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If Vicki were a securities broker you could sue her for detrimental reliance if you lost money on your investment. Hey Vicki, how much would you have made in in an S&P 500 fund if you'd invested those house payments over 30 years?
JohnE asked a question and I answered it. I am NOT a securities broker so how does that relate? He did ask a valid real estate question to which I gave him an honest answer, based on having lived here for 30 years and having sold real estate for quite a few years.
If you ask me, I've already sold more homes this year than I did last year. How is this relevant? Would you also like to see my tax returns?
If you have nothing to add to the post, please be considerate and don't waste our time.
Coming to a screeching halt in Raleigh??? I think you need to work on your definition of a screeching halt. Go to Florida and you'll see a screeching halt. Homes there are sitting 6-10 months before being sold and when they are sold, they're sold for less than what they did 2 years ago.
In my subdivision, new homes are closing on an average of 1 to 2 homes per week. That might not be as fast as it was a year ago, but it isn't a screeching halt.
And Mike's advice was to find a good home in a good location and stay a few years. Even if the market were coming to a screeching halt, how does that change his advice. His advice is sound and would be especially good advice if the market were coming to a screeching halt.
I may be wrong about this, but I believe that unlike some other markets across the country (northeast, FL, CA, Las Vegas), Raleigh's real estate market has remained fairly steady through the past several years - growing, but not at an insane, rapid pace. So even if the market were to come to "a screeching halt" here, the impact would be nowhere near as bad as other parts of the country.
If you want to buy a house, at some point you just have to dig your heels in and go for it!
being a new homeowner, just in the month I am in my new home, the houses are going up and new lots, as fast as they open up I am seeing "sold" signs. I don't feel the market in Raleigh is at a screeching halt. I am sure it may have slowed, but with anything, there are high & low points...look at the stock market from March of this year until yesterday...
Quote:
Originally Posted by jello212
Coming to a screeching halt in Raleigh??? I think you need to work on your definition of a screeching halt. Go to Florida and you'll see a screeching halt. Homes there are sitting 6-10 months before being sold and when they are sold, they're sold for less than what they did 2 years ago.
In my subdivision, new homes are closing on an average of 1 to 2 homes per week. That might not be as fast as it was a year ago, but it isn't a screeching halt.
And Mike's advice was to find a good home in a good location and stay a few years. Even if the market were coming to a screeching halt, how does that change his advice. His advice is sound and would be especially good advice if the market were coming to a screeching halt.
I may be wrong about this, but I believe that unlike some other markets across the country (northeast, FL, CA, Las Vegas), Raleigh's real estate market has remained fairly steady through the past several years - growing, but not at an insane, rapid pace. So even if the market were to come to "a screeching halt" here, the impact would be nowhere near as bad as other parts of the country.
If you want to buy a house, at some point you just have to dig your heels in and go for it!
You are absolutely correct. The Real Estate Market in Raleigh, Cary, etc., has remained STEADY throughout the last 30 years that I've lived here. I couldn't have said it better myself!!! Vicki
However, there are certain price ranges that are hot at the moment and some that are running cold with too much inventory so builders will give better incentives like dropping the price. Sometimes builders over price and when the buyers don't buy...they realize they have overpriced and they drop prices.
A home will sell ONLY if its priced right! What today's price is may not be tomorrow's price. Does this make ANY sense?
Vicki
Hi Vicki,
I don't know if this has been covered in another thread, but could you please tell me what price ranges are considered "hot" right now? Thanks so much!
You may see some slowdown in starter homes since some marginal candidates will no longer get financing. The subprime mess is starting to stink like rotting fish and even Wall Street is getting nervous about subprime loans.
JohnE asked a question and I answered it. I am NOT a securities broker so how does that relate? He did ask a valid real estate question to which I gave him an honest answer, based on having lived here for 30 years and having sold real estate for quite a few years.
If you ask me, I've already sold more homes this year than I did last year. How is this relevant? Would you also like to see my tax returns?
If you have nothing to add to the post, please be considerate and don't waste our time.
Thanks for reading,
Vicki
We are not comparing the return on a house versus a return in the stock market. That would be a good topic for another thread though! I think that Vicki hit the nail on the head with her comment.
Raleigh, NC area recently named best market for sellers
I read an article yesterday online ranking the best real estate markets. Raleigh was rated #1 for its robust market. Steady appreciation and a healthy local economy were among reasons for our top position.
I think it was Money Magazine, but I can't promise that's right.
Awww, thanks guys. Now someone explain to me WHO keeps giving me bad points and keeps saying that I'm "rude" and "mean". I don't mean to be but if you disagree with me, then you should post it and tell me why you think your opinion is correct and I'm wrong instead of just hiding.
Vicki
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agreed...
Raleigh, NC area recently named best market for sellers
