Community Chat

[kivah]

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@Kalli wrote:

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@proudlyfromNJ wrote:

We keep getting cards with a picture of our house and saying name a price and if we agree we'll give you cash as is. Of course they will not be handing over millions for our home but we never have been inundated with these cards before. Usually it's just some add from a realtor asking if you want to sell. This is in southern NY state. 

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@proudlyfromNJ we get cards, too!  The thing I don't like is now people are starting to text me.  They never leave their name, just say that they're interested in buying properties.  I can hear my dad, whose career involved dealing with the public, advising that with any interaction, "always introduce yourself first!"  The cards sometimes only have first name signed.  The texts never have any id whatsoever.

I immediately delete texts and only save cards that have complete signatures on them.  Not ready to sell and may never be, but I do file away the correspondence that's signed with full name.

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No need to keep the signed correspondence --- it's just a gimmick. When people are thinking about selling their house, best to call several real estate agents in the area - to get updated information. 

[phoenixbrd]

Traveled several states looking at homes and trends in the housing market.  Of course, no one knows where this market is headed.  Our take after our travels:  interest rates rising, inflation rising....current market unsustainable and the signs are beginning to slowly show, currently there is a frenzy to sell before the lower falling prices are clearly evident ....so this still currently keeps it a seller's market.  If we want to move, NOW is the time to sell and hold out for the lower market.  If you like where you are living, stay put.  

@On It  Astute observation regarding the coasts.  In southern California prices are just beginning to drop and slightly more houses on the market.  Still a feeding frenzy as the realization of dropping prices continues...more are jumping on the band wagon to sell while their house prices are high....mass exodus from California - sell high here, buy in a more tax friendly, cost efficient state.  Inflation, raising interest rates, unstable economic and political considerations will generate lower housing costs in the future.

[Lilysmom1]

@phoenixbrd  et al, have forest fires affected home sales? Home prices?  Just curious.  LM

[phoenixbrd]

@Lilysmom1   We have not checked northern California prices specifically so I don't know.  We have closely followed Southern California and visited several states where we are considering moving.  Interesting question....

Just researched and read this:  

Communities devastated by fires will see sharp price cuts

In neighborhoods where homes were leveled into blackened earth, prices for houses that were spared can fall 20% to 30%, says real estate appraiser Bell. Homes that were damaged or destroyed can lose about 70% or be reduced to their land value, he says.

But then there are differing opinions too.  

I would think these fires would only exacerbate the flight from California and ultimately, decrease prices for the reasons mentioned above as well.

[On It]

@phoenixbrd Thank you for sharing your observations. I have been getting little whispers of change, but I was curious to know if it was actually beginning to happen.

[phoenixbrd]

@On It   Yes, your whisphers are being confimed by the real estate agents we are talking to in several states as well as southern California.  High priced inventory is slowing down (for those who can wait) due to the expectations of lower prices coming.

[On It]

@phoenixbrd You are wise to be traveling and talking to experts. I spend hours on Zillow looking at every part of the country, but getting a true picture is difficult. I am probably too old to attempt a big move, but I am intrigued by Vancouver, WA and upstate NY. I think the winters on the upper East coast may be more than my bones could handle, but the area is very appealing.

[shoptilyadropagain]

Slightly.  My mom's next door neighbors put their house on the market 3-4 weeks ago.  They dropped the price by a couple of thousand and it is now pending.

[suzyQ3]

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@phoenixbrd wrote:

Traveled several states looking at homes and trends in the housing market.  Of course, no one knows where this market is headed.  Our take after our travels:  interest rates rising, inflation rising....current market unsustainable and the signs are beginning to slowly show, currently there is a frenzy to sell before the lower falling prices are clearly evident ....so this still currently keeps it a seller's market.  If we want to move, NOW is the time to sell and hold out for the lower market.  If you like where you are living, stay put.  

@On It  Astute observation regarding the coasts.  In southern California prices are just beginning to drop and slightly more houses on the market.  Still a feeding frenzy as the realization of dropping prices continues...more are jumping on the band wagon to sell while their house prices are high....mass exodus from California - sell high here, buy in a more tax friendly, cost efficient state.  Inflation, raising interest rates, unstable economic and political considerations will generate lower housing costs in the future.

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@phoenixbrd, SoCal here on the beach. Thankfully, we are in tune with our state and have no desire to leave in order to save money or for political leanings.

And we're okay with a little mass exodus. :-)

[FiddleDeeDee]

Depends.

The only area in Florida we're keeping an eye on is the area that is zoned for our specific schools. In OUR location, yes, prices are coming down.

Example: Homes would last an hour or so on the market before being purchased; offers were always $20,000 plus; no inspections and usually site unseen. Add in that the cost of homes here now vs last year is more than a $75,000 INCREASE. It's been unfreakingreal. Never more than 6-7 houses on the market for sale. We stepped out of the market and resigned our rental lease for another year as of this past June.

2 months later: there are 38 homes on the market. List prices are MUCH lower for the same design home in the same neighborhood then just a few months ago. MANY homes are reduced from $20,000 to $75,000 and just sitting there.  There are also 3 new home sites up and sales are slow. And this is for homes sitting in the zoned area with TOP k-12 schools in the entire county.  HUGE difference in the past 6 months.

Now, back in Maryland it's a different story. In the area our homes are located, prices are high and contracts are $10,000 plus over list price. Few, if any homes are on the market. Huge demand. 180 degree difference from where we are in Florida and where we came from in MD.

Does this mean ALL of Florida and ALL of Maryland are just like this? Don't know and I would not tell someone it is. I can and will only speak of the areas we are currently in at this time.