Real Estate Questions for experts (that's all of you)

[aggieman08]

In my opinion, and that’s all it is, is once the rent and mortgage forbearance is lifted allowing evictions to occur, you will have a surge of housing come into the market within a few months time period. Those that truly can’t afford rent/mortgage won’t be able to go out and move into a new place so most will end up moving in with family and/or friends. The last report I heard stated 2 million households nationwide have not been paying rent/mortgage. According to the census bureau, there are currently about 140 million housing units in the US. 2 million represents just over 1% of all households.


There are still a LOT of other variables though that can push housing one way or another. One pattern that seems to be emerging though is a lot of similarities between the 2008 crash and today. Oh, you can’t afford it? No problem, we will just stretch out your payments for a few more years.

I share a similar outlook.

[txtrophy85]

I saying the opposite of a crash. I’m predicting a bigger boom.

I’ve Been selling real estate for 14 years and I’m agreeing with you.

Too many factors playing into what is going to be a continued boom for Texas for the foreseeable future. I’m not saying we won’t see a slowdown at some point but I don’t see a bust.

[Hogmauler]

Was talking to a friend of mine that sell r e in Kerr county. Said in their sales meeting there was a consensus that prices are stabilizing. I guess they have to if there’s no inventory. You have to wait till another large ranch gets cut up into 10 acre deer leases then it’s came on again till those are sold.
Have another buddy in F-burg that is an anchor family in Gillespie county real estate. His name is Romney Kowert of Kowert Realty. He told us years ago that hill country sales “may slow down, but I’ve never seen em go backwards”.
I’m praying that the current marxist administration doesn’t get the two-fer they are hoping for. Destroy the economy and the country falls.

[friscopaint]

On radio they said 80,000 moving into DFW this year and more than that predicted for next year......When things went south in 2008 we weathered it much better than other areas of the country, there was still growth here.....I just need it to stay propped up for 6 months to a year so I can sell and move off......

[Patton]

Copy and pasting one of my posts from early July:

The median home price in Austin/Round Rock for May 2021 was $465k (Update- today the median home price based on June 2021 Austin/Round Rock is $482k). We have a massive migration of East and West Coast people coming to town where their median home price is over $1m; sometimes $1.3m depending on which market you look at. And that $1m median home in San Fran is not as nice as the $500k home here in Austin. Many real estate experts have said for years that Austin is undervalued and this correction was due.

Of the 56 headquarters that have left California this year alone, half of them are coming to Texas; and half the ones coming to Texas are coming to Austin.

One good sign for buyers is the past two months has been the lowest number of mortgage applications since pre-Covid; I’m definitely seeing buyer fatigue set in and homes that had 20-30 offers in April are now seeing 5-10 offers.

I think we will see the market level off (not decline) in the next 6 months or so. Which for Austin, a normal market is a Seller’s market. I’m curious what next spring/summer will be like. Is there going to be another big wave/push in the market.

In the meantime, somebody come purchase the 1 acre lot listing I have on Lake Austin I’ll cut you a deal. 3963Westlake.com

[Drop Tine]

I’m trying to talk my wife into selling on a daily basis. With what we could make on our current place I could build another just like it far away from this insane growth and pocket a few hundred thousand.

[RiverRat1]

Places like Austin could slow down once they raise taxes more and become even more liberal. Maybe.

Interest rates are not that much of a factor IMO. Hearing off too many cash deals.

Instead of homes selling for 50-100k over appraised value they may raise appraisals to play catch up..and then homes sell for slightly under LOL Maybe that's the crash coming

[rvd]

I saying the opposite of a crash. I’m predicting a bigger boom.

I’m in line with this with some semblance of a slowdown in a couple years that hopefully contributes to electing a new president

Thanks for acknowledging our expertise Curt🤣

[Benno]

Since you narrowed it down to experts only, I’ll give you my 2cents. As a master of buying high and selling low here’s what I know. I’m not selling so it may be a good time to buy and I’m not buying so it could also be a good time to sell. If my plans change anytime in the future I’ll be sure to let you know.

[Planner]

Curt, here’s a chart I was sent by a friend who works for Magnolia Real Estate here in San Antonio. This was presented to them at quarterly meeting by some real estate guru Chip Gaines had come in. He did the research and made the chart. Take it as you will but I somewhat ageee with it for Austin and San Antonio as those two markets I cover. IMO Austin has been over priced for years and it’s even worse now with little to no inventory. I have clients who said fork it and will not be buying in Austin because they can’t afford what’s left on the market. San Antonio is still climbing in inventory available and prices also. Inventory is thin but more and more people are jumping into sell. I bet San Antonio has another 18 months of this current market trend before we see any slow down whatsoever

Is the released date at the bottom of that chart Dec-17 last December or 2017?


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[Leemo]

If you buy property and sell it for more than what you paid, you make money

[Zmaxhunter]

https://youtu.be/gnOFgbs-eKU

[Huntindad]

Not sure what would slow down the folks moving here from east & west. If they don't slow down, I don't see Texas slowing down in sales.

If the prices around Austin stay stupid high I may sell my house on 5 acres outside of Austin next spring & rent a house in the country till I retire and build our house in a year or 2.

[Rubi513]

If you buy property and sell it for more than what you paid, you make money

True, but the replacement fee will be the same, unless you downgrade.

[txoutdoorsman24]

Is the released date at the bottom of that chart Dec-17 last December or 2017?


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Ya know I’m not sure. I sure hope it wasn’t published in 2017 and used in 2021