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Old 04-09-2021, 10:42 AM
 
2,772 posts, read 5,722,192 times
Reputation: 5089

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Quote:
Originally Posted by DKM View Post
No, that's farther south. I'm talking about the area where Happy Valley hits the 60, roughly...
I think that's the Asante development?
In the last couple of years Surprise has built a library and fire house in that area.
The 303/60 interchange has become really busy, that would be a huge concern for me.
But I've seen a few houses sell there for (relatively) crazy prices.
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Old 04-12-2021, 01:11 PM
 
1,943 posts, read 2,294,075 times
Reputation: 1800
"Most of these experts that I've watched are predicting a 30%-50% housing crash starting soon. " ..... has not happened yet..... prices still going up fast all over the West
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Old 04-12-2021, 08:35 PM
 
6,693 posts, read 5,923,002 times
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Quote:
Originally Posted by wilberry View Post
"Most of these experts that I've watched are predicting a 30%-50% housing crash starting soon. " ..... has not happened yet..... prices still going up fast all over the West
And here in the Boston area, as well.

Is there a mortgage bubble this time around? That was the problem in 2009. I thought lenders had tightened up since then, not handing out $350K mortgages to people making $38K and so forth.
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Old 04-13-2021, 06:52 AM
 
3,822 posts, read 9,470,404 times
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Quote:
Originally Posted by blisterpeanuts View Post

Is there a mortgage bubble this time around? That was the problem in 2009. I thought lenders had tightened up since then, not handing out $350K mortgages to people making $38K and so forth.
Just watched a news story about home sales and they said in some markets 20-25% of all home sales are now sold to pension funds, investment firms and the like who can make all cash, quick close offers for $30,000 over asking without blinking an eye. Very tough for the average person to compete against this. Driving up home prices as a result.

We recently bought a second home for a disabled family member who will be paying us rent and eventually take over the property. It was maddening at times to see that a contingent offer was placed on a property within hours of it being listed. You know a human being never actually toured the property but instead was discovered by a computer program that scoured all the new listings. Our agent showed us the behind the scenes stuff going on and sure enough it was a financial firm buying up to do a quick flip or turn it into a rental.
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Old 04-13-2021, 09:10 AM
 
Location: Chandler, AZ
4,068 posts, read 5,139,473 times
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Okay...so question for all the landlords on here. How many of your tenants are behind on rent and as soon as the moratorium is lifted intend to evict them?

This is what I have heard through the grapevine is going to be the turning point of the housing market. Say 25% evictions, the mortgage on the actual home hadn't been paid or is severely deficient...leading to a drop in rent and/or distressed former rental properties hitting the market in June/July. Recent trends are finding some renters catching up on their past due but there are still some 7M Americans behind on their rent.
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Old 04-13-2021, 09:33 AM
 
4,624 posts, read 9,273,155 times
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Quote:
Originally Posted by KurtAZ View Post
Okay...so question for all the landlords on here. How many of your tenants are behind on rent and as soon as the moratorium is lifted intend to evict them?

This is what I have heard through the grapevine is going to be the turning point of the housing market. Say 25% evictions, the mortgage on the actual home hadn't been paid or is severely deficient...leading to a drop in rent and/or distressed former rental properties hitting the market in June/July. Recent trends are finding some renters catching up on their past due but there are still some 7M Americans behind on their rent.
I only have 7 properties and zero are late. One had a "hickup" last Summer but is back on track, I didn't make her make the payment. Since the government wouldn't allow me to evict and I faced uncertainty, I went ahead and got one of those PPE loans/grants for $20,800 to cover that uncertainty. My properties are all single family and all but one are in very nice areas, so they aren't "low income" type housing. Those may have trouble.
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Old 04-13-2021, 09:37 AM
 
732 posts, read 390,454 times
Reputation: 1107
Quote:
Originally Posted by KurtAZ View Post
Okay...so question for all the landlords on here. How many of your tenants are behind on rent and as soon as the moratorium is lifted intend to evict them?

This is what I have heard through the grapevine is going to be the turning point of the housing market. Say 25% evictions, the mortgage on the actual home hadn't been paid or is severely deficient...leading to a drop in rent and/or distressed former rental properties hitting the market in June/July. Recent trends are finding some renters catching up on their past due but there are still some 7M Americans behind on their rent.

Probably easier to think about if it was known what percentage of the 7M are apartments with commercial landlords as opposed to small-scale real estate investors.


I suppose that no matter how you set up the policy (do nothing, no-eviction, government-pays-rent,etc.) the laws of unintended consequences were going to kick in.
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Old 04-13-2021, 10:41 AM
 
404 posts, read 765,137 times
Reputation: 914
Quote:
Originally Posted by asufan View Post
I only have 7 properties and zero are late. One had a "hickup" last Summer but is back on track, I didn't make her make the payment. Since the government wouldn't allow me to evict and I faced uncertainty, I went ahead and got one of those PPE loans/grants for $20,800 to cover that uncertainty. My properties are all single family and all but one are in very nice areas, so they aren't "low income" type housing. Those may have trouble.
You got $21k in free money from the taxpayers because your tenant missed a $2000 rent payment?

Good for you. Terrible for the rest of us, and emblematic of just how completely absurd the SBA forgivable loan thing turned out to be.
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Old 04-13-2021, 10:46 AM
 
4,624 posts, read 9,273,155 times
Reputation: 4983
Quote:
Originally Posted by like-2-hike View Post
You got $21k in free money from the taxpayers because your tenant missed a $2000 rent payment?

Good for you. Terrible for the rest of us, and emblematic of just how completely absurd the SBA forgivable loan thing turned out to be.
I understand your frustration. I wasn't going to take the money but when I saw the names of people with 8 and 9 figure net worths and political connections taking money, I was going to get mine too. My family comes first for me and that's that
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Old 04-13-2021, 10:56 AM
 
Location: Phoenix
30,352 posts, read 19,128,594 times
Reputation: 26228
Quote:
Originally Posted by wilberry View Post
"Most of these experts that I've watched are predicting a 30%-50% housing crash starting soon. " ..... has not happened yet..... prices still going up fast all over the West
Not yet, it's going to happen at some point to be triggered when the mortgage forbearance has ended and higher interest put monthly mortgages out of reach of buyers. Prices may climb significantly more before the bubble pops. Government action and the FED have allowed the bubble to expand further.
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