Softening in RE market?? (Houston, West: location, soccer, Asian)

[MinesotaUser1]

Originally Posted by TurtleCreek80

No that survey shows that most millennial are freaking idiots. 30% didn’t even visit the neighborhood where they bought a house? And most didn’t budget for repairs and maintenance??

Its a new trend.

1. Anybody thought opening bank account from home 20 years ago?
2. Anybody thought buying cars online without test drive couple of years ago?

Earlier we used to buy stocks at trading floor. Now we are buying online.

I know some friends who buy apartments online in another country.

Whether its good or bad, things r not same always.

[TexanByMarriage]

That's a poor comparison, banks and stocks with housing. You can do all assessment of stocks and banks online - won't help you to visit a BofA location if you want to vet the bank. And when buying stocks - no difference online or "on the floor", just a transaction that's happening.

Housing quality is only checked by visiting, at least as long as the law does not require a qualified 3rd party assessment when welling. And the neighborhood you have to visit - Google Maps can only you take you so far.

We're moving to Dallas in a few weeks, and will be renting first for that reason. Have to live there and check out neighborhoods the coming year to understand what it means to live there. Especially when you have kids.

[hbdwihdh378y9]

Originally Posted by TurtleCreek80

No that survey shows that most millennial are freaking idiots. 30% didn’t even visit the neighborhood where they bought a house?

30% did.

70% didn't.

[aggie972]

The article is saying 70% of millennials bought their houses sight unseen? I really doubt that's true.

[justsomeguy]

Originally Posted by aggie972

The article is saying 70% of millennials bought their houses sight unseen? I really doubt that's true.

Right? Sounds like bull$*& to me.

Or maybe they mean 70% didn't visit the "neighborhood" before buying. Whatever that means.

[biafra4life]

Originally Posted by justsomeguy

Right? Sounds like bull$*& to me.

Or maybe they mean 70% didn't visit the "neighborhood" before buying. Whatever that means.

That’s amazing to me
When we bought our house in 2012, we were so nervous and paranoid that we must have driven through a dozen times at different times of the day just to verify we weren’t making a mistake. I’m sure the neighbors must have thought we were casing the joint lol
Point being this is the biggest and most important purchase you will ever make. Making the wrong decision can be life changing. How could you feel comfortable buying it sight unseen???
Oh well, to each their own

[hbdwihdh378y9]

Originally Posted by justsomeguy

Right? Sounds like bull$*& to me.

Or maybe they mean 70% didn't visit the "neighborhood" before buying. Whatever that means.

I suppose it means they didn't visit the neighborhood before they started looking online for houses in that neighborhood. Surely they would have eventually gotten around to an actual visit before buying, although I do have a client who bought a 15-floor office tower sight unseen.

[Soccernerd]

I know that I’m super sensitive to not only to the usual noise and neighborhood traffic, but also to things such as how many cars park on the street (especially if they’re parked on the wrong side!). I also notice if people have pets outside for long periods of time. I think it’s a good indicator on how good of neighbors they’ll be. If they insist on having pets and just let them outside roam around or bark all day, then you can bet they’re not going to be dependable or vigilant.

I’m towards the beginning of the Millenial gen, and I would NEVER buy a house totally online and without checking the neighborhood twenty times at different times of the day. None of my coworkers or friends who are my age or younger have bought a house without extensive research.

[TexanByMarriage]

But in their defense, in a hot real estate market you do have less time and opportunity to be as thorough. If houses are bought fast and above asking, then people might fear they're missing the boat when they see a house they like. Easier if you have narrowed down the area you want to live in and just wait for houses to come on market, but for many moving between cities the potential area they're looking in can be massive. And additionally, if you live somewhere else you have no option to look at neighborhoods 20 times.

We're moving like that now and will rent first for that reason. We did however consider buying straight away, but that would be way to risky for our liking.

[WhatTheFox]

Originally Posted by crazyforger

Still didn't get it

Don't refer to California as "Cali".