Real estate
sucks2beme
Posts: 5,601
In the last year instead of those car warranty calls, it's I'd like to buy
your house calls. Mostly they come from Nashville area numbers.
They have the address and my name.
I have also gotten postcards and letters as well. Some local, some not.
Realtors that say they have a buyer, and just people with a cash offer
without ever setting foot inside. Is this happening everywhere?
your house calls. Mostly they come from Nashville area numbers.
They have the address and my name.
I have also gotten postcards and letters as well. Some local, some not.
Realtors that say they have a buyer, and just people with a cash offer
without ever setting foot inside. Is this happening everywhere?
"The legitimate powers of government extend to such acts only as are injurious to others. But it does me no injury for my neighbour to say there are twenty gods, or no god. It neither picks my pocket nor breaks my leg." --Thomas Jefferson
Comments
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Yes. Local investors are even airing one minute TV commercials. It's crazy.
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Our old house we sold to buy our new one last April is showing be worth $132,000 more than we sold it for then and it not a big house.Yamaha RX-A2070, Musical Fidelity M6si integrated amp, Benchmark Dac1, Bluesound NODE 2i, Audiolab 6000CDT CD Transport, Parasound Zphono USB Phono Preamp, Fluance RT85, Ortofon 2M Bronze, Polk L600's, L400, L900's, RC80i's, SVS 3000 Micro, Audioquest Interconnects and Digital Cables, Nordost Silver Shadow Digital Cable, Cullen Gold and Crossover Series Power Cables, Douglas Connection Alpha 12AWG OCC Speaker Cables, Douglas Connection Alpha Analog Interconnect Cables, Douglas Connection Alpha 11 OCC Custom Power Cable, Signal Power Cable, Furman PL-8C 15 Power Conditioner, Sony 65" 900F, Sony UBP-X700, Fios, Apple TV 4K, Audioquest Chocolate HDMI Cables.
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Google Pixels prevent most spam calls from even ringing through & when it does ring you can have the phone talk to them for you with a screen call feature and it types out what they say on screen so you can choose to just hang up on them if you want.afterburnt wrote: »They didn't speak a word of English, they were from South Carolina.
Village Idiot of Club Polk -
Google Pixels prevent most spam calls from even ringing through & when it does ring you can have the phone talk to them for you with a screen call feature and it types out what they say on screen so you can choose to just hang up on them if you want.
I love that screen call feature. I love it even more when the car warranty folks try to hold a conversation with it. 😂 -
When I use to get those overseas Microsoft calls saying to needed to access my computer, I would tell them to hold for a minute and I would go get a whistle and blow it into the phone as loud as I could. The calls stopped after I did it a few times. They were trying to steal money from me so I didn't care if I hurt their ears.Yamaha RX-A2070, Musical Fidelity M6si integrated amp, Benchmark Dac1, Bluesound NODE 2i, Audiolab 6000CDT CD Transport, Parasound Zphono USB Phono Preamp, Fluance RT85, Ortofon 2M Bronze, Polk L600's, L400, L900's, RC80i's, SVS 3000 Micro, Audioquest Interconnects and Digital Cables, Nordost Silver Shadow Digital Cable, Cullen Gold and Crossover Series Power Cables, Douglas Connection Alpha 12AWG OCC Speaker Cables, Douglas Connection Alpha Analog Interconnect Cables, Douglas Connection Alpha 11 OCC Custom Power Cable, Signal Power Cable, Furman PL-8C 15 Power Conditioner, Sony 65" 900F, Sony UBP-X700, Fios, Apple TV 4K, Audioquest Chocolate HDMI Cables.
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“When once a Republic is corrupted, there is no possibility of remedying any of the growing evils but by removing the corruption and restoring its lost principles; every other correction is either useless or a new evil.”— Thomas Jefferson -
I saw an ad on TV for one of those new "investment for the little guy"
outfits. They mentioned shared investments in art and real estate.
Nothing like letting chain block guys into real estate. NFT's are
sketchy enough as it is. Digital art is a ponzi scheme on steroids.
"The legitimate powers of government extend to such acts only as are injurious to others. But it does me no injury for my neighbour to say there are twenty gods, or no god. It neither picks my pocket nor breaks my leg." --Thomas Jefferson -
Commercial real estate....the next bubble to burst. Heard it here folks....
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Pretty much. It's been happening in NC/SC for a while now. It was happening in Florida almost 2 years ago. Part of the reason I'd prefer not to discuss, as it is purely political but is a major reason as to why this is happening.sucks2beme wrote: »Realtors that say they have a buyer, and just people with a cash offer
without ever setting foot inside. Is this happening everywhere?
The other part is new construction can't keep up with the demand and there are investment companies that are definitely NOT helping the buyers out at all. They are paying anywhere between 10% to 25% over market value in many places across the country. The estimated amount of homes that major investors (Wall Street) owns now is really making an impact on not only rental rates skyrocketing but also home sales prices skyrocketing. In some cities, they own 1 out of every 10 houses. Some even have 1 out of every 5.
Case in point, there used to be a healthy 6-8 month inventory in Charlotte. Now, we are lucky to have a 2 week inventory. This, for both new and existing homes. Some of these investment companies are building or buying entire neighborhoods. It used to be they would just buy a house, now it has transformed into every house in a new neighborhood.
This, on top of the investment companies tripping all over each other in order for them to keep portfolios flowing, is making our market have an average yearly appreciation rate of about 25%. Because those on low or fixed income can't afford to buy a home, rental rates have exploded due to the demand.
The wife and I took a look at a small 860sf 1BR apartment that hasn't been updated for over 30 years in our area just for S&G's. $1,200 a month! What in the....??!!??? This apartment is more than 30 miles away from downtown Charlotte, well outside of the city. A typical 4 BR apartment is averaging 2K+ a month. I compare that to our mortgage and wonder just how some people are making it.
When this bubble bursts (along with commercial properties)? Another massive transfer of wealth will once again happen.....and with everything else that's going on with the economy? It will not be good. Devastating would be more like it for many.
Tom
~ In search of accurate reproduction of music. Real sound is my reference and while perfection may not be attainable? If I chase it, I might just catch excellence. ~ -
The realtor I've used for a long time used to mainly list and help buyers find a place to live. Now for them it's mainly become buying up homes as investments for rental income as property managers. Single family homes where I live that are put on the market get snapped up with multiple over asking price offers within 3 days. In my area lately the mom and pop approach to building wealth by keeping a rental property or two is being replaced by investors who buy up run down rental houses that haven't been upgraded then doing over the top remodeling on them to put back on the market with a $100K markup. That's always been done to a degree but it's more common now.
My only concern with this is my property taxes keep going up and up! -
County taxes up 35% Good news is I was de- annexed from the city.
After this year no city taxes, so I'll be saving about $1k a year.
Same day sales are the norm here. Lots of rental property.
That's been the case around here for years. I see a bunch of house rehabs
in the subdivision. The local market was depressed for a decade. It just started
taking off at the time I bought this house. Built in 1998 and it went through two
foreclosures. In 2016 I saw a ton of foreclosures in 2016 when I moved here.
I bought in 2017. Not many at that time. As a cash buyer I was in the driver's seat.
Now it doesn't seem to matter."The legitimate powers of government extend to such acts only as are injurious to others. But it does me no injury for my neighbour to say there are twenty gods, or no god. It neither picks my pocket nor breaks my leg." --Thomas Jefferson -
The place I moved into 6 months ago was just purchased and they're not going resign any leases for what I assume is exactly Emlyn is talking about. Now we all have to find new places to live. This will be my third move in three years at no fault or desire of my own. I'm ready to move into the woods with a Honda generator some chickens, a large box of seeds, & plenty of things that go pewpewpew that I can't be more descriptive of here.afterburnt wrote: »They didn't speak a word of English, they were from South Carolina.
Village Idiot of Club Polk -
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Wow Atlas Real Estate owns Morning Wood Apartments that's the same people that run my building lmao that one's down in CO Springs.
afterburnt wrote: »They didn't speak a word of English, they were from South Carolina.
Village Idiot of Club Polk -
afterburnt wrote: »They didn't speak a word of English, they were from South Carolina.
Village Idiot of Club Polk -
I like being able to tell people I live in a house that's worth half a million $$$ (Zillow told me so)
Only problem is, most people I know live in $750K houses...
So, are you willing to put forth a little effort or are you happy sitting in your skeptical poo pile?
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Mine is Zillow’d At 1.15M, and our condos are 500k each...The Gear... Carver "Statement" Mono-blocks, Mcintosh C2300 Arcam AVR20, Oppo UDP-203 4K Blu-ray player, Sony XBR70x850B 4k, Polk Audio Legend L800 with height modules, L400 Center Channel Polk audio AB800 "in-wall" surrounds. Marantz MM7025 stereo amp. Simaudio Moon 680d DSD
“When once a Republic is corrupted, there is no possibility of remedying any of the growing evils but by removing the corruption and restoring its lost principles; every other correction is either useless or a new evil.”— Thomas Jefferson -
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I like being able to tell people I live in a house that's worth half a million $$$ (Zillow told me so)
Only problem is, most people I know live in $750K houses...
Yeah, that's like our street -- with several $10 million properties on it. We're slummin', you know?
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So what happens when the average person can't afford the average house?
Can you say bubble?"The legitimate powers of government extend to such acts only as are injurious to others. But it does me no injury for my neighbour to say there are twenty gods, or no god. It neither picks my pocket nor breaks my leg." --Thomas Jefferson -
The average person can't afford the average rent either. My brothers complex just raised rent on his 2 bedroom apt. from 2000 a month to 2500. A studio is now 1500....and we are way out in the burbs. My brother in-law in the city pays 4k a month, plus...for a 2 bedroom. You'll own nothing and like it kids, get used to it.HT SYSTEM-
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Polk FX500 surrounds
Cables-
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Acoustic zen Matrix 2 IC's
Wireworld eclipse 7 ic's
Audio metallurgy ga-o digital cable
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Grant Fidelity tube dac
B&k 1420
lsi 9's -
I grew up in a trailer park. No shame about it. I'm all the way up to a 1 bedroom apartment now.afterburnt wrote: »They didn't speak a word of English, they were from South Carolina.
Village Idiot of Club Polk -
When I started renting out my old house, I was asking the high end of the market because, well, the house was worth it.
Less than 4 years later, I'm at the low end of the market on the rent I'm asking and I haven't changed the rent.
But the tenants I have are awesome and I'd rather they stay instead of jacking their rent up several hundred a month just to keep pace with the market.
In fact, they are talking about retiring in about 5-6 years. By then, the mortgage will be paid off and I will probably cut rent for them so they will stay then too.
I'd rather have the asset maintained than to have to constantly search for a new tenant every year or two.Expert Moron Extraordinaire
You're just jealous 'cause the voices don't talk to you! -
Post covid too many landlords are looking to cash in.
So many houses are for rent by LLC's, not landlords.
They only care about $$$"The legitimate powers of government extend to such acts only as are injurious to others. But it does me no injury for my neighbour to say there are twenty gods, or no god. It neither picks my pocket nor breaks my leg." --Thomas Jefferson -
Crazy stuff for sure.
My daughter lives in a small town, has a small "stick" built house she bought 4 years ago, is perfect for her.
An elderly couple used to live next door to her that have since went into an assisted living facility.
Their house was a few sq ft larger, quite dated, not abused and a manufactured home.
It just sold via "contract" sale for 40k more than my daughter's house did.
My relative who just passed. His parents contacted a realtor to start the proceedings to get the house sold, had a buyer come out that day and bought it on the spot, made a VERY nice profit on it.
Even after about 4 years being a retired appraiser, I still get an occasional call from someone asking
questions about some home they are looking at and I can't believe just how out of control the housing
market has gotten. So glad I'm out of the business. -
sucks2beme wrote: »So many houses are for rent by LLC's, not landlords.
They only care about $$$
Once again driven by Wall Street. We have a guy in town here that had several apartment complexes and started right out of high school when his dad bought a 6 unit complex and just started buying more as the time and dollars were right. Fast forward 35 yrs. he was approached by a lawyer for a LLC out of California. Long story short the amount of money they threw at him for his entire apartment/house rental business was insane stupid amount of money. They immediately tried to renegotiate all leases, those who declined to sign new leases with the 300-500+increase were given 30 days to vacate.
Housing is very tight here, there is VERY LITTLE houses that are on the market let alone apartments that are available. If you are in the market for a $4000 a month condo or 1.5 million dollar house you have a few options. Other than that you are homeless. Homelessness has increased tremendously here in the last 10 years and now since COVID skyrocketed. We have something we never had 3 yrs ago....Tent cities. it's shameful actually.
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When will it burst?
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It's not going to burst. Corporations are insulated against it. If they own everything, they can fix prices despite the market trends.Expert Moron Extraordinaire
You're just jealous 'cause the voices don't talk to you! -
It bursts at the pre-planned recession.HT SYSTEM-
Sony 850c 4k
Pioneer elite vhx 21
Sony 4k BRP
SVS SB-2000
Polk Sig. 20's
Polk FX500 surrounds
Cables-
Acoustic zen Satori speaker cables
Acoustic zen Matrix 2 IC's
Wireworld eclipse 7 ic's
Audio metallurgy ga-o digital cable
Kitchen
Sonos zp90
Grant Fidelity tube dac
B&k 1420
lsi 9's
