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Old 01-01-2019, 12:53 PM
 
Location: Philaburbia
31,573 posts, read 58,021,230 times
Reputation: 52463

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There's been a bubble?
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Old 01-01-2019, 01:01 PM
 
Location: Malaga Spain & Lady Lake, Florida
317 posts, read 61,461 times
Reputation: 342
Quote:
Originally Posted by LifeIsGood01 View Post
I haven't seen any foreclosures in my area. They have all been bought years ago by investors and are being rented out.

The guy who sold me my home and just sold the home to the right of me and is working to sell the home to the left of me seems to be leaving the landlord market while he can make a great profit on his homes. I got really lucky and bought at the perfect time and in about 3 years my home price has doubled on my starter home.

There are plenty of foreclosures by the look of things in my area https://www.lakecountyclerk.org/reco...ales_calendar/

Lee county looks pretty busy too https://www.lee.realforeclose.com/in...ethod=CALENDAR


The guys probably selling because he too can feel the change and may well sell and take his profit now then sit it out and buy again in a couple of years when prices have bottomed out.

I am an investor and the rental return in Florida is pretty good, I paid $150,000 for the first house which is renting happily at $1250, I don’t have a mortgage and couldn’t get that return leaving the money in the bank, of course if there is a big drop in value I would lose capital on that house but have no intention of selling so it wouldn’t bother me and I’d just wait it out.


If the market drops I will buy more in the area, the difficult bit is buying at the right time.

The market is cylindrical but again unimportant if you are buying your own home and like the house as long as you can afford it.
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Old 01-01-2019, 01:22 PM
 
Location: Williamsburg, VA
2,037 posts, read 942,953 times
Reputation: 4505
I wouldn't say a bubble has burst, but where I live it seems like the developers have slowed down on new construction. Which I personally think is good news in the long run. Not too many foreclosures, as far as I can tell. But I wouldn't be surprised if there's been an increase in people renting out their homes while they wait for the next seller's market.
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Old 01-01-2019, 01:41 PM
Status: "Hunt 3 coming soon! Sigh!" (set 5 days ago)
 
5,577 posts, read 5,632,147 times
Reputation: 4284
It depends. Buyers in my area are selective but are willing to pay full price and above for what they want. A house is worth what a person is willing to pay.
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Old 01-01-2019, 01:55 PM
 
10,517 posts, read 6,820,553 times
Reputation: 11162
Quote:
Originally Posted by goodlife36 View Post
A house is worth what a person is willing to pay.
If they buy in cash, if not it's only worth what the appraiser says.
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Old 01-01-2019, 02:11 PM
 
5,108 posts, read 4,793,263 times
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Definitely depends on the area. In fall and winter, sales and contracts slow down around here but new construction is still popping up everywhere. Right now, it's neutral in the area. I expect it to pick up in spring again.
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Old 01-01-2019, 03:56 PM
 
94 posts, read 14,215 times
Reputation: 49
Housing market will never crash again. Prices are still on the rise, homes are selling, life is great.

We won’t have another real estate crash like 2008 again sorry to disappoint!
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Old 01-01-2019, 07:37 PM
 
2,799 posts, read 2,089,349 times
Reputation: 2037
I have a home in San Francisco which I am selling this spring.

Not sure where prices will be in the coming years but I'm cashing out now.

I also own rental property in Mesa, AZ and have seen prices pretty much remain flat for the past two years. No sign of a bubble in the Phoenix metro but I'm watching closely.

I lived through the 2006-2009 crash and don't want to go through that again.
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Old 01-01-2019, 07:41 PM
 
94 posts, read 14,215 times
Reputation: 49
Im thinking about selling my property around September-October of this year, will it be too late for me or just in time before the market crashes
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Old 01-01-2019, 07:48 PM
 
Location: Blue Ridge Mntns., NC
10,418 posts, read 14,374,417 times
Reputation: 8971
Quote:
Originally Posted by goodlife36 View Post
It depends. Buyers in my area are selective but are willing to pay full price and above for what they want. A house is worth what a person is willing to pay.
This:

For a price that a qualified buyer is willing to pay, and at the price a seller is willing to accept.
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