Housing market updates from Atlanta

[Sonu_Patel]

1 hour ago, cinemapiccha said:

evadanna kontademo ani last few months nunchi okate vestunnadu propaganda threads.

propaganda em ledu ba.. 

Its now officially BUYERS market anna.. buyer now have much many and more options to pick and choose from the market. 

Konaddu ani nenu epudu chepaledu.. My point is always towards the affordability realization and financial discipline. 

[MaddyUsa]

21 minutes ago, Sonu_Patel said:

propaganda em ledu ba.. 

Its now officially BUYERS market anna.. buyer now have much many and more options to pick and choose from the market. 

Konaddu ani nenu epudu chepaledu.. My point is always towards the affordability realization and financial discipline. 

Dont worry bhayya either he is the person who purchased investment homes in this highly inflated market or a realtor... Papam edho dabbuluu pothunayi ana badhaloo edho prayatnistunadu.... Lite tesukoo

[ChillDude]

1 hour ago, cinemapiccha said:

A Crash is impossible.

If the cost of building a new home itself is varied now. There is now way for the prices to go below that. You need to analyse a lot of factors to understand that.

What you are saying is from debates and from public sentiment. The  financial factors are not there to back it up.

There will definitely be a correction of around 20% to 10% in the housing prices for houses above 750K and 10% to 5% for houses below 750K, and nothing more than that, and that too if at all there is a recession.

Crash ante 2008 lo kooda 20% - 30% ee padindi anna.

2008 lo laaga regional banks r getting into trouble due to CRE. Next 2 yrs lo this contagion will spread to other sectors and bigger banks eventually.

BOFA $131B unrealized losses lo undi. Credit card ($1T) and auto loan deliquencies equation loki testey situation inka worst.

Financial city NYC Penn Station deggare CRE ila untey, migilina country lo assame.

2023 Mar lo regional banks crash avutunte FED interfered and pushed the recession to few more yrs down the line.

btw Im already a homeowner and have cash for another home and Im not buying it now

https://www.westsidespirit.com/news/office-building-forecloses-at-penn-station-for-25-percent-of-its-development-price-MX2743952

 https://nypost.com/2024/08/02/real-estate/huge-midtown-office-building-sells-for-a-97-discount/

[Konebhar6]

• When recession hits, with decreased interest rates more homes will come into market. People who want to downsize, upsize will list homes. They are on sidelines due to higher interest rates so far.
• With bad job market, layoffs, and if stock market corrects (People's money/liquidity will be stuck), Housing market has to correct.
• May be not a crash but may be a 30% correction. when prices start falling, people who have investment homes, will list as well. 
• Right now inventory is at its highest. Not many homes selling even in summer. Check stats from realtors. Homes that got sold, number of 1 offer is more than multiple offers.
• Q42024 - Q1 2025 might see better prices. Keep checking home prices in the place you want to buy and keep track. 

[Sonu_Patel]

9 hours ago, Konebhar6 said:

• When recession hits, with decreased interest rates more homes will come into market. People who want to downsize, upsize will list homes. They are on sidelines due to higher interest rates so far.
• With bad job market, layoffs, and if stock market corrects (People's money/liquidity will be stuck), Housing market has to correct.
• May be not a crash but may be a 30% correction. when prices start falling, people who have investment homes, will list as well. 
• Right now inventory is at its highest. Not many homes selling even in summer. Check stats from realtors. Homes that got sold, number of 1 offer is more than multiple offers.
• Q42024 - Q1 2025 might see better prices. Keep checking home prices in the place you want to buy and keep track. 

GA,NC, TN, FL, SC,TX will have the major impacts with Inventory supply vs demand. 

There is tons of inventory and weaker demand will lead to price reductions. 

[cinemapiccha]

11 hours ago, Sonu_Patel said:

manchi deal dorikithey tesesko anna.. all i am saying is do not over pay and biddings cheyabakandi.. 

ikkada group lo chala mandi @cinemapiccha lanti home owners unnaru.. they are afraid if the property values undergo any correction.

Dude, I am no afraid.

I bought in very low price times and anyway it is my primary home, so it goes down or up does not matter for another 20years.

I don't care about it, but I did my due diligence for my friends/relatives for their home buying and am aware your dreams which you are speculating here are not a reality.

[cinemapiccha]

10 hours ago, ChillDude said:

Crash ante 2008 lo kooda 20% - 30% ee padindi anna.

2008 lo laaga regional banks r getting into trouble due to CRE. Next 2 yrs lo this contagion will spread to other sectors and bigger banks eventually.

BOFA $131B unrealized losses lo undi. Credit card ($1T) and auto loan deliquencies equation loki testey situation inka worst.

Financial city NYC Penn Station deggare CRE ila untey, migilina country lo assame.

2023 Mar lo regional banks crash avutunte FED interfered and pushed the recession to few more yrs down the line.

btw Im already a homeowner and have cash for another home and Im not buying it now

https://www.westsidespirit.com/news/office-building-forecloses-at-penn-station-for-25-percent-of-its-development-price-MX2743952

 https://nypost.com/2024/08/02/real-estate/huge-midtown-office-building-sells-for-a-97-discount/

Itha matladu thunnav.

Asalu, did you see the analysis of no of homes vs no of homes needed for families. And no of families waiting even for a small correction.

Once the interest rate goes down. The affordability will increase by a lot and that will drive the demand so much that there will be bidding wars again.

Just wait and see.

[cinemapiccha]

Just now, cinemapiccha said:

Itha matladu thunnav.

Asalu, did you see the analysis of no of homes vs no of homes needed for families. And no of families waiting even for a small correction.

Once the interest rate goes down. The affordability will increase by a lot and that will drive the demand so much that there will be bidding wars again.

Just wait and see.

Do you think rents are going to come down.

Do you think, a new home building costs are going to come down.

Do you think, people will die and the need for the no of homes are going to come down.

All those are impossible. So start looking from the other side as well to see the reality

[cinemapiccha]

10 minutes ago, Sonu_Patel said:

GA,NC, TN, FL, SC,TX will have the major impacts with Inventory supply vs demand. 

There is tons of inventory and weaker demand will lead to price reductions. 

Weaker demand is where you need to do more analysis.

[ChillDude]

2 hours ago, cinemapiccha said:

Itha matladu thunnav.

Asalu, did you see the analysis of no of homes vs no of homes needed for families. And no of families waiting even for a small correction.

Once the interest rate goes down. The affordability will increase by a lot and that will drive the demand so much that there will be bidding wars again.

Just wait and see.

If the unemployment numbers dont go up and interest rates go down, what you mentioned will happen.. Otherwise ppl who lose their jobs will open up more inventory..

Already Commercial Real Estate ki enta bokka padutundo I have posted the links above. 25% of its value ki sale avutundi and ppl who have cash are scared to buy it.

[Sonu_Patel]

2 hours ago, cinemapiccha said:

Weaker demand is where you need to do more analysis.

I am following very closely anna.. 

one of the person i know listed his home on market in atlanta suburbs for 700k .. 

30 days and no single offer anna. 

[Hitman]

13 minutes ago, Sonu_Patel said:

I am following very closely anna.. 

one of the person i know listed his home on market in atlanta suburbs for 700k .. 

30 days and no single offer anna. 

asalu ee suburbs (>50miles away) from airport... Any non desis would buy? 

[lollilolli2020]

13 hours ago, Konebhar6 said:

• When recession hits, with decreased interest rates more homes will come into market. People who want to downsize, upsize will list homes. They are on sidelines due to higher interest rates so far.
• With bad job market, layoffs, and if stock market corrects (People's money/liquidity will be stuck), Housing market has to correct.
• May be not a crash but may be a 30% correction. when prices start falling, people who have investment homes, will list as well. 
• Right now inventory is at its highest. Not many homes selling even in summer. Check stats from realtors. Homes that got sold, number of 1 offer is more than multiple offers.
• Q42024 - Q1 2025 might see better prices. Keep checking home prices in the place you want to buy and keep track. 

ante anna next year varaku mellaga wait cheyochu antava illu konadaniki ??

[Konebhar6]

A home in mountain house listed for 1.3M. Reduced to 1.1. My friend gave offer for 1.06. They did some drama and wanted my friend to go with their friend who is a realtor. My friend backed off. Now they are ready to agree to all terms plus reduced price even further to 1.04. 
Friend backed off completely. It was previously a model home and has plenty of upgrades.

However reality could change quickly with interest rates reduced. But stock market and job market is key. And winter coming with too many homes on market. 
Let’s see what’s going to happen. 

[lollilolli2020]

3 minutes ago, Hitman said:

asalu ee suburbs (>50miles away) from airport... Any non desis would buy? 

Desi District pakkana kontunnaru anta. 

okappudu costco, wholefoods daggara houses ki demand vuntunde ippudu desi district ani @Sonu_Patel telling