Housing market updates from Atlanta

[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

[Konebhar6]

Just now, lollilolli2020 said:

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

Recent yrs show that market dynamics change quickly. Keep an eye on homes, keep shopping. See what you like in a home. Must haves etc. 

Zero in on the communities. Go there in mornings and evenings and see if you envision your family there.

make an excel sheet with your comfortable EMI including property taxes+ mortgage. See what you can afford. With prices and interest rates dropping, your affordability should increase.

You cannot buy at bottom, and if its primary home, you cannot put a value on it. 
 

2024 Q4 and 2025 Q1 should have better prices based on data available today

[Sonu_Patel]

4 minutes ago, Hitman said:

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

Non desis does not prefer those areas anna.. I heard some of the communities lo 80-90% desi population unna communities lo resale problems unnai.. remaining 10-20% non desis selling and running away with profits.

non desis are buying in other areas with the profits made with our desi madness happened in pandemic. 

[VictoryTDP]

3 minutes ago, Sonu_Patel said:

Non desis does not prefer those areas anna.. I heard some of the communities lo 80-90% desi population unna communities lo resale problems unnai.. remaining 10-20% non desis selling and running away with profits.

non desis are buying in other areas with the profits made with our desi madness happened in pandemic. 

Baaga aadaru kadha 

[lollilolli2020]

3 hours 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. 

ala kaadu anna; ippudu 2018/2019 lo konnodu; say 300K or 350K which is actual price; adi ippudu 500K ayindii anukundam list chesadu offers ravatam ledu, he might say 450K ochchina ammi ** coz he is still in profit zone. 

ade mana telugu tejams 2021 tarvata; same house 350K di 550K petti konnadu; do you think he will sell at 450K ?? or will they hold ?? 

same USA Raja type story aithadii mana telugu tejams di who bought at peak prices and peak interest rates. 
 

 

[lollilolli2020]

8 minutes ago, Konebhar6 said:

Recent yrs show that market dynamics change quickly. Keep an eye on homes, keep shopping. See what you like in a home. Must haves etc. 

Zero in on the communities. Go there in mornings and evenings and see if you envision your family there.

make an excel sheet with your comfortable EMI including property taxes+ mortgage. See what you can afford. With prices and interest rates dropping, your affordability should increase.

You cannot buy at bottom, and if its primary home, you cannot put a value on it. 
 

2024 Q4 and 2025 Q1 should have better prices based on data available today

tummithe udipoye jobs ki house koni settle avvali ante bugulu aithadi bro. 

bold ardam kaley; where to look for all those numbers ?? 

[Konebhar6]

21 minutes ago, lollilolli2020 said:

tummithe udipoye jobs ki house koni settle avvali ante bugulu aithadi bro. 

bold ardam kaley; where to look for all those numbers ?? 

Zillow, redfin for home prices, and history. Bank rate for current Mortgage rates. Use any online calculator for home affordability.

[Sonu_Patel]

41 minutes ago, Konebhar6 said:

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. 

I had conversations with several sellers who listed their homes in market.. 

If the home is well maintained and priced in correctly, it will go within 1 week in market. 

after 1 week, If no offers it will be a wait game and most probably end up doing price reductions and rent as per kitty party gang suggestion. 

BUYERS now have hell lot of options to pick and choose the best one. 

 

 

 

[Konebhar6]

1 hour ago, lollilolli2020 said:

ala kaadu anna; ippudu 2018/2019 lo konnodu; say 300K or 350K which is actual price; adi ippudu 500K ayindii anukundam list chesadu offers ravatam ledu, he might say 450K ochchina ammi ** coz he is still in profit zone. 

ade mana telugu tejams 2021 tarvata; same house 350K di 550K petti konnadu; do you think he will sell at 450K ?? or will they hold ?? 

same USA Raja type story aithadii mana telugu tejams di who bought at peak prices and peak interest rates. 
 

 

Check what happened in 2007-2008 crash. Foreclosure is the way.