Market update: housing price reductions - eh1bs panic and not buying homes anymore

[jpismahatma]

I brought 460k twin home with 20% down in 2019. It is after 14 years I was in USA.

nice school dist. Max I pay now is $2150 HOA is $199. I have around 300k left. I can pay it all  anytime.

I have zero tensions even if I had to leave for any reason.  

In 1 week. I lost 100k In $TSLA and recovered $40k. I don't give sheat.

Make life simple. We don't live here for ever. Don't over commit if you don't have proper backing. 

 

Good luck with 1.5 mil.. houses. After taxes you should pay 9k. without any expenses. Even if your house hold income is 300k. It is sheat life.

 

https://tinypic.host/image/Screen-Shot-2025-01-04-at-11.22.39-AM.20Msje

 

 

 

[akkum_bakkum]

11 hours ago, Konebhar6 said:

He is stupid for a couple of reasons

1. There are no choices. Option 1 is the only option. He should feel stupid for even considering other options

2. He is in a good position making money on the house. There is no need to panic or feel stressed out. 

Exactly…is that even a question to ask? Intha dhed gallunnarendanna. Seller costs ~8% eskunna he is on breakeven. On top of that realtor costs r covered ani chepthunnadu. 2 years principal residence lo vunte capital gains tax kuda katte panla…kaneesam adanna telsa eellaki

[Pandubabu]

On 1/2/2025 at 12:26 PM, Sonu_Patel said:

Atlanta suburbs lo eh1bs paused looking for homes anna..

Price reductions chala jaruguthunnae.. December stats ikkada post chestunna.

https://www.zillow.com/homedetails/6310-Holland-Ct-Cumming-GA-30041/68629928_zpid/ - Listed for 850K in May 2024 and sold for 700K in December 2024

https://www.zillow.com/homedetails/4415-Kendall-Pointe-Dr-Cumming-GA-30028/440799197_zpid/ - Listed for 885K in September 2024 and sold for 830K in December 2024

https://www.zillow.com/homedetails/4495-Brookhaven-Ct-Cumming-GA-30040/68636889_zpid/ - Listed for 750K in July 2024 and sold for 700K in December 2024

No more biddings and FOMOs .. 

going forward with thata new rules.. there will be more inventory and supply.. 

If eh1bs stop buying houses - there will be a steep correction in suburbs crowded by our gorrela manda. 

 

come to NC , still bidding for East facing homes

[Konebhar6]

6 hours ago, Sonu_Patel said:

This is a situation of person who bought home in 2022 anna..

next year 2023 and 2024 lo konnollu .. posts vestaru chudu vallaki option 1 kuda undadhu..

negative equity + real estate agent commission + moving costs + double expenses if they keep the home empty after relocation..

manollu ehh1b medha foreclose kuda cheyaledu.. because GC process ki problem avtundi kabatti

do not get into expensive segment of real estate now. 

Most places new homes are costing less than existing homes. Ppl don’t want to sell as they got homes for cheap and low interest rates. However new home builders, it’s their bread and butter. They have to sell. Hence price reductions. 
Check realtors now. You will be shocked with offers. 

[superhit3]

6 hours ago, Sonu_Patel said:

This is a situation of person who bought home in 2022 anna..

next year 2023 and 2024 lo konnollu .. posts vestaru chudu vallaki option 1 kuda undadhu..

negative equity + real estate agent commission + moving costs + double expenses if they keep the home empty after relocation..

manollu ehh1b medha foreclose kuda cheyaledu.. because GC process ki problem avtundi kabatti

do not get into expensive segment of real estate now. 

2024 anagane naku scary ga vundi

[krishnaaa]

2 hours ago, Konebhar6 said:

Most places new homes are costing less than existing homes. Ppl don’t want to sell as they got homes for cheap and low interest rates. However new home builders, it’s their bread and butter. They have to sell. Hence price reductions. 
Check realtors now. You will be shocked with offers. 

And as interest rates keep going down, construction loans become cheaper and more inventory should hit market as home builder had bought lot of land in last 5 years.

[dreamchaser]

4 hours ago, Konebhar6 said:

Most places new homes are costing less than existing homes. Ppl don’t want to sell as they got homes for cheap and low interest rates. However new home builders, it’s their bread and butter. They have to sell. Hence price reductions. 
Check realtors now. You will be shocked with offers. 

Phoenix lo new homes ki builders are dropping prices 25k$ every 2 months.Over that they are giving 15k towards closing cost and reduced interest rate of 4% for first 3 years.huge new home inventory

[ManchamKodi]

On 1/4/2025 at 9:39 AM, Sonu_Patel said:

east tirigi okkokadini ongo ani chepu anna.. 

Melisa okapudu dumpster city adi.. 1.5 million predictions chestunnara ... adi avadamma.. LOL

 

chepina vinnnaru anna Dallaspuram lo youth or uncles or aunties

[Hitman]

On 1/4/2025 at 11:20 AM, jpismahatma said:

I brought 460k twin home with 20% down in 2019. It is after 14 years I was in USA.

nice school dist. Max I pay now is $2150 HOA is $199. I have around 300k left. I can pay it all  anytime.

I have zero tensions even if I had to leave for any reason.  

In 1 week. I lost 100k In $TSLA and recovered $40k. I don't give sheat.

Make life simple. We don't live here for ever. Don't over commit if you don't have proper backing. 

 

Good luck with 1.5 mil.. houses. After taxes you should pay 9k. without any expenses. Even if your house hold income is 300k. It is sheat life.

 

https://tinypic.host/image/Screen-Shot-2025-01-04-at-11.22.39-AM.20Msje

 

 

 

 losing 100K on 1 stock ante ... 🙏...

you wont give a Sheat losing 100K.. may be you bought Pre pandemic. You already have made fortune on it.

[jpismahatma]

5 hours ago, Hitman said:

 losing 100K on 1 stock ante ... 🙏...

you wont give a Sheat losing 100K.. may be you bought Pre pandemic. You already have made fortune on it.

Money come and go bro. 100k lost or gained doesn’t make much difference to my life. At same time I dont over commit. Buying million dollar home without proper basing is kill. 

[dreamchaser]

1 hour ago, jpismahatma said:

Money come and go bro. 100k lost or gained doesn’t make much difference to my life. At same time I dont over commit. Buying million dollar home without proper basing is kill. 

Can you please provide feedback here bro?I have saved about 250k which I want to use as a down payment for a 550k new home in Phoenix,AZ.My monthly payment would be 2100$ including everything.i have GC.currently I am paying 1900$ rent per month

[Konebhar6]

34 minutes ago, dreamchaser said:

Can you please provide feedback here bro?I have saved about 250k which I want to use as a down payment for a 550k new home in Phoenix,AZ.My monthly payment would be 2100$ including everything.i have GC.currently I am paying 1900$ rent per month

Go visit the New Home builder offices to check out offers. Many are offering good financial plans like 1.99% for year 1, 2.99 for year 2, 3.99 for year 3, 4.99 from year 4 to 30.

Also there is plenty of price reductions. New homes are costing cheaper than existing homes. If you can wait till Feb, you will get much better offers. But keep checking and jump in when you feel comfortable with offer.

[dreamchaser]

26 minutes ago, Konebhar6 said:

Go visit the New Home builder offices to check out offers. Many are offering good financial plans like 1.99% for year 1, 2.99 for year 2, 3.99 for year 3, 4.99 from year 4 to 30.

Also there is plenty of price reductions. New homes are costing cheaper than existing homes. If you can wait till Feb, you will get much better offers. But keep checking and jump in when you feel comfortable with offer.

Yes bro.planning to wait atleast  6 months.phoenix has highest new home inventory since last 5 years and lowest sales in decades.watching market carefully not to over pay and not in a hurry

[ARYA]

On 1/4/2025 at 1:51 PM, Konebhar6 said:

Most places new homes are costing less than existing homes. Ppl don’t want to sell as they got homes for cheap and low interest rates. However new home builders, it’s their bread and butter. They have to sell. Hence price reductions. 
Check realtors now. You will be shocked with offers. 

idi ite nijam, also builders are giving good incentives with better rate if we go with their lender

[jpismahatma]

2 hours ago, dreamchaser said:

Can you please provide feedback here bro?I have saved about 250k which I want to use as a down payment for a 550k new home in Phoenix,AZ.My monthly payment would be 2100$ including everything.i have GC.currently I am paying 1900$ rent per month

Konuko bro. What is your salary?. Atleast 150k base undail. 

Even with 20%. Still you have good amount of savings for any future unseen needs.

on TOP GC is added advantage.