Local real estate market

[fatfillup]

The local market has been crazy good for sellers locally.  On my street of about 20 houses, 4 have sold in the last year and all moved quickly.  One just went on the market friday and the traffic has been non stop all weekend.  I believe they were taking offers until  today and will almost assuredly sell it, most likely for over list.  To be fair, the house was completely renovated by pro flippers who lived there for about a year.  It looks real nice inside and out so interest is high.  We also live in a desirable neighborhood as we are on a dead end street, in a great school district and 15 minutes off the Baltimore beltway.

If a property comes on  the market you have better look at it within a day or 2 or it will be gone.  We missed a couple of places ourselves that way.  Didn't see them quick enough

Inventory is low and demand is high.  will settle out sooner or later but right now is a great time to sell

[skfarmer]

yea,,,,,,,,but do they know there is a crotchety old tool collector disguised as a pressure washer salesman who is way overchicked that lives in the neighborhood?



i even heard he serves cookies in church! 

[highland512]

It seems real estate outside of cities is on fire. A good friend of mine is a realtor around INDY, she was saying people in the inner city are moving to the suburbs, people in the suburbs are moving into rural areas, and you cant give away apartments down town. She said a majority of it is people who no longer have to work in the office and now work remotely. 

[goodfellow]

Neighbors just sold their house last month. They were overwhelmed with offers, and actually received $20K over asking price. What's really interesting is that the majority of interested parties were from the NJ or NYC area. Yankees are fleeing their cities in droves.

[bonneyman]

I have not seen any change in home sales in my immediate neighborhood (I do keep an eye on things!) but I keep hearing about all the Calif transplants flooding into Arizona.

Although I am seeing alot more traffic on the roads these days. I know some of it might be people just getting out after the COVID lockdown, but it really seems like the levels of traffic seen during the winter months with the "snow birds". Yet it's still record breaking heat in September.

[fatfillup]

yea,,,,,,,,but do they know there is a crotchety old tool collector disguised as a pressure washer salesman who is way overchicked that lives in the neighborhood?



i even heard he serves cookies in church! 

I didn't know people thought I was crotchety 

And you made Mama smile too


Highland, makes alot of sense about folks wanting to move out of the city

[jabberwoki]

Yeah my dreams of finding a cheaper place in Wy are over. the local guy I talked to said everything's selling like hot cakes.

[DeadNutz]

We are getting the people fleeing Calif like crazy. New homes usually have buyers waiting for it to be finished. I'm really surprised that the neighbor down the road hasn't been able to sell her place that is 7 acres with horse facilities but the asking price is too high I feel. New townhomes in town are selling quick and there are no rentals available.

[skfarmer]

yea,,,,,,,,but do they know there is a crotchety old tool collector disguised as a pressure washer salesman who is way overchicked that lives in the neighborhood?



i even heard he serves cookies in church! 

I didn't know people thought I was crotchety 

And you made Mama smile too


Highland, makes alot of sense about folks wanting to move out of the city

I had to come up with something not terribly offensive. Have you ever said?  Get off my lawn!

[coolmercury]

I lease hunting rights through Base Camp, and they also sell real estate.  My Missouri rep told me recently that the real estate section is almost unable to keep any smaller rural properties in inventory.  He thinks the city people are buying "Just in case"!

[Heiny57]

I live in a suburb of Nashville and am moving out farther in the country. The COVID lockdowns started the mass exodus from downtown to the burbs, and then the riots just turned up the heat. And then throw in the people moving here from  California and New York the area is hot To say the least.

Oh yeah,  I will be putting my place up for sale in a couple of months and expect to do very well, while I locked in the price for our new house last January.  I keep my fingers crossed something doesn’t screw this up. 

[goodfellow]

I live in a suburb of Nashville and am moving out farther in the country. The COVID lockdowns started the mass exodus from downtown to the burbs, and then the riots just turned up the heat. And then throw in the people moving here from  California and New York the area is hot To say the least.

Oh yeah,  I will be putting my place up for sale in a couple of months and expect to do very well, while I locked in the price for our new house last January.  I keep my fingers crossed something doesn’t screw this up. 

Good going Bob! You did well --

[Heiny57]

I live in a suburb of Nashville and am moving out farther in the country. The COVID lockdowns started the mass exodus from downtown to the burbs, and then the riots just turned up the heat. And then throw in the people moving here from  California and New York the area is hot To say the least.

Oh yeah,  I will be putting my place up for sale in a couple of months and expect to do very well, while I locked in the price for our new house last January.  I keep my fingers crossed something doesn’t screw this up. 

Good going Bob! You did well --

It’s not done yet, so I knock on wood and hope for the best.

[muddy]

I noticed that around here as well. Houses Poppin up for sale more and more. I wonder if it has to do with occupation change. Someone moving in or out because of a job.

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[jabberwoki]

So what do you guys see in the future with this? I`m trying to plan the best course of action to get out myself.
What scenario in the future would drive people back to the cities and cheapen up the land out there again?
Financial crash?

[daves_not_here]

This trend would seemingly throw a monkey wrench into the kommie plans to abolish the 'burbs and herd all of us unwashed peons into the cities in order to better control us. No more rural living.

https://www.theburningplatform.com/2020/07/01/biden-and-dems-are-set-to-abolish-the-suburbs/

(This may have already been discussed elsewhere.  )

[walrus]

How folks are coming up with money with Covid lockdowns screwing with many jobs is beyond me. Going to be mass exodus from NYC as most tourist jobs(bars restaurants etc) are history for years to come.  Maine is seeing folks from all over buying properties as companies will now let folks work from home. This Covid crap is going to effect us for years to come.

[Lookin4_67GalaxieConv]

So what do you guys see in the future with this? I`m trying to plan the best course of action to get out myself.
What scenario in the future would drive people back to the cities and cheapen up the land out there again?
Financial crash?

I think this is cyclical and would bet on it reversing course down the line.  I remember after 9/11 real estate was very cheap in NYC and investors did well.  I think that will happen again.

[fatfillup]

So what do you guys see in the future with this? I`m trying to plan the best course of action to get out myself.
What scenario in the future would drive people back to the cities and cheapen up the land out there again?
Financial crash?

I think this is cyclical and would bet on it reversing course down the line.  I remember after 9/11 real estate was very cheap in NYC and investors did well.  I think that will happen again.

I agree it is cyclical, most trends are.  If city property gets cheap enough, folks will figure out a way to make money off it and the cities will come back.

[coolmercury]

I don't really agree entirely with the last few posts.  You must realize the those who are leaving the cities are those with the money to do so.  Thus those left are people without enough money to leave, not the ones to be of benefit to the cities.  The ones who leave are those that have jobs that allow them to work from home and or at retirement age.  There will be a lot of empty space in the cities as the work force space will not be as great as in the past and without people with money to support the higher end eating places.  Who will fill the empty places, people will less money or those supported by the cities?  Yes, real estate will bottom out and recover to some extent, but I feel that the quality of life in the cities will never be the same.

[highland512]

So what do you guys see in the future with this? I`m trying to plan the best course of action to get out myself.
What scenario in the future would drive people back to the cities and cheapen up the land out there again?
Financial crash?

As long as people can work remotely and employers let them the cities will drain for the foreseeable future until the prices bottom out. The big hold up is internet in rural areas, but in area like WY where you have talked about, the people with the means to do seem to be buying up their own "Alamo's" from what I have been reading.

[skfarmer]

sad to say but huge cities and metropolitan areas are forever being changed. internet and the ability to work from home  have definitely helped the shift. covid has sped it along. now throw in civil unrest, anarchy and general disregard for any law.

why would anyone want to live in those areas if they have the ability to get out? to make it worse i think the class resentment will grow because of it. if those that have the ability to make things happen leave, nothing will happen and things will only get worse. right or wrong, it is a viscous circle. those that have money pay those that don't have money to do things. those that are good at doing things or are more ambitious eventually move up the ladder and eventually become those with money. if all of the money at the top leaves town, well we all know how much harder that cycle becomes. sadly the rioters and looters don't get that but eventually they will.

[goodfellow]

IMHO the rioting and looting will increase if/when the President gets re-elected. The radicals will want to make the rest of us "pay" for our presidential choice, and they will seek retribution. I hope I'm wrong, but violent protests will most likely increase in urban areas and eventually move to the suburbs where the violence and intimidation will have the most impact and garner the most news coverage.

The BLM and ANTIFA idiots have already drawn a line in the sand by announcing that you either vote for Biden/Harris, or you will be inundated with increased violence and turmoil. I take them at their word.

[skfarmer]

IMHO the rioting and looting will increase if/when the President gets re-elected. The radicals will want to make the rest of us "pay" for our presidential choice, and they will seek retribution. I hope I'm wrong, but violent protests will most likely increase in urban areas and eventually move to the suburbs where the violence and intimidation will have the most impact and garner the most news coverage.

The BLM and ANTIFA idiots have already drawn a line in the sand by announcing that you either vote for Biden/Harris, or you will be inundated with increased violence and turmoil. I take them at their word.

they may make that move but i doubt it will end well. when they get to the suburbs and rural areas and push comes to shove  the first shot goes in the air. the choice then becomes where does the second one go.........

[highland512]

IMHO the rioting and looting will increase if/when the President gets re-elected. The radicals will want to make the rest of us "pay" for our presidential choice, and they will seek retribution. I hope I'm wrong, but violent protests will most likely increase in urban areas and eventually move to the suburbs where the violence and intimidation will have the most impact and garner the most news coverage.

The BLM and ANTIFA idiots have already drawn a line in the sand by announcing that you either vote for Biden/Harris, or you will be inundated with increased violence and turmoil. I take them at their word.

No doubt in my mind the riots will get worse after the election. If Trump wins (most likely in my opinion) the riots will flair up quickly and violently but will be quickly squished with national guard, federal law enforcement, and local law enforcement after being deputized by the feds. If Biden wins he will cave and appease to every whim that is asked by the mob. This has been his MO his entire career, he has always taken the quick easy way out. 

The mobs are already going into the burbs and threatening home owners, I'm surprised they haven't already started shooting to protect their property. The next move is going into the burbs hard and heavy as long as the owners bend the knee and lick the boots of the mob. The last move will be into the country, which I dont think will be a very successful move.   

[DeadNutz]

Every community that has not taken a tough stance on the rioters with pay a steep price regardless of the election results. When BLM and Antifa showed up in our valley for a protest they got quite the education. With the protesters outnumbered at least 20 to 1 by counter-protesters with many of us legally armed Antifa decided maybe it was in their best interests to get out of town. I don't think they had ever faced armed cowboys and cowgirls on horseback before. I'm sure they also noticed that the police were happily standing amongst and talking and joking with the militia and other armed citizens.

We had not one instance of vandalism or trouble. They will go where they know they have a chance of causing mayhem and damage and survive their antics.

[muddy]

So what do you guys see in the future with this? I`m trying to plan the best course of action to get out myself.
What scenario in the future would drive people back to the cities and cheapen up the land out there again?
Financial crash?

I'm looking forward to market slump so I can buy a nice farmette lol

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[slip knot]

The last time the market crashed I wanted to buy some condos in Vegas for $100K each. The wife didn't. they were later selling for $300k. If it was me... and it is, i'll be looking at some of the better bigger cities. The tourist towns will drop like a rock, but they will be back too. people want to play. I've been eyeing some property in New Orleans.

The country living thing is a fad. the city folks like to think they're joe prepper but they dont really understand all thats involved in keeping up a property. its all fun and games till the toilet dont flush or the lights dont work. I saw that here with the oil boom, land prices went thru the roof, now they've stabilized some and will probably continue to come down.

[bonneyman]

Every community that has not taken a tough stance on the rioters with pay a steep price regardless of the election results. When BLM and Antifa showed up in our valley for a protest they got quite the education. With the protesters outnumbered at least 20 to 1 by counter-protesters with many of us legally armed Antifa decided maybe it was in their best interests to get out of town. I don't think they had ever faced armed cowboys and cowgirls on horseback before. I'm sure they also noticed that the police were happily standing amongst and talking and joking with the militia and other armed citizens.

We had not one instance of vandalism or trouble. They will go where they know they have a chance of causing mayhem and damage and survive their antics.

Yeah, I think leather chaps and saddle sores would scare me away too!