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#126490 - 01/17/08 06:45 PM
Re: Real Estate Questions???
[Re: chatty lady]
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Anonymous
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Ladies, how's the real estate market in your locality now?
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#126491 - 01/18/08 03:04 AM
Re: Real Estate Questions???
[Re: ]
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Member
Registered: 11/11/04
Posts: 3503
Loc: Colorado
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Hi Mustang, I like the new picture. As you know my day job is real estate agent in Colorado. Starving real estate agent. The market is not good. It should be because interest rates are at a two year low, and there are plenty of homes on the market. The media hints at recession are frightening to buyers. Foreclosures are causing short sales; the bank will take whatever it can to get a house out of its foreclosure inventory. In Arizona, I hear there are a lot of "walk aways" which means that owners who cannot afford the rising interest rates on the ARM (adjustable rate mortgages)... the owners just leave their homes in the middle of the night. These are middle-class subdivision homes being left vacant. Retirement communities have houses on the market for over a year. Another thing that happened is that when people bought their houses two-five years ago, they figured that within this time frame they would have received promotions, pay increases, etc. Instead, there are lay offs. Yikes! Doom and gloom! I glanced at your original post. I don't know the southeast market (although I do know a good agency in the Carolinas). What are you thinking of doing? Selling, moving on, staying put? Ask a question, I give you an essay! PL
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#126493 - 01/19/08 05:47 AM
Re: Real Estate Questions???
[Re: meredithbead]
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Member
Registered: 01/16/07
Posts: 3404
Loc: USA
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Construction is going as crazy as ever. There was just a real estate special on TV lately, about the market in the Houston area. It told how people were selling out on the coasts and moving to Houston. The market for the big $$$ houses (custom mansions) is the strongest. Lower end housing, @ $150k and below, is moving slowly. Mansions are being bought up, and the buyers are paying cash... per the reporting.
I wish everyone would go back home. We bought here, going on 15 years ago, because it was rural. Now you can hear the trains and highway noise, and we're a good 2.5 to 3 miles away (drive wise). I hate it. They are whacking down trees, taking away the very reason for living in a country setting... and laying more concrete - lots and lots more. There are shopping strips popping up everywhere ... I say Go Away!!!!! Leave the trees alone!!!!! Go trade dollars elsewhere!!!! You can leave the college and hospitals, though.
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#126496 - 01/19/08 08:35 PM
Re: Real Estate Questions???
[Re: Princess Lenora]
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Member
Registered: 01/16/07
Posts: 3404
Loc: USA
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Too popular, in my opinion... lol, even tho it's not the most popular Texas spot (either, Austin or Dallas-Ft. Worth would probably grab that title). I think it's just a good area in which to invest... that's the real draw, I'm thinking... that, and the fact that we have a developing and diversified economy - we're not all about oil, any more. We have major medical complexes, the port, tech sectors, manufacturing companies (all around the city), major financial institutions, great colleges and universities (Rice, Baylor, St. Thomas, etc.), big name companies - HP, which bought out Compaq, for one,... the list goes on. We don't have the bubbling house prices, either. You can get a 5k sqft home for what you'd pay for a 900-1200 sqft home in southern Cali - customized, to boot.
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