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


Sonu_Patel

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Another one from expats group

 

Selling at a loss vs renting at a loss

We need to sell our house that we bought less than two years ago. We are looking at a loss of about $22,000 with where the market is at right now in Austin tx.
How devastating is this? We were first time home buyers and admittedly didn't know quite what we were doing. Have any of you taken a loss like that?
We could rent it out, however the rent wouldn't cover our mortgage. We would be at a loss of about $300 a month or $3600 over the year.
If we rented it out and then sold next year, we would probably be at less of a loss. However it could probably take awhile to sell and I'm not sure I would want to gamble having two mortgages at once. That makes me nervous.
Any thoughts or advice?

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32 minutes ago, Moon_Walker said:

Another one from expats group

 

Selling at a loss vs renting at a loss

We need to sell our house that we bought less than two years ago. We are looking at a loss of about $22,000 with where the market is at right now in Austin tx.
How devastating is this? We were first time home buyers and admittedly didn't know quite what we were doing. Have any of you taken a loss like that?
We could rent it out, however the rent wouldn't cover our mortgage. We would be at a loss of about $300 a month or $3600 over the year.
If we rented it out and then sold next year, we would probably be at less of a loss. However it could probably take awhile to sell and I'm not sure I would want to gamble having two mortgages at once. That makes me nervous.
Any thoughts or advice?

 

22k loss ki cut drawer poyinattu peeling endho..

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39 minutes ago, Moon_Walker said:

Another one from expats group

 

Selling at a loss vs renting at a loss

We need to sell our house that we bought less than two years ago. We are looking at a loss of about $22,000 with where the market is at right now in Austin tx.
How devastating is this? We were first time home buyers and admittedly didn't know quite what we were doing. Have any of you taken a loss like that?
We could rent it out, however the rent wouldn't cover our mortgage. We would be at a loss of about $300 a month or $3600 over the year.
If we rented it out and then sold next year, we would probably be at less of a loss. However it could probably take awhile to sell and I'm not sure I would want to gamble having two mortgages at once. That makes me nervous.
Any thoughts or advice?

No wonder.. people who done 5% or less towards down payment will walk out and leads to fore closure. 

It will be a big news this year if employments rates go down. 

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49 minutes ago, Moon_Walker said:

Another one from expats group

 

Selling at a loss vs renting at a loss

We need to sell our house that we bought less than two years ago. We are looking at a loss of about $22,000 with where the market is at right now in Austin tx.
How devastating is this? We were first time home buyers and admittedly didn't know quite what we were doing. Have any of you taken a loss like that?
We could rent it out, however the rent wouldn't cover our mortgage. We would be at a loss of about $300 a month or $3600 over the year.
If we rented it out and then sold next year, we would probably be at less of a loss. However it could probably take awhile to sell and I'm not sure I would want to gamble having two mortgages at once. That makes me nervous.
Any thoughts or advice?

 

16 minutes ago, jpismahatma said:

 

22k loss ki cut drawer poyinattu peeling endho..

its not loss yet unless you sold. 

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10 minutes ago, Sonu_Patel said:

No wonder.. people who done 5% or less towards down payment will walk out and leads to fore closure. 

It will be a big news this year if employments rates go down. 

patel saab foreclosure lo deals dorike chances vunnaya ??

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23 hours ago, lollilolli2020 said:

patel saab foreclosure lo deals dorike chances vunnaya ??

foreclosure varaku raledu inka.. 

800K above segment ki baga hit aeyindi.. new link Original post lo vesa chudu.. 1.09M home sold for 915K. 

which is 180K less than the asking price anna..

price reductions crazy ga jarugutunnae... housing is in good correction mode now. 

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4 hours ago, Sonu_Patel said:

foreclosure varaku raledu inka.. 

800K above segment ki baga hit aeyindi.. new link Original post lo vesa chudu.. 1.09M home sold for 915K. 

which is 180K less than the asking price anna..

price reductions crazy ga jarugutunnae... housing is in good correction mode now. 

details please ... address kottu

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37 minutes ago, babu_bangaram said:

details please ... address kottu

https://www.zillow.com/homedetails/11420-Easthaven-Pl-Johns-Creek-GA-30097/171602332_zpid/ - Listed for 1.09M in April 2024, after so many price reductions, sold for $915K in December 2024

mana desi santha johns creek baga untaru.. rich people untaru mostly. 

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53 minutes ago, Sonu_Patel said:

https://www.zillow.com/homedetails/11420-Easthaven-Pl-Johns-Creek-GA-30097/171602332_zpid/ - Listed for 1.09M in April 2024, after so many price reductions, sold for $915K in December 2024

mana desi santha johns creek baga untaru.. rich people untaru mostly. 

Looks like it was bought in 2016 and then started renting it out in 2019.

Took them 5.5 months to rent it out after multiple cuts.

The renters probably stayed for 4 years and these guys sold at the end of their lease. 

 

Fyi, from my friends who have multiple investment homes, they are having trouble with their tenants either with late payments or not paying at all. 

 

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