Real Estate Market. Thoughts?

[Dave_L]

Homes under $400k are still the "hot spot".

[BigDee]

Do not Buy in a sellers market and do not sell in a buyers market.

We're in a sellers market right now, take my advice and thank me in 3 or 4 years.


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[kawiracer14]

Do not Buy in a sellers market and do not sell in a buyers market.

We're in a sellers market right now, take my advice and thank me in 3 or 4 years.


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What should I do when it's still a Sellers Market in 3 or 4 years?

[Grant H.]

Do not Buy in a sellers market and do not sell in a buyers market.

We're in a sellers market right now, take my advice and thank me in 3 or 4 years.


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In theory what you are saying makes sense. In practice, it will never work as well as you might hope it will.

Especially considering current interest rates, and what rent is currently, buying now isn't a bad idea. Especially not since the interest rates are going to have to rise, and probably sky rocket when they do rise. Locking something in the 2-3% range will save a ton of money over waiting and buying a house when interest rates are likely back in the 5-10% range.

[MarkCO]

The problem is that sure you can sell at your inflated price and make some cash but you then still need to buy a new place which will be at an equally if not more inflated price.. Are you still making money when you look 10, 15, 20, 30 years down the road?

Agree, and unless you change markets, like move somewhere else, the net effect will be a loss, not a gain just switching houses in a hot market.

[Great-Kazoo]

Do not Buy in a sellers market and do not sell in a buyers market.

We're in a sellers market right now, take my advice and thank me in 3 or 4 years.


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Sound advice, in normal markets. However the population is expected to increase along the front range another 2-3 million by 2020. Being from NY (SURPRISE) Our place went for $70K, 30+ yrs ago. The second owners sold it for $200 K 15 yrs ago. Same house now sits @ just under $500K FIVE HUNDRED THOUSAND for an 800 sq ft home Keeping in mind the only place to build in that part of the tri-state area is UP. There's no land available. So prices keep climbing.

Here in CO. I see the same thing. Yes there's land. BUT............................ The demand has outpaced the availability of homes. If there's a demand take their money. Granted the ceiling has to be reached sooner or later.

OR that false economy bubble will break. When it does. Oh well might as roll another joint. Cause they're the only ones with cash.

What should I do when it's still a Sellers Market in 3 or 4 years?

make more profit.

[Dave_L]

Even if the bubbles pops, you just have to be able to hold it a little longer. I bet people today would love to pay the prices from the 06/07 bubble.

[BigDee]

I lived in Kalifornia in 2005. I remember people saying that if you couldn't afford a home at that time you better buy because you'll never be able to afford to buy if you wait.. That theory worked out well considering everyone I knew who bought between 05-07 was in foreclosure after 08.

You can read all the articles and speculators points that are intended to do one thing and one thing alone, drive prices up and bring buyers in. Or... You can understand that real estate is cyclical.

Rent prices are not bad considering the cost to rent something is actually Lower than the mortgage payment would be if you bought the same place right now. If you look at cost of ownership

I don't buy in to 10% interest rates. The government has actually been playing with negative interest rates and some countries are already using them. 5% maybe 6% is likely going to be the cap on interest rates going up, the market will take a shit and we'll see historically low interest rates again.

It's all cyclical. You don't need a crystal ball, you just need to look at history and you can tell what will happen in the future.


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[Dave_L]

The problem with that last bubble was sub prime loans and balloning ARM loans. If you get a quality loan, you shouldn't be in foreclosure a year later just because the market tanks (unless something was forcing you to move and sell).

Also, rent prices are not cheaper than buying. Single family homes in my area are 2200+ per month for a 3 bedroom basic home. Apartments range from $1200 for a 700 sq foot one bedroom to $1900 for a 1300 sq foot 3 bedroom. Oh yeah, and that doesn't include a garage.

[Wulf202]

I lived in Kalifornia in 2005. I remember people saying that if you couldn't afford a home at that time you better buy because you'll never be able to afford to buy if you wait.. That theory worked out well considering everyone I knew who bought between 05-07 was in foreclosure after 08.

You can read all the articles and speculators points that are intended to do one thing and one thing alone, drive prices up and bring buyers in. Or... You can understand that real estate is cyclical.

Rent prices are not bad considering the cost to rent something is actually Lower than the mortgage payment would be if you bought the same place right now. If you look at cost of ownership

I don't buy in to 10% interest rates. The government has actually been playing with negative interest rates and some countries are already using them. 5% maybe 6% is likely going to be the cap on interest rates going up, the market will take a shit and we'll see historically low interest rates again.

It's all cyclical. You don't need a crystal ball, you just need to look at history and you can tell what will happen in the future.


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I disagree with most every opinion on real estate you just expressed.