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TheSpecialJuan

Ron Rivera in the news again

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1 hour ago, LinvilleGorge said:

At or above asking price in this market at that price point? Well done.

You apparently haven't been looking.  High demand, very low supply.  Two neighbors of mine have had their house go under contract in 24 hrs, both with multiple offers, within the past 3 weeks.  I paid my house for full asking for mine on same day it was listed (a few months ago).  Market is crazy right now with the low inventory.

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1 hour ago, gofightwin said:

You apparently haven't been looking.  High demand, very low supply.  Two neighbors of mine have had their house go under contract in 24 hrs, both with multiple offers, within the past 3 weeks.  I paid my house for full asking for mine on same day it was listed (a few months ago).  Market is crazy right now with the low inventory.

Went under contract. If this house "sold" on Friday, it probably went under contract a month or so ago. That was a very different market. Editing to add that it's also a very different story when you're selling well above the median listing price in an area. That market is almost always a buyer's market, even when the overall real estate market it booming. Selling at or above list at well over the million dollar mark in the Charlotte area is damn good work right now. 

People buying right now are making a big mistake. I say this as someone who's set to close as a seller in less than a week. This market is a house of cards propped up with economic bandaids, historically low mortgage rates (that aren't going up anytime soon), and low inventory. Most predictions are that prices will be down 2% this winter but won't be surprised if they're considerably lower than that. In fact, that's exactly what I'm banking on.

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That neighborhood is tiny, and tucked into Quail Hollow right next to the middle school. It's a McMansion complex. Nice houses, but not a lot of character, and not walking distance to anything cool other than the Wells Fargo Championship, and that's gone now. 

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Did I read somewhere that Tepper bought it and plans to tear it down?

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My wife and I are looking for a new house in Charlotte and they basically told us it’s a slim pickings here. 

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3 hours ago, LinvilleGorge said:

Went under contract. If this house "sold" on Friday, it probably went under contract a month or so ago. That was a very different market. Editing to add that it's also a very different story when you're selling well above the median listing price in an area. That market is almost always a buyer's market, even when the overall real estate market it booming. Selling at or above list at well over the million dollar mark in the Charlotte area is damn good work right now. 

People buying right now are making a big mistake. I say this as someone who's set to close as a seller in less than a week. This market is a house of cards propped up with economic bandaids, historically low mortgage rates (that aren't going up anytime soon), and low inventory. Most predictions are that prices will be down 2% this winter but won't be surprised if they're considerably lower than that. In fact, that's exactly what I'm banking on.

Same, sold at the end of last year for a hefty profit, moved to the Charlotte area and am waiting for it to collapse so I can actually afford a house here.

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4 minutes ago, Riverboat Ron said:

Same, sold at the end of last year for a hefty profit, moved to the Charlotte area and am waiting for it to collapse so I can actually afford a house here.

I'm actually looking to move to a significantly cheaper area, I'm just trying to get a great deal and carry as little debt as possible.

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1 hour ago, Sgt Schultz said:

Did I read somewhere that Tepper bought it and plans to tear it down?

Nah. That's the stadium.

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1 hour ago, Sgt Schultz said:

Did I read somewhere that Tepper bought it and plans to tear it down?

Well done

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Posted (edited)
22 hours ago, LinvilleGorge said:

At or above asking price in this market at that price point? Well done.

The housing market is insane in Winston at the moment. Houses sold the day the go on the market. I assume Charlotte is not much different.  It's quite competitive. If someone moves in to the area and has money they are likely not wanting to spend it renting for 6 months or a year either and could prefer to put that 10 to 20 plus thousand rent  in to their own property.

Edited by Moo Daeng

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47 minutes ago, Moo Daeng said:

The housing market is insane in Winston at the moment. Houses sold the day the go on the market. I assume Charlotte is not much different.  It's quite competitive. If someone moves in to the area and has money they are likely not wanting to spend it renting for 6 months or a year either and could prefer to put that 10 to 20 plus thousand rent  in to their own property.

Most houses officially selling now went under contract 30-45 days ago. That was a very different market. 

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Honestly, anyone buying a house right now is completely out of their damn mind. Inventory sucks, prices are back to pre-COVID levels, and interest rates aren't going up anytime soon. You're buying on an economy that's a house of cards with historic levels of unemployment propped up by stimulus and a widespread hope/belief that COVID is over and things will be completely back to normal by mid-summer. That's not to even mention the widespread social unrest and the fact that it's an election year and that's always a wildcard.

But, god bless 'em. We're set to close on the sell of our house a week from today. If I'm right, we'll be buying for substantially less in a full-blown buyer's market around this time next year.

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28 minutes ago, LinvilleGorge said:

Honestly, anyone buying a house right now is completely out of their damn mind. Inventory sucks, prices are back to pre-COVID levels, and interest rates aren't going up anytime soon. You're buying on an economy that's a house of cards with historic levels of unemployment propped up by stimulus and a widespread hope/belief that COVID is over and things will be completely back to normal by mid-summer. That's not to even mention the widespread social unrest and the fact that it's an election year and that's always a wildcard.

But, god bless 'em. We're set to close on the sell of our house a week from today. If I'm right, we'll be buying for substantially less in a full-blown buyer's market around this time next year.

Any time demand is high and inventory is low, it is never a buyers market.  Even if demand tappers off as you are hoping the inventory is still low.  You aren't going to see the housing bust you are hoping for in the next year or even two.  All things come in cycles and there will be another bust but you are more likely looking at 5 to 7 years vs 1 or 2

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