I also feel that there’s a stronger desire from general population to buy rentals this year. Maybe the second wave of appreciation will be fuled by new investors.
Many long time holdouts are buying now with a strong confidence. Terri and Jane are buying now. They can push price up by 25% easily.
My lawyer is trying to get me to go in with him to buy and restore a 1952 Porsche. Can buy a rusted carcass for $20k
Worth $250k fully restored… Market Top??
Seems like everything
is at a ATH
damn that looks sweet.
My friend loves restoring cars. He has a 1948 Porsche race car worth $250k. He is 79 and still races it.
does he have heirs? I can take care of the 48 porsche no problem.
Saying that made me feel like above.
He has a beautiful 26 year old daughter. She will probably get it. His wife had no interest in the cars.
Has a 1957 Nomad and a custom truck. But more importantly he has one of the biggest garages in Tahoe.
I don’t think there’s strong desire from general population to buy rental (haven’t seen anyone who are buying rental around me (except me) and most of people i saw at open houses were primary home buyers).
However, i have many friends who recently bought houses in more expensive neighborhood while they keep thier current home(SFH) and converted it into rental.
I guess it becomes new norm (i know many people have done this before but recently such trend becomes even stronger even with SFH.).
Thus, price will go up due to lack of inventory.
I see two kind of buyers, mostly primary home buyers.
Not bought any home, looking for deals. They do not understand market, staying away or trying to low bid as usual.
Those who bought Condo/TH, few years back, thinking prices will come down. Now they realize they miss (FOMO) SFH, buying homes leaving Condos/TH as rentals.
Low bid occasionally works. Some houses in RWC went pending quickly and closed below ask. Maybe one in 10.
From what I’ve seen in the BA, this is the rule of thumb:
- Don’t wait for the perfect house or for a drop, just buy whatever you can afford
- Don’t sell
It’s never a wrong decision to buy in the BA if you are holding long term.
Are we near an intermediate high or a multi-year high? Short-term high is irrelevant to us from a lifespan perspective. Intermediate high is irrelevant to millennials like tomato and BAJacket, could be relevant to me since I am really old.
Why is it relevant to you? Did you plan to sell?
I think the demand might pick up soon.
You’re not old hanera. Age is a state of mind. I just saw that the book about you is about to have a movie come out! You dashing Nick Young you We got @harriet starring as Rachel. @manch as Colin and @wuqijun as Goh Wye Mun.
Some of us are crazy. Some of us are rich. But none of us are crazy rich.
Meteor Garden copycat
Not in my habit to sell.
I’m an F4 fan.