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Old 12-14-2018, 11:17 AM
 
229 posts, read 216,838 times
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Saw this article by Wall Street Journal on MSN.com, are we heading to lower home values?

https://www.msn.com/en-us/money/mark...G8k?li=BBnbfcN
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Old 12-14-2018, 11:45 AM
 
Location: Boston
5,461 posts, read 1,589,548 times
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the most overvalued housing market in the country.
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Old 12-14-2018, 12:08 PM
 
11,317 posts, read 3,998,024 times
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Quote:
Originally Posted by ragabnh View Post
Saw this article by Wall Street Journal on MSN.com, are we heading to lower home values?

https://www.msn.com/en-us/money/mark...G8k?li=BBnbfcN
Some slow down in November and January is standard. We will have a view of what is actually going on when We see the March numbers.

Some flattening would be good for the market. The last couple of years have been a bit much. Do not however see anything in the overall economy that would indicate a down market is coming.
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Old 12-14-2018, 12:12 PM
 
229 posts, read 216,838 times
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Except for the stock market is rolling down and now they are predicting recession for 2020
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Old 12-14-2018, 12:13 PM
 
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I just received 3 emails from different real estate sites. Our house went up an average of $8k in the last two months.
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Old 12-14-2018, 12:22 PM
 
Location: Southern Nevada
2,587 posts, read 1,042,879 times
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Not dropping in my neighborhood. We are constantly getting calls from RE agents and mailings about selling our place. The exact house as ours 4 doors down just sold for $80K more that what we paid a little over a year ago and it isn't as nice.

Even though the houses in this area are nice and in a good location I think right now they are a little over-priced versus what we paid. We're not selling any time soon so it doesn't really matter much to us now, but it is interesting.
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Old 12-14-2018, 01:02 PM
 
27,309 posts, read 38,548,258 times
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Quote:
Originally Posted by Camaro5 View Post
Not dropping in my neighborhood. We are constantly getting calls from RE agents and mailings about selling our place. The exact house as ours 4 doors down just sold for $80K more that what we paid a little over a year ago and it isn't as nice.

Even though the houses in this area are nice and in a good location I think right now they are a little over-priced versus what we paid. We're not selling any time soon so it doesn't really matter much to us now, but it is interesting.

Same here. I am fascinated by the craziness of the market. It would be interesting to have a realtor give us an estimate after seeing our house. The interior has been completely remodeled even down to the trim being replaced. Gutted the kitchen and both baths. The house has an 18x6 mater closet that is not standard for this model.

But why bother? We're not going anywhere.
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Old 12-14-2018, 02:46 PM
 
21 posts, read 12,291 times
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Quote:
Originally Posted by Tek_Freek View Post
Same here. I am fascinated by the craziness of the market. It would be interesting to have a realtor give us an estimate after seeing our house. The interior has been completely remodeled even down to the trim being replaced. Gutted the kitchen and both baths. The house has an 18x6 mater closet that is not standard for this model.

But why bother? We're not going anywhere.
I have been following LVS real estate using Zillow and there are a lot of price cut lately. But they are mostly from house that are way overpriced (compare to house sold a few blocks away 2-3 months ago). My guess is that the every month 1-2% rise day are over at this point. But housing prce are not dropping either... It is the somewhere in between time when the housing price stalls. The not so good news is that there are a lot of new development coming (some from the really small developers). It is not clear if the small developers will cut price a lot to move their units asap. Large developers will just hold on to the units and just using marketing incentive to move the unit (things like free upgrade, help in closing cost etc.). Price cut from small developers is the sign to look for. Most everyone else can hold on to their house/condo and just wait out the slow down..
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Old 12-14-2018, 05:08 PM
 
1,705 posts, read 3,078,380 times
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My good friend who is a mortgage broker has been telling me it has been going gangbusters for a few years now. I recently talked to him and he said it's noticeably down in the last two months and continuing to trend further downward. He is expecting a significant slowdown especially in new home sales next year.

We're definitely due for a recession as we are currently in the lengthiest period of economic expansion since WW2. The question is, are we there now? My gut feeling is yes we are starting the downward trend of the economic cycle.
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Old 12-14-2018, 05:11 PM
 
Location: Las Vegas
746 posts, read 496,757 times
Reputation: 673
So glad I didn't buy a home this summer. Came pretty close to signing. Would have regretted it.
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