Housing market trash

[AdamH]

Another data point...those lots on the back east side of Sunset on Riverside drive were $300-400k back in 2019ish and there were tons of em. Now the cheapest one available is almost $600k and is right at the entrance and will be surrounded by mere peasant houses.

I’d never own property on the East side. We closed on our house 3 days before Hurricane Isaias hit as a category 1. As you know it made landfall less than a mile up the coast. Those homes had water up to 5’ up in places. Pools were filled up to the top with sand. Can’t imagine what a worse storm would do.

We rode out the storm. Worse it got for us on the West side was about a foot below our sea walls

 

[CLRracer]

I feel bad for anybody right in the middle of a trade up that may get left holding the bag on their current house. My brother may be in the spot, they closed on new place last month and are just now listing the old one.

I'll admit I'm losing more sleep over it than I would like. And the fed announced they were raising interest rates .75% today

Duane

 

[jcramsey]

I'll admit I'm losing more sleep over it than I would like. And the fed announced they were raising interest rates .75% today

Duane

I feel your pain….

 

[jeepinmatt]

I’d never own property on the East side.

Me either. Nor the west side. But that's cause I ain't a hi-rolla like summa yall

 

[ponykilr]

Federal Reserve raises interest rates by three-quarters percent

The Federal Reserve on Wednesday raised the interest rate to .75 per cent in an attempt to rein in the record high levels of inflation.

www.dailymail.co.uk

 

[AdamH]

Me either. Nor the west side. But that's cause I ain't a hi-rolla like summa yall

Ouch. LOL

 

[VortecJeep]

Me either. Nor the west side. But that's cause I ain't a hi-rolla like summa yall

The wheels in your avatar suggest otherwise

 

[jeepinmatt]

Ouch. LOL

Not throwing shade (I think that's what the kids say?) just looking at price inflation and my single income

 

[Lizooki]

Is the Fed bump of .75 gonna burst the bubble and stop the housing madness?

 

[rockcity]

Is the Fed bump of .75 gonna burst the bubble and stop the housing madness?

Maybe slow it down a little bit it won’t stop it.

 

[RatLabGuy]

All it will do is pare it back the "I'd like to have something bigger/nicer" purchases. The people that are buying bc they had a job relocation or have to move out or whatever... they're still gonna buy no matter what, and as long as we have a supply shortage, that will keep those prices aloft.

IMO I'd expect that prices will level off and maybe come down slightly, but the most visible difference will be things being on the market for a reasonable amount of time (ee.g. multiple weeks to months) instead of the single-digit day stupidity.

 

[paradisePWoffrd]

Not throwing shade (I think that's what the kids say?) just looking at price inflation and my single income

Just have to be willing to take the risk. Most vacation places can be rented enough to cover the yearly mortgage. But you have to be prepared if it cant.

 

[jeepinmatt]

Just have to be willing to take the risk. Most vacation places can be rented enough to cover the yearly mortgage. But you have to be prepared if it cant.

You're not wrong, it's just that latter part that I can't reconcile with yet.

 

[skyhighZJ]

You're not wrong, it's just that latter part that I can't reconcile with yet.

See also: anything you buy to rent out (i.e. investment property)

 

[UTfball68]

One I’ve had my eye on…$100k reduction today…

14620 Old Beatty Ford Rd, Gold Hill, NC 28071 | Zillow

14620 Old Beatty Ford Rd, Gold Hill NC, is a Single Family home that contains 6874 sq ft and was built in 2008.It contains 5 bedrooms and 7 bathrooms.This home last sold for $970,000 in August 2022. The Zestimate for this Single Family is $1,264,700, which has decreased by $3,190 in the last...

www.zillow.com

 

[jeepinmatt]

One I’ve had my eye on…$100k reduction today…

14620 Old Beatty Ford Rd, Gold Hill, NC 28071 | Zillow

14620 Old Beatty Ford Rd, Gold Hill NC, is a Single Family home that contains 6874 sq ft and was built in 2008.It contains 5 bedrooms and 7 bathrooms.This home last sold for $970,000 in August 2022. The Zestimate for this Single Family is $1,264,700, which has decreased by $3,190 in the last...

www.zillow.com

Not my style, but that's a heck of a lot of house for the money.

 

[ncsutj]

This one was listed today in my old neighborhood in Concord. Spec built homes. Aint no way in hell that house is anywhere close to being worth 700k. We built our house in 2012 for 265 and sold for 335 in 2016. I think they missed the timing for that kind of stupidness price.

6727 Coral Rose Rd, Charlotte, NC 28277 | realtor.com®

View 32 photos of this 5 bed, 3 bath, 3634 sqft. single family home located at 6727 Coral Rose Rd, Charlotte, NC 28277 on sale now for $745000.

www.realtor.com

 

[Tom@Hilltop_Machine]

^^^
It's in Ballantyne so you can charge more. I remember when that area was nothing but farmland back in the 1990's.

 

[RatLabGuy]

One I’ve had my eye on…$100k reduction today…

14620 Old Beatty Ford Rd, Gold Hill, NC 28071 | Zillow

14620 Old Beatty Ford Rd, Gold Hill NC, is a Single Family home that contains 6874 sq ft and was built in 2008.It contains 5 bedrooms and 7 bathrooms.This home last sold for $970,000 in August 2022. The Zestimate for this Single Family is $1,264,700, which has decreased by $3,190 in the last...

www.zillow.com

meh. I'd rather have more land and fewer bathrooms.

 

[UTfball68]

meh. I'd rather have more land and fewer bathrooms.

10 acres +/-5 is where I’m at…unless you’re farming, too much upkeep otherwise IMO. I also live with 4 women. 7 baths means I’d get a sink to myself.

 

[RatLabGuy]

10 acres +/-5 is where I’m at…unless you’re farming, too much upkeep otherwise IMO.

Unless its wooded, knobby hillsides etc.

 

[UTfball68]

Unless its wooded, knobby hillsides etc.

I just want to be able to shoot 500-1000yds at home. Wouldn’t mind a perimeter of woods if I could still have the shooting distance.

 

[justjeepin86]

One I’ve had my eye on…$100k reduction today…

14620 Old Beatty Ford Rd, Gold Hill, NC 28071 | Zillow

14620 Old Beatty Ford Rd, Gold Hill NC, is a Single Family home that contains 6874 sq ft and was built in 2008.It contains 5 bedrooms and 7 bathrooms.This home last sold for $970,000 in August 2022. The Zestimate for this Single Family is $1,264,700, which has decreased by $3,190 in the last...

www.zillow.com

I've never understood why anyone would build a big ass, nice house, right on the road.

 

[awheelterd]

I've never understood why anyone would build a big ass, nice house, right on the road.

So everyone riding by can see that they have a big ass nice house.

 

[ncsutj]

^^^
It's in Ballantyne so you can charge more. I remember when that area was nothing but farmland back in the 1990's.

That ain't no where close to Ballantyne. Concord Mills area