Crnr2Crnr Posted May 24, 2023 Author Share Posted May 24, 2023 30 minutes ago, ICG said: I have been looking for a new home for over a year... 1). Inventory is thin too none existent. 2). Owners seem apprehensive to list homes, as they too don't know what they can buy 3). Seeing caveats on sales contracts, that void contract if seller can't find replacement property. 4). You only have a month or so after selling to purchase or be under contract, to avoid paying capital gains taxes on the sale. 5). Seeing + hearing the same lines....people asking three times more since COVID. With 4 parcels to sell. + close on, it's almost impossible to reinvest everything economically. This market sucks to be a buyer what type of properties are you looking to unload? at some point I'm going to need to part with multiple investment properties and was loosely advised to look into IRS 1031 which I've yet to concern myself with. https://www.investopedia.com/financial-edge/0110/10-things-to-know-about-1031-exchanges.aspx Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted May 24, 2023 Share Posted May 24, 2023 1 hour ago, ICG said: I have been looking for a new home for over a year... 1). Inventory is thin too none existent. 2). Owners seem apprehensive to list homes, as they too don't know what they can buy 3). Seeing caveats on sales contracts, that void contract if seller can't find replacement property. 4). You only have a month or so after selling to purchase or be under contract, to avoid paying capital gains taxes on the sale. 5). Seeing + hearing the same lines....people asking three times more since COVID. With 4 parcels to sell. + close on, it's almost impossible to reinvest everything economically. This market sucks to be a buyer Cash without any conditions is king. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Jimmy Snacks Posted May 24, 2023 Platinum Contributing Member Share Posted May 24, 2023 Our little town is a tourist destination and a lot of inventory has been snapped up and turned into short term rentals/air bnb…basically impossible for working people to find housing right now. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Steve753 Posted May 24, 2023 Platinum Contributing Member Share Posted May 24, 2023 Just now, Jimmy Snacks said: Our little town is a tourist destination and a lot of inventory has been snapped up and turned into short term rentals/air bnb…basically impossible for working people to find housing right now. Make hay whilst the sun shines. That's my plan for my new place as well. Easy money. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted May 24, 2023 Share Posted May 24, 2023 Never chase after the bidding wars, that's only what fools do. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Steve753 Posted May 24, 2023 Platinum Contributing Member Share Posted May 24, 2023 1 minute ago, ArcticCrusher said: Never chase after the bidding wars, that's only what fools do. Thanks Captain Obvious. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted May 24, 2023 Share Posted May 24, 2023 32 minutes ago, Steve753 said: Thanks Captain Obvious. Not when it comes to you fools. Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted May 24, 2023 Author Share Posted May 24, 2023 On 5/22/2023 at 8:05 PM, racinfarmer said: My big hitters are it has to not have any kind of strips and it has to be Mexico Blue or Birch Green. After that, no strips and almost any other non-metaillic PTS color. you stuck on gt3? decent looking GTS with some miles went across the block this afternoon. starting to see some RNM auctions and units selling lower with no reserve. the recession is coming... Quote Link to comment Share on other sites More sharing options...
racinfarmer Posted May 24, 2023 Share Posted May 24, 2023 11 hours ago, Crnr2Crnr said: was that abb/VRBO related or because big investment groups were buying up property? I think both. I tried to find the article today and have not been able to. 7 hours ago, Jimmy Snacks said: Our little town is a tourist destination and a lot of inventory has been snapped up and turned into short term rentals/air bnb…basically impossible for working people to find housing right now. Same here. The farm has a farm site with a house we were going to tear down. Now I'm thinking about turning it into a AirBnB/VRBO. Hell, the shitty ass house down the street from my parents old house, pre-vid, we for sale for years for literally $19,900. Someone bought it, hasn't done a damn thing to it other they keep the lawn mowed and pay the taxes and they are asking $159,900 or something crazy like that. 2 hours ago, Crnr2Crnr said: you stuck on gt3? decent looking GTS with some miles went across the block this afternoon. starting to see some RNM auctions and units selling lower with no reserve. the recession is coming... I lowballed the shit out of a base base base base silver high mile 911 a couple months back. I hate plain silver 911's. No questions asked other then will it run long enough to drive onto my trailer and will you take $100's. 1 Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted May 25, 2023 Author Share Posted May 25, 2023 1 hour ago, racinfarmer said: I think both. I tried to find the article today and have not been able to. Same here. The farm has a farm site with a house we were going to tear down. Now I'm thinking about turning it into a AirBnB/VRBO. I lowballed the shit out of a base base base base silver high mile 911 a couple months back. I hate plain silver 911's. No questions asked other then will it run long enough to drive onto my trailer and will you take $100's. if/when you have time I'm curious about the short term rental info certain 11's are still bringing and will continue to bring bank, especially air cooler 90-97 911 Turbo sold under normal market today as well as a merc GT, and some Italian meatballs. Interesting to watch... still not a player at these inflated prices. Tick tock... Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted May 26, 2023 Author Share Posted May 26, 2023 Oh ... I forgot about commercial real estate The $500 billion ‘Office real estate apocalypse’: Researchers find remote work’s effect even worse than expected https://fortune.com/2023/05/25/office-space-crash-harder-than-expected-remote-work-economy-cre-crash/ Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted June 1, 2023 Author Share Posted June 1, 2023 https://www.foxbusiness.com/video/6328266133112 Commercial real estate narrative 'less than positive': Chase Garbarino tick tock... Quote Link to comment Share on other sites More sharing options...
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