- Sep 4, 2014
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Mortgage rates
- Thread starter Zambo
- Start date
- Jun 12, 2014
- 9,692
- 26,035
Founding Member
Not mortgage related. But really interesting. The deep south now contributes more to the GDP than the NE corridor:
- Jun 12, 2014
- 9,692
- 26,035
Founding Member
- Jul 29, 2014
- 22,247
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- Jul 29, 2014
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Who would have ever thought that HIGHER RATES would be the reason for increasing property values until very recently? But it appears that is actually happening due to current homeowners not wanting to give up their 2.5-4.0% interest rates.....it's keeping listing off the market and putting upward pressure on prices....
- Sep 4, 2014
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- 80,063
It was always an inevitability. But I’d be lying if I said thought it’d be to this extent(and still growing). I guess it’s good they at least got that student loan debt relief…
- Jun 11, 2014
- 34,977
- 33,115
Founding Member
until there is so much upward pressure they'd be stupid not to take all that equity and run.Who would have ever thought that HIGHER RATES would be the reason for increasing property values until very recently? But it appears that is actually happening due to current homeowners not wanting to give up their 2.5-4.0% interest rates.....it's keeping listing off the market and putting upward pressure on prices....
- Jul 29, 2014
- 22,247
- 23,542
Most "working class" people(say 350-450k property value owners) are having to borrow their equity to pay off their credit cards.....we average paying off 4-8 credit accounts and probably an average of 30-70K in CC debt on each HELOC we close, 10-12 a day, 5 days a week for the last 18 months.....BTW divorce buyouts are increasing steadily over the last 6 months or so(a sure sign of compounding debt).....meanwhile rich pricks are taking out 400K-1M construction loans and 2nd's to build on lots they own or do massive remodels......that should tell everyone something about the widening wealth gap that is snowballing quickly.
- Sep 8, 2014
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Mortgage rates hit the highest point of the year
The rate on the 30-year fixed mortgage increased to 6.81% from 6.71% the week prior, according to Freddie Mac.
- Nov 19, 2014
- 9,364
- 15,073
That is based on last week. Bumping 7.2 today
Mortgage rates hit the highest point of the year
The rate on the 30-year fixed mortgage increased to 6.81% from 6.71% the week prior, according to Freddie Mac.finance.yahoo.com
- Sep 8, 2014
- 25,449
- 59,476
10 year went over 4% today also.
- Sep 8, 2014
- 25,449
- 59,476
Home prices hit a new high in May as inventory remained woefully low
US home prices hit a record high in May, according to a new report, and affordability remains a challenge for many homebuyers.
- Jun 11, 2014
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- Jun 2, 2016
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- Nov 3, 2017
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A fight erupts in U.S. housing market as deteriorated affordability clashes with the 'lock-in effect'
Housing economists say neither force should be ignored.
- Nov 19, 2014
- 9,364
- 15,073
Here is another one. Click on property history if you like but house was listed in July 2022 for just under 1.3M. That was exactly one month after what is now known as the peak of the Kung Flu house madness. It did not sell obviously. Fast forward 12 months and it is now Relisted for 875K. Quick math says roughly 33% reduction. Funny thing is if they had the house in this condition in 2021 or early 22 and listed it, I guarantee some jacka$$ would have given 7 figs at that time. But someone who likes that "modern" look will probably give in the 8's. FWIW other homes similar in layout and size in same neighborhood are now listed in the 6's.
www.realtor.com
6526 Via Benita, Boca Raton, FL 33433 | realtor.com®
6526 Via Benita, Boca Raton, FL 33433 is pending. View 36 photos of this 3 bed, 2 bath, 2211 sqft. single family home with a list price of $875000.
www.realtor.com
- Sep 6, 2019
- 9,002
- 28,440
The flooring in that place will cause positional vertigo.Here is another one. Click on property history if you like but house was listed in July 2022 for just under 1.3M. That was exactly one month after what is now known as the peak of the Kung Flu house madness. It did not sell obviously. Fast forward 12 months and it is now Relisted for 875K. Quick math says roughly 33% reduction. Funny thing is if they had the house in this condition in 2021 or early 22 and listed it, I guarantee some jacka$$ would have given 7 figs at that time. But someone who likes that "modern" look will probably give in the 8's. FWIW other homes similar in layout and size in same neighborhood are now listed in the 6's.
6526 Via Benita, Boca Raton, FL 33433 | realtor.com®
6526 Via Benita, Boca Raton, FL 33433 is pending. View 36 photos of this 3 bed, 2 bath, 2211 sqft. single family home with a list price of $875000.
- Nov 19, 2014
- 9,364
- 15,073
Update on this property. Just went under contract with a list price of $409K. So will close for somewhere around 40% below original ask. Take out the rehab construction costs, carrying costs this will be a decent sized loser.Here 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.
