Anonymous
12/15/2022 06:59
Subject: When will builders start lowering prices?
Anonymous wrote:Anonymous wrote:I'm gonna wait also. Everything is pointing to price declines -- high interest rates, law firm layoffs, tech layoffs, stock market freefall, etc. The boom times are over. The folks who are gonna insist that everything is honky dory and prices are gonna continue to rise are pulling the wool over your eyes.
And you sideliners who refuse to acknowledge that people in 2.75% mortgages aren’t going to sell unless they absolutely have to ALSO have the wool over your eyes. Just because the theory says prices have to go down doesn’t mean I’m gonna sign up for a much more expensive mortgage any time soon and sell my house for a bottom price. Staying right here, as obviously are most other home owners. Come spring, if buyers get tired of waiting and start joining in again, I may consider putting it on the market…we’ll see. But I’m not forced to do anything. Other markets maybe with high layoffs, but not the DMV.
DP here but it's lunacy to suggest that no one will sell. Moving out of the area, moving up to a new home, death, divorce, changing school districts, etc. will still happen. Plus everyone who bought prior to 2020 will likely yield a profit if they sell over the next year. You can't afford to move, but not everyone is stuck.
Anonymous
12/15/2022 06:39
Subject: When will builders start lowering prices?
Anonymous wrote:I'm gonna wait also. Everything is pointing to price declines -- high interest rates, law firm layoffs, tech layoffs, stock market freefall, etc. The boom times are over. The folks who are gonna insist that everything is honky dory and prices are gonna continue to rise are pulling the wool over your eyes.
And you sideliners who refuse to acknowledge that people in 2.75% mortgages aren’t going to sell unless they absolutely have to ALSO have the wool over your eyes. Just because the theory says prices have to go down doesn’t mean I’m gonna sign up for a much more expensive mortgage any time soon and sell my house for a bottom price. Staying right here, as obviously are most other home owners. Come spring, if buyers get tired of waiting and start joining in again, I may consider putting it on the market…we’ll see. But I’m not forced to do anything. Other markets maybe with high layoffs, but not the DMV.
Anonymous
12/15/2022 00:40
Subject: When will builders start lowering prices?
I'm gonna wait also. Everything is pointing to price declines -- high interest rates, law firm layoffs, tech layoffs, stock market freefall, etc. The boom times are over. The folks who are gonna insist that everything is honky dory and prices are gonna continue to rise are pulling the wool over your eyes.
Anonymous
12/14/2022 19:42
Subject: Re:When will builders start lowering prices?
Anonymous wrote:Anonymous wrote:Anonymous wrote:I’m seeing reductions, esp at the higher end and esp those 2022 builds. Once 2023 hits, they are gonna take a big hit. Still not the time to buy by any stretch. Whoever is saying oh buy now and refi later is crazy. The fed is gonna moderate increasing rates BUT gonna keep the rate up for years to come which means prices have to keep coming down.
Im gonna, gonna buy anyways.....
and, and you will one of those underwater eventually
+1 We moved to a new area. I'm itching to buy right now, but I'm forcing myself to wait. It seems pretty clear that home values will continue to fall, especially here where they rose so much during the pandemic. I want a house now though so it's hard to wait.
Anonymous
12/14/2022 19:10
Subject: Re:When will builders start lowering prices?
Anonymous wrote:Anonymous wrote:I’m seeing reductions, esp at the higher end and esp those 2022 builds. Once 2023 hits, they are gonna take a big hit. Still not the time to buy by any stretch. Whoever is saying oh buy now and refi later is crazy. The fed is gonna moderate increasing rates BUT gonna keep the rate up for years to come which means prices have to keep coming down.
Im gonna, gonna buy anyways.....
and, and you will one of those underwater eventually
Anonymous
12/14/2022 18:02
Subject: Re:When will builders start lowering prices?
Anonymous wrote:Anonymous wrote:I’m seeing reductions, esp at the higher end and esp those 2022 builds. Once 2023 hits, they are gonna take a big hit. Still not the time to buy by any stretch. Whoever is saying oh buy now and refi later is crazy. The fed is gonna moderate increasing rates BUT gonna keep the rate up for years to come which means prices have to keep coming down.
Im gonna, gonna buy anyways.....
Please note: if you buy the property with a mortgage they will make you pledge that your are "gonna" repay the money. Hope that's not gonna dampen your enthusiasm. If it does, I'm not gonna care