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Old 07-05-2016, 12:42 PM
 
6 posts, read 4,311 times
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Quality inventory in at an all time low. Home prices are so inflated due to this. For the time being, it is still very much a sellers market here.
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Old 07-06-2016, 02:16 PM
 
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Could it be House flippers and rental investors are driving down inventory and pushing prices up as usual?
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Old 07-06-2016, 02:38 PM
 
Location: St Simons Island, GA
23,127 posts, read 35,085,706 times
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Quote:
Originally Posted by kasuga888 View Post
Could it be House flippers and rental investors are driving down inventory and pushing prices up as usual?
I think it has more to do with the explosive growth of the city in general.
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Old 07-06-2016, 03:01 PM
 
994 posts, read 1,176,777 times
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There is also less inventory geared toward first-time home buyers. New construction certainly is not targeting novice buyers, and homes formerly considered starters cost more than starter prices and / or have been upgraded / elevated to attract other types of buyers.

Last edited by hautemomma; 07-06-2016 at 03:17 PM..
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Old 07-07-2016, 07:34 AM
 
Location: ATL by way of Los Angeles
845 posts, read 1,159,182 times
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Quote:
Originally Posted by hautemomma View Post
There is also less inventory geared toward first-time home buyers. New construction certainly is not targeting novice buyers, and homes formerly considered starters cost more than starter prices and / or have been upgraded / elevated to attract other types of buyers.

Prices have definitely gone up in our area. Not only is the new construction more than what I would want to pay for the area, the existing homes are also going for more while staying on the market less. The house next door to us went on the market earlier this year and was sold in a little over a month. Meanwhile, another house down the street is now on the market for $40K more than what our neighbors got for their home, which in turn was more than what we paid for our home.


The "starter home in the suburbs" concept is slowly becoming a thing of the past for those with modest incomes. That is unless you are really looking to sacrifice the quality of the home, the quality of the local schools, or both. Of course the flipside is that you may find something affordable in a good school district, but that could often lead to a bad commute.
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Old 07-07-2016, 12:20 PM
 
Location: Conyers
11 posts, read 7,040 times
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Quote:
Originally Posted by hautemomma View Post
There is also less inventory geared toward first-time home buyers. New construction certainly is not targeting novice buyers, and homes formerly considered starters cost more than starter prices and / or have been upgraded / elevated to attract other types of buyers.
I'm a Realtor that works with quite a few first time buyers, and there's almost NO starter homes out there. "Starter home prices" are considered $85k depending on who you ask, and almost all homes in that price range have cash buyers. It's almost impossible to compete!

Back to the original topic, we are really REALLY low on inventory (If you even slightly dislike your house, dm me and let's list it!) I wouldn't say the lowest in the country, but I've never sold real estate anywhere else.

I have heard it's almost impossible to find a house to buy in the Bay area.
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Old 07-07-2016, 03:11 PM
 
994 posts, read 1,176,777 times
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Originally Posted by ath20 View Post
I'm a Realtor that works with quite a few first time buyers, and there's almost NO starter homes out there. "Starter home prices" are considered $85k depending on who you ask, and almost all homes in that price range have cash buyers. It's almost impossible to compete!

Back to the original topic, we are really REALLY low on inventory (If you even slightly dislike your house, dm me and let's list it!) I wouldn't say the lowest in the country, but I've never sold real estate anywhere else.

I have heard it's almost impossible to find a house to buy in the Bay area.
I would assume starter prices are probably more realistically in the $100K-$150K range, as house prices have accelerated so much, there are very slim pickings and gut jobs beneath that price point. The thing is, yes, houses are selling fast. But since inventory is so low, where are the sellers going?
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Old 07-07-2016, 03:55 PM
 
Location: Prescott, AZ
5,554 posts, read 3,048,338 times
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Quote:
Originally Posted by kasuga888 View Post
Could it be House flippers and rental investors are driving down inventory and pushing prices up as usual?
There is a BIT of this going on, though I think it's mostly in the form of general properties than livable homes.
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Old 07-07-2016, 04:28 PM
 
Location: Conyers
11 posts, read 7,040 times
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Quote:
Originally Posted by hautemomma View Post
I would assume starter prices are probably more realistically in the $100K-$150K range, as house prices have accelerated so much, there are very slim pickings and gut jobs beneath that price point. The thing is, yes, houses are selling fast. But since inventory is so low, where are the sellers going?
Personally, I'd agree a new starter home is around $115k, but there are agents that will argue you down that the price is $85k. Which, that's probably right... in 2002.

My guess is that sellers are retiring, or unaware of the rat race their entering into. My last few sellers moved out of state. Maybe their flocking to all these new construction homes. I go past a subdivision in Stockbridge sometimes on my way to work, and it's staggering just how quickly they sell those homes. You can never go into one for an, "open house". By the time their finished, they're under contract.
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Old 07-07-2016, 11:08 PM
 
1,462 posts, read 939,356 times
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Quote:
Originally Posted by Mutiny77 View Post
I'm guessing there's some truth to this. I know someone who's in the market for a house in Atlanta and he's having a tough time finding anything, even on the west and south sides. I'm wondering if investors have snapped up a lot of homes on those sides of town and are just sitting on them.
They are.I have been looking for properties everywhere.Especially in the up and coming areas.I was recentky in the Perry Homes area and those homes are very modest house that arent even brick and I could find nothing that was not owned by investors.
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