- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Home prices will go down this summer as sellers can't postpone listing any longer
Posted on 6/11/24 at 8:37 pm to Teddy Ruxpin
Posted on 6/11/24 at 8:37 pm to Teddy Ruxpin
quote:
The weird quirk here is they could be upside down, but if they were to try to buy a house today with that same money, their situation would be even worse. I just don't think we've had that paradigm in a long time, if ever. You could argue it was better for them to buy the house for $1m at old rates and be underwater now, then to buy it later at higher rates at the "correct" price. Further, since their property taxes were probably assessed at inflated purchase price, they would have been assessed lower now, which means their note has gone DOWN combined with cheaper rates.
Just wth are y’all on about? Home prices are nowhere near prices during the historically low rates era.
0
Posted on 6/11/24 at 8:54 pm to stout
quote:
Redfin is predicting US home prices will fall 1% by the end of the year.
Is that with a rate cut or no rate cut? There's a lot of latent demand out there, when rates start coming down buyers are going to start hitting the streets again.
Posted on 6/11/24 at 8:59 pm to stout
1% is effectively no change.
At.
All.
At.
All.
Posted on 6/11/24 at 9:03 pm to stout
The market hasn’t slowed down in my area yet. Houses are still selling fast at crazy prices. I’m currently in the market and both homes I looked at yesterday were over $180 per square foot
Posted on 6/11/24 at 9:08 pm to Teddy Ruxpin
Property taxes go up like an elevator and down like an escalator, at least in Texas. Major price cuts on homes in my metro, property taxes not cut so far.
Posted on 6/11/24 at 9:18 pm to stout
quote:
1% is optimistically conservative IMO
Doesn't sound like caving in any sense of the word, even this newfangled raping of language where means what ever the person that says or types them wants them to mean.
Posted on 6/11/24 at 9:20 pm to stout
Oh no, what shall I do about this unrealized hypothetical 1% loss in equity 
Posted on 6/11/24 at 9:24 pm to dj30
quote:
Which part? I’m looking myself and haven’t seen much drop.
Midlothian/Waxahachie area
Posted on 6/11/24 at 9:33 pm to grizzlylongcut
quote:
Midlothian/Waxahachie area
Ok, those cities sound legit made up
Posted on 6/11/24 at 9:53 pm to stout
HODL! It shall come down more!!!
Posted on 6/11/24 at 10:04 pm to stout
That is just work from home walmart employees that have to move to go back to working in the office.
Posted on 6/11/24 at 10:13 pm to Fletch1985
quote:
Property taxes go up like an elevator and down like an escalator, at least in Texas. Major price cuts on homes in my metro, property taxes not cut so far.
The property values were cut substantially from the 2022 high.
The problem is the assessors were years behind (I'm not complaining) and gave an accurate assessment in 2022. My assessment pretty much doubled. Of course, 6 months later rates shot up and prices fell. My 2023 assessment came down a lot.
However, property taxes can only go up a maximum 10% per year, so regardless, the assessed value from 2022 and lower one since 2023/24 are still something like 60% higher than 2021, so property taxes keep going up until that 10% yearly addition matches the currently assessed value (if ever). Though, they would have gone up more if the legislator didn't raise the Homestead exemption in 2023.
Before 2022 it was worthwhile for just about everyone to protest their taxes, as you'd actually see a reduction in your tax payment. I haven't done it since 2022 because it is pointless, as the protested value will still be so high the full 10% increase will pass to me.
This post was edited on 6/11/24 at 10:19 pm
Posted on 6/11/24 at 10:40 pm to stout
Everything is totally regional. In DFW if you want to be within 30 mins of downtown in a somewhat safe area you're still looking at about $225 per square foot for a starter home
Posted on 6/12/24 at 5:24 am to Teddy Ruxpin
quote:
The property values were cut substantially from the 2022 high
I guess you live in a terrible crime ridden street because generally speaking this is just false.
Posted on 6/12/24 at 5:32 am to stout
Where I am, most of the listings are still trying to go up but they are sitting now instead of getting gobbled up quick like the past year. People are still trying to make money on what they bought the past couple years but they just aren't getting it.
Posted on 6/12/24 at 5:38 am to stout
quote:
I have seen reports of places in FL already seeing as high as 30% price cuts by builders in areas like Cape Coral. Austin has reportedly been hit hard by cuts as well.
Was $400k.
Inflated to $1M.
Cut to $700k.
Posted on 6/12/24 at 5:40 am to stout
I know of only one family trying to sell and they are going through this as well.
Posted on 6/12/24 at 5:59 am to stout
I feel like I’ve read one of these “the dip is coming in home prices” for the last 15 years. If you’ve sat on the sidelines during any point in time over those 15 years waiting for “the dip” you’ve missed out on significant gains.
Posted on 6/12/24 at 6:06 am to stout
And frickhead Joe will raise the rates
Posted on 6/12/24 at 6:08 am to stout
Everyone from the 2020-2021 bubble is stuck. They have a fantastic interest rate on a house not worth what they paid for it.
The vast majority of interested buyers can’t afford what those 2020-2021 buyers (or any buyer the last 15 years for that matter) have to sell it for due to the interest rate being double.
The winners in this will be Blackrock, Vanguard, Sequoia, and the other shitbag REIT’s out there.
Home ownership will be an abnormal luxury in the future, Buy land, build a compound for your lineage. Put it in a trust for future generations.
All roads lead to tribalism.
The vast majority of interested buyers can’t afford what those 2020-2021 buyers (or any buyer the last 15 years for that matter) have to sell it for due to the interest rate being double.
The winners in this will be Blackrock, Vanguard, Sequoia, and the other shitbag REIT’s out there.
Home ownership will be an abnormal luxury in the future, Buy land, build a compound for your lineage. Put it in a trust for future generations.
All roads lead to tribalism.
This post was edited on 6/12/24 at 6:10 am
Page 4 of 7
Popular
Back to top
Follow TigerDroppings for LSU Football News