As expected - exurbs are showing cracks (Mountain house, Lathrop, Tracy +)

[Chittoorodu]

Housing correction seems to brew, starting with exurbs (Mountain House, Lathrop, Manteca, Tracy +)

House bought in 2022, for $1.325mn over asking by $125k, Listed to sell for $1.393mn and 2 price cuts to $1.235mn

https://www.zillow.com/homedetails/564-W-Piedmont-Dr-Mountain-House-CA-95391/94697016_zpid/
 

2/7/2025	Price change	$1,235,000 -4.9% $444/sqft

1/25/2025	Price change	$1,299,000 -6.7% $467/sqft
1/8/2025	Listed for sale	$1,393,000 +5.1% $501/sqft
5/26/2022	Sold	$1,325,000 +10.5% $476/sqft
4/19/2022	Pending sale	$1,199,000 $431/sqft

[ARYA]

Last week mountain house lo pulte gadi opening ki 1k members vacharu…5.6% edo offer istundu anta konthamandiki..

bay area gurinchi em fikar kavoddu…people here have a lot of cash in hand and waiting ready for rates to drop just by 1-2%..

[Paamu]

16 minutes ago, ARYA said:

Last week mountain house lo pulte gadi opening ki 1k members vacharu…5.6% edo offer istundu anta konthamandiki..

bay area gurinchi em fikar kavoddu…people here have a lot of cash in hand and waiting ready for rates to drop just by 1-2%..

How you know - any source ? 

[ErraBook_monagadu]

First these are not Bay Area. They are in Central Valley, cow belt with dust and smell, windy, hotter than Bay Area 10 degrees.

Problem is that there is no monetizing of the investment in Tracy. Zero rental demand. Idiotic thing is Tracy houses are faraway from Tracy also. no one from Tracy wants to live there.

Investor purchases the property, it is vacant . Most of houses listed for sale now didn’t rent for a year. Many more rentals on market over 6 months. Soon they come up for sale. In addition, builder is building crazy. Year end ki Pennies on dollar sale cheskoni vellipotaru andaru.

 

[ErraBook_monagadu]

Brainless investors want to treat houses like crypto, only they will purchase. Their only confidence is finding bigger fool to buy it at even higher price later.

[ErraBook_monagadu]

Builder will be safe even selling half the price because when they started planning this project prices were normal. They didn’t expect COVID wfh, and our people pumped up prices on 500k-700k houses to 1.1-1.4M.

[basha786]

2 hours ago, Chittoorodu said:

Housing correction seems to brew, starting with exurbs (Mountain House, Lathrop, Manteca, Tracy +)

House bought in 2022, for $1.325mn over asking by $125k, Listed to sell for $1.393mn and 2 price cuts to $1.235mn

https://www.zillow.com/homedetails/564-W-Piedmont-Dr-Mountain-House-CA-95391/94697016_zpid/
 

2/7/2025	Price change	$1,235,000 -4.9% $444/sqft

1/25/2025	Price change	$1,299,000 -6.7% $467/sqft
1/8/2025	Listed for sale	$1,393,000 +5.1% $501/sqft
5/26/2022	Sold	$1,325,000 +10.5% $476/sqft
4/19/2022	Pending sale	$1,199,000 $431/sqft

by end of 2026 all of this will be min 30% down from peak 

[pandugadu999]

1 hour ago, ErraBook_monagadu said:

First these are not Bay Area. They are in Central Valley, cow belt with dust and smell, windy, hotter than Bay Area 10 degrees.

Problem is that there is no monetizing of the investment in Tracy. Zero rental demand. Idiotic thing is Tracy houses are faraway from Tracy also. no one from Tracy wants to live there.

Investor purchases the property, it is vacant . Most of houses listed for sale now didn’t rent for a year. Many more rentals on market over 6 months. Soon they come up for sale. In addition, builder is building crazy. Year end ki Pennies on dollar sale cheskoni vellipotaru andaru.

 

aithey mh, tracy, river islands kakunda inkekkada konocho cheppu uncle

[pandugadu999]

1 hour ago, ARYA said:

Last week mountain house lo pulte gadi opening ki 1k members vacharu…5.6% edo offer istundu anta konthamandiki..

bay area gurinchi em fikar kavoddu…people here have a lot of cash in hand and waiting ready for rates to drop just by 1-2%..

Whos is pulte

[jefferson1]

2 minutes ago, pandugadu999 said:

Whos is pulte

builder

[pandugadu999]

2 hours ago, Chittoorodu said:

Housing correction seems to brew, starting with exurbs (Mountain House, Lathrop, Manteca, Tracy +)

House bought in 2022, for $1.325mn over asking by $125k, Listed to sell for $1.393mn and 2 price cuts to $1.235mn

https://www.zillow.com/homedetails/564-W-Piedmont-Dr-Mountain-House-CA-95391/94697016_zpid/
 

2/7/2025	Price change	$1,235,000 -4.9% $444/sqft

1/25/2025	Price change	$1,299,000 -6.7% $467/sqft
1/8/2025	Listed for sale	$1,393,000 +5.1% $501/sqft
5/26/2022	Sold	$1,325,000 +10.5% $476/sqft
4/19/2022	Pending sale	$1,199,000 $431/sqft

Mountain house is so depressing area especially Altamount and Bethany area..I dont understand how this is formed.and people bought homes..

[pandugadu999]

15 minutes ago, basha786 said:

by end of 2026 all of this will be min 30% down from peak 

new houses kuda na uncle..ipudu konudu waste aa aa areas lo

[ErraBook_monagadu]

13 minutes ago, pandugadu999 said:

aithey mh, tracy, river islands kakunda inkekkada konocho cheppu uncle

Don’t end up being the bigger fool

”Brainless investors want to treat houses like crypto, only they will purchase. Their only confidence is finding bigger fool to buy it at even higher price later.”

[pandugadu999]

9 minutes ago, ErraBook_monagadu said:

Don’t end up being the bigger fool

”Brainless investors want to treat houses like crypto, only they will purchase. Their only confidence is finding bigger fool to buy it at even higher price later.”

Investment purpose kadu uncle..primary home..illu konakunda rent e better antava aithey..

[RPGPulka]

2 hours ago, ARYA said:

Last week mountain house lo pulte gadi opening ki 1k members vacharu…5.6% edo offer istundu anta konthamandiki..

bay area gurinchi em fikar kavoddu…people here have a lot of cash in hand and waiting ready for rates to drop just by 1-2%..

@csrcsr printing cash in moutain house and tracy homes @Aquaman giving money for higher interests