There's a lot less competition to get houses under contract, less chance of multiple offers, houses sitting on the market longer, 401K's being decimated and few people out looking but it shouldn't affect RE prices?
Bad time to buy a house?
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Last: 3 yr ago by coastalAg
Yes. As a seller right now, I strongly believe it's a good time to buy.EagleCamden said:
Now is a good time to buy. Real estate prices are not going to be greatly affected. We still have a housing shortage and even though this has slowed what is usually a very busy season for home sales, there is pent-up demand. If Covid 19 leaves quickly, expect a late summer rush of home sales.
If you are looking NOW, as in TODAY (for example), there's hardly any traffic. Most buyers aren't interested in getting out and looking at property, so you would be one of the few. Not only Covid 19 but people's 401k just took a major hit. That means there is a lot less competition to get a home under contract, less likely to face multiple offers, homes sitting longer on the market. Low interest rates, less competition = Good time to buy.
Real estate prices are slow to react, unlike the stock market.jja79 said:
There's a lot less competition to get houses under contract, less chance of multiple offers, houses sitting on the market longer, 401K's being decimated and few people out looking but it shouldn't affect RE prices?
Well it takes 30-45 days for the majority of closings to happen. So most homes previously under contract before mid March probably closed at the amount they originally would have. That data could flow all the way into late April.EagleCamden said:Real estate prices are slow to react, unlike the stock market.jja79 said:
There's a lot less competition to get houses under contract, less chance of multiple offers, houses sitting on the market longer, 401K's being decimated and few people out looking but it shouldn't affect RE prices?
When we look back, we will definitely see the progression in # of listings, # of sales, list price, and sale price for the 6 months starting in March.
I just looked at my subdivision, Gleannloch Farms, which is a decent market. Of the 64 active or under contract listings 28 have had a price reduction.
jja79 said:
The most amazing thing to me about a situation like yours is that the person to whom you must appeal is the person who prepared the report you are appealing. What other profession has no oversight?
Developers in Montgomery County. The county commissioners in Montgomery County.
Officially closed!
Congrats!
Now if anyone could send prospective buyers my way:
https://www.har.com/homedetail/25710-bang-springs-ct-katy-tx-77494/12357132
Now if anyone could send prospective buyers my way:
https://www.har.com/homedetail/25710-bang-springs-ct-katy-tx-77494/12357132
I went under contract on my first home today
Congratssuburban cowboy said:
I went under contract on my first home today
All animals are equal, but some animals are more equal than others
Just relocated to Spring and am renting. Expect some even better opportunities to buy in 9 months or so.
Update- listed today, have 3 showings scheduled for tomorrow. This is in Pearland.
98Ag99Grad said:
Update- listed today, have 3 showings scheduled for tomorrow. This is in Pearland.
LOOOOTS of houses for sale down here.
AgsMyDude said:
Set to close at the end of the month on a rental in B/CS.
Not a fan of all this. But rates are crazy low.
Update. Closed on 4/8. Found tenants and they moved in on 4/26.
Was really sweating it.
98Ag99Grad said:
Update- listed today, have 3 showings scheduled for tomorrow. This is in Pearland.
Got 2 offers and 4 more showings tomorrow. Needless to say this is much better than I expected.
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98Ag99Grad said:98Ag99Grad said:
Update- listed today, have 3 showings scheduled for tomorrow. This is in Pearland.
Got 2 offers and 4 more showings tomorrow. Needless to say this is much better than I expected.
Accepted a cash offer for $1000 under our asking price. 2 week close and theyll lease the house back to us while our new one is being finished.
Wish I knew where less competition was. Every house we offer on has had quite a few offers which and we've lost out on several. Put another offer on a house yesterday and they apparently had showings all day yesterday during the storms and are doing more today.jja79 said:
There's a lot less competition to get houses under contract, less chance of multiple offers, houses sitting on the market longer, 401K's being decimated and few people out looking but it shouldn't affect RE prices?
Seems like there have been plenty of people trying to buy and there aren't enough houses being put on the market.
Hey they are nowhere near as bad as Liberty County. Liberty county took the colonia that was turned down in Montgomery County. Colony Ridge literally went right across Plum Grove Road and bought approval from Liberty County. 20,000 lots and still growing...94chem said:jja79 said:
The most amazing thing to me about a situation like yours is that the person to whom you must appeal is the person who prepared the report you are appealing. What other profession has no oversight?
Developers in Montgomery County. The county commissioners in Montgomery County.
We are in Far North Dallas. We listed our home last Thursday, went under contract on Sunday with 3 offers out of 9 total showings. 2 offers were above asking. We got a smokin deal on the house we're moving into, divorce situation, he's an ER doctor who just wanted to offload the house. Got it before it ever hit the market. A good realtor is worth their weight in gold.
My clients came in second on a house With six offers. Austin area.
Bob_Ag said:
My clients came in second on a house With six offers. Austin area.
In a six offer situation are all 6 realtors told what 'place' they came in?
of course. How would you win your Exacta bet otherwise?
Problem is people are not wanting to list their houses for strangers to come see.
There is a supply problem and that's keeping prices high, so that's good.
There is a supply problem and that's keeping prices high, so that's good.
Our house goes on the market in a few days. Hopefully we have the same success as others on here.
Located just south of FM 1093, and west of Grand Parkway.
Located just south of FM 1093, and west of Grand Parkway.
expresswrittenconsent said:Bob_Ag said:
My clients came in second on a house With six offers. Austin area.
In a six offer situation are all 6 realtors told what 'place' they came in?
No usually just first and Maybe second place
I know the listing agent. She told us we were final two, so process of elimination when our offer wasn't accepted. Otherwise, no, its not typically known.expresswrittenconsent said:Bob_Ag said:
My clients came in second on a house With six offers. Austin area.
In a six offer situation are all 6 realtors told what 'place' they came in?
I wish I had as much competition for my house in BCS. It's been slow.
Yeah. I'm about to have two houses on the books.kyledr04 said:
I wish I had as much competition for my house in BCS. It's been slow.
We listed yesterday and had a showing request come through within 24 hours. Hopefully the holiday weekend will be a busy one.
thann07 said:Yeah. I'm about to have two houses on the books.kyledr04 said:
I wish I had as much competition for my house in BCS. It's been slow.
Me too
The last few post show how true this statement.
All Real Estate is local.
These replies mostly don't show specifics. Where? Price? Subdivision? Taxes? Schools? This is a start.
The DFW market has been on fire for years. Others not as hot right now. It's so specific to your location.
All Real Estate is local.
These replies mostly don't show specifics. Where? Price? Subdivision? Taxes? Schools? This is a start.
The DFW market has been on fire for years. Others not as hot right now. It's so specific to your location.
MoreCushing4thePushing
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AG
I'm in College Station, and I'm putting mine on the market next week. Not really in a rush to sell. Already have the other house and moving into it as we speak.
Got a competitive offer on the first showing. Negotiating now, but looking good.
Houston burbs for reference.
Houston burbs for reference.
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