Will the real estate market let up at all in 2021?! (San Marcos: rent, how much)

[10scoachrick]

The floor-plan we looked at in December(mid) is now up $80K at last check...and THAT doesn't include the song and dance needed to secure the lot

[Need4Camaro]

Originally Posted by 10scoachrick

The floor-plan we looked at in December(mid) is now up $80K at last check...and THAT doesn't include the song and dance needed to secure the lot

What area was it located again?

[10scoachrick]

Originally Posted by Need4Camaro

What area was it located again?

Crystal Springs at the new Lakewood Park

[Need4Camaro]

Originally Posted by 10scoachrick

Crystal Springs at the new Lakewood Park

Yeah thats pretty up there. The market is crazy for certain. I can't help but wonder after these people settle in, if they will truly be content with their decision for the dollar they spent.

[JT24hr]

Originally Posted by ashbeeigh

In what part of the city?

Shadowglen in Manor actually. The bigger floorplans (3000+k feet in 10,000+ ft lots) are 540+k. That's without any upgrades! Those builds can easily reach 560-600k. We had 20k in upgrades as a free credit when we built and those are all gone now as well.

[dakicka]

Thankfully in the last 36 hours I’ve noticed a LOT more existing homes inventory on the MLS and realty apps. My realtor confirmed the same. Been looking to buy and got the pre approval letter done today. I will have no part of these absurd bidding wars. Everything that goes up will come down. Signing off one’s rights for an appraisal and getting engulfed by emotion is not a prudent decision. This feeding frenzy won’t last forever. Everything hang in there and realize that when you join in on these 20% over list offers you’re part of the problem. I have a strong feeling that things are going to level off faster than most are predicting. Call it a correction if you will, just like the stock market. I’m long in the stock market but also know there are peaks and troughs and in any market the faster and longer it keeps going up, the harder the correction. So watch out, especially with the aftermath of corona job loss, corona loss of income, financial disarray, forthcoming foreclosures, a weakened economy with rising gas prices, restaurants and small businesses still being choked, and a Nationally split political sentiment amongst Americans. With the market at unreasonable valuations that could be the first to break. I think this is a perfect environment for some shakiness to start happening very soon. Nothing like the 2005~ mortgage crisis but things are due to get popped.

Also, all the folks freaking out over these master planned communities. I don’t get it. Sure it’s nice to have a new place. But who wants to be able to poke their neighbor with a yard stick? They’re all stacked up and bath produced and these communities look quite sterile. Paying $80K over a $400K list is asinine in my humble opinion.

[Need4Camaro]

Originally Posted by dakicka

Thankfully in the last 36 hours I’ve noticed a LOT more existing homes inventory on the MLS and realty apps. My realtor confirmed the same. Been looking to buy and got the pre approval letter done today. I will have no part of these absurd bidding wars. Everything that goes up will come down. Signing off one’s rights for an appraisal and getting engulfed by emotion is not a prudent decision. This feeding frenzy won’t last forever. Everything hang in there and realize that when you join in on these 20% over list offers you’re part of the problem. I have a strong feeling that things are going to level off faster than most are predicting. Call it a correction if you will, just like the stock market. I’m long in the stock market but also know there are peaks and troughs and in any market the faster and longer it keeps going up, the harder the correction. So watch out, especially with the aftermath of corona job loss, corona loss of income, financial disarray, forthcoming foreclosures, a weakened economy with rising gas prices, restaurants and small businesses still being choked, and a Nationally split political sentiment amongst Americans. With the market at unreasonable valuations that could be the first to break. I think this is a perfect environment for some shakiness to start happening very soon. Nothing like the 2005~ mortgage crisis but things are due to get popped.

Also, all the folks freaking out over these master planned communities. I don’t get it. Sure it’s nice to have a new place. But who wants to be able to poke their neighbor with a yard stick? They’re all stacked up and bath produced and these communities look quite sterile. Paying $80K over a $400K list is asinine in my humble opinion.

Sweet. Good luck on your purchase.

[CarnivalGal]

Originally Posted by dakicka

Thankfully in the last 36 hours I’ve noticed a LOT more existing homes inventory on the MLS and realty apps. My realtor confirmed the same. Been looking to buy and got the pre approval letter done today. I will have no part of these absurd bidding wars. Everything that goes up will come down. Signing off one’s rights for an appraisal and getting engulfed by emotion is not a prudent decision. This feeding frenzy won’t last forever. Everything hang in there and realize that when you join in on these 20% over list offers you’re part of the problem. I have a strong feeling that things are going to level off faster than most are predicting. Call it a correction if you will, just like the stock market. I’m long in the stock market but also know there are peaks and troughs and in any market the faster and longer it keeps going up, the harder the correction. So watch out, especially with the aftermath of corona job loss, corona loss of income, financial disarray, forthcoming foreclosures, a weakened economy with rising gas prices, restaurants and small businesses still being choked, and a Nationally split political sentiment amongst Americans. With the market at unreasonable valuations that could be the first to break. I think this is a perfect environment for some shakiness to start happening very soon. Nothing like the 2005~ mortgage crisis but things are due to get popped.

Also, all the folks freaking out over these master planned communities. I don’t get it. Sure it’s nice to have a new place. But who wants to be able to poke their neighbor with a yard stick? They’re all stacked up and bath produced and these communities look quite sterile. Paying $80K over a $400K list is asinine in my humble opinion.

I think it will calm down, but not for a while. There is always increased inventory this time of year. That's nothing new. Ridiculously low interest rates are meaning a lot of people want to buy. But people just aren't selling.

I live in one of those master planned communities. I love it. It's been a great place to raise our kids. But we bought 15 years ago, and my house wasn't new when we bought it. We are on a cul-de-sac, back up to a greenbelt, and have a 1/3 acre lot. Because of the cul-de-sac, our lot is sort of pie shaped. I really can't even see my neighbors except from one upstairs window that has a view of their backyard. It's pretty private, actually. Someone with a different lifestyle may not want the same things, and that's fine. FWIW, we bought our house for $280K 15 years ago, it could easily sell for $650K right now. But we have no desire to move. Also, there were zero houses for sale here for a while. Zero. One went on the market and received 22 offers in the first day. Five went on the market this week, all but one received multiple offers on the first day. Two are under contract, two will probably be under contract any minute (they both have offers), and one is $2 million, so that may take a bit longer to sell. (Average price here is closer to $600K).

[ashbeeigh]

They’re putting in an offer 4K over asking in a neighborhood in Kyle. Fingers crossed! It had only been listed for 14 hours and had an open house today. So, not very hopeful, but we’ll see.

[ashbeeigh]

“Multiple Offers Received---Please submit best offer by noon on Monday 2/8/2021.” I understand why but I don’t like it.