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Any Real Estate Experts Here?

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Doggiedog

Lifer
I'm wondering if the real estate market will be the next one to collapse.

I'm in the process of selling my apartment (for over 100% appreciation in the last 2 years) and thinking of renting for a while because I'm afraid of buying at the high.

What are your thoughts especially if you live in a metropolitan area? It seems there are tons of housing available here in the tri state area in NYC and rental pricing seem to be coming down.
 
Well, from what i've seen around washington DC, if anything stays strong it's gonna be the real estate market.

After last September housing took a small hit, but where i live houses sell in a matter of HOURS for huge gains, and it's been getting stronger

Unlike companies and what not, you're money is at least relatively safe in a house.

Plus, interest rates are so low that it's a good time to re-finance

Just my opinion though...
 
Hard to say what the RE market is going to do. I have seen a couple of headlines lately about how their growth is starting to slow.
 
Like any market, it's impossible to predict.

However, in my book, I don't see how prices can increase forever... sooner or later the R.E. market will price itself beyond the buying power of wannabe homeowners. That'll bring prices back down.

Like any other market, it's supply and demand. If you live in an area that people are moving to, prices may well keep climbing. If you live in the Chernobyl of your area, don't count on any more appreciation.
 
I live in the NYC area and I noticed tons of development in my neighborhood. There are at least 10 rental apartment buildings in various stages of development. One luxury building has been open for the last year and its only 30% occupied. Another building has continuously lowered rents over the last year from about $2000 to $1500/mo, one free month of rent and a year ferry pass for a 1 bdrm. They also just broke ground on a new building next to mine this past month.

I don't know if it's just my area (Edgewater, NJ) but it just seems like there is a real estate slump waiting to happen.
 
Originally posted by: sohcrates
Well, from what i've seen around washington DC, if anything stays strong it's gonna be the real estate market.

After last September housing took a small hit, but where i live houses sell in a matter of HOURS for huge gains, and it's been getting stronger

Unlike companies and what not, you're money is at least relatively safe in a house.

Plus, interest rates are so low that it's a good time to re-finance

Just my opinion though...
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Yep the market around here is amazing at the moment. When we sold our townhouse in 1996 we lost 8K. Our current house has appreciated around 100k from when we purchased it in 1996 which is a real nice feeling. I just initiated a VA streamline refinance last week and should be shaving a couple hundred bucks off my mortgage payment come October. 🙂

 
I have to agree with Sohcrates that the housing market isn't really going anywhere. It has slowed down somewhat here in Atlanta, but isn't showing any signs whatsoever of actually petering out. There is still a big push to develop or revitalize intown areas here because of the traffic, so folks are either paying a premium to live in "nice" areas or putting up with crack houses and drivebys for a few years in an "up-and-coming" area. I'm guessing both of these trends will be the first things to go if the housing market starts to go south.

Fausto
 
Another negative sign, though it is only one data point, was that my broker said at his firm there were more listings than sales in June. He said that was the first time he has ever seen that happen as a broker.
 
Originally posted by: Doggiedog
Another negative sign, though it is only one data point, was that my broker said at his firm there were more listings than sales in June. He said that was the first time he has ever seen that happen as a broker.
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Isn't it normal to have more houses for sale than you sell?

Reading that made me think "OK, so normally there are more house sales than listings?"

How does that happen?

How can you sell more houses than the number of houses for sale?

Maybe I am just not thinking it through before I post this.
 
Originally posted by: TomC25
Originally posted by: Doggiedog
Another negative sign, though it is only one data point, was that my broker said at his firm there were more listings than sales in June. He said that was the first time he has ever seen that happen as a broker.
Click to expand...


Isn't it normal to have more houses for sale than you sell?

Reading that made me think "OK, so normally there are more house sales than listings?"

How does that happen?

How can you sell more houses than the number of houses for sale?

Maybe I am just not thinking it through before I post this.
Click to expand...


I think he is comparing new listings for the month compared to sales for the month.


Anyway, all I can say is that the Houston market hasn't slowed that much if at all. We continue to build like crazy and house values continue to go up. Sales, of course, are bouyed by the lowest interest rates in 30 years.
 
If the economic downturn continues, the RE market will turn down too, it sounds like a good time to sit on the sidelines as you're planning, really depends on how much your rent is & what price of property you're looking @ buying.

I heard 1/2 dozen market analysts begging people not to sell their stocks over the weekend on the radio & TV & to take the long view.

I would hate to be retired now or near retirement & be heavily invested in stocks...
 
I've heard the real estate market typically trails the stock market by about 18 months in terms of peaking and troughing. But it's been over 2 years since the market peaked so I am kind of wary about buying.

I'm just trying to gather additional data points to see what others are seeing or experiencing.
 
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