Inventory high? Low?

Tell me what you know.

Housing market is booming. Great time to be a seller. Lots of people moving away from cities due to violence and work from home.

It's off the chain, feels for the youth and middle class who are literally being priced out of being homeowners. At least here in TN

Also property is being sold before it even hits the market, construct is backlogged for the next year half, they can't throw them up fast enough, it's nutty

Excellent news

Lots of active bidders vying for reduced levels of stock has been pushing prices up

I had a recent auction and did way better than expected

https://forum.obnoxiousbrutes.com/showt...post1617017971

Really awful if you're trying to buy something. Great if you're trying to sell.


Brb offer full asking price + pay for closing costs



Offer rejected


U fkn wot m8

This
Wife is a realtor and chit is booming.

This is my problem. As I have been saving, prices have kept climbing. I can't keep up. Monthly is lower due to lower rates, but the down payment is the killer.

Beginning of the year I was seeing townhouses for between 150-160. Now you can't find one under 180k without an absurd HOA fee or a chithole.

All the condos that are cheap (90-110k) have a $3-400 HOA fee for a fukking box.

This is how I feel. I don't buy condo's or house's, only multi unit rental properties but even having a above average income it's getting really rough.


I don't know how your average joe is ever suppose to do anything other then rent. If you're not making 70k+ in this market you're basically ****ed unless you want to live in some ghetto.


I'm wondering how high these prices can realistically climb. Next generation is seriously ****ed.

And circumstances. People were giving offers to my father, and his place wasn’t even listed for over a year. Handicap accessible and huge, etc. He decided to hold on to it in the end, but offers were much higher than 3 years ago. The market has changed.

It's very market dependent, so without know where you live I can't give you a straight answer

In general though, in a lot of areas, supply is very low and demand has remained relatively constant throughout this pandemic. Market is doing very well, it is still slightly a seller's market

I put my house on the market and got 3 offers, 10 showings within 24 hours and one offer 5k over asking within a few hours\

Luxury market does seem slower however

Yep, I know some cats who are for real balling out of control, scooped up 10 properties in 2008, unloading all of them now, and will buy **** up immediately as soon as it all comes tumbling down. The other guy who quoted you touched on it really well too.

Its rough out here, just keep hustling and forming relationships man, that's all I know to do

Ahh yes another Chicago brah.

Yea I will probably just wait until spring and see what is up. I only thought about townhouses/condos because I was originally hoping I could get in pretty cheap, live in it for a bit, then rent it out. Now I don't know what to do. I want a house with some land, but at this rate I'll need to double my income and save another 40-50k.

Edit:Yea a coworker of mine flips houses on the side with her husband. They haven't touched anything since they sold last summer. It's not even worth it at this point.

Just savemaxxing right now and job searching trying to make some more money. That's what's holding me back the most at this point because I got comfortable working for my neighbors small business.

I guess patience is all I have otherwise.

The thing is when you are a newbie it's extremely competitive. You are likely only seeing things that are on the market, and once a deal hits the market it's usually too late. The legit buyers are getting these deals pre market, and their agents / wholesalers are feeding them these properties. If you are working with an agent that is going to give you the time of day as a newbie the agent likely isn't great or you are low on their priority list and will see the deals that their experienced buyers have already passed up

I'm making some assumptions here but generally that's how it goes

Pretty accurate. A coworkers son just moved out too. He was in the market looking all year and couldn't keep up. The townhouse he just bought was on the market 1 hour. Then went and saw it, he put an offer in for asking price 5 hours after it was on the market. There were already 4 other offers. The reason he got it though was because all other offers were contingent. Luckily he had good savings, great credit, solid job, etc.

And I wouldn't have paid what he paid for that. My sister bought a townhouse for 108k in 2014. Her area is now selling for 170k+. 10% appreciation yearly for a 1999 townhouse with 2 beds 1.5 baths, $220 HOA fee, etc.

It would suck to be 80% of the realtors right now fighting for scraps.

I must be a newbie because I've never met an agent that gets buildings before they hit market.

I own multiple rental properties. Mostly 3/4 flats.