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

[Andy B.]

Come on now Scarborough douchebag said biden is more competent than ever he's doing a great job!!! Fuck sheep will believe anything sooooo sad.......

 

[OldSchoolBoats]

So is this still a RE thread? Is anyone still holding their hat? Asking for a friend.

 

[hallett21]

So is this still a RE thread? Is anyone still holding their hat? Asking for a friend.

Lol I think the hats have hit the floor.

 

[RiverDave]

So is this still a RE thread? Is anyone still holding their hat? Asking for a friend.

Good question

 

[hallett21]

Our havasu “casita” is almost done. Pool is next.

 

[Havasu blue label]

So is this still a RE thread? Is anyone still holding their hat? Asking for a friend.

No it’s Forsale

 

[attitude]

Went looking at new builds yesterday, toured 8 different house and saw about 3 other families all day. KB homes had zero other people looking and they were offering a 5.8% fixed 30 year rate which I thought was solid. Centex had a $18k rebate. I will say, the quality is garbage on anything sub 700k, cheap cabinets, cheap doors, cheap floors. Lots of homes came with solar too.

 

[NicPaus]

Went looking at new builds yesterday, toured 8 different house and saw about 3 other families all day. KB homes had zero other people looking and they were offering a 5.8% fixed 30 year rate which I thought was solid. Centex had a $18k rebate. I will say, the quality is garbage on anything sub 700k, cheap cabinets, cheap doors, cheap floors. Lots of homes came with solar too.

In CA? Solar mandatory if so on new construction. You obviously not in the Southbay. Open houses I have been hitting are crazy busy. But they are in the good areas. 1.4-2 million.

 

[hallett21]

Shane from Edge Construction has handled it. And he’s done a great job,

 

[attitude]

In CA? Solar mandatory if so on new construction. You obviously not in the Southbay. Open houses I have been hitting are crazy busy. But they are in the good areas. 1.4-2 million.

Makes sense regarding the solar, some house came with it, some they would either wrap into the loan or you could lease.

I was looking in SoCal IE, the houses I was looking at were 500-700k, mostly first time buyer homes. Definitely a different crowed than what you are seeing. As they say, those with money will always have money.

 

[HNL2LHC]

Shane from Edge Construction has handled it. And he’s done a great job,

Good to hear that he improved his builds/ethics. I know someone that was not so lucky. A dozen items not completed even though he claims he completed the contract. Then there was the claim that payment was not made and work was to stop. This is bringing up great memories as he sent a collections notice. All the threats of legal action and once I provided documentation the collection agency said looks like they did not complete the work as detailed in the contract. Yeah, good times. Thanks for the reminder that they need to go down to the contractor’s board and talk to them about a few things.

 

[hallett21]

Good to hear that he improved his builds/ethics. I know someone that was not so lucky. A dozen items not completed even though he claims he completed the contract. Then there was the claim that payment was not made and work was to stop. This is bringing up great memories as he sent a collections notice. All the threats of legal action and once I provided documentation the collection agency said looks like they did not complete the work as detailed in the contract. Yeah, good times. Thanks for the reminder that they need to go down to the contractor’s board and talk to them about a few things.

Unfortunate to hear however he’s been nothing but straight with us. And I’ve had a few “construction”phone calls with him.

He knows his stuff as far as I can tell. He also didn’t want me doing the electrical due to not wanting the job slowed down. Which I can 100% respect.

We weren’t looking for a good deal. Just a fair price and a quality product.

 

[Orange Juice]

The only deals I’m seeing are located on busy streets, or the interior is 25-40year old, with popcorn ceilings, and would be a minimum of a 3 month flip. But they’re getting another 250k-400k, after it’s done( in NE Phoenix area).

 

[attitude]

The only deals I’m seeing are located on busy streets, or the interior is 25-40year old, with popcorn ceilings, and would be a minimum of a 3 month flip. But they’re getting another 250k-400k, after it’s done( in NE Phoenix area).

So, Scottsdale? Of course it’s expensive with no deals, might as well be OC lol.

 

[DWC]

So is this still a RE thread? Is anyone still holding their hat? Asking for a friend.

It’s kinda like global warming became climate change…. The sky is still falling. The definition of sky has evolved though.
Personally, I’m just glad i didn’t sell anything. I’m not convinced we won’t see a correction of some sort. We can’t keep chugging along with high inflation, high interest rates and record consumer debt. The levers have changed in the RE game though. Single family housing isn’t just single family any longer. Corporate holdings, Short Term Rentals and ADU’s are changing the game more than foreign ownership ever did. Legislation is a bigger lever than rates at this point.

 

[monkeyswrench]

Good to hear that he improved his builds/ethics. I know someone that was not so lucky. A dozen items not completed even though he claims he completed the contract. Then there was the claim that payment was not made and work was to stop. This is bringing up great memories as he sent a collections notice. All the threats of legal action and once I provided documentation the collection agency said looks like they did not complete the work as detailed in the contract. Yeah, good times. Thanks for the reminder that they need to go down to the contractor’s board and talk to them about a few things.

I think, in general, there will always be guys that are talented tradesmen, but lack people or business skills. When the market is going great, you'll see the whole spectrum. When complexities of projects become more than any area is accustomed to, the tradesmen will tend to make more scheduling or logistical mistakes, but will try to finish at all costs, as the project my become a feather in their cap. The business types try to play it safe, and try to maintain control over things that they really cannot. All the while, the current customer is getting frustrated, and future customers are tiring of the wait.

 

[Ace in the Hole]

Good to hear that he improved his builds/ethics. I know someone that was not so lucky. A dozen items not completed even though he claims he completed the contract. Then there was the claim that payment was not made and work was to stop. This is bringing up great memories as he sent a collections notice. All the threats of legal action and once I provided documentation the collection agency said looks like they did not complete the work as detailed in the contract. Yeah, good times. Thanks for the reminder that they need to go down to the contractor’s board and talk to them about a few things.

A licensing complaint Will ruin someone’s day… Knowing some of what you went through you should absolutely follow through on that.

 

[shintoooo]

Our havasu “casita” is almost done. Pool is next. View attachment 1345772

Can I Airbnb that from you? I have a 560 credit score and I can pay you 1/3 cash upfront. We’re really responsible people. Source: Trust me bro.

 

[Englewood]

So is this still a RE thread? Is anyone still holding their hat? Asking for a friend.

Summary

1/3 says they called it
1/3 says stats show it’s here
1/3 says storms coming

 

[shintoooo]

No one with rates under 5% is selling. With all these people pouring in the country, there’s a shortage of housing everywhere. Prices are going much much higher. Real estate is still cheap compared to the stock market.

I say money from the stock market is gonna pour into real estate for a safe haven. Hold on to your hats.

 

[DWC]

Summary

1/3 says they called it
1/3 says stats show it’s here
1/3 says storms coming

Funny how often the 1/3 rule comes into play.

 

[NicPaus]

No one with rates under 5% is selling. With all these people pouring in the country, there’s a shortage of housing everywhere. Prices are going much much higher. Real estate is still cheap compared to the stock market.

I say money from the stock market is gonna pour into real estate for a safe haven. Hold on to your hats.

All the houses I have looked at lately the owners passed away. And the kids just want the money.

Spent 4 hours at a bid today. Parents just went to assisted living. But the Dad said properties will not be sold. 8 owned outright. Fixing there house to rent. Original owners.

They don't like guns so they gave me those for credit. Estate sale insider deal next few days. I loaded up the van. And filled a bathroom up with goods so Estate people can't touch. Coin collection, stamps and few other valuables. Trying to recover what I can to apply it to there remodel. Good repeat customers.

61 unopened cases of cards and a lot more.

 

[shintoooo]

All the houses I have looked at lately the owners passed away. And the kids just want the money.

Spent 4 hours at a bid today. Parents just went to assisted living. But the Dad said properties will not be sold. 8 owned outright. Fixing there house to rent. Original owners.

They don't like guns so they gave me those for credit. Estate sale insider deal next few days. I loaded up the van. And filled a bathroom up with goods so Estate people can't touch. Coin collection, stamps and few other valuables. Trying to recover what I can to apply it to there remodel. Good repeat customers.

61 unopened cases of cards and a lot more. View attachment 1345949 View attachment 1345950

Jackpot

 

[NicPaus]

Jackpot

I am just middle Man to help them out. I collect tools not any of this stuff. Except the guns. But only 2 older rifles but they are cool. Tried to get the Grandson to keep them for sentimental reasons but they didn't even want to touch them Lol.

 

[Englewood]

No one with rates under 5% is selling.

I have been telling everyone this same thing. It’s simple economics. The higher prices + higher rates will keep the majority from selling.

We will look back on those low rates for the rest of our lives. I am so grateful we were able to take advantage of them.

 

[Orange Juice]

No one with rates under 5% is selling. With all these people pouring in the country, there’s a shortage of housing everywhere. Prices are going much much higher. Real estate is still cheap compared to the stock market.

I say money from the stock market is gonna pour into real estate for a safe haven. Hold on to your hats.

I know a few crypto collectors that got their money back, but home prices have jumped too.

Any Western U.S. city (with an international airport, ) its going to be difficult finding a 1800-3500sf home on a 1/4 acre. And when you do, it’s probably over $1M.

 

[Orange Juice]

So, Scottsdale? Of course it’s expensive with no deals, might as well be OC lol.

.

It’s the large lots in Northeast Phoenix. 40-50 y/o homes on 1/4 to 1 acre lots. Scottsdale is too restrictive. Many of the smaller homes are being leveled, and 3500-6500 estates are going in. Look west of Scottsdale Rd, north of Shea Rd.

 

[rivrrts429]

I was at my Mom & Dad’s house on Saturday visiting. The house next door is for sale. Home is in Menifee and priced competitively.

I thought it was a huge wedding that people were showing up to. Instead it was an open house. Never seen activity like that.

 

[attitude]

.

It’s the large lots in Northeast Phoenix. 40-50 y/o homes on 1/4 to 1 acre lots. Scottsdale is too restrictive. Many of the smaller homes are being leveled, and 3500-6500 estates are going in. Look west of Scottsdale Rd, north of Shea Rd.

The cheapest house I found in that area was 1.5 million lol

 

[Orange Juice]

The cheapest house I found in that area was 1.5 million lol

Lots of “buying the lot” going on in that area.

 

[CarolynandBob]

I am pretty sure I am priced to high on mine, but don't care. I think it will take lower interest rates for mine to sell. I am fine waiting as it seams prices in Sarasota are coming down a bit on new construction, which is what I will buy.

The good news is I think I found a guy that will do a lot of the work at my place in TN, so I can enjoy it more instead of working on it so much.

 

[JL95]

50 different mass layoffs that we have seen recently…

1. Everybuddy: 100% of workforce
2. Wisense: 100% of workforce
3. CodeSee: 100% of workforce
4. Twig: 100% of workforce
5. Twitch: 35% of workforce
6. Roomba: 31% of workforce
7. Bumble: 30% of workforce
8. Farfetch: 25% of workforce
9. Away: 25% of workforce
10. Hasbro: 20% of workforce
11. LA Times: 20% of workforce
12. Wint Wealth: 20% of workforce
13. Finder: 17% of workforce
14. Spotify: 17% of workforce
15. Buzzfeed: 16% of workforce
16. Levi’s: 15% of workforce
17. Xerox: 15% of workforce
18. Qualtrics: 14% of workforce
19. Wayfair: 13% of workforce
20. Duolingo: 10% of workforce
21. Rivian: 10% of workforce
22. Washington Post: 10% of workforce
23. Snap: 10% of workforce
24. eBay: 9% of workforce
25. Sony Interactive: 8% of workforce
26. Expedia: 8% of workforce
27. Business Insider: 8% of workforce
28. Instacart: 7% of workforce
29. Paypal: 7% of workforce
30. Okta: 7% of workforce
31. Charles Schwab: 6% of workforce
32. Docusign: 6% of workforce
33. Riskified: 6% of workforce
34. EA: 5% of workforce
35. Motional: 5% of workforce
36. Mozilla: 5% of workforce
37. Vacasa: 5% of workforce
38. CISCO: 5% of workforce
39. UPS: 2% of workforce
40. Nike: 2% of workforce
41. Blackrock: 3% of workforce
42. Paramount: 3% of workforce
43. Citigroup: 20,000 employees
44. ThyssenKrupp: 5,000 employees
45. Best Buy: 3,500 employees
46. Barry Callebaut: 2,500 employees
47. Outback Steakhouse: 1,000
48. Northrop Grumman: 1,000 employees
49. Pixar: 1,300 employees
50. Perrigo: 500 employees

"We Will Have A Hard Landing At Some Point. I Guarantee You That..." | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

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[Sportin' Wood]

FWIW, my brother got his spec house into escrow in CDA. We all called him crazy for his asking price, but he got it with a small discount (Under $50K)

A month ago, he was crying the blues about being broke and what a mistake he had made; now, magically, he is looking for his next hustle. Funny, this project was supposed to fund his retirement, but without skipping a beat, he is looking for another high-risk investment.

I hate to say it, but I believe that during the course of this thread, we completely wiped out any chance of people using real estate to climb from the working class to the middle class. I tend to agree with @shintoooo that the people forced out of the stock market are going to pump the RE market further full of inflationary pressure.

 

[PaPaG]

Jobs are starting to slow, debt at the highest level in history...lets see what the year brings. NO ONE has made OR Lost a PENNY on their house unless they have sold, high desired areas will always hold out the longest but check out the rest of the country... the wind has started...time will tell if history repeats itself or not.

 

[Paradox]

All the houses I have looked at lately the owners passed away. And the kids just want the money.

Spent 4 hours at a bid today. Parents just went to assisted living. But the Dad said properties will not be sold. 8 owned outright. Fixing there house to rent. Original owners.

They don't like guns so they gave me those for credit. Estate sale insider deal next few days. I loaded up the van. And filled a bathroom up with goods so Estate people can't touch. Coin collection, stamps and few other valuables. Trying to recover what I can to apply it to there remodel. Good repeat customers.

61 unopened cases of cards and a lot more. View attachment 1345949 View attachment 1345950

I collect US stamps. Anything interesting?

 

[Sportin' Wood]

I collect US stamps. Anything interesting?

I inherited a stamp collection; are you buying?

 

[Paradox]

I inherited a stamp collection; are you buying?

Lol. Maybe.. Got pics you can PM me? I’m interested in pre 1910 US. Regular and commemorative issues. Confederates as well.

 

[NicPaus]

I collect US stamps. Anything interesting?

I will look for you.

 

[EmpirE231]

I collect US stamps. Anything interesting?

Where would one go to sell a stamp collection?

 

[shintoooo]

Where would one go to sell a stamp collection?

At a stamp collection shop. Kinda like a baseball memorabilia shop.

 

[cofooter]

Where would one go to sell a stamp collection?

Not much interest by buyers for a collection from your standard stamp collector because there is typically not much value there. Having said that there are certain individuals stamps that are rare and worth a lot of money, just need to do some research and find those.

 

[cofooter]

Lol. Maybe.. Got pics you can PM me? I’m interested in pre 1910 US. Regular and commemorative issues. Confederates as well.

I have some very old ones from when I collected as a kid, PM your email and I can send pics this weekend if you want to see more.

 

[Sportin' Wood]

Lol. Maybe.. Got pics you can PM me? I’m interested in pre 1910 US. Regular and commemorative issues. Confederates as well.

Ha ha, I thought you were joking. It is stashed somewhere back home in Montana in a box. Grandma used to collect them, not sure why I ended up with it. Now I gotta go look and see what is inside.

We have a ton of books as well; the last time we went into the rare bookstore in Vegas, we had well into six figures of stuff they had for sale. Of course, they don't want to buy any of them for anything close to what they have them listed at—lots of first-edition stuff, but no idea who actually buys these things. Somehow, what they had was super valuable, and the stuff I have not so much. If I could sell the books, I could buy a house in Havasu. LOL.

 

[Boatymcboatface]

Ha ha, I thought you were joking. It is stashed somewhere back home in Montana in a box. Grandma used to collect them, not sure why I ended up with it. Now I gotta go look and see what is inside.

We have a ton of books as well; the last time we went into the rare bookstore in Vegas, we had well into six figures of stuff they had for sale. Of course, they don't want to buy any of them for anything close to what they have them listed at—lots of first-edition stuff, but no idea who actually buys these things. Somehow, what they had was super valuable, and the stuff I have not so much. If I could sell the books, I could buy a house in Havasu. LOL.

You should start a “HOLD ON TO YOUR STAMPS” thread.

 

[Todd Mohr]

Ha ha, I thought you were joking. It is stashed somewhere back home in Montana in a box. Grandma used to collect them, not sure why I ended up with it. Now I gotta go look and see what is inside.

We have a ton of books as well; the last time we went into the rare bookstore in Vegas, we had well into six figures of stuff they had for sale. Of course, they don't want to buy any of them for anything close to what they have them listed at—lots of first-edition stuff, but no idea who actually buys these things. Somehow, what they had was super valuable, and the stuff I have not so much. If I could sell the books, I could buy a house in Havasu. LOL.

I have a friend that deals with books, I can send you his info if you want. Todd

 

[Cdog]

Y’all stamps & my stamps are totally different.

 

[Sportin' Wood]

I have a friend that deals with books, I can send you his info if you want. Todd

@angiebaby says, "One simply does not sell books, tools or guns."

 

[Paradox]

Where would one go to sell a stamp collection?

Ebay or Hipstamp are decent choices

HipStamp

Buy and Sell Collectible Stamps Online.

www.hipstamp.com

 

[Paradox]

Y’all stamps & my stamps are totally different.

View attachment 1346374

Nice.

Full auto? How long did it take to get?

 

[CarolynandBob]

I am pretty sure I am priced to high on mine, but don't care. I think it will take lower interest rates for mine to sell. I am fine waiting as it seams prices in Sarasota are coming down a bit on new construction, which is what I will buy.

The good news is I think I found a guy that will do a lot of the work at my place in TN, so I can enjoy it more instead of working on it so much.

Funny about an hour after I posted this I got a text from my realtor. Someone is coming to look at the place today and an investor is coming on the 22nd.

The investor surprised me, but then I started to think about it. You could easily add a house up by my shop. The parcels are already split. If someone didn't want the shop with the main house then that house would still be on the lake and secluded. The shop with a house would be about 2 acres and a separate drive. I never considered this, but now my wife is saying maybe we should put another house up there and make more money. I think I would rather sell although she does have me thinking.