Real estate going crazy.

[Realtor]

Most loans written today are at a low fixed rate and the borrower actually qualified for the loan. The cheater-got-ya loans with floating jacked up rates aren't prevalent. I doubt that the hedge funds are going to bail on the thousands of homes they now rent. Investors have skin in the game and with the lack of new housing people will stay put if there is a down turn. You folks that are waiting on the sidelines for a crash, please sit-in the sidelines and keep waiting. I'm buying and don't need anymore competition.

Haha

 

[Ex313]

I just finished the application process with "Veterans United" I got a preapproval letter.
I'm thinking about seeing what USAA's terms are next.
I'm looking but I'm not jumping on any property until I get what I really want.

I'll probable end up between Dahlonega and Gainesville because my daughter wants to attend North Georgia U.
I want to save some money by keeping a bedroom for her until she graduates and gets a job.

What I'm seeing in that area is some nice, not expensive properties. As long as I can get Cable or Fiber up there, I can work.

 

[Mr&MrsF1]

I am in a 62 house subdivision. Most homes are on an an acre. There are 5 Ranch homes like mine on full basement.
The home across the street is the same style as mine and sold for 226,000 2020.
I was offered 278,000 from a company and 284000 from Zillow last July. I turned then m down.
Now I just saw this week a ranch style home is 387,000 for sale by open door. The company that offered 278,000 now e mailed 334000 and have called everyday asking if I got the e mail or the letter with the increased offer.
We are looking up in Chattanooga and Blueridge. Evey home we see at the same price as ours that we like is under contract or crap. Homes I see that are in my price range don't appeal to me.
I realize that the fed is going to increase rates and home loan rates are going to go up. I see rates are a little over 3%. When they go up to 7% or more home values I expect will fall.
I hope they will but it may take a while for prices to settle.

Which company offered you such a high price? I'm selling my house and am interested

 

[bigt61]

Which company offered you such a high price? I'm selling my house and am interested

Just list it on the for sale by owner websites and price it higher than you think it will sell for

If you’re in a desirable area and people want it you’ll get above asking price

 

[davans]

There is no “ bubble “ to burst. The 2008 scenario is not in play. Rising Interest rates will flatten and soften the market but short of something catastrophic, I don’t see a dramatic decline in values anytime soon.

 

[spencer60]

Yup, exactly the opposite. In 2008 there were too many houses available for the people that could realistically own them.

Too many were being bought by folks who didn't have the resources to pay for them, fueled by the junk mortgages the CDO industry wanted so desperately.

This time the 'bubble' is really a shortage of supply, plain and simple.

 

[bigt61]

If we closed our borders and sent the illegals back to where they originated from,we would have plenty of housing and lower prices

 

[lostchild]

If we closed our borders and sent the yankees back to where they originated from,we would have plenty of housing and lower prices

Fixed