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More real estate doom and gloom

6thElement

6thElement

Schrodinger's Immigrant
Jul 29, 2008
15,945
13,197
DaveW said:
So a bit of haggling and my offer's just been accepted.

Introducing Chateau Spacemonkey.
alpine-property.com

Appt. Domaine des Cimes #27 - St Jean d'Aulps & Vallée

A neat and tidy ski-in, ski out studio apartment with balcony.
alpine-property.com
Bit further out of town than I'd like yet at 9.1km to the SuperMorzine lift I'm fine with that kind of a pedal.
But if I want to go skiing..... it's "on Piste"
Click to expand...
Monkey gathering 2020.
If @Toshi sees that price he might reconsider his ski condo ponderings again.
 
SkaredShtles

SkaredShtles

Michael Bolton
Sep 21, 2003
65,648
12,706
In a van.... down by the river
DaveW said:
So a bit of haggling and my offer's just been accepted.

Introducing Chateau Spacemonkey.
alpine-property.com

Appt. Domaine des Cimes #27 - St Jean d'Aulps & Vallée

A neat and tidy ski-in, ski out studio apartment with balcony.
alpine-property.com
Bit further out of town than I'd like yet at 9.1km to the SuperMorzine lift I'm fine with that kind of a pedal.
But if I want to go skiing..... it's "on Piste"
Click to expand...
Wait... if purchase is that cheap... how much are rentals there?!? Asking for a friend.
 
ALEXIS_DH

ALEXIS_DH

Tirelessly Awesome
Jan 30, 2003
6,147
796
Lima, Peru, Peru
who would have thought that central banks dumping billions of cash to "estimulate" the economy would have ended up with financial gymnastics and said money parked in real estate.
 
slyfink

slyfink

Turbo Monkey
Sep 16, 2008
9,323
5,074
Ottawa, Canada
DaveW said:
So a bit of haggling and my offer's just been accepted.

Introducing Chateau Spacemonkey.
alpine-property.com

Appt. Domaine des Cimes #27 - St Jean d'Aulps & Vallée

A neat and tidy ski-in, ski out studio apartment with balcony.
alpine-property.com
Bit further out of town than I'd like yet at 9.1km to the SuperMorzine lift I'm fine with that kind of a pedal.
But if I want to go skiing..... it's "on Piste"
Click to expand...
Nice! Congrats. THat's where my cousin lives. She has a restaurant in the main square in Les Gets. My other cousin, her brother has a ski/bike shop in Les Gets too. Le Vermont. Such a rad part of the world... enjoy!
 
Pesqueeb

Pesqueeb

bicycle in airplane hangar
Feb 2, 2007
40,302
16,744
Riding the baggage carousel.
Anecdotally:

There were quite a number of homes for sale in my old hood. Small mountain town that has of late been a shell game of no look real estate purchases turned into Air B&B's, or once a quarter vacation homes for the Los Angeles monocle class. In my previous life, a slew of available homes up there were pretty good indicators of an impending downturn. But again, anecdotally.
 
Brian HCM#1

Brian HCM#1

MMMMMMMMM BEER!!!!!!!!!!
Sep 7, 2001
32,119
378
Bay Area, California
Pesqueeb said:
Anecdotally:

There were quite a number of homes for sale in my old hood. Small mountain town that has of late been a shell game of no look real estate purchases turned into Air B&B's, or once a quarter vacation homes for the Los Angeles monocle class. In my previous life, a slew of available homes up there were pretty good indicators of an impending downturn. But again, anecdotally.
Click to expand...
Have property values gone up since in the last few years, stagnant or dropped towards 2009-2014 values? The market here has leveled off, no more $50K-$100K over asking offers. However, things in the Bay Area are still moving at a steady pace. Not flying off the shelves like the last few years though, but still moving and selling for around asking +/-..
 
Pesqueeb

Pesqueeb

bicycle in airplane hangar
Feb 2, 2007
40,302
16,744
Riding the baggage carousel.
Brian HCM#1 said:
Have property values gone up since in the last few years, stagnant or dropped towards 2009-2014 values? The market here has leveled off, no more $50K-$100K over asking offers. However, things in the Bay Area are still moving at a steady pace. Not flying off the shelves like the last few years though, but still moving and selling for around asking +/-..
Click to expand...
According to zillow:

93271 Home Prices & Home Values | Zillow

93271 Home Prices and Home Values
www.zillow.com www.zillow.com

Wife's aunt and cousin both seemed to indicate that the market has been super hot and has only slowed in the last month or two, but seemed to think it had more to do with the town council getting pretty serious about cracking down on airbnb's. Most of the new Park employees can't afford to live in down and are all commuting from the valley, a solid hour commute, at least.
 
ALEXIS_DH

ALEXIS_DH

Tirelessly Awesome
Jan 30, 2003
6,147
796
Lima, Peru, Peru
Brian HCM#1 said:
Have property values gone up since in the last few years, stagnant or dropped towards 2009-2014 values? The market here has leveled off, no more $50K-$100K over asking offers. However, things in the Bay Area are still moving at a steady pace. Not flying off the shelves like the last few years though, but still moving and selling for around asking +/-..
Click to expand...
Demand for places like SF, new york, london and the like will likely keep steady or level as long as there are more humans. The market for those properties is global, thus a bit protected from the effects of the US economy.
 
Brian HCM#1

Brian HCM#1

MMMMMMMMM BEER!!!!!!!!!!
Sep 7, 2001
32,119
378
Bay Area, California
Pesqueeb said:
According to zillow:

93271 Home Prices & Home Values | Zillow

93271 Home Prices and Home Values
www.zillow.com www.zillow.com

Wife's aunt and cousin both seemed to indicate that the market has been super hot and has only slowed in the last month or two, but seemed to think it had more to do with the town council getting pretty serious about cracking down on airbnb's. Most of the new Park employees can't afford to live in down and are all commuting from the valley, a solid hour commute, at least.
Click to expand...
The real estate market tends to dip this time of year until about feb/march. True as far as vacation rentals go too. I know South Lake Tahoe put a stop to airbnb's as it was getting out of hand with some renters in the quite neighborhoods
 
Brian HCM#1

Brian HCM#1

MMMMMMMMM BEER!!!!!!!!!!
Sep 7, 2001
32,119
378
Bay Area, California
ALEXIS_DH said:
Demand for places like SF, new york, london and the like will likely keep steady or level as long as there are more humans. The market for those properties is global, thus a bit protected from the effects of the US economy.
Click to expand...
We have the Silicon Valley that keeps the area thriving. Hate to see what happens if they all get up and leave the state.
 
Westy

Westy

the teste
Nov 22, 2002
54,408
20,200
Sleazattle
Last year a neighbor sold her little cottage similar to my place. It got bulldozed and a rather large and thankfully tasteful luxury home built in place. It sold in July for 1.8 million and the new owners have yet to occupy or attempt to rent. I don't get it. Tax records show it was sold to a rather American sounding couple and not some investment corporation.
 
mandown

mandown

Poopdeck Repost
Jun 1, 2004
20,243
7,773
Transylvania 90210
jonKranked said:
i read a report elsewhere that in china there are entire cities of vacant, brand new apartments.
Click to expand...
It’s printing money.
Own old property (#1).
Develop old property.
Adjacent property values rise because new development.
...
Buy adjacent property (#2) and develop it.
Adjacent property values rise because of new development, including value of property #1.
...
Rinse & repeat.

Fuck occupancy and rent collections. It’s the assumed and marketed value of the thing adjacent to your property that raises the value. So just keep buying developing. Because who would develop buildings without occupants. Obviously there’s a tenant out there, especially in a city with a housing crisis. Ignore the fact that nobody can afford the asking prices and rents.
 
jstuhlman

jstuhlman

bagpipe wanker
Dec 3, 2009
16,681
13,026
Cackalacka du Nord
mandown said:
It’s printing money.
Own old property (#1).
Develop old property.
Adjacent property values rise because new development.
...
Buy adjacent property (#2) and develop it.
Adjacent property values rise because of new development, including value of property #1.
...
Rinse & repeat.

Fuck occupancy and rent collections. It’s the assumed and marketed value of the thing adjacent to your property that raises the value. So just keep buying developing. Because who would develop buildings without occupants. Obviously there’s a tenant out there, especially in a city with a housing crisis. Ignore the fact that nobody can afford the asking prices and rents.
Click to expand...
see: Florida, South, ca. 2004
 
Pesqueeb

Pesqueeb

bicycle in airplane hangar
Feb 2, 2007
40,302
16,744
Riding the baggage carousel.
Nick said:
Watch for real estate deals, coming soon.
Click to expand...
Coming soon to a real estate market near you?

Share of Mortgage Loans in Forbearance Rises to 5.95% | Mortgage Bankers Association

;
www.mba.org

The Mortgage Bankers Association's (MBA) latest Forbearance and Call Volume Survey revealed that the total number of loans now in forbearance jumped from 3.74% of servicers' portfolio volume in the prior week to 5.95% as of April 12, 2020.
<snip>
"Mortgage servicers are performing an essential function of the housing finance system by continuing to advance funds to investors at a time when roughly 3 million homeowners are now in forbearance.
Click to expand...
 
dan-o

dan-o

Turbo Monkey
Jun 30, 2004
6,499
2,805
No need to panic yet, the wholesale foreclosures won't occur until after a massive Fed bailout that will ultimately 'fall short of expectations, forcing our hand towards this unfortunate reality.'
 
Pesqueeb

Pesqueeb

bicycle in airplane hangar
Feb 2, 2007
40,302
16,744
Riding the baggage carousel.
Median house price here is now more than DOUBLE what we paid in 2004, and I thought we got ripped off at those prices. I know I've been saying it for more than a decade now, but I do not understand how any of this is sustainable.

www.outtherecolorado.com

Colorado Springs cost of living surges to 23-year high | OutThere Colorado

The cost of living in Colorado Springs surged to a 23-year high in the first quarter as home prices continue to climb amid a hot housing market, a national survey
www.outtherecolorado.com www.outtherecolorado.com
 
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