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Key:
Admin,
Global Mod,
Mod
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Joined: Oct 2017
Posts: 4,968 Likes: 2
12 point
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12 point
Joined: Oct 2017
Posts: 4,968 Likes: 2 |
2 houses I’ve been out bid on. First one went for $30,000 over asking but it was a very desirable home with some unique features. This last one I bid 15,000 over asking and still got outbid. The realtors blame the school system. I’m simply trying to stay in the kids school district but it’s a fight between what’s big enough, what’s available, and what I can afford. On the verge of pulling my damn hair out.
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Joined: Jul 2020
Posts: 10,379 Likes: 72
Booner
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Booner
Joined: Jul 2020
Posts: 10,379 Likes: 72 |
The interest rates don't help and get ready to pay the Biden "tax" to help out those less fortunate.
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Joined: Aug 2001
Posts: 81,844 Likes: 513
GUVNER
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GUVNER
Joined: Aug 2001
Posts: 81,844 Likes: 513 |
Its going to be at least 4-6 months before rates start coming down. They may not go up much more than where they are at now during that time period, and a significant rate reduction is over a year away. Keep that in mind.
IF you have to stay in the school district, then call the local banks and see if they have any foreclosures or pending foreclosurers you can check out. In other words, get ahead of the realtors before the house hits the market.
"Never Trust Government" -- Smart people.
"The Great thing we should Fear and the Weird Thing we Trust is Elon Musk" -- Me
"You can be broke but you cant be poor." -- Ruthie-May Webster
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Joined: Jun 2015
Posts: 15,383 Likes: 77
Old Mossy Horns
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Old Mossy Horns
Joined: Jun 2015
Posts: 15,383 Likes: 77 |
Glad I’m not trying to buy anything right now.
My house is golden handcuffs.
3/2 2000sqft 1.5ac double lot 9mi from Jordan Hare for $1,180 per month.
In my opinion if there’s a crash, it’s going to most heavily impact the following locations; Covid Boomtowns like Nashville Boise, Austin etc, middle-upper middle class McMansions 4000sqft gaudy cheaply built homes on 0.22ac lots that the folks make $165,000 per yea but spend lol they’re making $300,000 and certain vacation markets with heavy DSCR buying.
I could be wrong on all 3 but we shall see.
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Joined: Dec 2016
Posts: 12,677 Likes: 116
Booner
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Booner
Joined: Dec 2016
Posts: 12,677 Likes: 116 |
Housing market in Tuscaloosa is pretty bad
There are close to 900 realtors her and maybe 400-450 houses that are well overpriced (obviously)
When I need expert advice I tend to talk to myself
The older I get the better I used to be
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Joined: Jul 2020
Posts: 10,379 Likes: 72
Booner
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Booner
Joined: Jul 2020
Posts: 10,379 Likes: 72 |
The house next to me hasn't sold since last summer. I don't know what the folks did to it, but it must smell something awful on the inside, because its asking price is down close to what my house is worth, and the house is a bigger one than mine.
They are building some houses down past Highlands on 119, and they are so close together, the first 3 on a circle going into the hood all share a common driveway. You couldn't really even have people come over, they wouldn't have a place to park.
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Joined: Nov 2014
Posts: 14,858 Likes: 33
Puts sugar in his cornbread!
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Puts sugar in his cornbread!
Joined: Nov 2014
Posts: 14,858 Likes: 33 |
Who is biding that high over listing with the interest rate as high as it is? That makes no sense.
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Joined: Nov 2011
Posts: 2,260
8 point
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8 point
Joined: Nov 2011
Posts: 2,260 |
Higher interest rates should help with bidding wars. Low interest rates usually pump up bid wars on homes. The feds are raising interest rates to cool down the housing market to prevent 2008.
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Joined: Jun 2015
Posts: 15,383 Likes: 77
Old Mossy Horns
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Old Mossy Horns
Joined: Jun 2015
Posts: 15,383 Likes: 77 |
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Joined: Jan 2017
Posts: 5,760 Likes: 75
12 point
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12 point
Joined: Jan 2017
Posts: 5,760 Likes: 75 |
Who is biding that high over listing with the interest rate as high as it is? That makes no sense. It's all supply and demand. Houses in good school districts will always bring a premium. Rent rates are up so bidding over asking on a house may be necessary to purchase. At some point the market will slow down but still lots of people moving from the North or both coasts and several have cash to buy homes here so interest rates don't matter.
"It is the mark of an educated mind to be able to entertain a thought without accepting it"
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Joined: Sep 2012
Posts: 24,103 Likes: 296
Freak of Nature
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Freak of Nature
Joined: Sep 2012
Posts: 24,103 Likes: 296 |
That was part of what led to the housing bust in 2007-08. Investors pumping up demand and prices to unsustainable levels until it crashed. There were of course other issues at play but simple supply/demand economics never fails to predict.
Dying ain't much of a living boy...Josey Wales
Molon Labe
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Joined: Nov 2015
Posts: 21,456
Freak of Nature
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Freak of Nature
Joined: Nov 2015
Posts: 21,456 |
Who is biding that high over listing with the interest rate as high as it is? That makes no sense. Seen the mass exdous out of west coast? That is what is moving here. They are paying cash for homes.
Isaiah 5:20 Woe to those who call evil good and good evil, who put darkness for light and light for darkness, who put bitter for sweet and sweet for bitter.
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Joined: Jan 2014
Posts: 5,497 Likes: 4
12 point
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12 point
Joined: Jan 2014
Posts: 5,497 Likes: 4 |
Who is biding that high over listing with the interest rate as high as it is? That makes no sense. Seen the mass exdous out of west coast? That is what is moving here. They are paying cash for homes. Yep they sell they’re crap hole of a home for $1.2 mil and buy a nice house for $450k.
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Joined: Jun 2015
Posts: 15,383 Likes: 77
Old Mossy Horns
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Old Mossy Horns
Joined: Jun 2015
Posts: 15,383 Likes: 77 |
Who is biding that high over listing with the interest rate as high as it is? That makes no sense. Seen the mass exdous out of west coast? That is what is moving here. They are paying cash for homes. Yep they sell they’re crap hole of a home for $1.2 mil and buy a nice house for $450k. Yup $30,000 to California refugees is nothing. They’re save way more than that each year in taxes.
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Joined: Aug 2001
Posts: 81,844 Likes: 513
GUVNER
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GUVNER
Joined: Aug 2001
Posts: 81,844 Likes: 513 |
Who is biding that high over listing with the interest rate as high as it is? That makes no sense. Seen the mass exdous out of west coast? That is what is moving here. They are paying cash for homes. Yep they sell they’re crap hole of a home for $1.2 mil and buy a nice house for $450k. The severance package a lot of those California tech companies gave to those folks they recently fired is more than enough to pay cash for a nice 4 bedroom house in the Huntsville to Nashville region.
"Never Trust Government" -- Smart people.
"The Great thing we should Fear and the Weird Thing we Trust is Elon Musk" -- Me
"You can be broke but you cant be poor." -- Ruthie-May Webster
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Joined: Sep 2001
Posts: 1,247 Likes: 18
8 point
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8 point
Joined: Sep 2001
Posts: 1,247 Likes: 18 |
A lot of CA are stopping short of Alabama. The upper Midwest is where I am seeing the biggest movement currently and they are writing checks for houses. interest rate is irrelevant to them.
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Joined: Jan 2014
Posts: 5,497 Likes: 4
12 point
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12 point
Joined: Jan 2014
Posts: 5,497 Likes: 4 |
A lot of CA are stopping short of Alabama. The upper Midwest is where I am seeing the biggest movement currently and they are writing checks for houses. interest rate is irrelevant to them. That’s also true. They’re moving to Idaho, Arizona, Nevada and Montana
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Joined: Jan 2001
Posts: 29,718 Likes: 165
Freak of Nature
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Freak of Nature
Joined: Jan 2001
Posts: 29,718 Likes: 165 |
[quote=jhardy]A lot of CA are stopping short of Alabama. The upper Midwest is where I am seeing the biggest movement currently and they are writing checks for houses. interest rate is irrelevant to them. [/quote,]
That’s also true. They’re moving to Idaho, Arizona, Nevada and Montana And my sister just sold her house in AZ and moved to TN because she wanted to raise her son in the South. My brother just sold his house in NV and bought a house on Perdidio Bay because he and his wife wanted to live on the water somewhere not being overrun, and soon to be taken over by left thinking people. Both were able to make nice profits on their sales due to folks fleeing Cali. Also, the people next door to me in my new house in TN are Cali refugees. They seem like nice people.
Lord, please help us get our nation straightened out.
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Joined: Jan 2014
Posts: 4,494
10 point
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10 point
Joined: Jan 2014
Posts: 4,494 |
[quote=jhardy]A lot of CA are stopping short of Alabama. The upper Midwest is where I am seeing the biggest movement currently and they are writing checks for houses. interest rate is irrelevant to them. [/quote,]
That’s also true. They’re moving to Idaho, Arizona, Nevada and Montana And my sister just sold her house in AZ and moved to TN because she wanted to raise her son in the South. My brother just sold his house in NV and bought a house on Perdidio Bay because he and his wife wanted to live on the water somewhere not being overrun, and soon to be taken over by left thinking people. Both were able to make nice profits on their sales due to folks fleeing Cali. Also, the people next door to me in my new house in TN are Cali refugees. They seem like nice people. Figure out how they vote before you get too close with them.
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Joined: Mar 2015
Posts: 6,174 Likes: 27
12 point
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12 point
Joined: Mar 2015
Posts: 6,174 Likes: 27 |
My neighbors here in West Tennessee are from California and Illinois. They both said they left due to the taxes etc. I straight up said don’t bring them liberal politics here and they reassured me both saying you don’t have to worry about us lol
2017 Team Aldeer Turkey Contest Champion
2018 Team Aldeer Turkey Contest Champion
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