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I've got a house in a new subdivision 1 year ago for 110k. Have just looked up how much they r selling the same exact house and wow, it is 120, another listing is 133k for the same model! So, I've been monitoring the market because actually we're ready to sell. But wondering what are your thoughts about the possible timeline of the next bubble?
Okay, you bought new....are they still selling new homes out there? Model home still present?
Do not expect to get what price the builder's getting. Think of it as driving a brand new car off the showroom floor. I take it a Realtor didn't help you write the contract to purchase? One of the top pieces of advice is do not buy new if you plan to move before the builder is done.
I've got a house in a new subdivision 1 year ago for 110k. Have just looked up how much they r selling the same exact house and wow, it is 120, another listing is 133k for the same model! So, I've been monitoring the market because actually we're ready to sell. But wondering what are your thoughts about the possible timeline of the next bubble?
All real estate is local. You probably get better predictions in the SC forum.
With that said, housing rarely burst when the economy is good. And it looks like the economy is recovering quite well and can possibly go on for years. Your local economy, of course, may be different.
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Okay, you bought new....are they still selling new homes out there? Model home still present?
Do not expect to get what price the builder's getting. Think of it as driving a brand new car off the showroom floor. I take it a Realtor didn't help you write the contract to purchase? One of the top pieces of advice is do not buy new if you plan to move before the builder is done.
Yes, I understand that people would prefer to buy a brand new home, except maybe those who are in a rush and would rather buy already built house?
All real estate is local. You probably get better predictions in the SC forum.
With that said, housing rarely burst when the economy is good. And it looks like the economy is recovering quite well and can possibly go on for years. Your local economy, of course, may be different.
.
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