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

[angiebaby]

Translation- I didn’t know when the peak was, I left significant money on the table, and sold too early. But I did what was best for me, and rely on Zillow to rationalize my ill times decisions.

But will pound my chest and chastise others that are selling after the peak and tell them they are loosing money, knowing nothing about their situation.

No one knows when the peak is going to be, ever. We just make the best decisions we can with the information we have at the time. It's a gamble. He made money. His gamble paid off. He didn't risk waiting too long and losing. He got out when the getting was good. Of course, not everyone is as smart as you. YOU would have done it differently and not left any money on the table, I'm sure.

It sounds like he did a great job with his investments, but what do I know?

 

[PaPaG]

One thing that continues, is the ones who keep trying to convince themself and others that "EVERYTHING" is just fine.

That's just it, everything is not just fine, research will prove that.

 

[hallett21]

NO, I would LIKE and BUY if they did, House I liked in Texas for our 2nd home to be close to some family was on 2+ acres, comped at 500k in January 2019, 375k in 2017. a few months ago house was comped at 975k, we almost bought it at 500k but I just could not make it out there in time to physically see it, who knows if it will happen, I guess no one in 2006 thought prices would ever come down until 07/08 hit and boy did they come down some down 50%........ no way will they crash to that % level again and not expecting it to but to correct back to what I feel comfortable with would be nice. If I could buy it for 550/600k I would pull the trigger. Just an example.

So I guess the question is when do you pull the trigger?

You gotta be honest and say you missed from post #1. And now I have a better idea of where you stood when you made the post. Unloading multiple investment properties at a peak is understandable.

But what’s not factored in is cheap interest rates, rental income, cost of relocating/taking on a new mortgage, tax advantages etc.

There’s a huge gap between owning 10 properties and owning 1-3.

Honest question, after capital gains etc are you happy with selling 12-14 months ago? And where did you put the money?

 

[PaPaG]

LOF you are self professed know it all, I bow down to your knowing ALL about EVERYTHING in EVERY thread posted til they ban you that is lol lol or should I say LOF LOF. I ignored you long ago because of your insistance on contradicting everything anyone says and your idiotic know it all comments BUT since you keep trying to input your idiotic comments and opinion related to things I post I wanted to tag you back. ALL BOW TO LOF lol lol...what a joke you are.

 

[LargeOrangeFont]

No one knows when the peak is going to be, ever. We just make the best decisions we can with the information we have at the time. It's a gamble. He made money. His gamble paid off. He didn't risk waiting too long and losing. He got out when the getting was good. Of course, not everyone is as smart as you. YOU would have done it differently and not left any money on the table, I'm sure.

It sounds like he did a great job with his investments, but what do I know?

You know if he had the same attitude as you, he probably wouldn’t take things so personally when demonstrably proven wrong.

Show me where I said I did it perfectly. I’ll wait. Should be easy for you, all I do is say how smart I am, right?

 

[Gonefishin5555]

the problem with selling all your real estate is you pay taxes and transaction costs and you also left your 3% mortgages behind. That’s a big loss in my books vs where you would be financially if you kept everything and enjoyed all the rent increases. Trying to buy back in now to be at same point as before you need a 30% or more decline. I guess you have offset that somewhat with your stock trading so maybe you are not that far off.

 

[PaPaG]

So I guess the question is when do you pull the trigger?

You gotta be honest and say you missed from post #1. And now I have a better idea of where you stood when you made the post. Unloading multiple investment properties at a peak is understandable.

But what’s not factored in is cheap interest rates, rental income, cost of relocating/taking on a new mortgage, tax advantages etc.

There’s a huge gap between owning 10 properties and owning 1-3.

Honest question, after capital gains etc are you happy with selling 12-14 months ago? And where did you put the money?

I still have time left from the original post even though I was wrong on the level of drop around the US, THAT SAID I had extended my time frame after seeing the trend going much slower than expected and the market annalists research showing later dates than I had thought. I was lucky that during the time 5 of the 7 properties were all rented out at positive cash flow, using all the tax incentives permitted I paid what was required in cap gain but made enough to help retire if I wanted (which I don't). the last 2 properties were a vacation place in Tahoe and a house in BC which I kept empty but had appreciated to double what I paid so I figured cap gain of 15% on one and 25 on the other was worth letting them go and being free of all housing related upkeep. I lost $$ on 5 of the properties by not holding out but a short time later the comps were lower so in the end I am very happy with my decisions. 100% of the money was put in the stock market investment account and has done very well thankfully.

 

[PaPaG]

the problem with selling all your real estate is you pay taxes and transaction costs and you also left your 3% mortgages behind. That’s a big loss in my books vs where you would be financially if you kept everything and enjoyed all the rent increases. Trying to buy back in now to be at same point as before you need a 30% or more decline. I guess you have offset that somewhat with your stock trading so maybe you are not that far off.

Wife is a broker in Cali and Nevada, and we owned a property management firm so management fees were nothing and we only paid 2% commission to the other brokers on all the properties, 2 of them were personal and I only paid cap gain taxes on the Tahoe condo, the other was the house we lived in. The 5 others were rentals and I was so tired of dealing with renters and repairs along with building the river pad I wanted out. PS I owed nothing on all 7 locations. CPAs were not happy with that. Anyway, I Was doing so well in the stock market I dumped all the money there and have done 10 fold of what I would have made with rentals and no headaches SO FAR. lol.

 

[hallett21]

Wife is a broker in Cali and Nevada, and we owned a property management firm so management fees were nothing and we only paid 2% commission to the other brokers on all the properties, 2 of them were personal and I only paid cap gain taxes on the Tahoe condo, the other was the house we lived in. The 5 others were rentals and I was so tired of dealing with renters and repairs along with building the river pad I wanted out. PS I owed nothing on all 7 locations. CPAs were not happy with that. Anyway, I Was doing so well in the stock market I dumped all the money there and have done 10 fold of what I would have made with rentals and no headaches SO FAR. lol.

Other than liquidating for retirement I gotta imagine the rental income would have at least maintained or increased.

Good for you either way. But I am curious after taxes, missed rental income and stock market gains how it all shook out.

Today the S&P is hovering at a hair under 9% on the 52 week chart.

 

[PaPaG]

Other than liquidating for retirement I gotta imagine the rental income would have at least maintained or increased.

Good for you either way. But I am curious after taxes, missed rental income and stock market gains how it all shook out.

Today the S&P is hovering at a hair under 9% on the 52 week chart.

The rental rates on 3 of the investment properties went up 25% about 6 months after I sold, the other 2 roughly 20-30% about a year, BUT I had long term tenants some as long as 8 years and I would not increase their rents due to their great long term rental history and they were good people, that is future money lost. Since we owned the management company as well we had to do all the management crap associated with it, I had multiple vendors to handle almost anything but I got so sick of them not being able to come out ASAP for non emergencies I had to deal with a lot of crap late at night. I got so sick of dealing with "The shower door came off track, please fix it water is everywhere" at 10pm or the water heater broke water is everywhere and the plumbers in Vegas would say ok be there in the AM, so as OCD as I am with stuff I had to go there ASAP and make sure water was turned off and did not damage the property especially with the properties being 30-40 minutes away I said I am done. As far as the market goes, I only either day trade or if I get caught in a downturn I try to complete my trades within a week max hopefully. It has honestly done at least 10x of what my net rental income was combined so it all worked out well, wife is happy I no longer complain about having to go fix things for other people in the middle of the night.

 

[angiebaby]

Other than liquidating for retirement I gotta imagine the rental income would have at least maintained or increased.

Probably, but at some point, having 5 rental properties might become a PITA that someone just doesn't want to deal with anymore. Renters tearing up your property, not paying rent, the state saying they don't have to pay rent, repairs, collections, general maintenance. Those are all costs also, even if not financial costs, they cost stress and anxiety sometimes. Stock market, CDs, Treasuries may not make quite as much $$ , but it may be more beneficial to physical and mental health for someone. Lower blood pressure and stress have value, perhaps more than money.

 

[OldSchoolBoats]

I actually do when anyone attacks me, I like varying opinions when not presented in insult or attack mode, but a select few like to insult in the past and continue so I respond in kind.

Geezus man, nobody is attacking you with insults. You shot your shot and it didn't go in.

The only thing that is certain in this thread is that you and a few others were wrong.

Instead of saying you fucked up and we were right, you are "pivoting" on your timeline.

See you next June.

 

[Looking Glass]

My 2005 silverado is only 50 bucks a month for full coverage... I don't think thats gonna do much to change anything by getting rid of it. I would probably get rid of my 2019 Ram first and throw a crate 6L in the old girl when she gives up the farm.

WHAT COMPANY WRITES YOUR PU FULL COVERAGE FOR $50.00? You might want to check the paperwork and confirm that, as I can't believe that Policy and Price.

IF, so I am changing Insurance Companies.

 

[Looking Glass]

I'm not sure about that but it wouldn't surprise me with how much people hate Trump.

I think Biden beats trump unfortunately.

I'm kind of wishing that the charges against trump make him "unavailable".

I wish the guy would just head off into the sunset at this point so we can start fresh with a quality option.

RIGHT!!, " Start Fresh with A Quality Option."




Fill me in on the List you are choosing from. Between, Idiots and "Rino's, the "FIELD" is Breathtaking.

 

[Looking Glass]

Geezus man, nobody is attacking you with insults. You shot your shot and it didn't go in.

The only thing that is certain in this thread is that you and a few others were wrong.

Instead of saying you fucked up and we were right, you are "pivoting" on your timeline.

See you next June.

Why didn't you "Stay" with your main Gig then, and not start something else?

 

[hallett21]

Probably, but at some point, having 5 rental properties might become a PITA that someone just doesn't want to deal with anymore. Renters tearing up your property, not paying rent, the state saying they don't have to pay rent, repairs, collections, general maintenance. Those are all costs also, even if not financial costs, they cost stress and anxiety sometimes. Stock market, CDs, Treasuries may not make quite as much $$ , but it may be more beneficial to physical and mental health for someone. Lower blood pressure and stress has value, perhaps more than money.

Just trying to keep the conversation “honest”

 

[OldSchoolBoats]

Why didn't you "Stay" with your main Gig then, and not start something else?

Smart money bro........

The slow down in mortgage was a given back in November of 2021. Didn't mean that housing prices would drop, which is what this thread is all about.

I still do loans and still make a damn good income off of them, just decided to deploy the money we made into something else.

 

[LargeOrangeFont]

Why didn't you "Stay" with your main Gig then, and not start something else?

Probably because he has drive and ambition to learn and advance his life and diversify his stream of income.

Unlike some people who don’t even have the drive to learn how to copy and paste text.

 

[jeepdog]

I love this thread

 

[riverroyal]

To much too read. Our house hits MLS in a few days. Already signed for another.

If not now, when? You can ask that every month for the rest of your life, then your dead.
Stay tuned...

 

[LargeOrangeFont]

To much too read. Our house hits MLS in a few days. Already signed for another.

If not now, when? You can ask that every month for the rest of your life, then your dead.
Stay tuned...

Get it! Good luck!

 

[OldSchoolBoats]

Nobody has a crystal ball, bottom line. Fact of the matter is that this thread started as another doom and gloom RE opinion that didn't come to fruition, like so many in the past. For those that have been here for awhile, RE Armageddon was supposed to happen in 2015 according to NGE (who no longer posts here). Meanwhile people have continued to buy and sell houses, gaining equity along with locking in their biggest expenditure at historicly low rates. Market is strong and because of strict underwriting standards, coupled with low interest rates, it's going to be tough to see an inventory influx that brings us back down to pre pandemic levels.

If you are sitting on money waiting for an RE crash then you screwed yourself out of much better returns.

 

[HNL2LHC]

Nobody has a crystal ball, bottom line. Fact of the matter is that this thread started as another doom and gloom RE opinion that didn't come to fruition, like so many in the past. For those that have been here for awhile, RE Armageddon was supposed to happen in 2015 according to NGE (who no longer posts here). Meanwhile people have continued to buy and sell houses, gaining equity along with locking in their biggest expenditure at historicly low rates. Market is strong and because of strict underwriting standards, coupled with low interest rates, it's going to be tough to see an inventory influx that brings us back down to pre pandemic levels.

If you are sitting on money waiting for an RE crash then you screwed yourself out of much better returns.

So true Joe. Reminds me of a few friends that are saving up to buy a house cash so they don’t have a mortgage. Been 30 years and they are still paying rent that just keeps being raised each year.

My mindset has always been buy when good for the family good or bad….…..buy another when possible and rent the last one…….NEVER sell anything. Was hoping to do every 5 years. Ended up being every10 years. Our rents have doubled and the home values have quadrupled in the 15+ years. Just gotta do it and don’t look back.

 

[CarolynandBob]

The rental rates on 3 of the investment properties went up 25% about 6 months after I sold, the other 2 roughly 20-30% about a year, BUT I had long term tenants some as long as 8 years and I would not increase their rents due to their great long term rental history and they were good people, that is future money lost. Since we owned the management company as well we had to do all the management crap associated with it, I had multiple vendors to handle almost anything but I got so sick of them not being able to come out ASAP for non emergencies I had to deal with a lot of crap late at night. I got so sick of dealing with "The shower door came off track, please fix it water is everywhere" at 10pm or the water heater broke water is everywhere and the plumbers in Vegas would say ok be there in the AM, so as OCD as I am with stuff I had to go there ASAP and make sure water was turned off and did not damage the property especially with the properties being 30-40 minutes away I said I am done. As far as the market goes, I only either day trade or if I get caught in a downturn I try to complete my trades within a week max hopefully. It has honestly done at least 10x of what my net rental income was combined so it all worked out well, wife is happy I no longer complain about having to go fix things for other people in the middle of the night.

That is why I got rid of the 4 rental properties we had years ago. So with me looking at having 1 rental either part time for snowbirds or full time I am wanting to have a property management company handle it. On the previous 4 properties I was too cheap to pay someone to do it. This time there is no way I am doing it.

From your experience what it the average cost for management? I know this will be a little different depending on where it is. What should I have in reserve to handle problems? I was thinking 10k set aside, but would also depend on the age of the property and condition. As an example: If the roof needs to be replaced in about 5 years at a cost of 20k I would put some of the rental income in an account each month to pay for it when it is due. How did you handle things like that?

The only way I won't use a management company is if we end up buying a place in Naples, Fl. My dad is a snowbird there for about 8 months a year. I would just rent it to him for the 8 months and keep it unoccupied for the other 4 months. He would handle any issues that come up, which I would pay for. He is 77, so who knows how long that would work out.

 

[PaPaG]

Geezus man, nobody is attacking you with insults. You shot your shot and it didn't go in.

The only thing that is certain in this thread is that you and a few others were wrong.

Instead of saying you fucked up and we were right, you are "pivoting" on your timeline.

See you next June.

WOW, wrong again. I had long ago stated the timeline was off and I had extended it to what the experts were saying, Yes real experts not so called experts. They know more than you or I. "Pivoting on timeline" are you truly in an actual business and financial services? Adjusting timelines is such a normal part, I am sure you have adjusted your timelines on many many projects, if not I think you are not being honest. LOL.

 

[LargeOrangeFont]

WOW, wrong again. I had long ago stated the timeline was off and I had extended it to what the experts were saying, Yes real experts not so called experts. They know more than you or I. "Pivoting on timeline" are you truly in an actual business and financial services? Adjusting timelines is such a normal part, I am sure you have adjusted your timelines on many many projects, if not I think you are not being honest. LOL.

The revisionist history here is great.

You finally adjusted your timeline 48 hours ago. Everyone sees that but you.

For reference, this quote from you was Thursday…

 

[Sportin' Wood]

Your Friends with the RE brokerage have probably seen a huge slow down in business. It is no secret that the RE industry is hurting due to rates and the inventory issues. Maybe managing properties and dealing with people wasn't what they wanted to do anymore. The laws are so tenant friendly anymore, owning an investment property could be more of a strain than a benefit. We have a customer right now that is in the eviction process with her tenant. Hasn't collected a rent check in over a year.

Maybe, but I don't get the feeling that they are liquidating for those reasons. The husband-wife team has been managing rental properties since we were in our late twenties. and they seem to still be busier than they would like; they have owned their brokerage for as long as I can remember. I'm sure if I asked they would be happy to share, but it's not really any of my business, I just suspect they see some opportunities that they want to prepare for. I just thought it was interesting.

 

[PaPaG]

That is why I got rid of the 4 rental properties we had years ago. So with me looking at having 1 rental either part time for snowbirds or full time I am wanting to have a property management company handle it. On the previous 4 properties I was too cheap to pay someone to do it. This time there is no way I am doing it.

From your experience what it the average cost for management? I know this will be a little different depending on where it is. What should I have in reserve to handle problems? I was thinking 10k set aside, but would also depend on the age of the property and condition. As an example: If the roof needs to be replaced in about 5 years at a cost of 20k I would put some of the rental income in an account each month to pay for it when it is due. How did you handle things like that?

The only way I won't use a management company is if we end up buying a place in Naples, Fl. My dad is a snowbird there for about 8 months a year. I would just rent it to him for the 8 months and keep it unoccupied for the other 4 months. He would handle any issues that come up, which I would pay for. He is 77, so who knows how long that would work out.

When we had the business, the average management company charged from 7-12% depending on the their company policies. Most in Nevada seemed to charge 6-10% max for homes/condos, our firm also handled a few 200-350 unit apartment complexes, those were charged at 2.5-4% industry standard charge. If we did not own a firm at the time we would positively had an outside friend in the business do it for us, they do tend to spend a little more money to get things fixed but much less headache. My Dad taught us from childhood to always have backup money for emergencies, he used to say if you do not have at least 6 months of living expenses including rent or house payment, insurance, utilities, food, fuel, and emergency funds you can be in danger of losing everything. I extended that idea to 3 years of backup plus some.. I used to take 50% of my net revenue from all the rentals and put them in an emergency fund for each property to keep things separate, after a few years I paid all investments off so no mortgages and that saved a ton, so other than insurance, warranty deductibles along with turn costs if I had any plus misc. expenses it worked out great.
Your situation sounds ideal, if you want to visit your potential place your Dad is there so no worries, when no one is there, there are firms that can easily do property checks on a weekly, biweekly or monthly basis to check for damages or issues. I personally would do it on a weekly basis (a lot can happen in a week). If you really want to feel comfortable (just my opinion) I would put away 20k if able and almost anything that can happen can be paid for without worry.

 

[Sportin' Wood]

I think I posted this same statement maybe 50-75 pages ago, but it may be worth saying again.

It's too bad that these conversations have to turn into a competition. I imagine there are a few people like me trying to learn from people willing to share how they have found success. One of the best things about RDP is that we have community members of all types, but most have found some level of success.

We don't get the benefit of tone and body language when we communicate in this medium, so choosing words wisely is all we have.

Thanks

 

[mesquito_creek]

WHAT COMPANY WRITES YOUR PU FULL COVERAGE FOR $50.00? You might want to check the paperwork and confirm that, as I can't believe that Policy and Price.

IF, so I am changing Insurance Companies.

State Farm….

 

[LargeOrangeFont]

State Farm….
View attachment 1275704

My Mazda is less than that as well on a standalone policy.

 

[BHC Vic]

I think I posted this same statement maybe 50-75 pages ago, but it may be worth saying again.

It's too bad that these conversations have to turn into a competition. I imagine there are a few people like me trying to learn from people willing to share how they have found success. One of the best things about RDP is that we have community members of all types, but most have found some level of success.

We don't get the benefit of tone and body language when we communicate in this medium, so choosing words wisely is all we have.

Thanks

I couldn’t agree more. Some of the replies are so childish and such a turn off. Could be such a good conversation but the always have to be right guys and get the last word guys kill it. Such a bummer

 

[cofooter]

I couldn’t agree more. Some of the replies are so childish and such a turn off. Could be such a good conversation but the always have to be right guys and get the last word guys kill it. Such a bummer

Agree, you got to sort through the bullshit and childish bickering to find some good information, I'm all in when the market makes sense it's just a matter of timing, but it will happen IMO.

 

[CarolynandBob]

When we had the business, the average management company charged from 7-12% depending on the their company policies. Most in Nevada seemed to charge 6-10% max for homes/condos, our firm also handled a few 200-350 unit apartment complexes, those were charged at 2.5-4% industry standard charge. If we did not own a firm at the time we would positively had an outside friend in the business do it for us, they do tend to spend a little more money to get things fixed but much less headache. My Dad taught us from childhood to always have backup money for emergencies, he used to say if you do not have at least 6 months of living expenses including rent or house payment, insurance, utilities, food, fuel, and emergency funds you can be in danger of losing everything. I extended that idea to 3 years of backup plus some.. I used to take 50% of my net revenue from all the rentals and put them in an emergency fund for each property to keep things separate, after a few years I paid all investments off so no mortgages and that saved a ton, so other than insurance, warranty deductibles along with turn costs if I had any plus misc. expenses it worked out great.
Your situation sounds ideal, if you want to visit your potential place your Dad is there so no worries, when no one is there, there are firms that can easily do property checks on a weekly, biweekly or monthly basis to check for damages or issues. I personally would do it on a weekly basis (a lot can happen in a week). If you really want to feel comfortable (just my opinion) I would put away 20k if able and almost anything that can happen can be paid for without worry.

Thank you. What ever we buy will not have a mortgage. If the Naples thing happens 2 brothers live there and can check on it weekly. 20k is definitely doable.

My wife and I are savers, so we have had an emergency fund for a long time. Not 3yrs , but about 9 months, however we are retired so no chance of losing a job. My wife has a great pension and we don’t spend all of that every month, although with inflation we haven’t been saving as much of that as we use to. FJB

 

[LargeOrangeFont]

I think I posted this same statement maybe 50-75 pages ago, but it may be worth saying again.

It's too bad that these conversations have to turn into a competition. I imagine there are a few people like me trying to learn from people willing to share how they have found success. One of the best things about RDP is that we have community members of all types, but most have found some level of success.

We don't get the benefit of tone and body language when we communicate in this medium, so choosing words wisely is all we have.

Thanks

Start a better one. Lay out your rules of engagement. Those that can’t follow, request they be ejected from the thread.

I’ve long been a proponent of a sub forum where the thread creator could curate their own thread’s content so we could have better conversations.

 

[yuppie]

Are we still holding onto our hats?

Just curious about a few things out here in Havasu:

- Real Estate: With the Riveria being built out, the houses up in "The Foothills" and surrounding area and the View Point Estates, it seems like there is a ton of new construction going up.
- KHII Airport: What's the deal with Desert Skies? Hearing it was sold or a portion of it was sold, heard they lost their fuel rights a while ago. Can you get Jet-A fuel from the city's FBO at KHII? Also heard that the airport was approved by the city to build out 55 acres for new hangars, but the process of actually building a hangar is in a state of limbo right now because nothing is happening just yet. Is the city waiting for something? Not approving it?
- English Village Sale: With that new high-end hotel going in, and the above two points, it seems like this city will be changing a lot over the next couple years.

My biggest question is: Where is the opportunity at in Havasu?

 

[Orange Juice]

Are we still holding onto our hats?

Just curious about a few things out here in Havasu:

- Real Estate: With the Riveria being built out, the houses up in "The Foothills" and surrounding area and the View Point Estates, it seems like there is a ton of new construction going up.
- KHII Airport: What's the deal with Desert Skies? Hearing it was sold or a portion of it was sold, heard they lost their fuel rights a while ago. Can you get Jet-A fuel from the city's FBO at KHII? Also heard that the airport was approved by the city to build out 55 acres for new hangars, but the process of actually building a hangar is in a state of limbo right now because nothing is happening just yet. Is the city waiting for something? Not approving it?
- English Village Sale: With that new high-end hotel going in, and the above two points, it seems like this city will be changing a lot over the next couple years.

My biggest question is: Where is the opportunity at in Havasu?

It's always been an inexpensive winter getaway, but it's too hot for most year around.

If I were opening up a business in Havasu, it would be a huge RV resort, on some inexpensive land…..a lake view would be nice. Then shut it down after Memorial Day weekend, and reopen Labor Day.

 

[THE WIDGE]

Interesting… came across these to city videos, city put them out this past month.

 

[Cdog]

I like this guy

 

[LargeOrangeFont]

I like this guy

"Fake gurus and charlatans come in all shapes and sizes, don't listen to them." "They have been predicting a crash for years" "These people view home prices like day traders trading meme stocks and Dogecoin"

It's like he's talking directly to The RDP Financial Armageddonists.

I like him too.

 

[zhandfull]

Mortgage rates in the 8’s

 

[Cdog]

 

[Englewood]

This is why we haven’t seen a crash yet…

 

[bentprops]

This is why we haven’t seen a crash yet… View attachment 1280432 Yes if you account for all the paid off homes. Also black rock is still getting 2% money.

 

[LargeOrangeFont]

23% of homes in America are owned free and clear.

If yore home is paid off, you don't have a mortgage rate. If your home is paid off you are unlikely to move into a situation where you will have an 8% mortgage rate.

 

[zhandfull]

I need a home equity loan to buy a Speed Car cash. Rates matter! That damn car better last 30 years is all I have to say.

 

[zhandfull]

23% of homes in America are owned free and clear.

If yore home is paid off, you don't have a mortgage rate. If your home is paid off you are unlikely to move into a situation where you will have an 8% mortgage rate.

I’m actually hearing refinancing are up.

 

[Done-it-again]

23% of homes in America are owned free and clear.

If yore home is paid off, you don't have a mortgage rate. If your home is paid off you are unlikely to move into a situation where you will have an 8% mortgage rate.

How many of those homes that are paid off and are owned by Black Rock , etc. for rentals? Those people rents change yearly and will only go up.

 

[regor]

23% of homes in America are owned free and clear.

If yore home is paid off, you don't have a mortgage rate. If your home is paid off you are unlikely to move into a situation where you will have an 8% mortgage rate.

US Existing Home Sales Suffer Second Weakest Summer Ever​

...and mortgage rates are only going to make it worse from here.

THU SEP 21, AT 7:10 AM


Famine time in the Real Estate industry.

 

[attitude]

How many of those homes that are paid off and are owned by Black Rock , etc. for rentals? Those people rents change yearly and will only go up.

Rents are dropping in the IE and especially Phoenix, the amount of rentals that have been sitting for multiple months with price drops is crazy. Homes in Phoenix are sitting at pre pandemic pricing and still vacant.