I know that house. The layout is weird and needs a lot of work. The work done on it is fair at best. Pool is a small fiberglass as well
Correct
That's basically on a freeway too...When I can get a pool/rv home for 500k, I'm buying as many as I can.
I sure did...$455k seems like a great deal
Great, let me know when rates are in the mid 2% range. Would like to refinance.
End of the year snapshot from my perspective.
1. Housing market is falling at fastest pace since 2008. https://www.forbes.com/advisor/mortgages/real-estate/housing-market-predictions/
2. Tech layoffs above year 2001 levels. I work in Tech. We are laying off Oracle engineers and hiring MongoDB engineers
3. 2022 Consumer credit card debt nears $1 trillion dollars (925B to be exact) for first time. https://www.lendingtree.com/credit-cards/credit-card-debt-statistics/ Think that through for a minute
Meanwhile the Fed says we MIGHT see a slight recession in 2023. I think not. We are either on the cusp of a recession or in a recession. Stock market is not doing so well today since the Fed hiked the rate yesterday. Probably a coincidence. Hold on to your hats indeed in 2023.
View attachment 1180690
I'm looking forward to the purge. Tic tock...................Ron Paul: Mother Of All Economic Crisis Will Lead To "Social Unrest & Violence"
...staggering amounts of debt held by individuals, businesses, and the government will soon lead to the “mother of all economic crises.”
WED DEC 14, AT 6:01 AM
But Ron Paul is never correct...........................
But But But But....how can that be....housing is just adjusting back to what it should be and no big deal if interest rates have doubled or even tripled in some cases (as of today reported 30 year fixed lowered a bit to an average of 6.3/6.5%), no worries that 75% or more of folks cannot afford to buy a house right now, and layoffs are increasing but that is nothing to worry about, and and and........of course I am making fun of the naysayers and agreeing with you on your points 100%....I also personally feel once the 2 year treasury yield went higher than the 10 year for more than a few months (I think about 5 months now) we are either entering or soon to be in a recession. Hat holding for the intelligent has already begun.....End of the year snapshot from my perspective.
1. Housing market is falling at fastest pace since 2008. https://www.forbes.com/advisor/mortgages/real-estate/housing-market-predictions/
2. Tech layoffs above year 2001 levels. I work in Tech. We are laying off Oracle engineers and hiring MongoDB engineers
3. 2022 Consumer credit card debt nears $1 trillion dollars (925B to be exact) for first time. https://www.lendingtree.com/credit-cards/credit-card-debt-statistics/ Think that through for a minute
Meanwhile the Fed says we MIGHT see a slight recession in 2023. I think not. We are either on the cusp of a recession or in a recession. Stock market is not doing so well today since the Fed hiked the rate yesterday. Probably a coincidence. Hold on to your hats indeed in 2023.
View attachment 1180690
The funniest part of this thread is all the Naysayers that are financial and real estate investing experts saying OH that price was just to high, or inflated and now it adjusted so no hat holding needed and no drop, or pointing out some house in some of the hottest parts of the country selling for a high price and ignoring the rest of the country and financial markets, any excuse to deny the facts. I cannot help but laugh at those comments. IT has just begun....if anyone follows the stock market and actual financial news and reports it is clear as can be that debt is increasing by leaps and bounds, mortgage rates have gone up dramatically and a lot of folks (maybe not the real estate and financial experts here on RDP) but a lot throughout the country have started to suffer and it is only getting worse. Hat holding still suggested because the gusts have started and going to continue for another year or two.
Schoolsfirst 7/1 ARM is 4.75%. I'd do that loan and then look at jumping to a 15yr when the rates drop.
Not directed at your firm or Lake Havasu in general, they are directed at the Entire US in general and where we are heading. My RDP expert comment was directed at the the Naysayers that had attacked vs discussed, they know who they are, I should have been clearer. There will be pockets in our country that are doing well, there are more that are not, the economy is entering or is in a recession, COVID IS OVER, things have changed, prices are dropping around the US, rates are double, triple from what they used to be at their lowest in the past 2-3 years, stock market is in correction, credit card debt is at its highest closing in on 1 TRILLION Dollars, highest it has ever been, things have changed, and are getting worse around the country except for some hot spots, facts are facts. Once housing catches up to the interest rate hikes we will see the true results. It would be interesting to see what your reports look like, what asking and selling prices were every 3 months for the last 3 years in Havi as an example to show increased prices, sales, slowdown, drops. etc... In my future posts I will make sure to not state RDP and just state Naysayers, that would clear it up.
Those types are the first ones to go broke. The big RE trainers are telling these agents to make those videos. Most agents don't understand basic economics.
Things aren't moving because you have sellers who still think it is 2021 and don't want to negotiate. Also, Q4 is literally THE SLOWEST quarter for RE in normal markets. Lets revisit this in Spring 2023 when rates are in the high 4's - low 5's and buying season is upon us.
See that is where you are wrong, facts are all I go by, not emotion, not dreaming, not worried about sales or commission or what loan I write, my mind changes all the time when facts change, keeping my eyes open watching the direction we are heading in every single day tells me all I need to know. And I am glad you stated "Their minds are made up, they are smarter than everyone"...seems some naysayers should look in the mirror.
So you are saying their prices should drop to start moving sales?
You don't post any facts. All you post are links to MSM articles. You consistently copy and paste articles that go along with your agenda, to try and prove your point.
The run is over hopefully everyone saved
LOL, you are just to funny. MSM really? You must really be a bit blind or in denial about our economy....Don't get offended because backend loan $ is threatened by this post and any factual comment about the slowdown. I read, I watch, I invest. You need to learn how to read and comprehend, read the first post, read my updates on timelines, facts are facts housing is changing every single day and by estimated timeline we will see a nice drop in housing prices as first posted the slowdown is already here....OH and by your other post "Things aren't moving because you have sellers who still think it is 2021 and don't want to negotiate". So you have walked yourself into a corner, on one had you say it is all good, the other hand you say they need to lower the price from what they were to sell.........
That's the first post quoted above. I don't see anything so far that we could point toward to say this post is an incorrect prediction.
How do you know people dont care about their home equity?? are you a mind reader? Everyone I know thinks about their home equity so your false statement does not fly.Keep feeling sorry for the people that bought during the peak because they are laughing all the way to the bank with their sub 3% interest rates. What you morons don't seem to understand is that these people DON'T GIVE A FUCK ABOUT THEIR HOME EQUITY!!!!! How come you can't comprehend that?? These people have shelter, a home to call their own, a place to raise a family and provide a stable lifestyle, all the while, paying less to own their home than to rent it.
Societies view of homeownership shifted during that boom and you guys just can't seem to accept that people aren't concerned with being upside down, if they even are!! Based on the loans that I wrote during that time, the down payments were a lot more than the minimum, so there are a ton of people that aren't close to being upside down.
Lastly, I didn't back myself into any corner at all
Prices have come down, everyone knows that!! So if you price your house like we are still in that anomaly of a market, today, then it isn't going to sell. Seriously, you talk like you are so smart but I am not so sure, since you couldn't comprehend that statement.
Good info. Sounds like so many other areas of the country, how can people deny facts just amazes me.
www.riverdavesplace.com
I never said we were in a bubble, learn to read. People buying homes have slowed BIG TIME only an idiot cannot see that. It is so funny that you assume so much about others just because you are threatened or disagree with a fact. You sound like the liberals that say we have no border issue, naysaying does not make it true.
Here Comes The Job Shock: Philadelphia Fed Admits US Jobs "Overstated" By At Least 1.1 Million
"In the aggregate, 10,500 net new jobs were added during the period rather than the 1,121,500 jobs estimated by the sum of the states"
THU DEC 15, AT 11:44 AM
I've seen a couple in Montana as well. One was an assumable VA loan.In the meantime someone grab their hat and call the wife.. 4 1/2 % seller carry on two fairly priced homes.
Anyone looking for a Seller Carry in Lake Havasu? 4.5%!!
2 Brand New 1900 sq ft 3/2 Single RV Homes. 1 South Lakeside and 1 Residential Estates Area. One is $729,900 and one is $719,900. Great deal for someone. Seller is willing to carry at 4.5% for 5 years (terms negotiable) with 20% down. Last Private Loan we did was 7% and I’ve seen them as...
RD
finance.yahoo.com
