WELCOME TO RIVER DAVES PLACE

Daily Price Decreases on LH Property

Havasu Secret

Havasu Secret

Speed Alley 100MPH Club
Joined
Aug 20, 2013
Messages
92
Reaction score
124
Well it's finally happening. I am getting at least 8 to 10 emails a day from Zillow.com on price reductions from $10,000 and more on properties that are listed for sale in Lake Havasu. Resort towns like Lake Havasu, are the first to adjust down and soon this will spread to a city near us all. The ridiculous increases in property values over the last 5 years, are finally coming to an end. Hold out a bit if your are even thinking of buying and save yourself 10's of thousands of dollars. Now that's good reverse inflation !!!
 
rivermobster

rivermobster

Club Banned
Joined
Dec 28, 2009
Messages
59,539
Reaction score
60,107
Screenshot_20240105_144145_Chrome.jpg
 
RiverDave

RiverDave

In it to win it
Joined
Sep 13, 2007
Messages
126,299
Reaction score
164,744
Havasu Secret said:
Well it's finally happening. I am getting at least 8 to 10 emails a day from Zillow.com on price reductions from $10,000 and more on properties that are listed for sale in Lake Havasu. Resort towns like Lake Havasu, are the first to adjust down and soon this will spread to a city near us all. The ridiculous increases in property values over the last 5 years, are finally coming to an end. Hold out a bit if your are even thinking of buying and save yourself 10's of thousands of dollars. Now that's good reverse inflation !!!
Click to expand...

You also have to realize that a lot of people are listing them a tad over what they are worth in the hopes to catch the last bit of the craze..

For those all saying it’s gonna crash.. this is the pending land sales from yesterday..

Most of these will be new builds soon.

IMG_0686.jpeg
 
Havasu blue label

Havasu blue label

Well-Known Member
Joined
Nov 30, 2018
Messages
5,354
Reaction score
3,155
Havasu Secret said:
Well it's finally happening. I am getting at least 8 to 10 emails a day from Zillow.com on price reductions from $10,000 and more on properties that are listed for sale in Lake Havasu. Resort towns like Lake Havasu, are the first to adjust down and soon this will spread to a city near us all. The ridiculous increases in property values over the last 5 years, are finally coming to an end. Hold out a bit if your are even thinking of buying and save yourself 10's of thousands of dollars. Now that's good reverse inflation !!!
Click to expand...
Yes sir I had 3 offers out 6 months ago and there calling back . All equity is going away
 
Havasu blue label

Havasu blue label

Well-Known Member
Joined
Nov 30, 2018
Messages
5,354
Reaction score
3,155
RiverDave said:
To be 100% clear I hope the prices not only here but everywhere come down. I don’t see how normal people can afford a house anymore? The prices are crazy..

If we didn’t buy when we did we would be living in a much different house.

RD
Click to expand...
It’s crazy in California they priced out everything
 
HB2Havasu

HB2Havasu

Well-Known Member
Joined
Nov 4, 2015
Messages
4,523
Reaction score
9,955
RiverDave said:
To be 100% clear I hope the prices not only here but everywhere come down. I don’t see how normal people can afford a house anymore? The prices are crazy..

If we didn’t buy when we did we would be living in a much different house.

RD
Click to expand...
I have a feeling the Fed will drop rates in September causing a new Feeding Frenzy on housing. I hope you're right about pricing coming down!! $6,000 per month mortgages aren't sustainable! My dumpy house in OC is now approximately 1,200% over what we paid for it in 1996. (It has almost doubled in price since before Covid) Paychecks surely haven't kept pace with these rates of return!
 
mjc

mjc

Retired Neighbor
Joined
Jan 3, 2008
Messages
12,300
Reaction score
9,776
HB2Havasu said:
I have a feeling the Fed will drop rates in September causing a new Feeding Frenzy on housing. I hope you're right about pricing coming down!! $6,000 per month mortgages aren't sustainable! My dumpy house in OC is now approximately 1,200% over what we paid for it in 1996. (It has almost doubled in price since before Covid) Paychecks surely haven't kept pace with these rates of return!
Click to expand...
They will drop rates to make it look like FJB did something for the little people just before the election.
 
LuauLounge

LuauLounge

Well-Known Member
Joined
Jul 24, 2010
Messages
3,588
Reaction score
6,763
RiverDave said:
To be 100% clear I hope the prices not only here but everywhere come down. I don’t see how normal people can afford a house anymore? The prices are crazy..

If we didn’t buy when we did we would be living in a much different house.

RD
Click to expand...
That can be said just about anywhere and anytime.
If you buy and have to sell, you may get stung.
 
  • Like
Reactions: DWC
Englewood

Englewood

Well-Known Member
Joined
Jun 12, 2012
Messages
3,933
Reaction score
6,533
Havasu Secret said:
Well it's finally happening. I am getting at least 8 to 10 emails a day from Zillow.com on price reductions from $10,000 and more on properties that are listed for sale in Lake Havasu. Resort towns like Lake Havasu, are the first to adjust down and soon this will spread to a city near us all. The ridiculous increases in property values over the last 5 years, are finally coming to an end. Hold out a bit if your are even thinking of buying and save yourself 10's of thousands of dollars. Now that's good reverse inflation !!!
Click to expand...
You are suggesting someone continue to rent in an effort save "tens of thousands"? Have you done the math on that?
 
zhandfull

zhandfull

Well-Known Member
Joined
Apr 20, 2008
Messages
3,118
Reaction score
4,717
Havasu Secret said:
Well it's finally happening. I am getting at least 8 to 10 emails a day from Zillow.com on price reductions from $10,000 and more on properties that are listed for sale in Lake Havasu. Resort towns like Lake Havasu, are the first to adjust down and soon this will spread to a city near us all. The ridiculous increases in property values over the last 5 years, are finally coming to an end. Hold out a bit if your are even thinking of buying and save yourself 10's of thousands of dollars. Now that's good reverse inflation !!!
Click to expand...

I agree, have posted in another thread three or four house that have recently sold. All less than they sold for two or three years ago. Still a lot of room for prices to drop. Remember not everyone paid top dollar in the last four years.

Just make those disrespectful offers! All a seller can do is say no. If they say no, move on to a more motivated seller. I’m a firm believer if an offer doesn’t work out, that something better will come along.
 
D

DLC

Well-Known Member
Joined
Jan 18, 2013
Messages
10,974
Reaction score
16,471
Tonight on my way home from work

I was listening to am 640 Tim Conway show

He said that 41% of house holds in the Inland Empire are having difficulties paying for monthly essentials ….
 
DWC

DWC

Well-Known Member
Joined
Nov 9, 2012
Messages
12,576
Reaction score
27,955
Englewood said:
You are suggesting someone continue to rent in an effort save "tens of thousands"? Have you done the math on that?
Click to expand...
The math will “almost” never work out on waiting. I’d never do it on a primary residence. If you rent, real estate fees, moving expenses, you’d have to time it perfectly. Waiting on a vacation home could be worth depending on the person. I turned 57 this year. I wouldn’t give up a couple years of family memories to save a few bucks long term.
 
zhandfull

zhandfull

Well-Known Member
Joined
Apr 20, 2008
Messages
3,118
Reaction score
4,717
DLC said:
Tonight on my way home from work

I was listening to am 640 Tim Conway show

He said that 41% of house holds in the Inland Empire are having difficulties paying for monthly essentials ….
Click to expand...
I can relate. The scary part is I have very little debt. Can’t imagine having a large house payment, couple car payments, and credit cards rolling over monthly.
 
JFMFG

JFMFG

Well-Known Member
Joined
Aug 9, 2018
Messages
4,310
Reaction score
6,932
DLC said:
www.pressenterprise.com

Nearly half of Inland Empire struggles to pay bills

About a third had trouble paying an energy bill in the last year, according to a Census Bureau survey.
www.pressenterprise.com www.pressenterprise.com

quick Google

View attachment 1386315
Click to expand...
I can’t see that being right. Sunday we went to Ontario mills mall. I usually go for the volcolm store when I need new shorts they have good deals plus my kid loves the Lego store. That place is still packed people walking around with multiple bags. We all know there is quite a bit of rift raft there. If they’re able to still buy then I’m not worried yet. Unless that’s the state check kicking in it was early in the month come to think of it. 🤔
 
Kachina26

Kachina26

Inmate #RDP158
Joined
Sep 28, 2007
Messages
10,618
Reaction score
17,657
JFMFG said:
I can’t see that being right. Sunday we went to Ontario mills mall. I usually go for the volcolm store when I need new shorts they have good deals plus my kid loves the Lego store. That place is still packed people walking around with multiple bags. We all know there is quite a bit of rift raft there. If they’re able to still buy then I’m not worried yet. Unless that’s the state check kicking in it was early in the month come to think of it. 🤔
Click to expand...
Those with the inability to make good financial choices will always still be able to buy, it's their ability to pay that changes. I watch this kid Caleb Hammer on YouTube and the amount of idiots that try to justify why they needed the Dodge Charger with the $800 a month payment at 21% interest when they can't afford rent is unreal.
 
satellitemike

satellitemike

Well-Known Member
Joined
Oct 5, 2009
Messages
5,220
Reaction score
7,699
zhandfull said:
I agree, have posted in another thread three or four house that have recently sold. All less than they sold for two or three years ago. Still a lot of room for prices to drop. Remember not everyone paid top dollar in the last four years.

Just make those disrespectful offers! All a seller can do is say no. If they say no, move on to a more motivated seller. I’m a firm believer if an offer doesn’t work out, that something better will come along.
Click to expand...
This is a prime example of a "motivated" seller. Listed at 1M which is crazy in my simple mind but sold for 700K which I find a bit more reasonable.
The 3 D's are the only way to buy, Death, Divorce, or Dispare!
 
Wedgy

Wedgy

Well-Known Member
Joined
Jan 18, 2020
Messages
10,464
Reaction score
16,033
Ex sold the Escondido pad. Cleared $200K. Good for her.Ha!
If she only woulda waited a year. !°°!
Lol.
 
Kachina26

Kachina26

Inmate #RDP158
Joined
Sep 28, 2007
Messages
10,618
Reaction score
17,657
satellitemike said:
This is a prime example of a "motivated" seller. Listed at 1M which is crazy in my simple mind but sold for 700K which I find a bit more reasonable.
The 3 D's are the only way to buy, Death, Divorce, or Dispare!
Click to expand...
I wish I had Googled my seller's name before I put my offer in. After escrow closed I happened to google the owners and found Mr.'s mugshot from a prostitution arrest which apparently was about a month before the house went on the market. I think I could have knocked some more off of my offer. Live and learn.
 
badgas

badgas

Well-Known Member
Joined
Jul 30, 2020
Messages
1,743
Reaction score
3,490

For the Real Estate Drop in sales and price Naysayers HOLD ONTO YOUR HATS

JP Morgan Chase just announced a layoff of at least 1000 people and more to come due to the drastic drop in both housing purchases credited to CRAZY HOUSING MARKET slowing correcting and the doubling of interest rates..Redfin, Realtor.com did the same...YOU'VE seen Nothing YET.......if you...
www.riverdavesplace.com www.riverdavesplace.com

If you want to do you research on how to reply to this thread we have a nice cheat page for you all.
 
Sportin' Wood

Sportin' Wood

Well-Known Member
Joined
Sep 24, 2007
Messages
2,603
Reaction score
7,744
Kachina26 said:
I wish I had Googled my seller's name before I put my offer in. After escrow closed I happened to google the owners and found Mr.'s mugshot from a prostitution arrest which apparently was about a month before the house went on the market. I think I could have knocked some more off of my offer. Live and learn.
Click to expand...
I always investigate a seller, it gives me the tools I need to negotiate.
 
EarpRider

EarpRider

Well-Known Member
Joined
Dec 23, 2007
Messages
1,510
Reaction score
2,754
C-2

C-2

Well-Known Member
Joined
Sep 26, 2007
Messages
12,619
Reaction score
8,343
DRYHEAT said:
Could it be the 7% interest rates? 🤣
Click to expand...
We bought our house in 93 and had perfect credit, zero debt and 2 kick ass jobs and our rate was 8.5.

I wonder what the new rate cap will be for the next 15-20 years...can anybody guesstimate?
 
You must log in or register to reply here.
Top