Housing market rest of the year?

This is exactly why it's a scam. Part of the scam is that they have the system rigged to keep you from selling privately.

Nothing on that list is something an ordinary person either can't do themselves or hire someone to do and it certainly doesn't cost tens of thousands of dollars to get those jobs done.
Well shit, I guess the next time I meet secretly with all the lenders, lawyers, home inspectors, county clerks, title companies, surveyors, etc I will have to tell them that the gig is up and we can no longer run our little scam. RoastBeast is gonna finance his own mortgage, be his own lawyer, do his own surveys and inspections and set the example for the masses to follow.

Oh well, it has been a good run.
 
Well shit, I guess the next time I meet secretly with all the lenders, lawyers, home inspectors, county clerks, title companies, surveyors, etc I will have to tell them that the gig is up and we can no longer run our little scam. RoastBeast is gonna finance his own mortgage, be his own lawyer, do his own surveys and inspections and set the example for the masses to follow.

Oh well, it has been a good run.

That's not what I said at all. You don't have to throw a temper tantrum about it Jeff.
 
I have real estate agents leaving cards in my mailbox. My house is no palace, just an updated Cape. I would sell in a second, but where would I move too? Everything is nuts....500k around here is a starter home that needs tons of work. You can't even find those because builders over pay just for the inventory.

Yea this was the exact issue my coworker ran into. He was so happy to sell his home when prices skyrocketed and then he couldn't find anywhere to move. He was getting outbid every single time even offering 25K+ more than what they were asking for. He finally was forced to move far as fuck from work (around an hour) because of it.
 
Well it can be easy - it just depends on rules in your area. We get people where a buyer approached someone who didn't even have the house on the market. They come to us (title company) and ask what they need to do. All that we need to get the process started is a purchase agreement. The purchase agreement is everything though - it says if they are going to do inspections, survey, etc. Realistically, they can find a purchase agreement online and we'll handle the closing, transfer, recording, etc. They'd have to handle any of the other items (inspections, survey, required disclosures, etc.). This can be really smooth on a cash transaction, but with financing, it's another story.

As a neutral party in the process, I've seen it all. A lot of for sale by owner deals are total shitshows. With that said, I've seen realtors who really shouldn't even be licensed who fuck everything up. I've seen realtors grossly overpaid for "doing paperwork" on a for sale by owner deal. I'd prefer most deals to go through good realtors, but nowadays, the system is setup to have a ton of shitty realtors as long as the owners are getting their cut. When I first started in this industry, most realtors were full time. Now it's a dime a dozen with some that just do a handful of transactions per year.

I'm just asking questions since it sounds like you know some things about housing. Do you support cities and towns that ban or limit housing purchases for vacation/Air BnB rentals?
 
Now it's a dime a dozen with some that just do a handful of transactions per year.

Yea my manager does this. I asked him why he was doing it cause has a full time job make over 120k+ easily. He said he just does a few transactions a year mostly family/friends referrals.
 
I'm just asking questions since it sounds like you know some things about housing. Do you support cities and towns that ban or limit housing purchases for vacation/Air BnB rentals?

I can't really make an informed decision. We don't really have that issue here at all. We have certain zoning regulations that become interesting though. We had a large mansion here turn into a luxury rehab. People weren't crazy about that.
 
I'm just asking questions since it sounds like you know some things about housing. Do you support cities and towns that ban or limit housing purchases for vacation/Air BnB rentals?
Where I live its a huge problem and many complain that having a Air BnB Right next to them is like living next to a motel.
 
Prices here still higher than during Covid (when rates was really low).

Once rates lower, I can see house prices going up even more by 20%.

Inventory will be really low for awhile because of the low rates during covid. No one wants to sell.

I live in So Cal.
 
Where I live its a huge problem and many complain that having a Air BnB Right next to them is like living next to a motel.

I could see that. In your area is there a limit to the amount of places a person can own? I know in some cities there is a limit to what you can own and use as an Air BnB.

I can't really make an informed decision. We don't really have that issue here at all. We have certain zoning regulations that become interesting though. We had a large mansion here turn into a luxury rehab. People weren't crazy about that.
You mention this and I keep hearing the same locations having the same problems regarding housing. I don't hear about these problems in lower tier states such as West Virginia, Mississippi, Kansas, etc. This is not to say they don't exist because they do, but in order to solve the housing problem would it be reasonable to start capping housing projects in larger cities?

I ask because I know it's tied to job and resources but to solve these issues lower tier states need to step up and improve their housing, infrastructure, schools, etc and one of the ways to do that is to cap housing projects in already overpopulated areas.
 
You mention this and I keep hearing the same locations having the same problems regarding housing. I don't hear about these problems in lower tier states such as West Virginia, Mississippi, Kansas, etc. This is not to say they don't exist because they do, but in order to solve the housing problem would it be reasonable to start capping housing projects in larger cities?

I ask because I know it's tied to job and resources but to solve these issues lower tier states need to step up and improve their housing, infrastructure, schools, etc and one of the ways to do that is to cap housing projects in already overpopulated areas.

I'm in a smaller city so our problems are a bit different. We have a pretty aggressive city on distressed properties as we have a problem with distressed properties, but what they fail to realize is there is a demand for distressed properties. Rent has gone so high that you still have people that want cheaper rent. The city is pretty aggressive at trying to get into these houses and demand certain repairs (often cosmetic), but investors argue that these aren't vital repairs and it would up rent. Both the landlord and tenant are basically fighting the city. Often these investors are from out of state and our city is basically trying to push them out.

At college, one of the big battles was renters. The campus always expanded (big 10 university) so people that have lived in the town forever just outside of campus end up having their neighbors sell out to investors who turn them into duplexes or triplexes for students. They end up being party houses. Our band practiced and played shows in this big party house where insanity always occurred. The nutty part about it was that a family with kids lived next door and then on the other side of it was a small park. This was a constant battle with the city, however, what is the solution? People are bitching when these large apartment complexes go up taking out businesses. People bitch about the rental market expanding outward into houses. But everyone wants the university expanding because it brings a shitload to the city and more investment, businesses, etc.
 
"Closing costs" price gouging doesnt help either. You're telling me that it costs $30k+ in fees for real estate agents to put some paperwork together for you? People need to catch on to this scam and just start privately selling their homes. I think it would help values drop a bit as well and help both the sellers and the buyers.
US real estate agents costs are insane, they've got a good scam going.

In the UK I basically sold my apartment independently for £999 and the agency was just a portal to list it online, and most agents who do the proper job of marketing, negotiating and viewings just charge 1-2% unless it's some mega expensive house.

I don't understand how US agents got to the point of 5-6%+.
 
allowing this inflation to go uncontrolled is insane. It's also blatantly in the hands of the landlords and nothing to do with exterior economic factors. Perfect example of why an overly liberalist economy is inherently broken.
 
Highest its been yet in Manila/Makati region.
https://nypost.com/2024/02/29/real-...s-fastest-growing-luxury-property-market/amp/

Have a newer home, finished in late 2020, plan was to sell/flip in bout 5 years or so.
It’s a family home: 5 bedroom/5baths & too big for just me.
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Figured, just do it now: with (current market momentum) & build new digs on lot in nearby subdivision of same developer (Ayala Premier).
This home will be a smaller one: 3 bedroom 2 car garage & more resort style openness.

Same area, but Better view of mountains on higher/elevated ground.
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2 neighbors building already unfortunately. Prefer things the way currently: no direct neighbors.

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Have more clarity on the home I want for the long haul for me. Plan on this current one was to sell; just moving plan up by a few years.

Plan/ (Hopefully) by this time 2027, be living comfy in smaller/cozier new digs.
 
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