Charlotte real estate market

[stirs]

Patience will pay off guys

https://nypost.com/2022/06/22/jp-morgan-reportedly-laying-off-hundreds-in-mortgage-business/

[toldozer]

1 hour ago, stirs said:

Patience will pay off guys

https://nypost.com/2022/06/22/jp-morgan-reportedly-laying-off-hundreds-in-mortgage-business/

Interest rates will still be higher.  Just means my buyers will have less competition.  Still should have bought last year,  six months ago and last month

[LinvilleGorge]

Yep, if you're sitting on cash your patience might pay off. If you're having to rely on a mortgage prices are going to have to absolutely crash for you to come out ahead.

[Happy Panther]

+1 For Trex. We redid the deck in Trex and it is no fuss. Holds heat like a mofo though.

[stirs]

https://www.dailymail.co.uk/news/article-11150999/Is-America-verge-new-housing-collapse-Mountain-West-Sun-Belt-overvalued-72.html

[toldozer]

40 minutes ago, stirs said:

https://www.dailymail.co.uk/news/article-11150999/Is-America-verge-new-housing-collapse-Mountain-West-Sun-Belt-overvalued-72.html

I'd pay 400k to live in Charlotte way before I'd pay 525k to live in Idaho.  60% overvalued is no where near accurate.  We gain people every single day those people need housing. I would say we're holding pretty steady on prices right now maybe a tiny decrease (glad we sold our rental in March though). The problem is sellers are being slow to learn that you can't price your home for 20k more than what the home down the street just sold for anymore.   

Edited August 29, 2022 by toldozer

[Ja Rhule]

Charlotte market is driven by pure demand and it won’t stop.  The inventory is still low.

[LinvilleGorge]

2 hours ago, Ja Rhule said:

Charlotte market is driven by pure demand and it won’t stop.  The inventory is still low.

Everywhere is. The pandemic and subsequent material shortage threw a massive monkey wrench into the supply. Ironically, now the Fed is doubling down on this supply issue with interest rate hikes. It's the only tool they have, but they're basically using a hammer when they need a screwdriver. A smart person might realize this and not pound away with that hammer but I don't think the Fed is very smart. At all.

[Squirrel Gravy]

Purchased our house in 2009 for 139000 and put 30000 down. We sold it to a family from Pennsylvania for 330000 in July. We are staying in our fifth wheel at a campground and sitting on our cash for a few months. 

[Shocker]

My parents retired to The Villiages in Florida and spent 250 on their place.  Honestly this place is amazing.  Not moving to the middle of Florida but damn it’s an amazing home

Edited August 29, 2022 by Shocker

[LinvilleGorge]

41 minutes ago, Shocker said:

My parents retired to The Villiages in Florida and spent 250 on their place.  Honestly this place is amazing.  Not moving to the middle of Florida but damn it’s an amazing home

I hate to be the one to tell you this, but your parents are swingers.

 

[Shocker]

2 minutes ago, LinvilleGorge said:

I hate to be the one to tell you this, but your parents are swingers.

 

LOL…we were down because my father died but no.  Some of those folks were but not them.  There were some creepy moments though

Edited August 30, 2022 by Shocker

[LinvilleGorge]

2 minutes ago, Shocker said:

LOL…we were down because my father died but no.  Some of those folks were but not them

I was just giving you poo.

But yeah, The Villages are well known for their retiree swinger community.

My wife's family are all in the medical field in Florida. Evidently everyone in The Villages has an STD of some sort.

I guess when everyone is past menopause protection becomes an afterthought.

[Shocker]

3 minutes ago, LinvilleGorge said:

I was just giving you poo.

But yeah, The Villages are well known for their retiree swinger community.

The Villages is amazingly large…I have heard the tails but like mom told me…”not my friends!”  Sure, ok mom.  

Edited August 30, 2022 by Shocker