Financial Samurai - Forums

Real Estate Investing => Managing And Investing In Physical Real Estate => Topic started by: Orphan on September 20, 2018, 03:42:02 PM

Title: Real Estate Market
Post by: Orphan on September 20, 2018, 03:42:02 PM
What is everyone position on the current real estate market ?

Are we in still in a sellers market ?  or is it beginning to turn ?

Any opinions would be greatly appreciated... :)
Title: Re: Real Estate Market
Post by: Sam on September 20, 2018, 07:19:49 PM
Quote from: Orphan on September 20, 2018, 03:42:02 PM
What is everyone position on the current real estate market ?

Are we in still in a sellers market ?  or is it beginning to turn ?

Any opinions would be greatly appreciated... :)

The market has clearly turned in places like Toronto, New York City, Seattle, Portland, and San Francisco somewhat. Supply has come on in force, mortgage rates are at 5+ year highs and valuation is absurd.

https://www.mercurynews.com/2018/09/16/bay-areas-runaway-housing-market-is-pumping-the-brakes-will-the-lull-last/

What market are you looking at?

Title: Re: Real Estate Market
Post by: Orphan on September 21, 2018, 03:33:59 AM
Thanks Sam,
Looking at the Midwest and the South.

I am seeing inventory staying on the market longer and drops in prices. The prices compared to the west coast are, as you know, significantly lower. My thoughts right now is to hold off on buying for awhile as my gut feeling is we are going to see some more price cuts in the interim. I have seen some great deals recently and it seems there are people that are putting their properties on the market to beat the downturn. Do you think that scenario is a bit off base or on the right course ? Thanks for responding Sam.

Orphan
Title: Re: Real Estate Market
Post by: myamnesia on September 21, 2018, 10:10:23 AM
We're still buying the in the mid west, we were buying in Kansas City and have seen a lot of appreciation in the past couple of years so the numbers don't work as well any more. We just bought a duplex in St Louis, but it took 6 months of looking until we found the right property. Deals can still be found, but they are no longer falling off trees!
Title: Re: Real Estate Market
Post by: Sam on September 21, 2018, 10:16:11 AM
 I am long-term bullish on the South and Midwest, but everything has its cycle. I've updated this post:

https://www.financialsamurai.com/focus-on-investment-trends-why-im-investing-in-the-heartland-of-america/
Title: Re: Real Estate Market
Post by: LVflyerman on September 25, 2018, 06:57:45 AM
Sam: What was your source for this paragraph in your latest blog?: The five cities that saw the largest annual increase in active listings in August 2018 were: Denver (+87.0 percent), Columbus, Ohio (+59.3 percent?!), San Jose, Calif. (+47.6 percent), Seattle, Wash. (+27.6 percent), Washington, D.C. (+24.0 percent), and Portland (+20 percent).

Thanks, Loyal Reader Jim, LVFlyerman
Title: Re: Real Estate Market
Post by: Sam on October 04, 2018, 08:02:35 AM
From CNBC today:

Mortgage fraud risk jumped more than 12 percent year over year at the end of the second quarter, according to CoreLogic, which measures six fraud indicators: identity, income, occupancy, property, transaction and undisclosed real estate debt. One in every 109 mortgage applications is estimated to have indications of fraud.

"Because home prices are rising, and demand is strong, most mortgage fraud in this type of market is motivated by bona fide borrowers trying to qualify for a mortgage," said Bridget Berg, principal of fraud solutions strategy for CoreLogic. "Undisclosed real estate liabilities, credit repair, questionable down payment sources and income falsification are the most likely misrepresentations."