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I am just curious as to what you think about the state you live in. Where do you live? Do you think your state will ever hit bottom? Is the market still good in your area? I am not so much interested in data, charts and statistics but more just your personal opinion. You hear so much about the real estate market nation wide but not in each individual state. I live in Oklahoma and I hear on the news that Oklahoma's market is still good. The home prices are still increasing and homes are selling still it just takes a little longer. I don't see many homes for sale either, and not sure if people just are staying put. I know in the state of Utah the market is very bad, particularly the southern part of the state. I am very interested in that area as we will be moving there in three years. My real estate agent said that area hasnt even begun to hit bottom yet. My son lives in Houston, Texas and he feels that the market is still good and homes are selling pretty fast.
Texas RE was somewhat buffered from the quick rise in prices due to our high property taxes.
In retrospect, that saved our butts from becoming another California !
We are definitely hitting bottom in some parts of Michigan. In some areas houses are selling for $1. Cant get any lower than that unless they pay you to take them.
We are definitely hitting bottom in some parts of Michigan. In some areas houses are selling for $1. Cant get any lower than that unless they pay you to take them.
Really? Never heard of homes being sold for $1 How does that work? Are they in forclosure or what?
I remember hearing once.. that new homes could be bought in North Dakota for like $13-14k, I think he means that no one wants to live there.. cause there's no jobs/options kind of areas.. which is what North Dakota is supposed to be
Bank owned homes are selling for much less than replacement costs in my area. We will need some level of job improvement before we hit a true bottom. In some neighborhoods the inventory has become more like normal levels.
Back in the early 80's Baltimore sold homes for $1 as long as the buyer committed to fix it up and to live in it for a number of years. These were inner city homes and the neighborhood was considered "bad".
The end result was that yuppies bought the properties and with in a few years it was an "upscale" neighborhood. I think the concept is to provide incentive to restore a troubled area.
I remember hearing once.. that new homes could be bought in North Dakota for like $13-14k, I think he means that no one wants to live there.. cause there's no jobs/options kind of areas.. which is what North Dakota is supposed to be
Ok but he is in Michigan. I still dont understand it. You buy the home for $13k and thats it. What would keep people from going there and buying a home and then renting it out and living in their state?
Bank owned homes are selling for much less than replacement costs in my area. We will need some level of job improvement before we hit a true bottom. In some neighborhoods the inventory has become more like normal levels.
Back in the early 80's Baltimore sold homes for $1 as long as the buyer committed to fix it up and to live in it for a number of years. These were inner city homes and the neighborhood was considered "bad".
The end result was that yuppies bought the properties and with in a few years it was an "upscale" neighborhood. I think the concept is to provide incentive to restore a troubled area.
Oh ok so you would have to live in the home then for a number of years...that makes sense.
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I am just curious as to what you think about the state you live in. Where do you live? Do you think your state will ever hit bottom? Is the market still good in your area? I am not so much interested in data, charts and statistics but more just your personal opinion. You hear so much about the real estate market nation wide but not in each individual state. I live in Oklahoma and I hear on the news that Oklahoma's market is still good. The home prices are still increasing and homes are selling still it just takes a little longer. I don't see many homes for sale either, and not sure if people just are staying put. I know in the state of Utah the market is very bad, particularly the southern part of the state. I am very interested in that area as we will be moving there in three years. My real estate agent said that area hasnt even begun to hit bottom yet. My son lives in Houston, Texas and he feels that the market is still good and homes are selling pretty fast.
