Posted on 05/10/2020 1:49:31 PM PDT by MeneMeneTekelUpharsin
What is really happening with real estate sales right now? Any stories out there? Seems to be one of the best kept secrets right now. Anyone have any truthful information?
The damage to economy will be more apparent in 3rd and 4th quarter. People who are buying now are not affected by the shutdown. But those 20 million newly unemployed will effect sales in later quarters.
In my area, central CA, it’s a buyers market. I want to buy a bigger home with a pool. No problem, but difficult to sell my existing home without taking a beating.
Kind of off topic, but rental car companies are doing very badly now. Hertz may file for bankruptcy. There are so few cars being rented that the rental companies have no place to put the cars. Airport parking lots are full, and the rental car companies are leasing space at sports arenas to park cars. Expect great deals on used cars later this year.
Good point. It is going to lock up the market.
I bought house near a lake in central Minnesota 45k I live in Vegas figured it would be nice for summer. I paid asking price but figured it was priced at least 30k veliw value. If I don’t like it it will rent for 700 a month I think no lose.
Twelve homes in 30 days. That is amazing. Just don’t get the idea that you now have to top that!
I’m actively searching for a new home, and it seems like the number of residential listings in my area is way down. I suspect it’s because a lot of people are in a state of employment uncertainty and may be dealing with their own mortgage situations right now.
Seller’s market in Albuquerque. Houses going in days or hours in some cases.
I am seeing that also, for rent signs in front of new const not yet completed.
Maybe offering rent to own ?
Oh, now that is scary. They're going to take their wretched ideology with them wherever they go. The Democrats are as bad as muslims, they ruin every place into which they move.
This interests me as well
I figure many in Chi Town the NE and NYC area have been on the fence and this crap pushed them over.
You must be kidding me. That's EXACTLY why the Fed prints more money ... to ensure that properties retain at least sufficient value to cover the underlying mortgages.
Thanks for the info.
I live here is the best reason
NY State has declared there can be no evictions or late-fee collections on all renters of both residential and commercial property until at least August 20.
Think what it means for all property owners (at least any below the level of Wall Street Banks) future investment decision-making that NY has basically cancelled all contracts for six months. NY is trodding into Venezuela territory here
NY State deserves all the future collapse and demographic decline that’s coming to it.
I don’t care about what happens in NYC or Chicago. All I want to know is when are the 30 Year Fixed Rate Mortgage rates going to drop to 1% so I can refinance my existing loan.
the center of the empire is one of the few good places to be. Given all the debt and printed money, Government is still very much a growth industry.
Now that is going to leave a mark.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.