How is the real estate market near you?

[Oler Ted]

Have prices stabilized in your area? Going up? Going down?

Anyone holding out to buy a home or rental property?

 

[Zgdaf]

Still going up in Atlanta. 30% of homes are purchased by corps.

I’m holding out, but not deterministic when prices will pull back.

 

[America 1st]

Going up hear inn the

 

[QuanChi]

Still going up in Atlanta. 30% of homes are purchased by corps.

I’m holding out, but not deterministic when prices will pull back.

The corps buying to resale later you think?

 

[Zgdaf]

The corps buying to resale later you think?

Doubt it, probably a long play to collect rent and eventually will sell. Firms like black water are flush with cash..
hopefully they get burned.

 

[quickfeet]

Doubt it, probably a long play to collect rent and eventually will sell. Firms like black water are flush with cash..
hopefully they get burned.

I've always wondered on the logistics of this. You hear about blackwater acquiring all these residential homes. How do they handle property management on all these houses? You know they don't want to be in the property management business themselves. Do they get folded into REITs that are close to ground zero when it comes to property management?

 

[shiv]

I've always wondered on the logistics of this. You hear about blackwater acquiring all these residential homes. How do they handle property management on all these houses? You know they don't want to be in the property management business themselves. Do they get folded into REITs that are close to ground zero when it comes to property management?

Good questions for @TheNJNole

 

[TopHook]

We are up about 20% from last year and have a 1.5 month inventory. If you don't have cash good luck, you basically have to waive all contingencies even if you have cash except for appraisal with financing.

 

[TheNJNole]

Good questions for @TheNJNole

Near me, Hedge Funds have acquired multi-family and large commercial properties. You see groups of Hacedic Jews flipping $1.5-$3mm properties and selling for 2x.

 

[dirtytoeddawg]

Small town. We can’t keep inventory on typical housing. Most listings we offer showings for 3-5 days & then take highest & best.

Working with buyers is extremely stressful as our agents have to be Johnny on the spot or they lose out.

Last 2 years about 70% of buyers are from out of state.

Not sure how much longer this can go on.

 

[TopHook]

Small town. We can’t keep inventory on typical housing. Most listings we offer showings for 3-5 days & then take highest & best.

Working with buyers is extremely stressful as our agents have to be Johnny on the spot or they lose out.

Last 2 years about 70% of buyers are from out of state.

Not sure how much longer this can go on.

Working with a buyer right now and we've probably put in 7 different offer some 20k over asking and still haven't gotten anything. It's all about the terms

 

[ajcgn]

Average price of a detached home here in Toronto is about $1.6M US. Up 20% year over year with two weeks of inventory. The surrounding suburbs are up 30%.
I don’t know where all the money is coming from, but I don’t believe corporate buyers are an issue up here.

 

[ChicagoFats]

Prices keep climbing but the real estate market is jammed up because no one is moving. People have realized that when they sell their house for an exorbitant sum they have to move somewhere. When they go look for somewhere to move they don't see anything else on the market, resulting in people just staying put.

Low interest rates and the great migration from excessive covid policies and high rise living and there are an endless amount of buyers.

Adding to all that the whole work from home phenomena is allowing people to live in cities with more leisure activities.

Prices are up 30% last year. Much of this is due to inflation. Pretty easy to look at a graph of the US money supply and understand that money has to go somewhere. People will value the roof over their head over just about everything else (other than food and water).

Yesterday the Fed aknowledged that inflation was a problem with Jerome Powell saying they would takes steps to get it under control. The question is do you think they will raise interest rates faster than the rate of inflation?

Personally, I don't think they have the will power to raise interst rates fast enough and until they prove me wrong I think prices will continue to climb at a good clip (not as fast as 30% a year though)