Real Estate - My opinion on Current Home prices and Interest rates !!

[Thokkalee]

2 hours ago, Sonu_Patel said:

People who bought homes before pandemic are lucky enough and got combination of Low home prices and Low Interest rates refinancing options during the pandemic. 

- Ipudu unna situations lo Higher home prices and Higher interest rates (~7%) ki.. Home sellers/builders are still expecting high pandemic prices no matter the interest rates. 

- Unfortunately, people who buy this year with such higher Interest rates will be at higher financial risk! 

- Do not fall into trap for Bidding in the current market!

- Realtors will always keep pressure on home buyers to submit offers.

- Always calculate the monthly payment and your take home salary after taxes. Typically, the monthly home payment must be less than 30% of your take home pay. I bet this works out perfectly for people who bought at right price. 

- Real Estate is all about LOCATION LOCATION LOCATION. Focus on finding a home in a good area which has good access to Restaurants, Groceries, Work location if applicable. 

- If buying a pre-owned home, do the full inspection and find out if any repairs are required. Do not give blind offers. 

- If you have kids/plan to have kids.. look at school ratings on Great Schools or niche website. higher school ratings will always attract buyers. 

- More importantly, If the home current price is more than Double the home value before 2020. Do NOT buy because there is good chances for correction and you end up in life long wait to build that equity on home. 

Veerigadu kuda ilaage andariki advice ichhevaadu, house konaka mundu... konnaaka manesaadu.. if you don’t own a house and you advice ppl on home buying, people don’t take you seriously.. 

Buy something that is affordable to you.. peer pressure, relatives edo antaaru, friends homes peddavi unnaayi, 2 yrs back konnavallaki low interest rates, etc etc etc.. ivanni waste muchhatlu..

you can always upgrade and buy a bigger/better home.. no one will rescue you if you get into a debt trap.. they will only sympathize with you.. remember that buying a home is a 30 yr commitment.. 

[EyBisa]

estart

[kakatiya]

2 hours ago, KGFsutthi said:

O sthree Repu ra laga ide cheptunnaru every year, when is right time to buy bro? Already pattukoni waiting kindha 

Market is relasing inventory very slowly..500 homes build cheese builder..5 homes build chesi 950,000 ki vadultundu .. he is only targeting big parties and maintaining margin.. and they r doing it very slowly in different areas..then home prices will never come down..

[kakatiya]

10 minutes ago, kakatiya said:

Market is relasing inventory very slowly..500 homes build cheese builder..5 homes build chesi 950,000 ki vadultundu .. he is only targeting big parties and maintaining margin.. and they r doing it very slowly in different areas..then home prices will never come down..

Basically once up on a time..five construction companies used to build fifty homes at a time..and competition used to be high.. now they are building 5 homes per area and in different lots..and not competing..they r controlling demand and inflation .. mg poyindhi housing market 

[terminator_desi]

5 hours ago, perugu_vada said:

Buying an house is a luxury and it is an upgrade .. bcos u are moving from 1bhk or 2bhk apartment to 4-5bed room house 

if u can’t afford and ready for the luxury .. just don’t go for it .. bcos buying a house is a big commitment .. it can take up lives .. 

@perugu_vada opt poragallu illlu kontunaru ,GC unna manam illu inka konaledhu ani emaina guilt feeling anipisthada eppudaina?

[psycopk]

Naku texas move aavali ani motham house plan community.. ani set chesi numbers run down cheste.. idaram job chesina just mortgage varaku katta galam.. aa 2.4 tax every year on a million dollar home is too much man.. ela kadutunaro meru anta.. postponed to next yr..

[veerigadu]

3 minutes ago, psycopk said:

Naku texas move aavali ani motham house plan community.. ani set chesi numbers run down cheste.. idaram job chesina just mortgage varaku katta galam.. aa 2.4 tax every year on a million dollar home is too much man.. ela kadutunaro meru anta.. postponed to next yr..

Dallas or Austin? Ekkada planning samara 

[psycopk]

Just now, veerigadu said:

Dallas or Austin? Ekkada planning samara 

austin

[Manishican]

Only job market collapse will cool down housing. But today job numbers are up again.

 

https://finance.yahoo.com/news/job-openings-show-surprise-increase-in-april-142039924.html

[Mr Mirchi]

6 hours ago, KGFsutthi said:

O sthree Repu ra laga ide cheptunnaru every year, when is right time to buy bro? Already pattukoni waiting kindha 

Right time is gone with covid

[cameraman]

1 hour ago, psycopk said:

Naku texas move aavali ani motham house plan community.. ani set chesi numbers run down cheste.. idaram job chesina just mortgage varaku katta galam.. aa 2.4 tax every year on a million dollar home is too much man.. ela kadutunaro meru anta.. postponed to next yr..

samara, DB nunchi vache income tho mortgage payments chesey

[Telugodura456]

1 hour ago, psycopk said:

Naku texas move aavali ani motham house plan community.. ani set chesi numbers run down cheste.. idaram job chesina just mortgage varaku katta galam.. aa 2.4 tax every year on a million dollar home is too much man.. ela kadutunaro meru anta.. postponed to next yr..

What will happen next year ? house prices will continue to raise in my opinion.

[Manishican]

Fed might increase interest rates a lot from here. Appudu prices might fall?

[psycopk]

7 minutes ago, Telugodura456 said:

What will happen next year ? house prices will continue to raise in my opinion.

tech sector okate strong ani padipoinai... next er will be the trigger for downfall

[Manishican]

4 minutes ago, psycopk said:

tech sector okate strong ani padipoinai... next er will be the trigger for downfall

Tech sector stocks are hitting 52 week highs. Can not say anything about future?