And Havasu made the list.

[USCFAN]

Idaho cities top the list of most overvalued real estate markets — Axios

Idaho real estate prices continue to soar, with home prices in ’tater state cities topping the ranks of the country’s most-overvalued markets, according to Fitch Ratings.

apple.news

 

[Bpracing1127]

23% over valued, FL has the most places

 

[SummitKarl]

all red states, all Calexit targets. easy to happen when you can sell a 1500sqft 2bdr for 1.2m+ in Cali and have free equity money to burn, over pay, bidding wars who cares, now if they actually had to earn the money it would be a different story. almost none of us are quoting prices on new builds, it's cost + now days, whats the cost you ask..pfft we have no clue either LOL as it varies so much day to day or week to week

 

[2Driver]

Define overvalued.
If people are leaving a place that is losing jobs and quality of life and a different place is adding good jobs and has a great quality of life, then Im not sure it can be called over valued. It's just a market transition.

The true over value might be the homes in the place with the declining issues.

 

[LargeOrangeFont]

23% over valued, FL has the most places

So it will drop back to 2020 pricing that everyone said was too expensive? 23% isn’t even pre pandemic pricing that was supposed to collapse.

 

[TimeBandit]

Let's call it what it is. White Flight.

My workplace resembles the United Nations, none of these people want to live anyplace else other than a big city that supports their ethnic group with services unavailable in small town america. They need housing as do their children and new construction just ain't happening in a city that is already built out.. Supply and demand.

Or as one co-worker put it "I'm not moving to a tree-hanging state". LOL

 

[PaPaG]

Time will tell and if the feds increase more than a few times WATCH OUT HOME PRICES EVERYWHERE...I personally think that Most real estate is overpriced right now including anything we own, just like toys, boats, new and used cars, and up until recently the stock market.....corrections around the corner folks....JMO.

 

[Dirtbag]

Time will tell and if the feds increase more than a few times WATCH OUT HOME PRICES EVERYWHERE...I personally think that Most real estate is overpriced right now including anything we own, just like toys, boats, new and used cars, and up until recently the stock market.....corrections around the corner folks....JMO.

we are due a correction but how much. I think people are scared its gonna be 2008 again and thats just not the case. The people that have purchased housing in this market got amazing interest rates so while home prices will correct as interest rights climb there will not be a bubble to burst.

 

[ONE-A-DAY]

Everyone that looked at our house was from California and it was going to be there primary residence. Most all were cash buyers. The people that bought the house had 3.3 million in their Wells Fargo savings account, they had just sold their CA house for 2.1 million, so they never flinched at dropping 1.6 million on a Havasu house that was larger and nicer then the one they sold in CA. Their CA house sold in days and they had 9 offers, all over asking. Its mind boggling what house prices in Havasu have become but its not an issue for people coming from CA based on what they are accustomed to. It sucks if you live and work here though, people who work here for the most part cant afford to live here anymore.

 

[pronstar]

If the market determines value…and something is worth exactly what someone is willing to pay for it in a free and open market…I’m very curious how their algorithm determines what’s over-valued.

 

[DC-88]

Lil' sis' husband took a job in Portland about 10 years ago and they bought a nice house for $475K . They hated it there , and when a recent opportunity to move to Ca came up they listed it and she sent me the listing with a price of $879,000. I told her it looked great, but she said it was way more beat up from kids/ dog that it looked in the pics. It was pending in 2 days, and closed for $156 K over asking price in Portland

 

[c_land]

Its different this time, new normal. no relation whatsoever to pandemic stimulus and central bank manipulation

 

[DWC]

Its different this time, new normal. no relation whatsoever to pandemic stimulus and central bank manipulation

View attachment 1082875

You forgot to add record inflation/devalued dollar.

 

[c_land]

You forgot to add record inflation/devalued dollar.

They have inflation adjusted data too!

 

[RiverDave]

How come LOTO or other areas aren’t on this list?

You could buy houses out there for nothing two years ago.. now they are crazy money.

 

[SKIDMARC]

we are due a correction but how much. I think people are scared its gonna be 2008 again and thats just not the case. The people that have purchased housing in this market got amazing interest rates so while home prices will correct as interest rights climb there will not be a bubble to burst.

Correct, when the interest rates go up the value will adjust so you still have the same monthly payment. But I don't think and am hoping it doesn't adjust too much.

 

[SKIDMARC]

How come LOTO or other areas aren’t on this list?

You could buy houses out there for nothing two years ago.. now they are crazy money.

It might be because of the surrounding cities to LOTO. More work for the average joes. That's not really the case in Havasu. No real surrounding cities and not allot of job opportunities, its a vacation destination. When the majority of the people in the town cant afford to live there anymore that's when problems can start, you might see a mass exodus of the average person.

The people paying crazy money for the Havasu houses are not going to work at a grocery store, restaurant or retail. When there is no one to stock the shelves, make the tacos etc is when Havasu will see a big problem.

 

[Dalton]

when rates dropped is when things went absolutely stupid in Havasu. Kingman is affordable, but it was dirt cheap few years ago.

 

[RiverDave]

It might be because of the surrounding cities to LOTO. More work for the average joes. That's not really the case in Havasu. No real surrounding cities and not allot of job opportunities, its a vacation destination. When the majority of the people in the town cant afford to live there anymore that's when problems can start, you might see a mass exodus of the average person.

The people paying crazy money for the Havasu houses are not going to work at a grocery store, restaurant or retail. When there is no one to stock the shelves, make the tacos etc is when Havasu will see a big problem.

You ever been to LOTO?
What surrounding cities? It’s 3-4 hrs from anywhere same as Havasu

 

[done]

It might be because of the surrounding cities to LOTO. More work for the average joes. That's not really the case in Havasu. No real surrounding cities and not allot of job opportunities, its a vacation destination. When the majority of the people in the town cant afford to live there anymore that's when problems can start, you might see a mass exodus of the average person.

The people paying crazy money for the Havasu houses are not going to work at a grocery store, restaurant or retail. When there is no one to stock the shelves, make the tacos etc is when Havasu will see a big problem.

They will be driving in from needles for those Jobs.

 

[SKIDMARC]

You ever been to LOTO?
What surrounding cities? It’s 3-4 hrs from anywhere same as Havasu

I just looked at the map because I was curious. LOL LOTO looks way bigger than Havasu, maybe because of the size there are more homes that are more affordable for the average income, more jobs etc. Doesn't really seem like the case for Havasu, or at least that is what's being said. Below are the maps I compared. Doesn't really seem like apples to apples?

 

[LargeOrangeFont]

How come LOTO or other areas aren’t on this list?

You could buy houses out there for nothing two years ago.. now they are crazy money.

It does not border CA. All the people cashing out in CA that move to to Havasu do so to be adjacent to their lives/family/friends in CA.

Simply put the demand and volume is greater in Havasu.

 

[rmarion]

The Great reset coming around the corner.....

Obama in early 2000 (still on you tube).. preached..

Majority of the people are not SMART ENOUGH to own property....

search 2030....

if ya read between the lines...

over extend everyone (2008), pull the rug out, takeover Majority of the property...

aka Blackrock...

my tin foil hat is screwed on TIGHT... but its occurring in front of our eyes...

IMO, this is what its all about... COVID-19..

we need to be smarter than them... how... gotta figure it out....

it happened in Venezuela in the 80's..

now, back to your local channel...

just some OLD FART opinion....

 

[RogerThat99]

The Great reset coming around the corner.....

Obama in early 2000 (still on you tube).. preached..

Majority of the people are not SMART ENOUGH to own property....

search 2030....

if ya read between the lines...

over extend everyone (2008), pull the rug out, takeover Majority of the property...

aka Blackrock...

my tin foil hat is screwed on TIGHT... but its occurring in front of our eyes...

IMO, this is what its all about... COVID-19..

we need to be smarter than them... how... gotta figure it out....

it happened in Venezuela in the 80's..

now, back to your local channel...

just some OLD FART opinion....

Speaking of the Great Reset. 1 hour long, but worth the watch.

 

[DarkJuJu]

I just looked at the map because I was curious. LOL LOTO looks way bigger than Havasu, maybe because of the size there are more homes that are more affordable for the average income, more jobs etc. Doesn't really seem like the case for Havasu, or at least that is what's being said. Below are the maps I compared. Doesn't really seem like apples to apples?

You also have something like 5 of the fortune 500 companies (Walmart, Tyson, Dillards) headquartered in Bentonville Ak just a stone's throw from LOTO

 

[COCA COLA COWBOY]

This is true. Most are talking about a "Conservative Bubble" which will affect certain areas in the future where people that vacated California have gone to. The biggest reason is for an area to have the ability to support those new values when the scarcity of the real estate market diminishes in those areas. Most of those areas listed have no industry to support jobs/wages to maintain those new values/sales prices. In Boise, there is really only one micro chip plant for the area as an industry and then you have farming. I have a client that is from Boise and he provided a ton of insight for the area and stated most wages are minimum wage. The new residents are mostly retirees of fixed incomes and I know a few that started restaurants up there that failed due to COVID and are not looking to repeat after it ends.

People don't have to sell, but death, divorce and job transfers create the new comp's which will dictate values in the future when scarcity ends. Buyer's buy home based on approval, when interest rates increase, which they are, we will ultimately see values diminish to some extent. 2008, no, but we will see an adjustment. You can look back at 2018 and we did see a softened market prior to COVID. We also saw the stock market take a 17% hit when interests rates increased in 2018 (I was on a real estate conference call this morning which this fact brought and stat was brought up).

Seriously does anyone think that $500k big bear cabins, $700k entry level homes in Havasu and million dollar+ homes in the greater areas, used cars selling for more than new, etc. sustainable? I don't!

 

[LargeOrangeFont]

This is true. Most are talking about a "Conservative Bubble" which will affect certain areas in the future where people that vacated California have gone to. The biggest reason is for an area to have the ability to support those new values when the scarcity of the real estate market diminishes in those areas. Most of those areas listed have no industry to support jobs/wages to maintain those new values/sales prices. In Boise, there is really only one micro chip plant for the area as an industry and then you have farming. I have a client that is from Boise and he provided a ton of insight for the area and stated most wages are minimum wage. The new residents are mostly retirees of fixed incomes and I know a few that started restaurants up there that failed due to COVID and are not looking to repeat after it ends.

People don't have to sell, but death, divorce and job transfers create the new comp's which will dictate values in the future when scarcity ends. Buyer's buy home based on approval, when interest rates increase, which they are, we will ultimately see values diminish to some extent. 2008, no, but we will see an adjustment. You can look back at 2018 and we did see a softened market prior to COVID. We also saw the stock market take a 17% hit when interests rates increased in 2018 (I was on a real estate conference call this morning which this fact brought and stat was brought up).

Seriously does anyone think that $500k big bear cabins, $700k entry level homes in Havasu and million dollar+ homes in the greater areas, used cars selling for more than new, etc. sustainable? I don't!

Every you are saying is true. Some people think a softening is a crash.

Entry level homes are not $700k in Havasu however, they are about $400k

 

[Gonefishin5555]

With high inflation things won't crash more like sputter. A 700K home has to be worth 735-40 K in year to be "worth the same" as a year ago. Partly what spurred on the price spike was super low rates compared to the rate of inflation. 2.5% interest and 5% inflation is really a negative interest rates so hell yeah borrow all you can at a low fixed rate against an asset whose price increases are largely tied into inflation. Its a slam dunk winning recipe, I own my vacation home for what is effectively a monthly car payment amount. Right now I am paying for a mercedes but in several years it will more like a corolla payment

 

[COCA COLA COWBOY]

Every you are saying is true. Some people think a softening is a crash.

Entry level homes are not $700k in Havasu however, they are about $400

Sorry, just saw a social media post from a realtor in Havasu of the cheapest home with an RV garage and it was $699k so I took that example.

On a side note, I was just pulling rental comp's for a client and pushed the area to Temecula/Murrieta. This must be the first time in 13 years where there are more homes for lease in Temecula than for sale. I also worked the numbers, and it's probably the first time that you can rent cheaper than you can buy in that area. The same isn't true for San Diego areas as we just don't have hardly any rentals and if there is something it's at least $5400/month. However, you can rent nice homes in Temecula for $2700-3000! I can't believe it!

 

[Dalton]

I would think because all the people that passed away from Covid there would be excess housing.

 

[Jim]

With high inflation things won't crash more like sputter. A 700K home has to be worth 735-40 K in year to be "worth the same" as a year ago. Partly what spurred on the price spike was super low rates compared to the rate of inflation. 2.5% interest and 5% inflation is really a negative interest rates so hell yeah borrow all you can at a low fixed rate against an asset whose price increases are largely tied into inflation. Its a slam dunk winning recipe, I own my vacation home for what is effectively a monthly car payment amount. Right now I am paying for a mercedes but in several years it will more like a corolla payment

Agreed. Fla. price most likely wont come down, but stop increasing at an alarming rate. Baby boomers are the largest age demographic in the country. they're all retiring and moving south. till that trend eases off in 10-15 years as they/we, start dying off, the demand will be there. Then their kids or grandkids will want to sell the property, cash out quick.... then the prices get competitive. But thats years away. Wont be my problem by then.

 

[RiverDave]

It does not border CA. All the people cashing out in CA that move to to Havasu do so to be adjacent to their lives/family/friends in CA.

Simply put the demand and volume is greater in Havasu.

Well that’s why I was saying why isn’t loto on there? We border CA..

LOTO is in the middle Of nowhere.. literally.

Their property values went up same as ours (2x3 times).. but their closest cities are St. Louis and Kansas City.. both are

RD

 

[MSum661]

This is how I see this whole FED induced artificial shit show.

The FED has been acting like an "Arsonist" since March of 2020 when they started their large-scale purchases of U.S. treasuries and agency mortgage-backed securities at a rate of approx. $580 Billion at the start of March 2020 and then continued on with their MBS purchases straight through at a rate of about $114 billion per month since then. So we're talking about an FED liquidity injection of roughly $2 Trillion+ in mortgage back securities and treasuries under the guise of creating what they called "accommodation" and to sought "calmness" as a response to what they claimed could be "significant financial market disruption at the onset of the COVID-19". Money that wasn't there before COVID but also money that is still there now.....BUT, not for very long. Think, in a nut shell, FED induced unintended Inflation across the board swimming in just about every financial sector of the economy as a result of the FEDs emergency response due to COVID by injecting cash....which will always be up for debate by many. I myself believe they didn't need to it for several reasons but Politics will always prevail.

So now, This same "Arsonist" has decided that he wants to become a "Fireman"..... and attempt to put out this out of control inferno by attempting to reel back in all that injected liquidity by the process of tapering, and wants to complete the taper process by March of 2022. That is Lightning speed. And thats where the rubber hits the road. The FED would probably raise rates starting tomorrow morning if they could to help try to put out the fire, but they can't....they barely just started unloading their balance sheet of $2 Trillion and that balance sheet is where their debt overhang sits and is a balance they want off their books yesterday. WHY??......I really like to hear what they would say about that only if they were being honest about it....lol. The Debt they hold is a higher priority to rid themselves of it than raising rates to slow our runaway inflation.....and thats what we call a FED that is "Boxed in". In the meantime, the Country is full of new homeowners in every state that have no idea why their homes appreciated 65% in the middle of a year and a half Pandemic....no idea whatsoever. They just see Zillow Zestimates and then believe they're financial Guru's.

I could care less about people and their real estate values, up or down....I've always been a homeowner and always will be, but I do have much larger concerns about how this FED will get their stupid asses out of this mess they created and not Fuck it up. I seriously doubt they will get it right. Its a giant mess. jmo

​

 

[LargeOrangeFont]

Well that’s why I was saying why isn’t loto on there? We border CA..

LOTO is in the middle Of nowhere.. literally.

Their property values went up same as ours (2x3 times).. but their closest cities are St. Louis and Kansas City.. both are

RD

You just answered yore own question Many places went up that much, but they will compile the list of “The top 10” off volume and demand.

There are many places in UT that have done the same.. again not on the list. Maybe LOTO and places in UT would have made the top 20? They have got to be right there.

 

[LargeOrangeFont]

This is how I see this whole FED induced artificial shit show.

The FED has been acting like an "Arsonist" since March of 2020 when they started their large-scale purchases of U.S. treasuries and agency mortgage-backed securities at a rate of approx. $580 Billion at the start of March 2020 and then continued on with their MBS purchases straight through at a rate of about $114 billion per month since then. So we're talking about an FED liquidity injection of roughly $2 Trillion+ in mortgage back securities and treasuries under the guise of creating what they called "accommodation" and to sought "calmness" as a response to what they claimed could be "significant financial market disruption at the onset of the COVID-19". Money that wasn't there before COVID but also money that is still there now.....BUT, not for very long. Think, in a nut shell, FED induced unintended Inflation across the board swimming in just about every financial sector of the economy as a result of the FEDs emergency response due to COVID by injecting cash....which will always be up for debate by many. I myself believe they didn't need to it for several reasons but Politics will always prevail.

So now, This same "Arsonist" has decided that he wants to become a "Fireman"..... and attempt to put out this out of control inferno by attempting to reel back in all that injected liquidity by the process of tapering, and wants to complete the taper process by March of 2022. That is Lightning speed. And thats where the rubber hits the road. The FED would probably raise rates starting tomorrow morning if they could to help try to put out the fire, but they can't....they barely just started unloading their balance sheet of $2 Trillion and that balance sheet is where their debt overhang sits and is a balance they want off their books yesterday. WHY??......I really like to hear what they would say about that only if they were being honest about it....lol. The Debt they hold is a higher priority to rid themselves of it than raising rates to slow our runaway inflation.....and thats what we call a FED that is "Boxed in". In the meantime, the Country is full of new homeowners in every state that have no idea why their homes appreciated 65% in the middle of a year and a half Pandemic....no idea whatsoever. They just see Zillow Zestimates and then believe they're financial Guru's.

I could care less about people and their real estate values, up or down....I've always been a homeowner and always will be, but I do have much larger concerns about how this FED will get their stupid asses out of this mess they created and not Fuck it up. I seriously doubt they will get it right. Its a giant mess. jmo

​

So you are saying we are watching Backdraft?

 

[MSum661]

So you are saying we are watching Backdraft?

I just backdrafted some Taco Bell.

 

[bentprops]

Havasu and Prescott AZ made the list in 2019. let that sink in.

 

[Orange Juice]

How come LOTO or other areas aren’t on this list?

You could buy houses out there for nothing two years ago.. now they are crazy money.

I think it might have to do with jobs and pay scale. Affordability.

 

[LargeOrangeFont]

Havasu and Prescott AZ made the list in 2019. let that sink in.

For the same reasons, people fleeing CA.

Recall the Havasu housing market “couldn’t get any higher”.

 

[Havasu blue label]

It’s havasu the 3 day city for us since the eighties . When the dairy farmers sold the land in chino ca and invested in havasu it went wild and today and next 6 months there thinking hard

 

[LargeOrangeFont]

It’s havasu the 3 day city for us since the eighties . When the dairy farmers sold the land in chino ca and invested in havasu it went wild and today and next 6 months there thinking hard

Hitting the sauce early this evening I see

Prty on Girth!

 

[Havasu blue label]

It’s reality

 

[ONE-A-DAY]

It might be because of the surrounding cities to LOTO. More work for the average joes. That's not really the case in Havasu. No real surrounding cities and not allot of job opportunities, its a vacation destination. When the majority of the people in the town cant afford to live there anymore that's when problems can start, you might see a mass exodus of the average person.

The people paying crazy money for the Havasu houses are not going to work at a grocery store, restaurant or retail. When there is no one to stock the shelves, make the tacos etc is when Havasu will see a big problem.

Couple of examples the Havasu wages, a rookie firefighter is $16 an hour, registers nurse $23. A fire captains salary in Havasu is less than the starting salary for a LA City FD person. On the nursing part, a new nurse gets 2 years of experience that they need to get hired on elsewhere and they leave to Kingman, Phoenix etc or be traveling nurses. My wife was just offered $8500 a week to take a two month RN assignment in northern cal. Her feeling is that with Covid drama and nurse staffing shortages the patient to nurse ratios are through the roof, they cant pay her enough to come out of retirement.

 

[Havasu blue label]

Very true

 

[rmarion]

Telegram: Contact @TheVoiceOfQ

t.me

 

[SKIDMARC]

Couple of examples the Havasu wages, a rookie firefighter is $16 an hour, registers nurse $23. A fire captains salary in Havasu is less than the starting salary for a LA City FD person. On the nursing part, a new nurse gets 2 years of experience that they need to get hired on elsewhere and they leave to Kingman, Phoenix etc or be traveling nurses. My wife was just offered $8500 a week to take a two month RN assignment in northern cal. Her feeling is that with Covid drama and nurse staffing shortages the patient to nurse ratios are through the roof, they cant pay her enough to come out of retirement.

Totally true. Thinking back 15 years ago I thought about going to nursing school. Man would that have paid off now!

 

[FishSniper]

All I can say is do I wish I had bought in Havasu when I moved the boat there in 2015 yes but at that time wasn’t in the cards. Am I glad I bought in 2019 instead of listening to these same doom and gloom predictions ? Hell yes. Is the market going to somewhat correct at some point ? Yup but u buy when u can. Glad we have a cushion now but if we didn’t oh well u enjoy having/ using the second home out of shitty CA.