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

[Gundepotuu_Gummadi]

3 hours ago, paaparao said:

sonu proofs tho koduthunnadu eesari. meeru enni anukonna parledu. home prices ayithe 20% correction minimum ayyayi in lot of so called evergreen metros like atlanta, Va, MD, bay area, dallas etc. still will comedown another 10 to 15% in my opinion.

 

92 lo built house asking price $850k ante daanantha pichi offer inkoti undadu. not worth at all. evado konnado gaani pure pappulo kaalesadu.

@Sonu_Patel anna balam ade kada proofs tho vasthadu undavalli arun kumar lekka

[akkum_bakkum]

1 hour ago, Hitman said:

That is secondary. The demand will be there for rentals...

Mantra for rentals is background check. Paychecks alone r not sufficient to establish history. W2's and 2 months bank statements verify chesinanka ivvale.

[lollilolli2020]

2 hours ago, Sonu_Patel said:

DB lo home owners want bidding happen for their homes in neighborhoods and expect people to over pay and they find so much joy ..

so they target me.. 

@neneno1 - price reductions are real in atlanta anna.. many homes easy ga selling for 20K-30K than asking prices.. after Jan 20 depending on the eh1b future.. housing prices trend inka clarity vastadi. 

below $150 per sft price ochchinappudu kanapadu; also lot premiums 20K max. 
 

750K ki 20k tagguthe endii 25K tagguthe endii; real value below 500K aithe. 

[lollilolli2020]

27 minutes ago, Sonu_Patel said:

few people i know did house warming eedio last year and selling home this year anna

nuvvu happy ee gaa 

[akkum_bakkum]

31 minutes ago, Sonu_Patel said:

few people i know did house warming eedio last year and selling home this year anna

ee sadism endanna...

[Sonu_Patel]

13 minutes ago, akkum_bakkum said:

ee sadism endanna...

 

anna.. I am not happy anna.. 

I have been a promoter of financial planning of buying homes..

knowledge kosam numerous posts vesa.. but i am sad people ending up selling after realizing the monthly pain. 

 

[ARYA]

8 minutes ago, Sonu_Patel said:

 

anna.. I am not happy anna.. 

I have been a promoter of financial planning of buying homes..

knowledge kosam numerous posts vesa.. but i am sad people ending up selling after realizing the monthly pain. 

 

sonu anna travisso lo oka mansion kondama ani thinking when is the right time?

[Paamu]

1 hour ago, Sonu_Patel said:

few people i know did house warming eedio last year and selling home this year anna

deeniki house cooling video untadaa ? 

[Sonu_Patel]

16 hours ago, Paamu said:

deeniki house cooling video untadaa ? 

papam anna..

mostly newly married couples without proper financial planning. 

signing homes for show off and ending up selling after realizing the expenses. 

[allbakara]

3 hours ago, Sonu_Patel said:

papam anna..

mostly newly married couples without proper financial planning. 

signing homes for show off and ending up selling after realizing the expenses. 

It’s good, atleast they will realize now. It’s fine living in apartment until they have proper planning.

[ARYA]

4 hours ago, Sonu_Patel said:

papam anna..

mostly newly married couples without proper financial planning. 

signing homes for show off and ending up selling after realizing the expenses. 

 

[Moon_Walker]

Post on expats from Dallas uncle

 

Subject: Seeking Your Advice – 🚨 Urgent Help Needed

Hello Everyone,

I’m reaching out because I’m in a very tough spot and truly value the advice and expertise of this group. Right now, I’m feeling overwhelmed, lost, confused and unsure about the best course of action forward. I have about the end of January to make a critical decision, and I’m really counting on your guidance to help me navigate this situation. Please help 🙏🙏

The Situation:
In 2022, I bought a house in Dallas at the post-COVID market peak, with a 5% interest rate and a $3,500 monthly mortgage (30 years). Now, I’ve been suddenly asked to relocate to my company’s office on the West Coast or else I will be terminated. Staying in Dallas is no longer an option for me and I do intend to move. 

Below are the three options I’ve considered for my house, but I’m struggling to decide which makes the most financial and long-term sense: I need to decide quickly as I am running out of time ⌛️  Group members, financial experts or if anyone else who might have gone through similar situation- please help !!!! 

Option 1 - Sell the House
 • The house has appreciated by about $50K over the past 3 years.
 • My company will cover the realtor fees, so there won’t be any additional cost for selling.
 • After paying off the bank loan, I’d have around $200K left, which I could invest in ETFs (like VOO or QQQ).
 • On the West Coast, buying a house is out of my budget, so I’d plan to rent for the next couple of years.

Option 2 - Rent the House
 • Rental income in my community is around $2,500/month, which would leave a $1,000 shortfall.
 • Adding HOA, property management fees, and maintenance costs, I’d need to pay ~$1,500/month out of pocket + there could be few months of non occupancy as well.

Option 3 - Reduce Principal Balance & Rent the house
 • I have around $150K (leaving aside my emergency fund) to pay down towards principal.
 • If I recast the loan to 30 years at the same interest rate (lender is ok), the mortgage payment would be almost equal to the rent + maint. cost.
 • In this option, I’d only need to pay an additional ~$200/month from my pocket for property management fees but I’m not sure if this is a good option from a financial lens i.e. Paying down $150K to reduce mortgage vs. keep investing the money in ETFs

My Dilemma: I’m completely lost about which option to choose. Should I sell the house, rent it and cover the shortfall, or pay down the principal to reduce my monthly mortgage payment? Each option feels risky in different ways, and I want to make the right financial decision for the long term.

Please, if you have any advice, guidance, or suggestions, I would greatly appreciate it. Your input will help me immensely as I try to figure this out.

Thank you so much in advance for taking the time to help me. 

If you have any further questions or want to know any specifics to help me arrive at a better financial decision, please feel free to ask.

 

[Konebhar6]

1 hour ago, Moon_Walker said:

Post on expats from Dallas uncle

 

Subject: Seeking Your Advice – 🚨 Urgent Help Needed

Hello Everyone,

I’m reaching out because I’m in a very tough spot and truly value the advice and expertise of this group. Right now, I’m feeling overwhelmed, lost, confused and unsure about the best course of action forward. I have about the end of January to make a critical decision, and I’m really counting on your guidance to help me navigate this situation. Please help 🙏🙏

The Situation:
In 2022, I bought a house in Dallas at the post-COVID market peak, with a 5% interest rate and a $3,500 monthly mortgage (30 years). Now, I’ve been suddenly asked to relocate to my company’s office on the West Coast or else I will be terminated. Staying in Dallas is no longer an option for me and I do intend to move. 

Below are the three options I’ve considered for my house, but I’m struggling to decide which makes the most financial and long-term sense: I need to decide quickly as I am running out of time ⌛️  Group members, financial experts or if anyone else who might have gone through similar situation- please help !!!! 

Option 1 - Sell the House
 • The house has appreciated by about $50K over the past 3 years.
 • My company will cover the realtor fees, so there won’t be any additional cost for selling.
 • After paying off the bank loan, I’d have around $200K left, which I could invest in ETFs (like VOO or QQQ).
 • On the West Coast, buying a house is out of my budget, so I’d plan to rent for the next couple of years.

Option 2 - Rent the House
 • Rental income in my community is around $2,500/month, which would leave a $1,000 shortfall.
 • Adding HOA, property management fees, and maintenance costs, I’d need to pay ~$1,500/month out of pocket + there could be few months of non occupancy as well.

Option 3 - Reduce Principal Balance & Rent the house
 • I have around $150K (leaving aside my emergency fund) to pay down towards principal.
 • If I recast the loan to 30 years at the same interest rate (lender is ok), the mortgage payment would be almost equal to the rent + maint. cost.
 • In this option, I’d only need to pay an additional ~$200/month from my pocket for property management fees but I’m not sure if this is a good option from a financial lens i.e. Paying down $150K to reduce mortgage vs. keep investing the money in ETFs

My Dilemma: I’m completely lost about which option to choose. Should I sell the house, rent it and cover the shortfall, or pay down the principal to reduce my monthly mortgage payment? Each option feels risky in different ways, and I want to make the right financial decision for the long term.

Please, if you have any advice, guidance, or suggestions, I would greatly appreciate it. Your input will help me immensely as I try to figure this out.

Thank you so much in advance for taking the time to help me. 

If you have any further questions or want to know any specifics to help me arrive at a better financial decision, please feel free to ask.

 

He is stupid for a couple of reasons

1. There are no choices. Option 1 is the only option. He should feel stupid for even considering other options

2. He is in a good position making money on the house. There is no need to panic or feel stressed out. 

[Sonu_Patel]

10 hours ago, Konebhar6 said:

He is stupid for a couple of reasons

1. There are no choices. Option 1 is the only option. He should feel stupid for even considering other options

2. He is in a good position making money on the house. There is no need to panic or feel stressed out. 

This is a situation of person who bought home in 2022 anna..

next year 2023 and 2024 lo konnollu .. posts vestaru chudu vallaki option 1 kuda undadhu..

negative equity + real estate agent commission + moving costs + double expenses if they keep the home empty after relocation..

manollu ehh1b medha foreclose kuda cheyaledu.. because GC process ki problem avtundi kabatti

do not get into expensive segment of real estate now. 

[Sonu_Patel]

On 1/2/2025 at 3:01 PM, ManchamKodi said:

@Sonu_Patel anna Dallaspuram lo students telling prices will go to 1.5 million in melisa

east tirigi okkokadini ongo ani chepu anna.. 

Melisa okapudu dumpster city adi.. 1.5 million predictions chestunnara ... adi avadamma.. LOL