890k for new single family home

[FrontMan]

Purchased a condo , ranch with HOA 200$ ..so basically it says ranch single family home..but on contract sales agreement condominium..endho..

 

 

Everything is upgrade..including wooden floor in 2024. 

 

Congrats to all guys who got 3000 sq.ft home for 2% interest in 2021 for 600k

 

This is hardly 2170 sq.t ..and going over 890k with closing costs. Worst time..and the price kept going up..this home was 740k last October ..new construction.

 

Malla July nunchi buyers pay 2% of relator fee..+ pricces going up again..

 

[Thokkalee]

If you are not happy with it, why are you even thinking of buying it? 

[FrontMan]

4 minutes ago, Thokkalee said:

If you are not happy with it, why are you even thinking of buying it? 

Options Levu bro..no new constructions.. end of the road..so pick what is left.. I made a bid for 40 year old home..60k over the asking price..still didn't win.. so went with this.. tired of home search..

 

1700 sq.ft ranch asking price  890k ..2016 construction..ala vundi market.. after elections it will be even worst.so good school area ani sign chesam 

[Thokkalee]

4 minutes ago, FrontMan said:

Options Levu bro..no new constructions.. end of the road..so pick what is left.. I made a bid for 40 year old home..60k over the asking price..still didn't win.. so went with this.. tired of home search..

1700 sq.ft ranch asking price  890k ..2016 construction..ala vundi market.. after elections it will be even worst.so good school area ani sign chesam 

Move to a different place.. 

you are buying at peak prices and peak interest rates.. unless you have lot of cash in hand, don’t buy in this artificially inflated market.. be patient.. at these rates you won’t even accumulate any equity for a few years… 

might as well rent a similar home and pay less rent than paying so much mortgage 

[gudboy]

4 minutes ago, Thokkalee said:

Move to a different place.. 

you are buying at peak prices and peak interest rates.. unless you have lot of cash in hand, don’t buy in this artificially inflated market.. be patient.. at these rates you won’t even accumulate any equity for a few years… 

might as well rent a similar home and pay less rent than paying so much mortgage 

people are still in FOMO..

they will realise the mistake very soon..rate cuts rate cuts ani inka FOMO lo untunnaru and FED does not care about IT jobs unless labor market gets mingified

[Rojaa]

13 minutes ago, FrontMan said:

Options Levu bro..no new constructions.. end of the road..so pick what is left.. I made a bid for 40 year old home..60k over the asking price..still didn't win.. so went with this.. tired of home search..

 

1700 sq.ft ranch asking price  890k ..2016 construction..ala vundi market.. after elections it will be even worst.so good school area ani sign chesam 

Location ?y not build in your own ?

[DallasBaluKarry]

Why no salary adjustments happening in IT ?

on top of that devin Ai Lanjoduku coming 

cc @Rojaa 

[Rojaa]

23 minutes ago, DallasBaluKarry said:

Why no salary adjustments happening in IT ?

on top of that devin Ai Lanjoduku coming 

cc @Rojaa 

Who is devin anna? New vendor ?

[Vaaaampire]

59 minutes ago, gudboy said:

people are still in FOMO..

they will realise the mistake very soon..rate cuts rate cuts ani inka FOMO lo untunnaru and FED does not care about IT jobs unless labor market gets mingified

Imo 2022 q4 and 2023 q1 was best time to buy homes(atleast in bayarea). Sad part is we will realize it only after the period is over.

bay area market ippudu kooda hot cake la undi. 3million homes all cash offers tho pothunnayi

[meandhrakurradu]

2 hours ago, Thokkalee said:

Move to a different place.. 

you are buying at peak prices and peak interest rates.. unless you have lot of cash in hand, don’t buy in this artificially inflated market.. be patient.. at these rates you won’t even accumulate any equity for a few years… 

might as well rent a similar home and pay less rent than paying so much mortgage 

 

2 hours ago, gudboy said:

people are still in FOMO..

they will realise the mistake very soon..rate cuts rate cuts ani inka FOMO lo untunnaru and FED does not care about IT jobs unless labor market gets mingified

Ala anukune ippudu daaka wait chesa, there is not going to be any correction. Lot of people are waiting to buy, forget 2-3%, even if interest goes down by 1% there will be massive demand. 

[Telugodura456]

8 minutes ago, meandhrakurradu said:

 

Ala anukune ippudu daaka wait chesa, there is not going to be any correction. Lot of people are waiting to buy, forget 2-3%, even if interest goes down by 1% there will be massive demand. 

why not rent bro. and save money in bank.

[Thokkalee]

1 hour ago, meandhrakurradu said:

Ala anukune ippudu daaka wait chesa, there is not going to be any correction. Lot of people are waiting to buy, forget 2-3%, even if interest goes down by 1% there will be massive demand. 

Very simple bro.. if you are paying 5-6K towards mortgage and not accumulating any capital, better to rent a similar home for 3-4K and you save 2K every month… also with a home, there are a lot of other expenses.. 

if possible move to a low cost city… aa price ki 2100 sft townhomes is too small.. 

[gudboy]

1 hour ago, meandhrakurradu said:

 

Ala anukune ippudu daaka wait chesa, there is not going to be any correction. Lot of people are waiting to buy, forget 2-3%, even if interest goes down by 1% there will be massive demand. 

you are right bro..inka enduku wait chesthunnav mari? evaru wait cheyamannaru? 

 

let me guess..

1) it is not in your affordable range

2) fear of market crash

3) just waiting to cash a market crash by buying at cheaper price.

what is your criteria?

[Rojaa]

2 hours ago, Vaaaampire said:

Imo 2022 q4 and 2023 q1 was best time to buy homes(atleast in bayarea). Sad part is we will realize it only after the period is over.

bay area market ippudu kooda hot cake la undi. 3million homes all cash offers tho pothunnayi

Same with Dallas 

[kakatiya]

Correction avali ante

1. builders need to build lot of homes in bulk, not just at regular pace..three times the pace to compensate for last three years inventory 

2. No builder will sell at below today's market price as cost of construction items price need to drop to pre covid price and demand is still high.

This is biggest setback

3. No area  is available to build new homes for development  near good school areas..  I mean even if area is available the price of that area will be immensely high to develop a new construction..so you will never find homes in the prime area at affordable costs..

4. For housing market to crash to pre covid level prices , above mentioned  3 factors need to repeat.. cheaper or affordable land near good school isd + pre covid construction equipment costs

-> cost of labour is doubled and labour should available for cheap ..which won't happen. Thanks to Republicans.they will kick lot of amigos back to other side of border 

-> this will happen only in recession when everyone lose money to pay mortgage, even during covid this didn't happen..which tells the fact that global recession won't repeat like in 2008.

In other words correction will eventually happen but only by margin of  100-80 k  cheaper compared to today's price in may be next 4 years ... But that's how homes used to depreciate earlier..

Anyways , middle class is dead in USA..you either make money or become below middle class.

 

5. Another important ..taxing the rich.. ee trump gaadu vasthe malli rich people will get tax benefits.. making things even more expensive.