8% Mortgage rates - Home Inventory keeps rising

[Sonu_Patel]

Lots of New home prospect buyers are sidelines on the Home search due to the Higher Interest rates approximately 8%. 

Affordability is taking big hit and banks wont qualify based on the debt to income ratio. 

What's Next: 

- The homes which are valuated at a double the Median home price in the area will take a hit over the next 3-6 months. 

- The Luxury home market will take a big hit where the buyers will have a good power of negotiating considering the Seller Motivation. 

- There are chances the Mortgage rates will remain elevated in 2024. If the Housing Inventory rises in the course of time, we will see more price reductions and Deals. 

- The growth in the housing market will remain flat over the next year depending on the fed actions on Interest rates. 

PS: Prathi kukka ki oka roju vastadi.. Ucha aapukoni money wise ga save chesi invest cheskondi.. 8% mortgage rates not viable and uthaga banks will loot your hard earned money antunna Experienced Home owners. 

[EyBisa]

[Thokkalee]

2 hours ago, Sonu_Patel said:

 

PS: Prathi kukka ki oka roju vastadi.. Ucha aapukoni money wise ga save chesi invest cheskondi.. 8% mortgage rates not viable and uthaga banks will loot your hard earned money antunna Experienced Home owners. 

Self affirmation try chesthunnava ee db lo??

[Sonu_Patel]

1 hour ago, Thokkalee said:

Self affirmation try chesthunnava ee db lo??

whats my point is 2% rates unapudu properties rise aenapudu..

8% interest rates ki property values  taggali ga. 

[Thokkalee]

4 minutes ago, Sonu_Patel said:

whats my point is 2% rates unapudu properties rise aenapudu..

8% interest rates ki property values  taggali ga. 

Why do you care about others?? 
Demand and supply.. the builders are keeping the supply low.. and maintaining the demand on the new homes…

but the old home prices are going down and down..  old homes choodu.. 

[usetime63]

8 minutes ago, Sonu_Patel said:

whats my point is 2% rates unapudu properties rise aenapudu..

8% interest rates ki property values  taggali ga. 

Cant decide life decisions in those assumptions.

 

Multiole jobs chese toniki ilantivi aath care.

Regular vallu like you and me ulane dilemma lo undali no option. 

[argadorn]

12 minutes ago, Thokkalee said:

Why do you care about others?? 
Demand and supply.. the builders are keeping the supply low.. and maintaining the demand on the new homes…

but the old home prices are going down and down..  old homes choodu.. 

enni rojulu unchutharu uncle builders … vallu money kavali ga evado thingarodu untadu vadiki profit 100 k chalu on house anukuntadu ah builder ammuthadu obviously others builders  will follow 

[Thokkalee]

11 minutes ago, argadorn said:

enni rojulu unchutharu uncle builders … vallu money kavali ga evado thingarodu untadu vadiki profit 100 k chalu on house anukuntadu ah builder ammuthadu obviously others builders  will follow 

That’s their problem.. as a buyer I will look for the best possible deal in this market.. or wait until the market goes further down.. 

[Konebhar6]

4 hours ago, Sonu_Patel said:

Lots of New home prospect buyers are sidelines on the Home search due to the Higher Interest rates approximately 8%. 

Affordability is taking big hit and banks wont qualify based on the debt to income ratio. 

What's Next: 

- The homes which are valuated at a double the Median home price in the area will take a hit over the next 3-6 months. 

- The Luxury home market will take a big hit where the buyers will have a good power of negotiating considering the Seller Motivation. 

- There are chances the Mortgage rates will remain elevated in 2024. If the Housing Inventory rises in the course of time, we will see more price reductions and Deals. 

- The growth in the housing market will remain flat over the next year depending on the fed actions on Interest rates. 

PS: Prathi kukka ki oka roju vastadi.. Ucha aapukoni money wise ga save chesi invest cheskondi.. 8% mortgage rates not viable and uthaga banks will loot your hard earned money antunna Experienced Home owners. 

Yadanna, manam anukodame kaani ee house prices padedi kanapadatleedu

[argadorn]

12 minutes ago, Konebhar6 said:

Yadanna, manam anukodame kaani ee house prices padedi kanapadatleedu

Padayi kadha atkeast 100 k to 120 k from

Jan  2022 prices .. am I missing anything 

[Konebhar6]

3 minutes ago, argadorn said:

Padayi kadha atkeast 100 k to 120 k from

Jan  2022 prices .. am I missing anything 

Depends on place to place I think. Those places that have a lot of inventory may have fallen. CA still has multiple bids in popular areas.

[karna11]

18 minutes ago, argadorn said:

Padayi kadha atkeast 100 k to 120 k from

Jan  2022 prices .. am I missing anything 

New homes padaledhu gani, upgrades/offers thega peduthunnaru rates increase cheyakundaa

[Ravi860]

Appraisal gaps are imminent in these crazy market situation. Upswing or downswing ayina… especially build from scratch 

[manadonga]

Emo bhayya nenu ekkadiki vellina 

bargaining begin cheste dobbey antunaru 

5k taggiatamu antunaru 

kani homes withbin 2 minths lo sold out 

[Ravi860]

2 minutes ago, manadonga said:

Emo bhayya nenu ekkadiki vellina 

bargaining begin cheste dobbey antunaru 

5k taggiatamu antunaru 

kani homes withbin 2 minths lo sold out 

Area?