Jewtoys Posted June 6, 2017 Report Share Posted June 6, 2017 We're due. In fact.... overdue. Granted, 614 will be less affected. But, a down market is in the future and is said to begin in 4Q 17. Oh it's coming... Unless you sold at a crazy deal, desperately need something, or don't care about money. Why are so many of you, purchasing at a market high? Quote Link to comment Share on other sites More sharing options...
SRTurbo04 Posted June 6, 2017 Report Share Posted June 6, 2017 Why are you guys moving? Didn't you guys just get that place? Quote Link to comment Share on other sites More sharing options...
TimTaylor751647545500 Posted June 6, 2017 Author Report Share Posted June 6, 2017 Why are you guys moving? Didn't you guys just get that place? 3 years ago. Basically because of what we're discussing here and that there's nothing to do in Johnstown. Hindsight. Quote Link to comment Share on other sites More sharing options...
Diamonds Posted June 6, 2017 Report Share Posted June 6, 2017 Meh. In the words of Bruno Mars "Don't believe me just watch"... Quote Link to comment Share on other sites More sharing options...
Diamonds Posted June 6, 2017 Report Share Posted June 6, 2017 Oh it's coming... Unless you sold at a crazy deal, desperately need something, or don't care about money. Why are so many of you, purchasing at a market high? Yep, we've been looking for 1.5 years and completely stopped our search until 1Q 18 just to see what happens. I've seen houses climb 150k in some neighborhoods in yhe past 18 months. Quote Link to comment Share on other sites More sharing options...
Jewtoys Posted June 6, 2017 Report Share Posted June 6, 2017 Yep, we've been looking for 1.5 years and completely stopped our search until 1Q 18 just to see what happens. I've seen houses climb 150k in some neighborhoods in yhe past 18 months. It's the same here in certain areas of Charlotte. I moved off the lake, because pricing was so high. Hard not to take advantage of that. Bought another home, with the intentions of being in it under 5 years and have been looking for a good deal on empty land along the lake to build exactly what I want. I can't stomach something dropping 50-150k in value, or waiting a lifetime to recoup that. Some people just don't give a shit though...... to not be Jewish.... Quote Link to comment Share on other sites More sharing options...
BStowers023 Posted June 6, 2017 Report Share Posted June 6, 2017 I was 100% all in on buying my first home this spring/summer. I'm not even entertaining it now. I'll wait for the next market crash and then cash in Quote Link to comment Share on other sites More sharing options...
Got-Boost? Posted June 7, 2017 Report Share Posted June 7, 2017 Tell me about it, this market is stupid and idiots are only making it worse. We've lost out on three homes and all sold for well over asking price. These morons are waving the appraisal and in some cases the inspection which is suicide. The one house I really wanted we offered $10k over asking and lost by $2k. The kicker is it was bought by someone as an investment house under a conventional loan and now he's trying to rent it for $2,500 a month...lol. Oh it's coming... Unless you sold at a crazy deal, desperately need something, or don't care about money. Why are so many of you, purchasing at a market high? I agree,....I don't see how this many people can afford the housing at these prices. To many overpaying IMO and they are going to default if they can't move it in a few years. I understand Columbus is growing and many jobs here but don't see how many of those jobs can support a $400-600k+ mortgage. If our latest offer doesn't work out I'm leaning to buy a foreclosure or cheap place and just rack up more cash. Quote Link to comment Share on other sites More sharing options...
Brandon Posted June 7, 2017 Report Share Posted June 7, 2017 In the words of Bruno Mars "Don't believe me just watch"... While it is possible...I do not see it personally. There are some indicators that may indict a slow down (rates rising predominately), I do not believe you will see drastic price cutting. So long as you're not planning on a quick in and out exit in a home and have good equity and a solid term on a note you can be pretty secured if you need to ride a wave. Sell high buy high right...ha? I believe (as many economists) we are just returning to equilibrium (some areas seeing some inflation now, but few). All this hub-bub about "shits to expensive" is really lost from what you have seen depressed for the last 10 years. Those were HISTORIC lows, these are HISTORIC lending rates. The short sided nature nature on real estate is ironic in its nature. Quote Link to comment Share on other sites More sharing options...
Zx2guy19 Posted June 7, 2017 Report Share Posted June 7, 2017 Yeah, I don't see it crashing anytime soon either. I do see it slowing down, but that was also supposed to the case for the first quarters of 2017. From an investor standpoint, it's a fucking nightmare. I just had to bid 10k over on a 20k house the other day...that's 150% of the price lol. Granted it was a killer deal, but still...3 years ago I would have bid 16k and gotten it. I sold my personal house in Hilliard and set the new highest price in the whole neighborhood. Turned around and got a good deal in Old Town East where my mortgage is $950 and I rent the other house (it's 2 houses on 1 plot of land) for $1500. Deals are out there, just have to be patient. Quote Link to comment Share on other sites More sharing options...
AngryBMW Posted June 7, 2017 Report Share Posted June 7, 2017 Yep, we've been looking for 1.5 years and completely stopped our search until 1Q 18 just to see what happens. I've seen houses climb 150k in some neighborhoods in yhe past 18 months. I was wondering why I haven't been able to get a response to my emails to you... Yeah, I don't see it crashing anytime soon either. I do see it slowing down, but that was also supposed to the case for the first quarters of 2017. From an investor standpoint, it's a fucking nightmare. I just had to bid 10k over on a 20k house the other day...that's 150% of the price lol. Granted it was a killer deal, but still...3 years ago I would have bid 16k and gotten it. I sold my personal house in Hilliard and set the new highest price in the whole neighborhood. Turned around and got a good deal in Old Town East where my mortgage is $950 and I rent the other house (it's 2 houses on 1 plot of land) for $1500. Deals are out there, just have to be patient. -Marc Quote Link to comment Share on other sites More sharing options...
Zx2guy19 Posted June 7, 2017 Report Share Posted June 7, 2017 -Marc Yeah dude, you already know you're the man lol. Quote Link to comment Share on other sites More sharing options...
oh8sti Posted June 7, 2017 Report Share Posted June 7, 2017 I bought my house in Nashville in sept 2016. Recent appraisal is $60k over what I paid. I was able to get the house mainly because it was a cash deal and closed in 8 days. The seller was out of country and didn't want to deal with it anymore. Needless to say, the market is almost identical to Columbus, just hotter. Everything under $450k is going for cash. I don't think ill ever sell this house. Its nuts here. Quote Link to comment Share on other sites More sharing options...
AngryBMW Posted June 7, 2017 Report Share Posted June 7, 2017 I bought my house in Nashville in sept 2016. Recent appraisal is $60k over what I paid. I was able to get the house mainly because it was a cash deal and closed in 8 days. The seller was out of country and didn't want to deal with it anymore. Needless to say, the market is almost identical to Columbus, just hotter. Everything under $450k is going for cash. I don't think ill ever sell this house. Its nuts here. The housing market nationwide is blowing up. I do feel this is a 'short-term' market...but it has been this way for the past 2 years and does not look like it will be slowing down for at least the next 2 years. There is a shortage of homes for sale everywhere which is what is driving up prices...supply and demand 101. It's a great time to be a realtor or mortgage originator...but make sure you bank as much as possible as it won't always be this way. PS...I can write loans in TN if you'd like to recoup some of that cash and let it work for you in different investments... -Marc Quote Link to comment Share on other sites More sharing options...
Diamonds Posted June 7, 2017 Report Share Posted June 7, 2017 I was wondering why I haven't been able to get a response to my emails to you... -Marc We made the decision last week. I don't get emails from you?!?! Quote Link to comment Share on other sites More sharing options...
AngryBMW Posted June 7, 2017 Report Share Posted June 7, 2017 We made the decision last week. I don't get emails from you?!?! Still using the gmail account? Shoot me a note from your preferred email address and I will update my system. Thanks! Marc Quote Link to comment Share on other sites More sharing options...
Geeesammy Posted June 7, 2017 Report Share Posted June 7, 2017 So since I am apprently wrong (by CR standards) when WILL be the right time to buy? All the stuff I see near me (Dayton/Cincy) corridor is 15-20% higher than what I think its worth. Quote Link to comment Share on other sites More sharing options...
Diamonds Posted June 8, 2017 Report Share Posted June 8, 2017 So since I am apprently wrong (by CR standards) when WILL be the right time to buy? All the stuff I see near me (Dayton/Cincy) corridor is 15-20% higher than what I think its worth. I'm waiting until Jan to see what happens in 4Q of this year. I also won't hesitate to buy my dream home if it is priced right. Quote Link to comment Share on other sites More sharing options...
LJ Posted June 8, 2017 Report Share Posted June 8, 2017 So since I am apprently wrong (by CR standards) when WILL be the right time to buy? All the stuff I see near me (Dayton/Cincy) corridor is 15-20% higher than what I think its worth. Another year or so the large builders should be back in full swing and should help ease inventory issues. Quote Link to comment Share on other sites More sharing options...
BigOxley Posted June 8, 2017 Report Share Posted June 8, 2017 Being single, I'm debating selling my Grandview place and moving into an small apartment until the market cools off. I could sell tomorrow for $100k-$125k higher than I bought for 9 years ago. Decisions decisions Sent from my iPhone using Tapatalk Quote Link to comment Share on other sites More sharing options...
STEVE-O Posted June 8, 2017 Report Share Posted June 8, 2017 Being single, I'm debating selling my Grandview place and moving into an small apartment until the market cools off. I could sell tomorrow for $100k-$125k higher than I bought for 9 years ago. Decisions decisions Sent from my iPhone using Tapatalk Being single and with the options I would sell and rent a cheap place until later when the market "levels" out a little more. Take the extra money you make and let it continue to work for you in the between time Quote Link to comment Share on other sites More sharing options...
Brandon Posted June 8, 2017 Report Share Posted June 8, 2017 Another year or so the large builders should be back in full swing and should help ease inventory issues. As long as Trump doesn't build the wall! (sarcasm) or stop immigration (sarcasm). But I agree with you. Quote Link to comment Share on other sites More sharing options...
Supplicium Posted June 8, 2017 Report Share Posted June 8, 2017 any "cool off" around here is going to be single digit % for a long while. The large swings will happen to the people that REALLY overpay for a place. There is no right time but you can limit vastly overpaying. Its hard to do now because it seems like every guy is overpaying, great for sellers obviously. Alot of this going on is in the sub 500k market, higher up stuff seems more steady Quote Link to comment Share on other sites More sharing options...
Forrest Gump 9 Posted June 8, 2017 Report Share Posted June 8, 2017 Being single, I'm debating selling my Grandview place and moving into an small apartment until the market cools off. I could sell tomorrow for $100k-$125k higher than I bought for 9 years ago. Decisions decisions Sent from my iPhone using Tapatalk I would sell anything in Grandview right now and pocket the money. The only reason you want in Grandview is for the school. Quote Link to comment Share on other sites More sharing options...
LJ Posted June 8, 2017 Report Share Posted June 8, 2017 any "cool off" around here is going to be single digit % for a long while. The large swings will happen to the people that REALLY overpay for a place. There is no right time but you can limit vastly overpaying. Its hard to do now because it seems like every guy is overpaying, great for sellers obviously. Alot of this going on is in the sub 500k market, higher up stuff seems more steady It will be more of a normal market, but I don't think we will see much overall decrease. Quote Link to comment Share on other sites More sharing options...
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