Buy the dip in the housing market in 2019


#21

What is maintenance on a house that size? Pool, AC…operating expense must be high. Plus lots of depreciation on newish construction…like buying a new car.


#22

That’s what I did and so far I’m loving it!


#23

Don’t be a sour grape. Energy cost is much cheaper in Texas.


#24

This home is built for snob wannabes. Don’t like the double winding staircase - does not feel cozy at all.


#25

How about picture yourself waltzing down the double winding stairs in a beautiful flowery gown? Does it make it better?


#26

Nope, don’t want prom happening at my house.


#27

#28

Tonight I spoke with my partners in crime at the office, loan officers, P&C, insurance agents, Realtors, etc. This month is going to be hard on everybody. People are stopping from doing remodels and asking for loans with that smiley face as they used to do. There’s no confidence at a higher level.

So, if you are a smart or dumb investor, make your move, or not. :wink:


#29

Interest rates at Bank of America dropped below 4.0 for 30 years fixed. Homes in decent condition are going with multiple offers. This is the latest news from my banker.


#30

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Bay? Where? Fremont?


#31

Milpitas and Fremont. She said one house is going 200k over listing.


#32

There’s definitely a dip in San Francisco (specifically in Sunset) and Daly City area based on my observation. All the houses that I monitored went $150K+ over asking. Going over asking is meaningless when the sales price is clearly lower in comparison to similar properties sold in prior periods.


#33

If Bay Area house prices didn’t dip it would likely be the only place in the world that didn’t dip. Everywhere else is going down.

So my bet is we did dip.


#34

Also, wait until people actually do their taxes in spring. Many may be shocked by their numbers. No, not everybody in the valley is going to benefit from AMT. The middle tier of housing say below 1.5M could suffer.


#35

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Huh? Pretty sure you didn’t check everywhere and I did mention just recently a few times, zip code 78727, 78729 and 78613 are holding steady.


#36

Austin is nowhere according to famed investor @wuqijun. :smile:


#37

Anyway can you still get your tax return for mortgage applications now that government is shut down? Can people still get loans?


#38

The retrieval is still manual? :scream_cat:


#39

I forgot which department has this crazy website that has to be turned off at midnight and over weekends? There are some crazy ancient computers running deep in the bowels of federal government.


#40

I think Austin is better than Bayview.