Housing in Phoenix

mynameisjonas

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Jan 19, 2019
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This is both the best time to be a seller and the worst time to be a buyer....maybe ever. If you’re selling your house don’t waste your time and money with a realtor you could easily sell it on your own.
 

clonechemist

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CA absolutely is losing people with high incomes, lots of people coming in from southern states for a net gain. People with high incomes are leaving high taxed states, there is no argument it's a fact. You would be stupid not to leave.

We’re talking about net here.

High incomes are often linked to high tax locations.Is Covid shift to wfh breaking that relationship? Will be interesting to see how it plays out.
 

deadeyededric

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Dec 12, 2009
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This is both the best time to be a seller and the worst time to buy a buyer....maybe ever. If you’re selling your house don’t waste your time and money with a realtor you could easily sell it on your own.
No doubt. I was the seller last month and got 140k(asking price)on my townhome with it being on the market for 2 days. Now the shoe is on the other foot and it blows.
 
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mynameisjonas

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The market was already terrible this winter for buyers, but now you have two other variables in play. Spring time is coming up, and people are trying to get in before interest rates go up too much.
 

alarson

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This is both the best time to be a seller and the worst time to be a buyer....maybe ever. If you’re selling your house don’t waste your time and money with a realtor you could easily sell it on your own.

I own my house and a condo i rent out.

Gotta admit if my tenant decided to move out i'd have to think a bit about moving into that and selling my house while the market is hot... then buying another home once things cool down.
 
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AgronAlum

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Jul 12, 2014
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Is this a good time for realtors or is decreased sales volume cancelling out higher commissions from higher prices? I guess it may depend on location.

Its a great time for good realtors. In general, houses are sold as soon as they’re listed. A realtor that’s on top of their game can buy/sell in days, not weeks or months. My parent is a workaholic, so they’re slinging houses like crazy right now.

A realtor that doesn’t respond immediately to requests is ******.
 

BCClone

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construction costs are nuts so it slammed the brakes on some new builds. If people had some contracted, they were fine but looking at prices now is rough. So people want to take advantage of the lower rates and get a nicer home but those in nicer homes have nowhere to go.
 

AgronAlum

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Jul 12, 2014
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This is both the best time to be a seller and the worst time to be a buyer....maybe ever. If you’re selling your house don’t waste your time and money with a realtor you could easily sell it on your own.

Maybe. You’ll save on commission but buying your next is the issue. A lot of the good houses are being sold before listing publicly.

A lot of the larger real estate companies will list houses internally to their own agents before going public on them.
 

BCClone

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Maybe. You’ll save on commission but buying your next is the issue. A lot of the good houses are being sold before listing publicly.

A lot of the larger real estate companies will list houses internally to their own agents before going public on them.
I wonder if the listing thing will blow stuff up. I know the MLSs that we deal with require listing to be up in 24 hours. I know some will drag their feet but they have started getting edgy with each other.
 

AgronAlum

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I wonder if the listing thing will blow stuff up. I know the MLSs that we deal with require listing to be up in 24 hours. I know some will drag their feet but they have started getting edgy with each other.

Im not 100 percent sure on how all of it works, that’s just what I was told. I was told a couple days ago that if we listed our house, there’s no way it would officially hit the market and it would go to a buyer using an agent within the same company.

But then you’re turning around and spending that equity on an equally overpriced house.
 

CycloneDaddy

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Sep 24, 2006
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Im not 100 percent sure on how all of it works, that’s just what I was told. I was told a couple days ago that if we listed our house, there’s no way it would officially hit the market and it would go to a buyer using an agent within the same company.

But then you’re turning around and spending that equity on an equally overpriced house.
I would be asking for a reduced commission rate then if they arent listing it because they are reducing the buyer pool which could get you a lower sell price.
 

AgronAlum

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I would be asking for a reduced commission rate then if they arent listing it because they are reducing the buyer pool which could get you a lower sell price.

In turn, they’re selling it in a day or two for a value you agreed with for the property. The value of having those connections is worth something. The seller is the only one that can sign the papers and agree to a purchase price.

I can get into our story about how realtors are important but I don’t feel like typing it all out. They saved the day after we got stuck with a ****** one that was tied to a builder. This was before my parent got into real estate.
 
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nfrine

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Mar 31, 2006
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In little old Ames, Iowa, the home market is booming. Year over year, the median home sale price is up $50K. Number of homes on the market is down by half. Average days on the market is also down by half.
 

SoapyCy

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In turn, they’re selling it in a day or two for a value you agreed with for the property. The value of having those connections is worth something. The seller is the only one that can sign the papers and agree to a purchase price.

I can get into our story about how realtors are important but I don’t feel like typing it all out. They saved the day after we got stuck with a ****** one that was tied to a builder. This was before my parent got into real estate.
We tried to sell a house twice with no luck and ended up illegally renting it out. Then when we moved I called an agent and she sold it the same day to clients she'd been working with that we would have never found on our own.
 

BCClone

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In turn, they’re selling it in a day or two for a value you agreed with for the property. The value of having those connections is worth something. The seller is the only one that can sign the papers and agree to a purchase price.

I can get into our story about how realtors are important but I don’t feel like typing it all out. They saved the day after we got stuck with a ****** one that was tied to a builder. This was before my parent got into real estate.
But if they had it listed with all, could they have gotten it into a bidding war? Maybe more than asking? Realtors big selling point is they can maximize what you get for your property. If they are selling in a day at asking with a limited pool of buyers, they probably aren’t maximizing your price for you.
 
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dmclone

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“About 32% of households in California can afford to buy a median-priced home, which is around $600,000,” said Oscar Wei, the realtor association’s senior economist and director of research. “Compared to 2012, we were at 52% (across the state). In San Francisco and San Mateo only 12 or 13% of residents can afford to buy a median-priced home there.”
 

RLD4ISU

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In the twin cities the hottest segment is 250-300 because that's considered entry level. But everything up to 750k is flying right now

I've been watching that market for well over a year now. We might be moving up there (job related) this summer/fall and I wanted to see how quickly homes sell and what the average price is for the type of home we want.

It appears you definitely need to have a good realtor that can get you in on something that's not on the market. Or help you be the first one to see the home. Most homes seem to sell within a day or two of going on the market or are listed as "pending" the day they're listed. We moved to Pella a few years ago and found the market to be the same (it still is). The home we purchased wasn't on the market yet.

We really don't want to get into a bidding war and refuse to rushed just because the market is hot. We've considered building or purchasing a home currently being built. And what is the deal with garages that only have a 20-22' depth?!
 

KnappShack

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Nationwide everything is going up.

A house down the street from me that was comparable value to mine just sold for 50k more than mine appraised for a year ago.

This is nationwide. Even the rotten market I'm in is showing life.

Great articles are all over the net to explain. Complex issue for sure. We'd love to move back to California but homes that started with a 6 are now starting with an 8 or 9.

It's the only thing holding us back.
 
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Cyched

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This is nationwide. Even the rotten market I'm in is showing life.

Great articles are all over the net to explain. Complex issue for sure. We'd love to move back to California but homes that started with a 6 are now starting with an 8 or 9.

It's the only thing holding us back.

Still in Chi-town Knappster?