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

[DWC]

Someone had some cash laying around. Congrats @RiverDave , I’m sure that didn’t hurt the boat fund.

 

[JL95]

How’d they get that pic of me @regor lol

 

[zhandfull]

Someone had some cash laying around. Congrats @RiverDave , I’m sure that didn’t hurt the boat fund.

View attachment 1371433

Amazing home. Congratulations to the buyer and team RDP for negotiating a price almost 400k lower than original listing. Also happens to be a lower price than it sold for two years ago.

 

[Bpracing1127]

Amazing home. Congratulations to the buyer and team RDP for negotiating a price almost 400k lower than original listing. Also happens to be a lower price than it sold for two years ago.

Wow!!!

 

[CarolynandBob]

Florida is getting hit hard with price decreases right now and inventory is increasing significantly. Cost of living is up and Florida doesn't offer the wages like CA does in order to live comfortably.

Do you have a link to the data about price decreases? I have been looking in Sarasota, Venice and North Port, which is where we will buy when our TN place sells.

I think FL is still affordable without the 11-13% income tax, higher gas, electricity, registration fees and personal property assessments. Food is probably comparable, but I think you beat us on liquor prices. LOL

 

[LuauLounge]

House a few blocks away,
Listed at $699k on 4/11
Pending on 4/13
Sold on 5/6 for $875k

 

[DrunkenSailor]

We have a house we are trying to sell in Naples Fl on a canal and it's a nightmare. There are 8 houses on the street 3 are for sale. There are over 100 listings in a half mile. No one can get insurance. Nothing is selling.

 

[PaPaG]

We have a house we are trying to sell in Naples Fl on a canal and it's a nightmare. There are 8 houses on the street 3 are for sale. There are over 100 listings in a half mile. No one can get insurance. Nothing is selling.

Insurance has gone crazy, my cousin has a vacation house in Naples Bay area on the water and each house to his left and right got major damage from the last hurricane but his did not get touched, he said it was like a movie scene. He said a few neighbors have dropped asking prices up to 1 million from prior sales or former asking in attempts to sell because they have had enough and the time & costs of rebuilding are making their decisions for them. I personally would never buy in a heavy hurricane zone due to all the issues but I see the draw of having a house in that area it is beautiful. Hope you sell and get what you want for it.

 

[regor]

How’d they get that pic of me @regor lol

?

 

[JL95]

?

the debt to savings you posted lmao

 

[Done-it-again]

We have a house we are trying to sell in Naples Fl on a canal and it's a nightmare. There are 8 houses on the street 3 are for sale. There are over 100 listings in a half mile. No one can get insurance. Nothing is selling.

Post a link. Naples is $$$$

 

[regor]

Prices are going up boys, they will save their own!!!!

To Prevent A Banking Crisis, The Fed Must Cut; But...​

In all its hubris, the Fed is stuck between preventing a banking crisis and preventing inflation from getting even more out of control...

THU MAY 9, AT 7:40 AM

 

[attitude]

In the wise words of the Biden administration “The government will never go bankrupt because the government prints the money”

 

[thetub]

In the wise words of the Biden administration “The government will never go bankrupt because the government prints the money”

this was just posted down in the dungeon

this is scary and this coming from the chair of the council of economic advisors. scary to listen to this bumbling idiot

 

[Orange Juice]

Someone had some cash laying around. Congrats @RiverDave , I’m sure that didn’t hurt the boat fund.

View attachment 1371433

The paver Driveway was probably $600k

 

[DWC]

The paver Driveway was probably $600k

No kidding. Some cash in it for sure.

 

[PaPaG]

Remember NaySayers this is a National related Post NOT a Havi or Just parts of Cali THREAD....
1 in 37 houses in the nation are in trouble and under water, as long as homeowners keep their jobs and make their payments they should be ok but once their job gets threatened or miss a payment due to any issue watch out.... And wait til these 5+% buyers have a glitch in their income that were 50-60-70% debt to income ratio in order to buy a place.....I know I know I am ready to here that "Havasu is booming and houses in some areas are selling like hot cakes and for tons of $$$" and the stories of "My friend or I have a neighbor that sold in 10 minutes for 100k over asking" lol... but those are far and few between when considering the national averages and direction we are heading, one thing for sure, Facts are Facts and Facts do not lie in the direction we are heading....just a small picture.

 

[EmpirE231]

anyone have intel on the boat market? It seems that the offroad toy market is at a stand still.... zero action. I know its also seasonal, but I'd say it came to a halt in Jan/ Feb which was still in season. Seeing a lot of people / Facebook friends trying to sell their 2021 & 2022 model RV's. Local RV lots are stacked with inventory and so are the local car lots.

 

[DWC]

Remember NaySayers this is a National related Post NOT a Havi or Just parts of Cali THREAD....
1 in 37 houses in the nation are in trouble and under water, as long as homeowners keep their jobs and make their payments they should be ok but once their job gets threatened or miss a payment due to any issue watch out.... And wait til these 5+% buyers have a glitch in their income that were 50-60-70% debt to income ratio in order to buy a place.....I know I know I am ready to here that "Havasu is booming and houses in some areas are selling like hot cakes and for tons of $$$" and the stories of "My friend or I have a neighbor that sold in 10 minutes for 100k over asking" lol... but those are far and few between when considering the national averages and direction we are heading, one thing for sure, Facts are Facts and Facts do not lie in the direction we are heading....just a small picture. View attachment 1371720

Interesting, 7 of the top 9 ish are in areas with very low home values. Seriously underwater must be a small dollar amount there.

 

[attitude]

anyone have intel on the boat market? It seems that the offroad toy market is at a stand still.... zero action. I know its also seasonal, but I'd say it came to a halt in Jan/ Feb which was still in season. Seeing a lot of people / Facebook friends trying to sell their 2021 & 2022 model RV's. Local RV lots are stacked with inventory and so are the local car lots.

My neighbor is trying to sell his RV for less than he owes, still no takers yet. He’s tired of the $800 a month payment and only using it a couple of times a year.

 

[rivrrts429]

Remember NaySayers this is a National related Post NOT a Havi or Just parts of Cali THREAD....
1 in 37 houses in the nation are in trouble and under water, as long as homeowners keep their jobs and make their payments they should be ok but once their job gets threatened or miss a payment due to any issue watch out.... And wait til these 5+% buyers have a glitch in their income that were 50-60-70% debt to income ratio in order to buy a place.....I know I know I am ready to here that "Havasu is booming and houses in some areas are selling like hot cakes and for tons of $$$" and the stories of "My friend or I have a neighbor that sold in 10 minutes for 100k over asking" lol... but those are far and few between when considering the national averages and direction we are heading, one thing for sure, Facts are Facts and Facts do not lie in the direction we are heading....just a small picture. View attachment 1371720

You have to scale the sensationalism the media can portray when a hit piece is designed to capture views and likes.

Something around 45% of all mortgages are paid off and free and clear. That leaves the scale to a much smaller number.

Nobody is losing money or under water on their mortgage unless they’re in need of selling. If they’re staying put it doesn’t matter. I bought my home in 2004 and never felt underwater during the crisis of 2008 because I wasn’t forced to sell.

I’m not minimizing your overall point just looking at it subjectively. If your lifestyle is maximized it’s always going to be a grind whether the market is strong or not. That challenge will only compound when the market is stressed.

 

[BHC Vic]

anyone have intel on the boat market? It seems that the offroad toy market is at a stand still.... zero action. I know its also seasonal, but I'd say it came to a halt in Jan/ Feb which was still in season. Seeing a lot of people / Facebook friends trying to sell their 2021 & 2022 model RV's. Local RV lots are stacked with inventory and so are the local car lots.

I want to but an rv sooo bad. Around 60k budget but I’m afraid if I buy today in a few months to a year I’ll say dang I could have gotten xyz for 60k. Shitty way to live my life

 

[hallett21]

Remember NaySayers this is a National related Post NOT a Havi or Just parts of Cali THREAD....
1 in 37 houses in the nation are in trouble and under water, as long as homeowners keep their jobs and make their payments they should be ok but once their job gets threatened or miss a payment due to any issue watch out.... And wait til these 5+% buyers have a glitch in their income that were 50-60-70% debt to income ratio in order to buy a place.....I know I know I am ready to here that "Havasu is booming and houses in some areas are selling like hot cakes and for tons of $$$" and the stories of "My friend or I have a neighbor that sold in 10 minutes for 100k over asking" lol... but those are far and few between when considering the national averages and direction we are heading, one thing for sure, Facts are Facts and Facts do not lie in the direction we are heading....just a small picture. View attachment 1371720

What ratio (you said 1 in 37 are underwater) would be a “no worry” situation?

Is that typically 1:50…1:100 etc.

 

[rivrrts429]

What ratio (you said 1 in 37 are underwater) would be a “no worry” situation?

Is that typically 1:50…1:100 etc.

A realistic analytic would be how many properties that are “underwater” are for sale.

 

[530RL]

Remember NaySayers this is a National related Post NOT a Havi or Just parts of Cali THREAD....
1 in 37 houses in the nation are in trouble and under water, as long as homeowners keep their jobs and make their payments they should be ok but once their job gets threatened or miss a payment due to any issue watch out.... And wait til these 5+% buyers have a glitch in their income that were 50-60-70% debt to income ratio in order to buy a place.....I know I know I am ready to here that "Havasu is booming and houses in some areas are selling like hot cakes and for tons of $$$" and the stories of "My friend or I have a neighbor that sold in 10 minutes for 100k over asking" lol... but those are far and few between when considering the national averages and direction we are heading, one thing for sure, Facts are Facts and Facts do not lie in the direction we are heading....just a small picture. View attachment 1371720

They typical down payment for a first time homebuyer in America is about 6%.

Given transaction costs, pretty much every single first time homebuyer is under water the day they close.

 

[EmpirE231]

I want to but an rv sooo bad. Around 60k budget but I’m afraid if I buy today in a few months to a year I’ll say dang I could have gotten xyz for 60k. Shitty way to live my life

One thing you can't get back or put a price on is time.... I'm on our 3rd RV.... and have actually always made money on the sale or broke even. The one I'm currently in right now I got a decent deal on... so would probe break even or maybe take a loss on if I had to sell. But one thing I will never regret is the amount of fun as a family over the last 10+ years of having an RV. Unfortunately these things always seem like they'll never make sense for a rational / fiscally responsible thinker lol, so you either jump in at some point or you don't. As long as you're not over extending yourself to do it, and you find yourself a good deal when buying... it should be worth it.

 

[angiebaby]

this was just posted down in the dungeon

this is scary and this coming from the chair of the council of economic advisors. scary to listen to this bumbling idiot

I just looked him up. He has a bachelor's degree in music and a master's degree in social work. This is one of our lead economic advisors? This shit is straight out of Atlas Shrugged! LOL

 

[EmpirE231]

I just looked him up. He has a bachelor's degree in music and a master's degree in social work. This is one of our lead economic advisors? This shit is straight out of Atlas Shrugged! LOL

maybe he knows when the music stops

 

[DWC]

I want to but an rv sooo bad. Around 60k budget but I’m afraid if I buy today in a few months to a year I’ll say dang I could have gotten xyz for 60k. Shitty way to live my life

Be careful with your kids sports schedule. Loved ours for years until baseball became year round and the kids added football/cheer. Damn thing sat around so much it cost me a shitload in tires from sitting.

 

[Boatymcboatface]

My neighbor is trying to sell his RV for less than he owes, still no takers yet. He’s tired of the $800 a month payment and only using it a couple of times a year.

Well be a buyer when the bank takes some of these thing back.

 

[hallett21]

I want to but an rv sooo bad. Around 60k budget but I’m afraid if I buy today in a few months to a year I’ll say dang I could have gotten xyz for 60k. Shitty way to live my life

I bought a truck so the bottom should fall out any day lol.

 

[EmpirE231]

I bought a truck so the bottom should fall out any day lol.

I started it when I bought mine for MSRP a year ago

 

[hallett21]

A realistic analytic would be how many properties that are “underwater” are for sale.

Let me get my abacus out.

 

[ChumpChange]

 

[regor]

View attachment 1371794

That's a hell of a discount.

The bank chatter is heating up again.


Billionaire Barry Sternlicht, Founder, Chairman and CEO of Starwood Capital Group has issued an ominous warning about America's regional banks, which he says will fail at a rate of 'one or two' per week.

Speaking with CNBC on Tuesday, Sternlicht says he thinks that primary real estate lenders - community and regional banks - are about to get whacked.

"You're going to see a regional bank fail every day, or not — every week, maybe two a week," he said, adding that Fed Chair Jerome Powell's ongoing rate hikes will continue to have consequences for the real estate sector.

"He's got a hard task with a blunt tool, and the consequence is the real estate markets are taking it on the chin because rates rose so fast. We could have handled this, but we couldn't handle it this fast," he said. "The 1.9 trillion of real estate loans, that's a fragile animal right now."

 

[thetub]

That's a hell of a discount.

The bank chatter is heating up again.


Billionaire Barry Sternlicht, Founder, Chairman and CEO of Starwood Capital Group has issued an ominous warning about America's regional banks, which he says will fail at a rate of 'one or two' per week.

Speaking with CNBC on Tuesday, Sternlicht says he thinks that primary real estate lenders - community and regional banks - are about to get whacked.

"You're going to see a regional bank fail every day, or not — every week, maybe two a week," he said, adding that Fed Chair Jerome Powell's ongoing rate hikes will continue to have consequences for the real estate sector.

"He's got a hard task with a blunt tool, and the consequence is the real estate markets are taking it on the chin because rates rose so fast. We could have handled this, but we couldn't handle it this fast," he said. "The 1.9 trillion of real estate loans, that's a fragile animal right now."

Reeg this is their master plan. They could give two shits about the regional banks and are hoping they shit to bed so they can just print more money and gobble them up at discount . And then let their banker buddies take them over... Chase, Wells etc.. Just gonna be 4 or 5 major banks and thats it...

and then switch everything to digital currency and maybe one giant Government bank

 

[regor]

Reeg this is their master plan. They could give two shits about the regional banks and are hoping they shit to bed so they can just print more money and gobble them up at discount . And then let their banker buddies take them over... Chase, Wells etc.. Just gonna be 4 or 5 major banks and thats it...

and then switch everything to digital currency and maybe one giant Government bank

I hope I'm around to participate in the............................

 

[shintoooo]

maybe he knows when the music stops

LMAO. Quality.

 

[2Driver]

That's a hell of a discount.

The bank chatter is heating up again.


Billionaire Barry Sternlicht, Founder, Chairman and CEO of Starwood Capital Group has issued an ominous warning about America's regional banks, which he says will fail at a rate of 'one or two' per week.

Speaking with CNBC on Tuesday, Sternlicht says he thinks that primary real estate lenders - community and regional banks - are about to get whacked.

"You're going to see a regional bank fail every day, or not — every week, maybe two a week," he said, adding that Fed Chair Jerome Powell's ongoing rate hikes will continue to have consequences for the real estate sector.

"He's got a hard task with a blunt tool, and the consequence is the real estate markets are taking it on the chin because rates rose so fast. We could have handled this, but we couldn't handle it this fast," he said. "The 1.9 trillion of real estate loans, that's a fragile animal right now."

I like that guy and he has a lot of good data points, but he has been yelling LIVE GERNADE for well over a year. My investment with him is also off by 20%.

I usually have 4-6 loans out and right now I have one with a repeat borrower and am pretty happy about it. I think the Fed needs to ease up on the 2% inflation mandate. IMO The Fed is going to break something in the economy waiting to get below 2.5% inflation. Stan Druckenmiller's interview yesterday on CNBC was great.

As far as that 2.6 house, that's salesman of the year stuff right there.

 

[DrunkenSailor]

Post a link. Naples is $$$$

2754 Shoreview Dr, Naples, FL 34112 | MLS #224013425 | Zillow

This 1139 square feet Single Family home has 3 bedrooms and 2 bathrooms. It is located at 2754 Shoreview Dr, Naples, FL.

www.zillow.com

One of the cheapest sfr's on the water. We would love to get this one sold. https://www.zillow.com/homes/2754-shore-view-drive-Naples-fl_rb/

 

[Done-it-again]

2754 Shoreview Dr, Naples, FL 34112 | MLS #224013425 | Zillow

This 1139 square feet Single Family home has 3 bedrooms and 2 bathrooms. It is located at 2754 Shoreview Dr, Naples, FL.

www.zillow.com

One of the cheapest sfr's on the water. We would love to get this one sold. https://www.zillow.com/homes/2754-shore-view-drive-Naples-fl_rb/

Direct gulf access is nice. GLWTS

Florida is a place I’ll be when I retire, 20yrs to go.

Father just finished back yard landscaping at his place in Cape Coral.

 

[Orange Juice]

View attachment 1371794

Famous quote from Charlie Munger about Commercial real estate.

“'The buildings don't go away … but the owners do': ”.

I don’t dabble in commercial real estate, but I’m sure this quote has some strange meaning, other than the obvious . The guy was 99 years old. He must know a few things.

 

[CarolynandBob]

We got an offer on our TN place yesterday. All cash. A little low ball offer, with nothing but the house. We were hoping we would sell boat, tractor, sxs and furniture with the house. We countered and then he came back with how much do you want for the boat and furniture. We told him last night. We will see where this ends up.

If he buys boat and furniture and comes up 60k on the offer, we should be good. Have a buyer for sxs, but the tractor may be tough. It is probably worth 12-13k but who knows. Guy wants a quick escrow so I am looking for a consignment place to sell the tractor.

 

[OldSchoolBoats]

Can't believe we are coming up on the 2 year anniversary of this thread!!

 

[HNL2LHC]

We got an offer on our TN place yesterday. All cash. A little low ball offer, with nothing but the house. We were hoping we would sell boat, tractor, sxs and furniture with the house. We countered and then he came back with how much do you want for the boat and furniture. We told him last night. We will see where this ends up.

If he buys boat and furniture and comes up 60k on the offer, we should be good. Have a buyer for sxs, but the tractor may be tough. It is probably worth 12-13k but who knows. Guy wants a quick escrow so I am looking for a consignment place to sell the tractor.

What kind of tractor?

 

[Singleton]

I want to but an rv sooo bad. Around 60k budget but I’m afraid if I buy today in a few months to a year I’ll say dang I could have gotten xyz for 60k. Shitty way to live my life

We went the ToyHauler route since we had a truck already.
Been looking to move into an RV, but my daughter’s travel volleyball schedule is impacting trips.

Each has their pros / cons, but you have to find the time.
RV‘s make arriving late at camp easier vs a tow behind, but cost of entry is higher.

 

[Havasu blue label]

2 years and still waiting

 

[530RL]

2754 Shoreview Dr, Naples, FL 34112 | MLS #224013425 | Zillow

This 1139 square feet Single Family home has 3 bedrooms and 2 bathrooms. It is located at 2754 Shoreview Dr, Naples, FL.

www.zillow.com

One of the cheapest sfr's on the water. We would love to get this one sold. https://www.zillow.com/homes/2754-shore-view-drive-Naples-fl_rb/

That house sold for 489,700 in November of 21. Now it is listed at 1,199,900 two and a half years later.

That is a hell of a sweet gain.

 

[hallett21]

That house sold for 489,700 in November of 21. Now it is listed at 1,199,900 two and a half years later.

That is a hell of a sweet gain.

I assume it’s been remodeled?

 

[CarolynandBob]

What kind of tractor?

2020 Kabota BX2680 with belly mower, brush hog and box blade. I think 160 hrs. Looking it up some are going for 14 ish. Worst case I will probably auction it off.