Re: Are Home Prices Stabilizing in Your Area?

On It · ‎03-15-2021

@sashamatthews wrote:
Yes, the market is softening. In my town, prices range from about five million down to a couple hundred thousand. At each price point it is a buyer's market, according to the realtor who is selling my parents' house. If your home is not renovated and in spotless condition, good luck finding a buyer.

Would you mind telling us the geographic area where you live? South, Pacific Northwest, etc.

Desert Lily · ‎06-24-2011

I live on the southwest coast, and home prices here have not stabilized at all. In fact, there was a news article on the weekend stating how home prices have soared again. Most articles I've read have stated that prices will continue to rise for a while before stabilizing.

hckynut · ‎03-10-2010

@Cali Bag Lady wrote:
Not at all. I am in Northern California and the housing market has really become insane. Part of the reason for the explosion are the folks leaving the San Francisco Bay area to other towns (as they can now work from home) and the folks moving up here from So. Cal. They are selling their homes for huge amounts of $$$ and are coming here and paying cash for homes. Houses in my immediate area/neighborhood are all selling with multiple offers and are going for up to $70k over asking price.

@Cali Bag Lady

I'll be danged! And I keep reading about the mass exodus from California to other states. $70k over asking price? Add another $70k and you can buy a pretty nice home around here.

My wife's cousin lived around the LA area for several decades. She couldn't even get within $20k of her asking price for her home. She sold it anyway and figured she would still make out better here because of the much lower taxes on her home here, and the elimination of some taxes in CA.

No beaches here, just the Mighty Mo!

hckynut

hckynut(john)

Stray · ‎04-20-2013

In NJ houses are selling and high prices. My niece's son has been trying to buy a house and he starts $50,000 above the asking price and has been outbid for 15 homes. Finally, he and his fiancé got a house for $450,00.0 but it's a fixer upper. The home is in central Jersey. Up here in the north, two bedroom condos are selling at the same price & higher and going fast.

Sage04 · ‎07-10-2011

In my subdivision, the houses start at around 250. The subdivision is 4 years old. Zillow bought two of the houses for 120,00 over asking price and 145,00. In no time at all Zillow was able to sell those houses.

We´re thinking about doing the same with ours. We set a date for September for them to do an appraisal. Some home owners are selling and then renting for a year and hope that the prices for the houses will drop.

kivah · ‎03-11-2010

@suzyQ3 wrote:
@kivah wrote:
@Kalli wrote:
@kivah wrote:
@Kalli wrote:
@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.
@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.

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.
@kivah Yes I know you're right about that. Many of them show pictures of their kids, spouse, etc. Talk about gimmicks.
Realtors try to relate to the homeowners or buyers - which is fine. Always best to interview many realtors --- to see their track record in the area u live. If someone doesn't have to sell their house -- or buy a house at this time --- I think it's best to wait. The housing market is crazy -- and we'll be seeing many foreclosures. Unfortunately, the hedge-funds, corporations, BlackRock/BlackStone will be buying up many of these homes and paying CASH --- making it difficult for the average family to buy. Then they rent them out. Our government at work!!!!!
@kivah, those institutions you list are not our government.
I meant to say that the government shouldn't be allowing all these investors to buy up the homes. There are builders that build tracts of homes - and only sell to these Big Investors, ie, BlackStone, BlackRock. Our government wants citizens to become Renters - not Owners.

suzyQ3 · ‎03-09-2010

@kivah wrote:
@suzyQ3 wrote:
@kivah wrote:
@Kalli wrote:
@kivah wrote:
@Kalli wrote:
@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.
@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.

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.
@kivah Yes I know you're right about that. Many of them show pictures of their kids, spouse, etc. Talk about gimmicks.
Realtors try to relate to the homeowners or buyers - which is fine. Always best to interview many realtors --- to see their track record in the area u live. If someone doesn't have to sell their house -- or buy a house at this time --- I think it's best to wait. The housing market is crazy -- and we'll be seeing many foreclosures. Unfortunately, the hedge-funds, corporations, BlackRock/BlackStone will be buying up many of these homes and paying CASH --- making it difficult for the average family to buy. Then they rent them out. Our government at work!!!!!
@kivah, those institutions you list are not our government.
I meant to say that the government shouldn't be allowing all these investors to buy up the homes. There are builders that build tracts of homes - and only sell to these Big Investors, ie, BlackStone, BlackRock. Our government wants citizens to become Renters - not Owners.