SMHThis just listed a few blocks from my house: 2/1, 864sf - fully remodeled.....$554/sf ($479k). This is an example of an a-hole overpricing. I hope they eat the carrying costs for 3+ months, greedy mfer's!
2105 52nd St S, Gulfport, FL 33707 | realtor.com®
2105 52nd St S, Gulfport, FL 33707 is pending. View 40 photos of this 2 bed, 1 bath, 864 sqft. single family home with a list price of $450000.www.realtor.com
That's a common occurrence around here - little 2/1's that need a ton of renovation, less than 1100sf, and priced over $400sf (many are over $500sf, like this one). Not all of them sell, but many move after a small price cut. I was hoping to get something under $350k for a rental, but those prices go real quick if it's not a total dump.
www.ft.com
washingtontimes.com
punish those who achieve good credit and reward those who don't (usually self inflicted) makes perfect sense when you're fuching retarded.
Biden to hike payments for good-credit homebuyers to subsidize high-risk mortgages
Homebuyers with good credit scores will soon encounter a costly surprise: a new federal rule forcing them to pay higher mortgage rates and fees to subsidize people with riskier credit ratings who are also in the market to buy houses.
This is essentially what caused the last housing crisis - the housing market heated up around the end of the Clinton administration, they implemented new rules allowing 'no income verification' type loans, Bush admin took over, didn't adjust any of the Clinton policies....housing market took off, then crashed hard AF. I'm not sure if this will cause a housing boom, but I think (among other reasons) the Biden admin is using this as a part of their "equity" agenda....but also as a way to try and stimulate the housing market, which has been mostly flat for the last year. We'll see how it goes.....
www.realtor.com
I'm not really sure how accurate that narrative is.
Biden to hike payments for good-credit homebuyers to subsidize high-risk mortgages
Homebuyers with good credit scores will soon encounter a costly surprise: a new federal rule forcing them to pay higher mortgage rates and fees to subsidize people with riskier credit ratings who are also in the market to buy houses.
I would assume that you have a credit score above 780 and that you would be better off under the new table.
I think you missed the point of my rant....
I got the point of your rant which was in response to the narrative in the article. I was simply pointing out that I found some evidence that contradicts that narrative. It also happens to be evidence that should come as good news to most of the folks reading this thread... Those with the best credit will be paying less than they were previously.
So here's a house in Gulfport that just sold for $60k under asking - they overpriced it a bit, but it's a full remodel, 3/2 over 1250sf. It's in a borderline shady area (once you cross 49th street you are in City of St. Pete neighborhood called Child's Park....which is a straight ghetto. But this house sold for under $400k, which is getting harder and harder to find around here:
5068 Jersey Ave S, Gulfport, FL 33707 | realtor.com®
See photos and price history of this 3 bed, 2 bath, 1,260 Sq. Ft. recently sold home located at 5068 Jersey Ave S, Gulfport, FL 33707 that was sold on 04/20/2023 for $385000.
Incorrect... it's a marketing strategy, just like the Chameleon XLE...
An update on this place that started at 650K Now at 449K. I am not a smart man and I ain't no abacus but that is a 30% drop. after the rehab and carrying costs, can you sayHere is a very prime example of what is going on here, especially the properties bought by investors/contractors. rehabbed and now they are hoping to break even, at best. You can see this if you scroll down to Property History. But I will summarize. Bought Summer 2022 for 355K, the national Kung Flu top. Rehabbed. Listed for 650K, dropped to 615K, dropped to 595K, dropped to 560K, dropped to 520K, now 480K. A 20+% price drop from first list. Trust me, knowing this community and the condition it is currently in, had this been listed 2021, would have brought 600K.
7145 Promenade Dr Unit 101C, Boca Raton, FL 33433 | realtor.com®
See photos and price history of this 3 bed, 2 bath, 1,825 Sq. Ft. recently sold home located at 7145 Promenade Dr Unit 101C, Boca Raton, FL 33433 that was sold on 09/02/2023 for $370000.
