be all of $1200-1300 or so with minimal down. 1000-1100. It was the wifes house before we met single mom special. Taxes are about 1100 a year and insurance I think I was paying around 500 a year. It will be the highest house price sold in the development to date by 10k. Low house are $115k in the development. I have done alot to the place over the years have kick as yard, heated and insulated 2 car and such but people are fricken bonkers worse then when I bought my own house in 2007. I figure the top of our house was 165K or that is the value I would put on it.... Yay for my wife and me on this sell but it scares the fuck out of me! The place I just bought I figure we paid around 50-60k to much for it or what I think its worth but if we didn't jump on it somebody else was right behind us. Literally like 5 minutes behind us after we had a signed and accepted offer a better offer came into the seller. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted April 13, 2017 Share Posted April 13, 2017 2 minutes ago, BOHICA said: 1000-1100. It was the wifes house before we met single mom special. Taxes are about 1100 a year and insurance I think I was paying around 500 a year. It will be the highest house price sold in the development to date by 10k. Low house are $115k in the development. I have done alot to the place over the years have kick as yard, heated and insulated 2 car and such but people are fricken bonkers worse then when I bought my own house in 2007. I figure the top of our house was 165K or that is the value I would put on it.... Yay for my wife and me on this sell but it scares the fuck out of me! The place I just bought I figure we paid around 50-60k to much for it or what I think its worth but if we didn't jump on it somebody else was right behind us. Literally like 5 minutes behind us after we had a signed and accepted offer a better offer came into the seller. hell taxes that low then the mortgage should be the same or less than the rent Quote Link to comment Share on other sites More sharing options...
Gold Member BOHICA Posted April 13, 2017 Gold Member Share Posted April 13, 2017 2 minutes ago, ArcticCrusher said: Seriously dude, the 160K homes are not going to pop the market. People are bidding 700K over asking here. Area based/income Its not a booming metropolis. Our house they will over pay 20k in my opinion. Its going to be a miracle if it appraises for what there offer is for the area. This house was literally a 135k-140k house in 2011. What I called the bottom of our market. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted April 13, 2017 Share Posted April 13, 2017 i looked at a 1500sqft brick home on sunday. it was gutted 5 years ago. new wiring/box, plaster, kitchen, baths. it's a two bedroom with a small office. beautiful neighborhood filled with character homes. this one was built in 1920. $125,000 asking. it's been sitting 100 days. Quote Link to comment Share on other sites More sharing options...
Gold Member BOHICA Posted April 13, 2017 Gold Member Share Posted April 13, 2017 1 minute ago, Angry ginger said: hell taxes that low then the mortgage should be the same or less than the rent Yep. It will be a couple hundred cheaper then rent. Quote Link to comment Share on other sites More sharing options...
GreenStreak Posted August 1, 2017 Author Share Posted August 1, 2017 We are pending!!! Info later, I don't want to jinx it! Quote Link to comment Share on other sites More sharing options...
Dave Posted August 1, 2017 Share Posted August 1, 2017 1 minute ago, GreenStreak said: We are pending!!! Info later, I don't want to jinx it! Good to hear John. Quote Link to comment Share on other sites More sharing options...
Zambroski Posted August 1, 2017 Share Posted August 1, 2017 3 minutes ago, GreenStreak said: We are pending!!! Info later, I don't want to jinx it! Great news! Good to see you decided to go against MC's advice. Misery and loneliness are not a good route. Good luck! Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted August 1, 2017 Share Posted August 1, 2017 i bid on 4 homes before getting mine. i finally went full asking price and got it. the home still appraised $6k above my offer. playing the foreclosure game is great if you have the patience and time. i don't. market on homes between $150k and 200k is red hot. even homes down to the 125k go fast. usually there's an offer within 48 hours. i'm watch valuation really close. if it continues to rise i may be tempted to sell come next spring. Quote Link to comment Share on other sites More sharing options...
Momorider Posted August 1, 2017 Share Posted August 1, 2017 2 minutes ago, ActionfigureJoe said: i bid on 4 homes before getting mine. i finally went full asking price and got it. the home still appraised $6k above my offer. playing the foreclosure game is great if you have the patience and time. i don't. market on homes between $150k and 200k is red hot. even homes down to the 125k go fast. usually there's an offer within 48 hours. i'm watch valuation really close. if it continues to rise i may be tempted to sell come next spring. Full asking bidding wars are almost always over asking by as much as 20% you ignorant know nothing sack of shit Quote Link to comment Share on other sites More sharing options...
Mileage Psycho Posted August 1, 2017 Share Posted August 1, 2017 6 minutes ago, Momorider said: Full asking bidding wars are almost always over asking by as much as 20% you ignorant know nothing sack of shit English you worthless sack of shit. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted August 1, 2017 Share Posted August 1, 2017 31 minutes ago, ActionfigureJoe said: i bid on 4 homes before getting mine. i finally went full asking price and got it. the home still appraised $6k above my offer. playing the foreclosure game is great if you have the patience and time. i don't. market on homes between $150k and 200k is red hot. even homes down to the 125k go fast. usually there's an offer within 48 hours. i'm watch valuation really close. if it continues to rise i may be tempted to sell come next spring. It amazes me what decent properties you guys can get for that kind of money. Here you wouldn't get a pot to piss in. Quote Link to comment Share on other sites More sharing options...
Momorider Posted August 1, 2017 Share Posted August 1, 2017 23 minutes ago, Mileage Psycho said: English you worthless sack of shit. Every fucking word Quote Link to comment Share on other sites More sharing options...
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