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Glad to hear it is working for you. Would be similar to brrrr, but I want to pay cash initially.
sneakaprince
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I actually paid cash initially. I think a lot of people do (if they have access to cash).
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We think of all these investors taking everything but works both ways. See Zillow/opendoor etc
sneakaprince
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Yeah but the investors have a much larger margin of error. They can also sit on empty properties much longer.
The redfins/ zillows etc are a gift and a curse. They are cutting out the little guys by picking up so many "starter homes". However, for those of us with real estate in hand already they are driving up our comps when we decide to sell. When you combine that with an already apparent housing shortage things could get very interesting in the years to come.
I don't think we will see another crash sometime soon but I do think we will see demand decrease or go sideways in the next year or two.
The redfins/ zillows etc are a gift and a curse. They are cutting out the little guys by picking up so many "starter homes". However, for those of us with real estate in hand already they are driving up our comps when we decide to sell. When you combine that with an already apparent housing shortage things could get very interesting in the years to come.
I don't think we will see another crash sometime soon but I do think we will see demand decrease or go sideways in the next year or two.
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Issue with those huge apps buying up homes was the artificial boost in prices of homes (and the reaction was still a buying frenzy at those prices, so I guess the prices weren’t artificial). Always interested to see and check the local area and see what they are trying to unload these homes at, some at a lost.
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There is an interesting chart that shows also how few homes have been built. If the supply picks up significantly over the next decade then there could quite the stagnation of house prices + would allow a lot more people to buy houses. That’s what I’m waiting for at least - will give it to 3-5 more years of renting to see if something changes.
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This has been posted a couple times. Anybody got the source?There is an interesting chart that shows also how few homes have been built. If the supply picks up significantly over the next decade then there could quite the stagnation of house prices + would allow a lot more people to buy houses. That’s what I’m waiting for at least - will give it to 3-5 more years of renting to see if something changes.
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Idk the sq footage but it was like $11-12k for the whole area you saw including the pavers
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It's really wild out here, bought a place in Covington last year and the estimate is up 200K. Neighbors house just sold for a million as well.
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Mexico is weird. The only restriction is that non-citizens can't buy within 30 miles of the coast. As you can imagine, there's a workaround for that.
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we finna get busyThere is an interesting chart that shows also how few homes have been built. If the supply picks up significantly over the next decade then there could quite the stagnation of house prices + would allow a lot more people to buy houses. That’s what I’m waiting for at least - will give it to 3-5 more years of renting to see if something changes.
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Yea it’s Mexico, so I’m sure there’s a workaround. Money talks. I think the same would happen here in the US if they also did implement any restrictions
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sneakaprince
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Been there
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The zestimate just got updated to 390k
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Bro ... i wouldnt start shopping for a house now .... the market is still crazy and the interest rates are crazy. 5 to 6% is outrageous. Better have cash money.
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I got curious and searched my how’s estimated value based on sold comps recently and it came back at 720k while I paid 525k less than 2 years ago…my loan is about 470k….insanity
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Have someone coming to check out the basement tomorrow. I'm excited.
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Now borrow from yourself and lock in a low rate before any more bumps and buy another place. Rent current home. Profit?
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The rate I got when I bought is lower than what it currently is I believe tho…not sure it would benefit me long term…gotta look deeper into it
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My current rate is 2.875. Was looking at refi to pull cash out for rental but don’t want to nearly double my rate and principle. Will probably go heloc instead.
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2.875 is 
My cash out is 3.71
My cash out is 3.71
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Could you elaborate on this route.?
I'm in a very similar situation with an identical interest rate...
Lots of great info and knowledge in here...
Per various real estate websites (Redfin, Zillow, Remax etc.) My house has appreciated about $200k...
I unfortunately still have PMI on my FHA loan, my understanding is that I can only remove that by refinancing the loan to conventional and realizing my current equity... That however puts me at the mercy of current market rates....
What would you guys recommend.??
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I do this with my coworkers lol
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Some lenders will remove it by doing an appraisal. Other lenders don’t offer it and you would be forced re-fi.
Call your lender and find out. Maybe bluff them that you might re-fi with another lender and your current lender gonna lose the loan. **kanye shrug**
