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

[Boatymcboatface]

Update on this one!! I made a mistake because the agent has 2 listing and I thought this was the Anaheim one for $800k, but it is not. This one is actually in Santa Ana and is a 2bed 2bath 528 SF fixer. She had it listed for $449,900

https://www.realtor.com/realestateandhomes-detail/1918-Halladay-St_Santa-Ana_CA_92707_M21139-87615

She went into escrow on it this week. They got 26 offers and the winning offer is $100k over list.

With the price of boat/rv storage in OC you could pay your mortgage no problem with that place.

 

[LargeOrangeFont]

With the price of boat/rv storage in OC you could pay your mortgage no problem with that place.

Payment is $3300 with 20% ($110k) down.

 

[OldSchoolBoats]

With the price of boat/rv storage in OC you could pay your mortgage no problem with that place.

Did you happen to catch the price it last sold for 53 years ago, in the link?

 

[LargeOrangeFont]

Did you happen to catch the price it last sold for 53 years ago, in the link?

For $14k.

I’m sure they are holding their hats for selling after April 2022 and leaving money on the table.

 

[Boatymcboatface]

Did you happen to catch the price it last sold for 53 years ago, in the link?

Yeah pretty cool my uncle bought his house in Laguna Niguel on the hill off crown valley parkway for 40k my cousin still lives there.

 

[Boatymcboatface]

Payment is $3300 with 20% ($110k) down.

3 boats or motorhomes on the lot cuts that mortgage in half. Then charge extra for 24hr security (you living in the house) 1 ADU and your making $200 a month!





















Hypothetically.

Man I’d make a great agent who wouldn’t want that place after my sales pitch!

 

[angiebaby]

Update on this one!! I made a mistake because the agent has 2 listing and I thought this was the Anaheim one for $800k, but it is not. This one is actually in Santa Ana and is a 2bed 2bath 528 SF fixer. She had it listed for $449,900

https://www.realtor.com/realestateandhomes-detail/1918-Halladay-St_Santa-Ana_CA_92707_M21139-87615

She went into escrow on it this week. They got 26 offers and the winning offer is $100k over list.

That makes a lot more sense. Gorgeous fireplace and citrus trees in the backyard. Can you guys use wood fireplaces in SoCal? We could because it was our only source of heat in Menifee.

 

[RiverDave]

That makes a lot more sense. Gorgeous fireplace and citrus trees in the backyard. Can you guys use wood fireplaces in SoCal? We could because it was our only source of heat in Menifee.

I thought you couldn’t build them.. but you could still use them?

 

[hallett21]

I thought you couldn’t build them.. but you could still use them?

Correct you can use existing but can’t do a new build with them.

Still not supposed to burn on a red flag day.

 

[angiebaby]

I thought you couldn’t build them.. but you could still use them?

When we left in 2014, Riverside County had "no burn days" that they would not allow you to use your fireplace due to the inversion. You were supposed to watch the news or go to the RivCo Fire website or something. I never did. We just burned every day all winter long because it was our only heat source. Huge fireplace and a separate wood stove. I figured the AQMD may have tightened it down even more since then. Actually, Reno had the same rule. Being the rebel I am, I never paid much attention to it, even though we had forced heat there. We used the FAU most of the time, but I've had wood fires for warmth my entire life, so we often had one just for the enjoyment and ambiance of it. Plus Jeff had a wood stove in his shop in Reno also.

 

[Orange Juice]

I thought you couldn’t build them.. but you could still use them?

I've got a fireplace. I used it a few times when I moved in, but it stinks up the entire house when I burn. Gas is okay, and we use gas at our Flagstaff cabin, but in Phoenix, it's just not worth having one.
On new years Eve last year, our neighborhood had 100’ visibility from all the backyard Bon fires.

 

[Sportin' Wood]

When we left in 2014, Riverside County had "no burn days" that they would not allow you to use your fireplace due to the inversion. You were supposed to watch the news or go to the RivCo Fire website or something. I never did. We just burned every day all winter long because it was our only heat source. Huge fireplace and a separate wood stove. I figured the AQMD may have tightened it down even more since then. Actually, Reno had the same rule. Being the rebel I am, I never paid much attention to it, even though we had forced heat there. We used the FAU most of the time, but I've had wood fires for warmth my entire life, so we often had one just for the enjoyment and ambiance of it. Plus Jeff had a wood stove in his shop in Reno also.

Angie just enjoys making me stack and manage firewood. I would prefer to push a button, and heat magically happens. I also have had wood heat my whole life, mainly because we were too poor for that fancy heated air stuff. Gas heat or radiant floor heat in my shop is my life's dream.

Of course, I say all this, yet I still have a habit of collecting firewood-like currency.

 

[PlanB]

Speaking of wood stoves, I just spent the last two days installing a new wood burning stove in my mom's house. Two story house and replaced everything. Replacing the pipe in a two story house going through the second floor, the roof and through chase on the roof is a PITA!

 

[riverroyal]

We just sold and bought. Like moved 5 days ago.
I need to let it all settle in....I have a lot to say on this topic.
I will say I aged 10 years in 2 months. It's not a fun experience at all.
I dislike humans more today than I did 2 months ago. Certain humans.

 

[DWC]

We just sold and bought. Like moved 5 days ago.
I need to let it all settle in....I have a lot to say on this topic.
I will say I aged 10 years in 2 months. It's not a fun experience at all.
I dislike humans more today than I did 2 months ago. Certain humans.

Sounds like we need to go for a ride, have a couple beers and talk about it.

 

[HNL2LHC]

Angie just enjoys making me stack and manage firewood. I would prefer to push a button, and heat magically happens. I also have had wood heat my whole life, mainly because we were too poor for that fancy heated air stuff. Gas heat or radiant floor heat in my shop is my life's dream.

Of course, I say all this, yet I still have a habit of collecting firewood-like currency.

So Jeff you saying that your user name should be changed from @Sportin' Wood to @burnin Wood?

 

[BHC Vic]

We just sold and bought. Like moved 5 days ago.
I need to let it all settle in....I have a lot to say on this topic.
I will say I aged 10 years in 2 months. It's not a fun experience at all.
I dislike humans more today than I did 2 months ago. Certain humans.

I’m very curious to hear your experience.

 

[77charger]

My old house had a wood fireplace was nice. These days I just move the fire to the backyard though. Either a smudgepot or fire ring.

Yes we have them no burn days here to in az don’t think any obey it though.

 

[JL95]

Never forget the no burn days are only for folks above the poverty level. If you have no dollars you can burn all you want

"South Coast AQMD’s No-Burn Day alerts do not apply to mountain communities above 3,000 feet in elevation, the Coachella Valley or High Desert, homes that rely on wood as a sole source of heat, low income households and those without natural gas service. Gas and other non-wood burning fireplaces are also exempt"

 

[240Hallett]

Never forget the no burn days are only for folks above the poverty level. If you have no dollars you can burn all you want

"South Coast AQMD’s No-Burn Day alerts do not apply to mountain communities above 3,000 feet in elevation, the Coachella Valley or High Desert, homes that rely on wood as a sole source of heat, low income households and those without natural gas service. Gas and other non-wood burning fireplaces are also exempt"

Because poor people smoke is not as toxic.

 

[River Dirt 2]

No wood burning fireplaces…save the planet!

9505 Gloaming, Beverly Hills, 90210

Property 9505 Gloaming, Beverly Hills, 90210 has 8 bedrooms, 20 bathrooms with 30610 square feet.

www.therdpteam.com

 

[Sportin' Wood]

So Jeff you saying that your user name should be changed from @Sportin' Wood to @burnin Wood?

No, I have plenty of wood to sport; no need to bring burning into the title.

 

[RiverDave]

So if they rates drop.. how do you guys think that will affect house prices?

 

[LargeOrangeFont]

So if they rates drop.. how do you guys think that will affect house prices?

Pray they don’t for awhile.

 

[hallett21]

So if they rates drop.. how do you guys think that will affect house prices?

I think we get a short pump in prices/sales. But if rates are dropping that means we’re in trouble recession wise.

 

[RiverDave]

I think we get a short pump in prices/sales. But if rates are dropping that means we’re in trouble recession wise.

So you believe prices will go up further? But temporarily

 

[hallett21]

So you believe prices will go up further? But temporarily

I think that if rates went from 8-6% (just random numbers) a bunch of buyers are now “qualified” and demand will increase.

But there will be plenty of people who don’t want to sell and give up their 2-3% rate.

So I don’t think supply will increase by much.


My question is what will cause rates to come down in the short term? The Fed seems to be eluding to rate hikes come 2024. My guess is that rates will come down when the economy hits a point that people can’t afford to buy homes at all time highs.

I would still buy property today, tomorrow or next year if the numbers worked for me. I’m not waiting for a rug pull.

 

[THE WIDGE]

I think that if rates went from 8-6% (just random numbers) a bunch of buyers are now “qualified” and demand will increase.

But there will be plenty of people who don’t want to sell and give up their 2-3% rate.

So I don’t think supply will increase by much.


My question is what will cause rates to come down in the short term? The Fed seems to be eluding to rate hikes come 2024. My guess is that rates will come down when the economy hits a point that people can’t afford to buy homes at all time highs.

I would still buy property today, tomorrow or next year if the numbers worked for me. I’m not waiting for a rug pull.

Agreed, doesn’t sound like rates are coming down soon.

 

[LargeOrangeFont]

I think that if rates went from 8-6% (just random numbers) a bunch of buyers are now “qualified” and demand will increase.

But there will be plenty of people who don’t want to sell and give up their 2-3% rate.

So I don’t think supply will increase by much.


My question is what will cause rates to come down in the short term? The Fed seems to be eluding to rate hikes come 2024. My guess is that rates will come down when the economy hits a point that people can’t afford to buy homes at all time highs.

I would still buy property today, tomorrow or next year if the numbers worked for me. I’m not waiting for a rug pull.

You are spot on. If rates dropped from 8 to 6 in the next 3 months the $1M house would jump to $1.3. The DOW would hit 40k and inflation would surge.

 

[Orange Juice]

So you believe prices will go up further? But temporarily

Location Location Location.

What’s the cheapest lot available on the Colorado River, between Parker and Bullhead City.

 

[zhandfull]

Location Location Location.

What’s the cheapest lot available on the Colorado River, between Parker and Bullhead City.

Good question. Might have to expand on what on the Colorado River means.

 

[HNL2LHC]

You are spot on. If rates dropped from 8 to 6 in the next 3 months the $1M house would jump to $1.3. The DOW would hit 40k and inflation would surge.

That is why the Dems are saving the financial improvements for next summer before the “election”

 

[Orange Juice]

Good question. Might have to expand on what on the Colorado River means.

Dock, launch ramp, view, low traffic area, etc…..

 

[Smupser]

That makes a lot more sense. Gorgeous fireplace and citrus trees in the backyard. Can you guys use wood fireplaces in SoCal? We could because it was our only source of heat in Menifee.

Replaced our burnt out open faced fireplace with this closed combustion chamber unit. Has a green start feature that allows me to load up the firebox, push a button and a fire is ignited. has built in blower on top to push hot air into the living room. This set me back about 10k but was one of the best investments. With the price of propane and size of our house this thing puts out so much heat it offsets us running the furnace so much.

sorry for the thread jack

 

[Englewood]

That is why the Dems are saving the financial improvements for next summer before the “election”

Exactly! I’ve been saying this and everyone says I’m crazy “Dems can’t control rates”. TF they can’t.

They will 1000% use it to their advantage during the election.

 

[Activated]

If every company's solution is to eliminate employees, eventually you will eliminate the economy. That is pretty much common sense.

Automation is not new. I had customers 10 years ago who used automation to fill orders, pull product etc.

It’s a bottom line driven decision. If ROI is a few years or less, it is a no brainer.

The technology has only gotten better and continues to do so.

 

[zhandfull]

Bit of a divergence in the year over year median listing and sold prices.

Listing prices up and sold prices down.

 

[THE WIDGE]

Bit of a divergence in the year over year median listing and sold prices.

View attachment 1301916

Listing prices up and sold prices down.

Not surprised one bit. 2nd home conforming rates at 8.5% with points with prices higher than 12 months ago at 5.5%. Go figure. Last year prequal without paying off both cars and havasu house. Now. Same prequal number , both cars and Havssu needs to be paid off

 

[Sportin' Wood]

Does anyone have a feeling on how the 401K required minimum distribution is or will contribute to home prices and/or the stock market as we continue to ramp up Boomer populations reaching 72?

I think it would be interesting to understand the buying demographics that contributed to the housing market increases. It seems common sense that if you had to move money out of a 401K, Real estate over the last few years was a logical play.

This seems interesting to me as a way to try and understand what happens when the boomer wealth transfers to their heirs. Do they keep the assets or liquidate them?

 

[X Hoser]

Does anyone have a feeling on how the 401K required minimum distribution is or will contribute to home prices and/or the stock market as we continue to ramp up Boomer populations reaching 72?

I think it would be interesting to understand the buying demographics that contributed to the housing market increases. It seems common sense that if you had to move money out of a 401K, Real estate over the last few years was a logical play.

This seems interesting to me as a way to try and understand what happens when the boomer wealth transfers to their heirs. Do they keep the assets or liquidate them?

I’m sure you are seeing it in Montana just as I am seeing it in Idaho and Tennessee. Heirs are inheriting large parcels of land their parents used to raise cattle, hay or farm. It’s worth “millions" and the heirs are looking at it like, I don’t want to work that hard, especially when I can sella nd live happily ever after!. Developers are buying it up, subdividing and building on it. Not sure how that may effect the market but I see a lot of money out there buying these farms up. They must think in positive terms of the future of the market. In my subdivision we are phase 6 of 11. Ours is all sold out, phase 7 has 3 lots left and the realtors are begging for them to open phases 8-11 now, even before the streets are cut in! Selling as fast as they can offer them.

 

[COCA COLA COWBOY]

Automation is not new. I had customers 10 years ago who used automation to fill orders, pull product etc.

It’s a bottom line driven decision. If ROI is a few years or less, it is a no brainer.

The technology has only gotten better and continues to do so.

That wasn't exactly the point I was trying to make. If you create so much automation that an economy does not have enough jobs to circulate the flow of money, the economy will fail. It's bad enough that a huge number of people are collecting social programs, but eventually you'll have a government shrinking the population so only the select can breed.

 

[BHC Vic]

I’m not sure why I’m posting this here but I’ve been watching a lot of stuff on different parts of the country and poor areas and things like that. Why are houses in certain places so cheap, where do I want to retire, questions like that cause me to go down the rabbit hole. Yes we have a problem with illegals and them abusing the system and all the free shit and programs. But the problem runs deep. We have a real drug problem and way too many people abusing the system. Fast forward to the 45 minute mark of you don’t want to watch the whole thing but it’s eye opening.

 

[Englewood]

Just like we predicted. Buckle up.

The Fed will shift to 'full-on accommodation' mode in 2024 with nearly 3 percentage points of rate cuts as economy slows, UBS says​

Either the economy isn’t as good as they say, or get ready for stagflation.

 

[LargeOrangeFont]

Just like we predicted. Buckle up.

The Fed will shift to 'full-on accommodation' mode in 2024 with nearly 3 percentage points of rate cuts as economy slows, UBS says​

https://www.businessinsider.com/fed...ion-economic-contraction-unemployment-2023-11

Where is the OP now? If that's true, 18 months from now housing will be up another 10% + easily.

 

[LargeOrangeFont]

I’m not sure why I’m posting this here but I’ve been watching a lot of stuff on different parts of the country and poor areas and things like that. Why are houses in certain places so cheap, where do I want to retire, questions like that cause me to go down the rabbit hole. Yes we have a problem with illegals and them abusing the system and all the free shit and programs. But the problem runs deep. We have a real drug problem and way too many people abusing the system. Fast forward to the 45 minute mark of you don’t want to watch the whole thing but it’s eye opening.

There is no money in solving the drug problems, or ending abuse to any of the government systems. The problems wont end because there are too many people making money off those problems, and too many people in government paid to deal with them.

 

[Cole Trickle]

There is no money in solving the drug problems, or ending abuse to any of the government systems. The problems wont end because there are too many people making money off those problems, and too many people in government paid to deal with them.

Those areas have always been poor and addicted to something. When you live in WV or Shit box Pennsylvania , Etc you have to do something other than your cousin or sister for fun...lol

 

[THE WIDGE]

Who has the best jumbo rates?

I nearly lost my shit at a Wells Fargo rep when she told me I needed to put 30% down. I Told her that would force conforming loan which are 1.25-1.5 higher than jumbo rates. Wells also has a special 12.5k confirming fee plus 1500 loan fee and that’s zero points. I have 3 mortgages with them and they were very aggressive over the last decade up until now.

Looking for best rates 20% down. I have a prequal w 20%, just. Looking to shop n compare

 

[shintoooo]

Who has the best jumbo rates?

I nearly lost my shit at a Wells Fargo rep when she told me I needed to put 30% down. I Told her that would force conforming loan which are 1.25-1.5 higher than jumbo rates. Wells also has a special 12.5k confirming fee plus 1500 loan fee and that’s zero points. I have 3 mortgages with them and they were very aggressive over the last decade up until now.

Looking for best rates 20% down. I have a prequal w 20%, just. Looking to shop n compare

@OldSchoolBoats ?

 

[OldSchoolBoats]

Who has the best jumbo rates?

I nearly lost my shit at a Wells Fargo rep when she told me I needed to put 30% down. I Told her that would force conforming loan which are 1.25-1.5 higher than jumbo rates. Wells also has a special 12.5k confirming fee plus 1500 loan fee and that’s zero points. I have 3 mortgages with them and they were very aggressive over the last decade up until now.

Looking for best rates 20% down. I have a prequal w 20%, just. Looking to shop n compare

What's the purchase price? I can run that for you. I can tell you though, nothing I see out there is over a point better in rate vs. Conventional.

Wells Fargo is garbage for anything else but Jumbo. They give huge discounts on Jumbo rates, especially if you have over $250k with them.

 

[THE WIDGE]

What's the purchase price? I can run that for you. I can tell you though, nothing I see out there is over a point better in rate vs. Conventional.

Wells Fargo is garbage for anything else but Jumbo. They give huge discounts on Jumbo rates, especially if you have over $250k with them.

Pm sent, wells was very aggressive with my previous jumbo, commercial, and 15 year 10 years on current havasu. But what I heard from a different institution was true, wells is not as aggressive in lending, which was confirmed today with a 30% down on a jumbo, and some bullshit fee of 12k on a conforming loan with 25% down and no discounts in rate with that fee