Real Estate in 2007

[KSB2424 3,083]

http://www.realestatejournal.com/buysell/m...61122-izzo.html

 

"The worst of the housing bust is over, economists said by nearly 2-to-1 in the latest WSJ.com economic forecasting survey. But they still predict that the average selling price of a house will fall next year"

 

"Just eight of 56 economists expect the Federal Reserve to raise rates beyond the current 5.25% rate before June 2007"

 

 

ETA: What about buying auctioned homes on foreclosure. Anyone ever done this?

 

http://www.realtytrac.com/rtresourcecenter...x?cobrandpk=204

[edjr 5,578]

 

Sometime between june and december of '07 I will buy.

[GutterBoy 2,281]

 

Sometime between june and december of '07 I will buy.

 

 

...a new refrigerator box?

[KSB2424 3,083]

I am currently in the home buying market and hoped to spark a discussion that would give me some insight, opinions, and/or general knowledge in regards to how some of the Geeks thought of the housing market in 2007.

 

I guess I should have titled it about a freaking weekly award or how big of a slut itsjjw is.

 

This bored is rooned.

[Trip McNeely 0]

I am currently in the home buying market and hoped to spark a discussion that would give me some insight, opinions, and or general knowledge in regards to how some of the Geeks thought of the housing market in 2007.

 

I guess I should have titled it about a freaking weekly award or how big of a slut itsjjw is.

 

This bored is rooned.

 

 

If you are going to buy a new home, buy it from Ray Lewis's Limo Driver. He snatches up overpriced properties in his area and then "flips" them for 1/2 of what he paid for them. He has the financial savviness of a piece of toast.

[RLLD 3,455]

Every month the people "in the industry" keep claiming all is well, and its just a slow down etc etc etc....

 

I guess if they keep telling themselves this stuff long enough, they hope people will just be mezmerized by it.

 

2007 should be the best time to buy if only because many sellers will finally lower their prices to something approaching a reasonable price.

 

The sellers need to wake up BIG TIME, and stop gouging people.

[SigEp316 0]

 

Sometime between june and december of '07 I will buy.

 

 

once the trumpjr buys...I'm all over it

[RLLD 3,455]

If you are going to buy a new home, buy it from Ray Lewis's Limo Driver. He snatches up overpriced properties in his area and then "flips" them for 1/2 of what he paid for them. He has the financial savviness of a piece of toast.

 

You could be an absolute ###### like trip here, and gouge someone into poverty like some pr!ck from hell, its a personal choice...

[Trip McNeely 0]

You could be an absolute ###### like trip here, and gouge someone into poverty like some pr!ck from hell, its a personal choice...

 

 

speaking of the devil..........it's Mr. John D. Rockefeller himself ladies and gentlemen !

[vuduchile 1,941]

The time to buy is whenever you focking feel like it.

 

If you have the means, and you want to make the move, then go for it.

 

Timing the market is tricky. Prices may drop, but interest rates could rise. If that happens, then what have you saved?

[Franknbeans 46]

Here is an article that may help. A little general but you get the idea.

[redtodd 7]

 

Sometime between june and december of '07 I will buy.

 

[TD Ryan2 314]

 

kinda' depends on where you are KSB...

 

 

And really, if the real estate market declined so dramatically in a year that was filled with so much positive economic news... what happens when the DOW slips again? when unemployment creeps up again?

 

2006 was a banner year for the economy and the real estate market still slid.

 

What's gonna' happen once the consumer's income and confidence in the economy is reduced?

 

 

IMO, you will still see a dip in prices over the next year... and then after that it may stabilize for a few years... so the notion that "NOW" is the time to buy is a bit overplayed... if you are basing your real estate investment on market conditions, "NOW" may last a few years and really "NOW" may not arrive for another 12 months or so.

 

 

For a local spin: In the Boston suburbs market, I'm seeing tons of homes in the 450k+ range that are just sitting.... some of them 12+ months... some have even given up.

Most of them are new construction: 4BR Colonials, 2000+ sq.ft. homes, .5acre+... these homes are everywhere but they're not selling.

The fact is that the market is flooded with these "McMansions". The "Affordable" homes (ranches, capes, splits @ approx. 350k) are the only properties that can really move... and even they are pretty tough to afford.

So, IMO, we will continue to see a correcton around here... and the market will compress a bit... the price differences between all the new constuction and the older homes will narrow... perhaps it's another 4-5% correction for houses 350k and under and as much as 8-9% for the big new homes.

[Franknbeans 46]

Good questions TDRyan. Here is one guy's take

[Yer mom 2]

 

kinda' depends on where you are KSB...

 

 

End of story, Location. Where I live in OC, CA there has been a slow that is going to rebound almost immediately here. Lack of housing, demand too high. Lots of people sitting on the sidelines waiting to see what happesn. Rates have dropped dramatically in the past few weeks. The market will rebound in high job increase, low job loss areas sooner than later here.

[GutterBoy 2,281]

I just sold a piece of real estate, and I did so for $50K more than a bought it for just a short time ago. I enjoyed gouging the buyer's ass hole, it bled nicely. See I'm a ######, and I sell for market value, that's right I said it, what's up.

[Yer mom 2]

I just sold a piece of real estate, and I did so for $50K more than a bought it for just a short time ago. I enjoyed gouging the buyer's ass hole, it bled nicely. See I'm a ######, and I sell for market value, that's right I said it, what's up.

 

 

A quote from Chris Rock when addressing black males wanting props for taking care of their kids

 

"Thats what your SUPPOSED to do!"

[Lionsjunkie 1]

I'm selling/buying property in SW Florida if anybody needs anything down here

[Yer mom 2]

I'm selling/buying property in SW Florida if anybody needs anything down here

 

 

My dad has 5 houses spread between Port St Lucie and Tampa Bay, whereabouts in SW Fla?

[SayChowda 0]

 

For a local spin: In the Boston suburbs market, I'm seeing tons of homes in the 450k+ range that are just sitting.... some of them 12+ months... some have even given up.

Most of them are new construction: 4BR Colonials, 2000+ sq.ft. homes, .5acre+... these homes are everywhere but they're not selling.

The fact is that the market is flooded with these "McMansions". The "Affordable" homes (ranches, capes, splits @ approx. 350k) are the only properties that can really move... and even they are pretty tough to afford.

So, IMO, we will continue to see a correcton around here... and the market will compress a bit... the price differences between all the new constuction and the older homes will narrow... perhaps it's another 4-5% correction for houses 350k and under and as much as 8-9% for the big new homes.

 

TD Ryan2-

 

Have you been following the condo market at all out here? At least things have finally stopped going up.

[Trip McNeely 0]

I just sold a piece of real estate, and I did so for $50K more than a bought it for just a short time ago. I enjoyed gouging the buyer's ass hole, it bled nicely. See I'm a ######, and I sell for market value, that's right I said it, what's up.

 

 

Wait a second, you made money off your investment? You lowlife piece of sh1t !

[Yer mom 2]

Wait a second, you made money off your investment? You lowlife piece of sh1t !

 

TRIP MCNEELY!!!

Trip McNeely...

Dude, your like a legend around here.....Trip McNeely...wow.

 

Stop claiming your having a hard time getting digits as a freshman....your Trip McNeely!

 

 

Sorry, always wanted to do that

[GutterBoy 2,281]

Wait a second, you made money off your investment? You lowlife piece of sh1t !

 

I know I'm such an ass hole. I should really be selling it for $10K and then trying to cheat on my wife by picking up "chicks" on the internet.

[MDC 5,900]

 

Sometime between june and december of '07 I will buy.

 

I'm planning to buy, too.

 

I've been prices rowhomes in South Philly and I'm hoping to get a place for around $120-$150K. I've always wanted to renovate a place myself - paint, lay down hardwood floor, retile, etc. - and I'd love to take a month off (I have the time) and do nothing but rebuild an old house. Some of these rowhomes in Philly are unassuming from the outside but the structure and architecture is great. I'd sooner buy a cheap place, sink $10K into renovations and double the value of my investment than buy a completed house that won't appreciate as much, especially since some of the neighborhoods to the south of the downtown here are becoming much more expensive/desireable to live in.

[GutterBoy 2,281]

edjr and MDC are both planning on becoming homeowners?

 

What's next, drobeski gets his GED?

 

[TD Ryan2 314]

TD Ryan2-

 

Have you been following the condo market at all out here? At least things have finally stopped going up.

 

no, not as closely.

 

IMO, the condo market was going up because it was all people could afford.

For many 1st time buyers, a home 350k+ just isn't affordable... even though that's what the "starter" homes are/were selling at.

As a result, condos that were 150k or even 200k were the only option... as the housing market steepened, the condo was the only piece of real estate people could afford... thus, the demand for condos held on for a while.

 

I sold a condo 4 years ago. It was the springboard to buying my house. At that time, I sold the unit for the highest price in the history of the development. Since then 7 or 8 more have sold off. A couple of them went for about 4-5% above what I got... the rest have been right in line with or below what I got.

 

That's the extent of what I know about condos. I just haven't been watching them as closely.

[Trip McNeely 0]

I know I'm such an ass hole. I should really be selling it for $10K and then trying to cheat on my wife by picking up "chicks" on the internet.

 

 

I'm sure RLLD will be single again as soon as his wife learns of his "blockbuster" real estate deals.

 

Warren Buffet, he is not

[SayChowda 0]

no, not as closely.

 

IMO, the condo market was going up because it was all people could afford.

For many 1st time buyers, a home 350k+ just isn't affordable... even though that's what the "starter" homes are/were selling at.

As a result, condos that were 150k or even 200k were the only option... as the housing market steepened, the condo was the only piece of real estate people could afford... thus, the demand for condos held on for a while.

 

I sold a condo 4 years ago. It was the springboard to buying my house. At that time, I sold the unit for the highest price in the history of the development. Since then 7 or 8 more have sold off. A couple of them went for about 4-5% above what I got... the rest have been right in line with or below what I got.

 

That's the extent of what I know about condos. I just haven't been watching them as closely.

 

Thanks for the opinion. They have just gone up so much in the Boston area in the past few years. I think that a lot of them are/were overvalued. Now, I am pretty much counting on them to drop significantly in price.

[TD Ryan2 314]

Thanks for the opinion. They have just gone up so much in the Boston area in the past few years. I think that a lot of them are/were overvalued. Now, I am pretty much counting on them to drop significantly in price.

 

I think you'll see them come down.

 

friends of my family are currently selling a condo in the South of Boston suburbs... and it's been a nightmare for them. They had in on the market for nearly a year and at the end of the fall, they just pulled it off.

 

They are a young, professional couple. They both have decent paying jobs. In order to afford a house, they need to move this condo. At this point, they're not even looking for a profit, they just don't want to take a loss.

 

I'd imagine there's a lot of this same story out there.

[MDC 5,900]

edjr and MDC are both planning on becoming homeowners?

 

What's next, drobeski gets his GED?

 

 

And you get platform shoes.

[Lionsjunkie 1]

My dad has 5 houses spread between Port St Lucie and Tampa Bay, whereabouts in SW Fla?

 

between Ft.Myers & Naples...an hour - 1.5 hours S of Tampa area...let me know if I can help with anything.

[Dan Hawkins 0]

I am currently in the home buying market and hoped to spark a discussion that would give me some insight, opinions, and/or general knowledge in regards to how some of the Geeks thought of the housing market in 2007.

 

I guess I should have titled it about a freaking weekly award or how big of a slut itsjjw is.

 

This bored is rooned.

 

 

Hollar at me.....I am a real estate broker.

[swirvenirvin 25]

Not in Michigan I lost 20,000 on a $160,000 condo

 

 

Pretty sweet eh

[vuduchile 1,941]

Michigan condo

 

 

Answer: 2 words that should never be used together by anyone considering a real estate investment.

[swirvenirvin 25]

Answer: 2 words that should never be used together by anyone considering a real estate investment.

 

 

Was a place I could afford 3 years ago close to work

[bostonlager 2,466]

I bought a home this year. I think I got a good deal.

[Rusty Syringes 478]

Man, I had three or four kills last year, but this year I don't have shat!

 

[edjr 5,578]

This thread is full of more lies than a pen!s size length thread.

[redtodd 7]

This thread is full of more lies than a pen!s size length thread.

 

My laughter at you claiming to buy a house was honest.

[SUXBNME 1,340]

My house has dropped from an estimated 400,000 (its highest appraisal so far) to approx 350,000 in the last year and a half or so