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Homes bought in 2022 and 2023 are starting to hit the market
Posted on 3/3/26 at 5:14 pm
Posted on 3/3/26 at 5:14 pm
And they overpaid. They need to take a loss or enjoy the home for a long time. They are stuck.
15
Posted on 3/3/26 at 5:15 pm to boogiewoogie1978
They cant afford to sell and give up those cheap mortgages
Posted on 3/3/26 at 5:19 pm to Cosmo
quote:
They cant afford to sell and give up those cheap mortgages
They weren't that cheap in 2023
Posted on 3/3/26 at 5:20 pm to boogiewoogie1978
If you overpaid, you need to stay.
Posted on 3/3/26 at 5:21 pm to boogiewoogie1978
I’ve noticed a lot of homes in the Nashville area going straight to auction.
Think it’s just the tip of the iceberg
Think it’s just the tip of the iceberg
Posted on 3/3/26 at 5:23 pm to Cosmo
quote:
They cant afford to sell and give up those cheap mortgages
You can pry my 3% mortgage from my cold, dead fingers.
Posted on 3/3/26 at 5:26 pm to Chromdome35
Yes, yes. Why would you give up a 3% for a 5.9%?
Posted on 3/3/26 at 5:29 pm to boogiewoogie1978
They must not have a low rate because they are selling
Posted on 3/3/26 at 5:31 pm to L1C4
We would like to move, but it just doesn't make financial sense to do so.
Living in NWA, home prices have risen dramatically with the area's growth. Our house has over doubled in price in 18 years. It's crazy.
Living in NWA, home prices have risen dramatically with the area's growth. Our house has over doubled in price in 18 years. It's crazy.
Posted on 3/3/26 at 5:31 pm to Cosmo
I think that was more like 2021.
Posted on 3/3/26 at 5:34 pm to boogiewoogie1978
I'm not leaving my 1000 sf shack. Frick the interest rates now.
Posted on 3/3/26 at 5:35 pm to kywildcatfanone
quote:
If you overpaid, you need to stay.
I am in that position. I didnt really have many options. It will be what it will be. I slightly overpaid, I have a high interest rate. If it keeps dropping, I will refinance. As of now, I have zero thoughts of moving for a long time.
It is what it is
Posted on 3/3/26 at 5:35 pm to boogiewoogie1978
The only day the value of a house matters is the day you sell it. The rest of the time, you just pay your mortgage to the lender and live your life. People bailing out of homes they’ve had for just a few years because they’ve declined a bit are fools.
Posted on 3/3/26 at 5:39 pm to boogiewoogie1978
I moved in the days of 2.5%. It was a pretty quick decision to move so I got a workable house and figured I’d spend a few years figuring out where I really wanted to live in the area and upgrade.
Then shite hit the fan, interest rates go up, house prices go crazy. Even a modest upgrade would almost triple my mortgage.
So circumstances have kept me very fiscally responsible.
Then shite hit the fan, interest rates go up, house prices go crazy. Even a modest upgrade would almost triple my mortgage.
So circumstances have kept me very fiscally responsible.
Posted on 3/3/26 at 5:39 pm to boogiewoogie1978
I bought a place in NY in 2021 for about 300k over its value and I’ve regretted it since it’s small at 900 square feet. Been absolute hell trying to sell it now but the rate was good at 3.9%.
Posted on 3/3/26 at 5:40 pm to LSUwag
I think there are a lot of people who overpaid at high interest rates and are finding that they just can't afford the house.
Posted on 3/3/26 at 5:41 pm to boogiewoogie1978
The overpaying was horrible between 2020-2022. Rates didn’t jump above 5.5 until late 22. Right now there are more 90 day delinquencies on mortgages since 2008. With the economy faltering in certain sectors the market will correct itself soon n house prices. I always said people treating homes like cars(wanting a new one every 5-6 years) is the dumbest financial mistake.
Posted on 3/3/26 at 5:44 pm to boogiewoogie1978
quote:Indeed.
Homes bought in 2022 and 2023 are starting to hit the market ... and they overpaid. They need to take a loss or enjoy the home for a long time. They are stuck.
I say that as a 2024 buyer, which is up there too.
Posted on 3/3/26 at 5:49 pm to Chromdome35
We really need to downsize....almost empty nesters in a 5 bedroom home....but I would almost double my mortgage if I were to buy a 1-story 3 bedroom home in the same area.
Posted on 3/3/26 at 5:50 pm to Rrrrroger
Any on the outskirts of Nashville?
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