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

[Cray Paper]

I bought my current home in 2019 for just under 600K, as of today per Zillow its worth about 900k. 2 years ago my next door neighbor sold his much smaller home for 1.2m+ and our larger home was valued at 1.4m. Buy in the right area at the right price, maintain and or upgrade and trust that it will appreciate in value, that's been my dumb carpenter perspective and it has worked out well for me. Factoring in paying off EX wives has been my Achilles heel though but am still in the plus category. Buy right and you will make out alright.

 

[Englewood]

I like Ramsay’s teaching, although I only subscribed to about 90% of his method to reach the same end game. He’s got 100s of millions in real estate all debt/mortgage free so there that!

He has hundreds of millions in real estate from selling his middle-school level courses at Churches to broke people and earns $30m/yr from it.

I’ve never met a highly successful person who lives by his guidance. All I ever see is someone with a paid off 96 Civic talking about how debt it bad for you.

 

[DWC]

Things must be coming back, this just listed right across the street from me

1571 Kirk Dr Lake Havasu City AZ | Zillow

www.zillow.com

I was surprised it went up for sale. They didn’t have a sign up until it was done.

 

[DUNEFLYER]

Talked to the builder early on, it was always going to be a spec house. He put up a sign and had a realtor caravan thru there a month or so ago. Guess they made him take down the sign, some rule about house having to be completed within a couple of weeks of it going on the MLS and putting up a sign. At the time he was a couple months from being complete.
Hope he gets somewhere close to asking. Suppose it doesn’t really matter, I will never sell, my kids will have to deal with that.

 

[ChumpChange]

He has hundreds of millions in real estate from selling his middle-school level courses at Churches to broke people and earns $30m/yr from it.

I’ve never met a highly successful person who lives by his guidance. All I ever see is someone with a paid off 96 Civic talking about how debt it bad for you.

I’ve met many W2 employees who have benefited greatly from the program. It does benefit a specific audience.

I’ve taught plenty of classes for Junior Achievement and other non profit financial literacy organizations and it’s sad what is coming out of high schools. In the poor neighborhoods, kids don’t know a thing and their parents aren’t in a position to teach them.

 

[LuauLounge]

Don’t spend more than you make…..That will be $30.
Thank you
Next weeks advanced course will be convincing your wife not to spend more than you make.

 

[Orange Juice]

Let’s say you owe around 380k for your home. You get a million dollars. Would you pay off the house a remodel bathrooms and kitchens and make it everything you want or invest the money somewhere else. Maybe remodel but don’t pay it off. What are everyone’s thoughts on this? I think we could pat off the house and Remodel and still have extra but this is more just for conversation and ideas

I like a paid-off house. Take the rest and invest. Wait until your kids are out of the house and through college, before doing any big remodel. Use investment money to educate your kids.

 

[Orange Juice]

2.8 but that’s what I’ve heard and it confuses me. Could you explain why if you have some time? I’m not being a smart ass this is a pretty real scenario so I’m really trying to educate myself

You'll have enough worries paying your property taxes in retirement. And staying up with the Jones buying new cars with cash. You'll have some extra cash to help your kids get started in life, if you get your stuff out of the way.

Same guys telling you to not pay it off, are the same guys telling you to refinance and pull cash out to remodel.

 

[shintoooo]

Economic Developments - January 2024 | Fannie Mae

For a PDF version of this report, click here.

www.fanniemae.com

 

[CarolynandBob]

I like a paid-off house. Take the rest and invest. Wait until your kids are out of the house and through college, before doing any big remodel. Use investment money to educate your kids.

I like paid off as well. When I paid mine off I took the mortgage payment money and put it in savings. I know it is boring, but you never know what later in life is going to throw at you.

 

[LargeOrangeFont]

View attachment 1323804

Economic Developments - January 2024 | Fannie Mae

For a PDF version of this report, click here.

www.fanniemae.com

Real estate doomsdayers hold on to your hats.

 

[badgas]

He has hundreds of millions in real estate from selling his middle-school level courses at Churches to broke people and earns $30m/yr from it.

I’ve never met a highly successful person who lives by his guidance. All I ever see is someone with a paid off 96 Civic talking about how debt it bad for you.

His biggest gains were from buying large chunks of real estate during the crash. I have led his class 8 times now I and I can tell you the life change for these people goes way beyond what people think from the outside. When I have people that come back and the consumer debt is gone and they now own homes and take nice vacations and can be charitable etc. for them it was well worth it.

Like @mesquito_creek said I also don't live 100% buy his plan.

I don't know what the guidelines for " highly successful " are ? I know several who are debt free in the 3-12 million net worth range most of them under 50 years old in the 5 million range. They are content and live well, to them they are doing things right.

I know a couple people in the 15-20 million net worth who live by his plan without knowing it

The funniest thing about the Ramsey plan is everybody sits there from the outside saying ohh it's so stupid live on less than you make so you can invest for retirement yet 80% of Americans don't do that and they spend everything they have on depreciating crap and toys and then they have no money. I know that doesn't happen here at RDP everybody here is a multi millionaire who makes $700,000 minimum per year.

I have one who's getting ready to pull the plug at 50 and start traveling doing mini retirements etc. he's worth about 12 million. in my opinion he's much more successful than somebody who wants to stay working until they're 70 and be worth 40 million. To me he's going to live a much more joyful life but then again I don't get to choose maybe somebody wants to work till they're 80 and have all kinds of fancy nuanced loans all over the place maybe that's what works for them and that's the beauty of it everybody gets to choose their own path.

 

[PaPaG]

All I can say is having no debt gives a sense of freedom that puts a smile on a persons face. I look at it this way, would I rather pay 4-5% on 500-1mil home loan, 3-4% on a 50k car loan, 11-18% on CC debt, and let others make money off my hard work OR work my ass off and pay off all debt and have a debt free life and use all that money spent on interest investing it in the market or real estate. An average person can easily make 5-12% in the market if done correctly, some can make 20-25% or more on their money if they take the time and educate themselves in the market and on each and every stock they invest in and never follow the hype. I have friends that are in debt up to their ears and are Happy, I have others that have No debt and are Real Happy, to each their own is my opinion, what ever floats your boat

 

[hallett21]

I wonder if lending institutions will begin trying to incentivize people to get out of their sub 3% loans.

When you see how much more interest you pay at 6% vs 2-3% there’s a lot of money to be made for a bank.

Will we see “zero costs” plus they’ll throw you 20-30k to Refi? Obviously that would be a terrible idea for most people, but I have to imagine the banks are thinking of ways to make it happen.

 

[Orange Juice]

I wonder if lending institutions will begin trying to incentivize people to get out of their sub 3% loans.

When you see how much more interest you pay at 6% vs 2-3% there’s a lot of money to be made for a bank.

Will we see “zero costs” plus they’ll throw you 20-30k to Refi? Obviously that would be a terrible idea for most people, but I have to imagine the banks are thinking of ways to make it happen.

At some point, the refi, cash out equity push, reverse mortgages will be a hit.

 

[prorider]

Talked to the builder early on, it was always going to be a spec house. He put up a sign and had a realtor caravan thru there a month or so ago. Guess they made him take down the sign, some rule about house having to be completed within a couple of weeks of it going on the MLS and putting up a sign. At the time he was a couple months from being complete.
Hope he gets somewhere close to asking. Suppose it doesn’t really matter, I will never sell, my kids will have to deal with that.

He’s not getting anywhere near asking price for that. Price is laughable.

 

[hallett21]

He’s not getting anywhere near asking price for that. Price is laughable.

Bet locked in lol

 

[hallett21]

He’s not getting anywhere near asking price for that. Price is laughable.

Here’s a few that sold within 6 months that are over 2 million.

2045 Eagle Dr, Lake Havasu City, AZ 86406 | Zillow

2045 Eagle Dr, Lake Havasu City AZ, is a Single Family home that contains 3408 sq ft and was built in 2023.It contains 4 bedrooms and 5 bathrooms.This home last sold for $2,800,000 in January 2024. The Zestimate for this Single Family is $2,801,600, which has decreased by $96,248 in the last...

www.zillow.com

3021 Circula De Hacienda, Lake Havasu City, AZ 86406 | Zillow

3021 Circula De Hacienda, Lake Havasu City AZ, is a Single Family home that contains 3619 sq ft and was built in 2015.It contains 4 bedrooms and 5 bathrooms.This home last sold for $2,100,000 in January 2024. The Zestimate for this Single Family is $2,101,100, which has decreased by $228,435...

www.zillow.com

1931 E Deacon Dr, Lake Havasu City, AZ 86404 | Zillow

1931 E Deacon Dr, Lake Havasu City AZ, is a Single Family home that contains 4958 sq ft and was built in 2022.It contains 4 bedrooms and 5 bathrooms.This home last sold for $3,700,000 in November 2023. The Zestimate for this Single Family is $3,761,600, which has increased by $44,606 in the...

www.zillow.com

1650 Sailing Hawk Dr #111, Lake Havasu City, AZ 86404 | Zillow

1650 Sailing Hawk Dr #111, Lake Havasu City AZ, is a Single Family home that contains 3771 sq ft and was built in 2023.It contains 4 bedrooms and 5 bathrooms.This home last sold for $2,570,000 in October 2023. The Rent Zestimate for this Single Family is $6,863/mo, which has increased by...

www.zillow.com

804 Isola Bella Loop, Lake Havasu City, AZ 86403 | Zillow

804 Isola Bella Loop, Lake Havasu City AZ, is a Single Family home that contains 4098 sq ft and was built in 2023.It contains 4 bedrooms and 6 bathrooms.This home last sold for $3,350,000 in October 2023. The Rent Zestimate for this Single Family is $3,851/mo, which has decreased by $52/mo in...

www.zillow.com

852 Isola Bella Loop, Lake Havasu City, AZ 86403 | Zillow

852 Isola Bella Loop, Lake Havasu City AZ, is a Single Family home that contains 3392 sq ft and was built in 2022.It contains 4 bedrooms and 5 bathrooms.This home last sold for $2,500,000 in September 2023. The Rent Zestimate for this Single Family is $3,851/mo, which has decreased by $158/mo...

www.zillow.com

 

[Tamalewagon]

I like a paid-off house. Take the rest and invest. Wait until your kids are out of the house and through college, before doing any big remodel. Use investment money to educate your kids.

Delayed gratification is difficult at best. We want what we want and we want it now as the old saying goes. We live by the delayed gratification motto and I'm not sorry one bit. We are struggling a little financially, have older cars, house is in need of updating etc. but kids are well educated with one graduating college, one in college and one highschool senior. We can finally see light at the end of the tunnel.

 

[RiverDave]

Well for those that held on to their hats.. I can't help but wonder if your arms are tired yet. Real Estate is picking back up dramatically in Havasu again. While the prices "dipped" it never crashed.. and now everyone is projecting that it's gonna go up even further.

I can say that my friends that own motorhome dealerships have seen huge drops in sales.. Boats seem to be very slow as well right now, but it is winter.

RD

 

[mesquito_creek]

Delayed gratification is difficult at best. We want what we want and we want it now as the old saying goes. We live by the delayed gratification motto and I'm not sorry one bit. We are struggling a little financially, have older cars, house is in need of updating etc. but kids are well educated with one graduating college, one in college and one highschool senior. We can finally see light at the end of the tunnel.

If you wait long enough on house updating it will come back in style, that’s my plan! Come on travertine and real wood grain knotty alder cabinets!

 

[boatnam2]

Hard to believe 300-400 bucks sways peoples to to now buy a house but i guess it does.

 

[Sportin' Wood]

If you wait long enough on house updating it will come back in style, that’s my plan! Come on travertine and real wood grain knotty alder cabinets!

I like Travertine and Knotty Alder. Gray sucks—sad gray colors for sad gray people.

 

[EmpirE231]

I find it hard to believe that real estate prices will rally again. I can see sales going up / more closings when rates drop.

Most of the guys I know that are ready to gobble up more real estate do not care what the rate is.... they are mostly cash buyers. I think the funny money is all dried up, inflation was not "transitory" and here to stay... I think that will help keep the real estate prices in line, and not skyrocket again.

 

[Havasu blue label]

Well for those that held on to their hats.. I can't help but wonder if your arms are tired yet. Real Estate is picking back up dramatically in Havasu again. While the prices "dipped" it never crashed.. and now everyone is projecting that it's gonna go up even further.

I can say that my friends that own motorhome dealerships have seen huge drops in sales.. Boats seem to be very slow as well right now, but it is winter.

RD

That’s fantastic

 

[PaPaG]

Well for those that held on to their hats.. I can't help but wonder if your arms are tired yet. Real Estate is picking back up dramatically in Havasu again. While the prices "dipped" it never crashed.. and now everyone is projecting that it's gonna go up even further.

I can say that my friends that own motorhome dealerships have seen huge drops in sales.. Boats seem to be very slow as well right now, but it is winter.

RD

Not me, arms are doing nicely. I made bank on all my properties that sold and yes I left a bit on the table at the time but not much at all, as of TODAY every single property I sold in highly sought after areas of Vegas, Boulder City, Tahoe and Cali have stayed stagnant or have gone down in value just a little bit from the amounts I sold them for. I also invested all the dough in the market and have done at least 10x what would have been made if I kept the properties and kept collecting rents and appreciations so I guess I should change my answer to YES they are tired of counting the gains. Quick question, have you seen stats on our country having the highest debt default in over 10 years? or highest credit card debt in the history of the country as SO MANY people keep living off their credit cards while heading for default claiming BK? I know I know Havi is booming again, Cali or some parts are booming but check out the rest of the country outside of the few hotspots and where we are today compared to where we were 2 years ago. I have been looking at properties for a 2nd place in Texas for the last year, every single property 5 to 50 acres have dropped in price a very nice amount and still going down. These properties are about an hour up to two hours outside of Dallas and Houston not far from a few different lakes. Just wondering.....

 

[Havasu blue label]

Not me, arms are doing nicely. I made bank on all my properties that sold and yes I left a bit on the table at the time but not much at all, as of TODAY every single property I sold in highly sought after areas of Vegas, Boulder City, Tahoe and Cali have stayed stagnant or have gone down in value just a little bit from the amounts I sold them for. I also invested all the dough in the market and have done at least 10x what would have been made if I kept the properties and kept collecting rents and appreciations so I guess I should change my answer to YES they are tired of counting the gains. Quick question, have you seen stats on our country having the highest debt default in over 10 years? or highest credit card debt in the history of the country as SO MANY people keep living off their credit cards while heading for default claiming BK? I know I know Havi is booming again, Cali or some parts are booming but check out the rest of the country outside of the few hotspots and where we are today compared to where we were 2 years ago. I have been looking at properties for a 2nd place in Texas for the last year, every single property 5 to 50 acres have dropped in price a very nice amount and still going down. These properties are about an hour up to two hours outside of Dallas and Houston not far from a few different lakes. Just wondering.....

What do you think of farmersvile Texas

 

[PaPaG]

What do you think of farmersvile Texas

Have no info on Farmersville, Easy drive to Dallas, far enough away to keep the big city activity someone a distance, lavon lake looks nice, not sure about prices, crime, etc. I just looked and a few places for sale have price drops of 200K-600k in less than 1 year but still up BIG TIME from the first part of 2020 to the first part of 23. https://www.zillow.com/homedetails/4412-County-Road-551-Farmersville-TX-75442/83761503_zpid/
This house was estimated value at 1.1 mil in 2020 to mid 2023, then shot up to 3.2 mil CRAZY increase, a joke if you ask me. Now less than 6 months later down 600k, realtor pulled one over on them to get the listing in my opinion giving them unrealistic asking prices to get the listing. I am guessing the price goes down to 1.8 mil or less then it may sell. Way toooo big to retire in, just thinking of the taxes would make a retiree go back to work...lol.

Price history​

Date	Event	Price
1/2/2024	Price change	$2,600,000-8%$502/sqft
Source: NTREIS #20467005 Report a problem
11/2/2023	Price change	$2,825,000-11.7%$546/sqft
Source: NTREIS #20467005 Report a problem
5/25/2023	Listed for sale	$3,200,000$618/sqft
Source: NTREIS #20328452 Report a problem

 

[DC-88]

Have no info on Farmersville, Easy drive to Dallas, far enough away to keep the big city activity someone a distance, lavon lake looks nice, not sure about prices, crime, etc. I just looked and a few places for sale have price drops of 200K-600k in less than 1 year but still up BIG TIME from the first part of 2020 to the first part of 23. https://www.zillow.com/homedetails/4412-County-Road-551-Farmersville-TX-75442/83761503_zpid/
This house was estimated value at 1.1 mil in 2020 to mid 2023, then shot up to 3.2 mil CRAZY increase, a joke if you ask me. Now less than 6 months later down 600k, realtor pulled one over on them to get the listing in my opinion giving them unrealistic asking prices to get the listing. I am guessing the price goes down to 1.8 mil or less then it may sell. Way toooo big to retire in, just thinking of the taxes would make a retiree go back to work...lol.

Price history​

Date	Event	Price
1/2/2024	Price change	$2,600,000-8%$502/sqft
Source: NTREIS #20467005 Report a problem
11/2/2023	Price change	$2,825,000-11.7%$546/sqft
Source: NTREIS #20467005 Report a problem
5/25/2023	Listed for sale	$3,200,000$618/sqft
Source: NTREIS #20328452 Report a problem

My good long time buddy and special woodworking/ radius stair sub built a house across the street from Lake Lavon a few years ago. He left Pismo Beach on a fuck California / cashing out moment and ended up having to borrow another 150k just to finish the new house the way he wanted. It's a pretty nice area, and his in-laws are there, plus his semi-retirement job he committed to. He joined the hunting club where you pay a grip each year to shoot deer when the feeder alarm goes off, and is making the best of it.
Now he's doing side work to pay his triple sized property taxes including driving all the way back to Cen Cal to work on some of my projects as needed. I don't need to keep him posted because he jams me up for months in advance of each one as it's an excuse to get out of the heavy traffic, humidity, heat, and cold. He doesn't totally hate it there, but would move back or elsewhere if he could. He sent me a ring video which I can't post on here about a year ago of a shirtless tweaker in Nike Air Monarchs and jean shorts pounding on his door at 1 am, and then slowly backing away with hands up saying " drop the gun big man and lets go " as he was popping off rounds at the guy's feet in his front yard , so the grass really isn't always all that greener. I bet the population of our entire County in Cali is a fraction of the population within a pretty small radius of his house.

 

[zhandfull]

Well for those that held on to their hats.. I can't help but wonder if your arms are tired yet. Real Estate is picking back up dramatically in Havasu again. While the prices "dipped" it never crashed.. and now everyone is projecting that it's gonna go up even further.

I can say that my friends that own motorhome dealerships have seen huge drops in sales.. Boats seem to be very slow as well right now, but it is winter.

RD

I saw a home bought with Team RDP on Zillow recently too. It was purchased under listing price by a good 3-4% if I remember correctly.

When this thread started you couldn’t hardly find a home without starting a bidding war and dropping all concessions to be a successful buyer.

It’s nice to be a buyer and have some leverage back.

 

[Sportin' Wood]

Quick question, have you seen stats on our country having the highest debt default in over 10 years?

Yes, I have a friend in the banking industry who shares some data with me, and it is sometimes shocking. The CC debt stuff blows my mind.

 

[RiverDave]

Not me, arms are doing nicely. I made bank on all my properties that sold and yes I left a bit on the table at the time but not much at all, as of TODAY every single property I sold in highly sought after areas of Vegas, Boulder City, Tahoe and Cali have stayed stagnant or have gone down in value just a little bit from the amounts I sold them for. I also invested all the dough in the market and have done at least 10x what would have been made if I kept the properties and kept collecting rents and appreciations so I guess I should change my answer to YES they are tired of counting the gains. Quick question, have you seen stats on our country having the highest debt default in over 10 years? or highest credit card debt in the history of the country as SO MANY people keep living off their credit cards while heading for default claiming BK? I know I know Havi is booming again, Cali or some parts are booming but check out the rest of the country outside of the few hotspots and where we are today compared to where we were 2 years ago. I have been looking at properties for a 2nd place in Texas for the last year, every single property 5 to 50 acres have dropped in price a very nice amount and still going down. These properties are about an hour up to two hours outside of Dallas and Houston not far from a few different lakes. Just wondering.....

I'm not a national guy I can only speak for Here in Havasu.. Which I believe was what most of this thread was about. I'm glad you did well in the stock market, I'm always rooting for anyone I know to make money!

RD

 

[RiverDave]

I saw a home bought with Team RDP on Zillow recently too. It was purchased under listing price by a good 3-4% if I remember correctly.

When this thread started you couldn’t hardly find a home without starting a bidding war and dropping all concessions to be a successful buyer.

It’s nice to be a buyer and have some leverage back.

I agree!! That said this thread was put out to talk about the impending crash and loss of values at the river.. and it quite simply didn't happen which is what I'm pointing out. This thread and the 2 before it actually gave pause to several of my friends from buying, most regret it now. They kept waiting for the crash, and it never came, and now most are of the opinion if the rates drop, it is even gonna go higher.. (

RD

 

[BHC Vic]

I agree!! That said this thread was put out to talk about the impending crash and loss of values at the river.. and it quite simply didn't happen which is what I'm pointing out. This thread and the 2 before it actually gave pause to several of my friends from buying, most regret it now. They kept waiting for the crash, and it never came, and now most are of the opinion if the rates drop, it is even gonna go higher.. (

RD

My buddy max kept buying. He has 4 houses in havasu now. Having a hard time renting them. Probably getting ready to sell the one he had bought for a family vacation house. Don’t think he’s lost money yet but I don’t think he can cover everything without renters.

 

[RiverDave]

My buddy max kept buying. He has 4 houses in havasu now. Having a hard time renting them. Probably getting ready to sell the one he had bought for a family vacation house. Don’t think he’s lost money yet but I don’t think he can cover everything without renters.

Short term or long term.. long term should be easy but he’s not gonna get rich quick he’s gonna build wealth slow

 

[BHC Vic]

Short term or long term.. long term should be easy but he’s not gonna get rich quick he’s gonna build wealth slow

He’s looking for long term. The houses he bought were older and he kind of paid all the money. Personally if I was renting and prices were close I’d chose something much newer and nicer

 

[BHC Vic]

Short term or long term.. long term should be easy but he’s not gonna get rich quick he’s gonna build wealth slow

You probably know the houses. One of them has a bitchen lake view from the front yard. I forget which one though

 

[zhandfull]

View attachment 1323978 View attachment 1323979 View attachment 1323980 View attachment 1323981 You probably know the houses. One of them has a bitchen lake view from the front yard. I forget which one though

Last one look similar to house a friend bought a few months ago.

 

[LargeOrangeFont]

He’s looking for long term. The houses he bought were older and he kind of paid all the money. Personally if I was renting and prices were close I’d chose something much newer and nicer

It is situation dependent of course, but he’s not gonna cash flow with long term unless he put 40% (or more) down if he paid all the money.

It does not pencil out at all right now, generally speaking if you are trying to tread water with something you bought in the last 3 years.

 

[hallett21]

My buddy max kept buying. He has 4 houses in havasu now. Having a hard time renting them. Probably getting ready to sell the one he had bought for a family vacation house. Don’t think he’s lost money yet but I don’t think he can cover everything without renters.

I miss the Max Facebook updates lol.

 

[badgas]

Interesting how much asking price comes up in this thread. Asking price means noting !

Where are the comps and appraisals ?

 

[BHC Vic]

I miss the Max Facebook updates lol.

 

[PaPaG]

I'm not a national guy I can only speak for Here in Havasu.. Which I believe was what most of this thread was about. I'm glad you did well in the stock market, I'm always rooting for anyone I know to make money!

RD

I got you, but this was not a Havasu thread. I know lots on here are from around the country and like I have told you before I WISH everyone on RDs makes money and I hate it when good people lose money for that we totally agree.

 

[shintoooo]

Pending Home Sales Rose 4% in December—Biggest Jump in Over Two Years

Buyers came out of the woodwork as mortgage rates posted the biggest drop since 2008. Sellers also came off the sidelines, but not with as much force.

www.redfin.com

 

[DrunkenSailor]

I have a friend in Hawaii. Family Realtors. Parents bought hundreds of apartments starting in the 70s throughout the years. All paid off this last year the son, my age, had to sign for a loan becuase the mother has no source of income As she is retired from the family business and the kids/grandkids took over.

The mother and father bought all these apartments gave business to kids and they now have no source of income? Talk about your kids screwing you....

I get it's for inheritance and tax purposes but man that sucks.

 

[regor]

MSN

Interesting article about short term rentals, regulation and how it affects prices in Palm Springs.

 

[Englewood]

Have no info on Farmersville, Easy drive to Dallas, far enough away to keep the big city activity someone a distance, lavon lake looks nice, not sure about prices, crime, etc. I just looked and a few places for sale have price drops of 200K-600k in less than 1 year but still up BIG TIME from the first part of 2020 to the first part of 23. https://www.zillow.com/homedetails/4412-County-Road-551-Farmersville-TX-75442/83761503_zpid/
This house was estimated value at 1.1 mil in 2020 to mid 2023, then shot up to 3.2 mil CRAZY increase, a joke if you ask me. Now less than 6 months later down 600k, realtor pulled one over on them to get the listing in my opinion giving them unrealistic asking prices to get the listing. I am guessing the price goes down to 1.8 mil or less then it may sell. Way toooo big to retire in, just thinking of the taxes would make a retiree go back to work...lol.

Price history​

Date	Event	Price
1/2/2024	Price change	$2,600,000-8%$502/sqft
Source: NTREIS #20467005 Report a problem
11/2/2023	Price change	$2,825,000-11.7%$546/sqft
Source: NTREIS #20467005 Report a problem
5/25/2023	Listed for sale	$3,200,000$618/sqft
Source: NTREIS #20328452 Report a problem

Not to be a dick but BFE Texas is hardly a snapshot of the market as a whole. A ranch 1hr from Dallas has maybe 5 buyers in the world. That would be like basing Havasu prices on a house in Ehrenberg.

 

[PaPaG]

Not to be a dick but BFE Texas is hardly a snapshot of the market as a whole. A ranch 1hr from Dallas has maybe 5 buyers in the world. That would be like basing Havasu prices on a house in Ehrenberg.

Don't think you are being a dick just just discussing I am sure. Texas, Florida, Nevada, and a lot of areas in AZ have more people that moved in within the last few years than any other state in the nation by 10 fold. (Especially with an exodus from from the lefts beloved Commifornia & NY) more than MOST ANY OTHER state in the nation. I am not sure why Havasu is always brought up in these conversations since this thread had nothing to do with just Havasu, Havasu was included but this thread has to do with the Nation and since I dont live in Havasu I think that would be obvious especially after being stated a few dozen times.

 

[LargeOrangeFont]

Don't think you are being a dick just just discussing I am sure. Texas, Florida, Nevada, and a lot of areas in AZ have more people that moved in within the last few years than any other state in the nation by 10 fold. (Especially with an exodus from from the lefts beloved Commifornia & NY) more than MOST ANY OTHER state in the nation. I am not sure why Havasu is always brought up in these conversations since this thread had nothing to do with just Havasu, Havasu was included but this thread has to do with the Nation and since I dont live in Havasu I think that would be obvious especially after being stated a few dozen times.

Since you’ve now defined that you were talking about the nation all this time, here is the graph for the national price average over the last 5 years. People can decide for themselves if the market tanked or not.

At the very worst in the last 3 years the market fluctuated less than 10%, and as of this moment we look to be down 5% off the mid 2022 peak.

Taking rates into account, anyone financing was better off buying 18 months to 24 months ago, and not sitting on the sidelines.

And zoomed in to the last 3 years.

 

[Havasu blue label]

Since you’ve now defined that you were talking about the nation all this time, here is the graph for the national price average over the last 5 years. People can decide for themselves if the market tanked or not.

At the very worst in the last 3 years the market fluctuated less than 10%, and as of this moment we look to be down 5% off the mid 2022 peak.

Taking rates into account, anyone financing was better off buying 18 months to 24 months ago, and not sitting on the sidelines.


View attachment 1325705

And zoomed in to the last 3 years.

View attachment 1325706

I said havasu