Micic in thunder gear

ntrubilla · 2023-07-02T23:17:53+00:00

Wallace is a better shooter than Dort from what I hear

ntrubilla · 2023-07-01T17:17:23+00:00

Wojbomb: "Ryantorb left his $100k a year salary to test the market. As of now, he has only received the ShopRite Mid-level exception. 'This is all according to plan' said Ryantorb's agent, Dennis Schroeder."

ntrubilla · 2023-07-01T15:07:50+00:00

You're right. Next time a buyer comes to me looking to find a place to live, I'll tell them "Don't don't do what you need to get your offer accepted. Continue to watch prices appreciate putting you further in home insecurity. HerrBerg said I'm a scumbag if I help you get what you want and are willing to pay for."

ntrubilla · 2023-07-01T15:02:15+00:00

Supply and demand economics. The fact that these homes are not on the market is because supply is so low they can continue to be held as an appreciating asset. If you introduce more supply to the market by building homes (simply adding homes that already exist will not fix this problem) then investor-owned homes will lose their appeal as an investment. The fact that investors are buying so many properties is a symptom of the problem and not the actual problem itself. Increasing the supply of new constructions for an ever-growing population is the only solution to this crisis which actually addresses the fundamental problem.

You know you can make the decision to be civil online, right?

ntrubilla · 2023-07-01T14:19:21+00:00

It's not the standard for everyone. It's my informed opinion. Just like no single doctor's opinion or mechanic's opinion is infallible. If you disagree, feel free to make a coherent argument for me to consider. If you don't want to do that, feel free to keep your malicious sarcasm to yourself. Ultimately, feel free to do or say whatever you want because that's what life's about

ntrubilla · 2023-07-01T14:11:47+00:00

Never change, Reddit

ntrubilla · 2023-07-01T13:53:59+00:00

There are laws requiring insurance. There are no laws requiring what you can or can't sell a home for (provided it isn't an governmentally subsidized price-restricted property).

Sell your home to a stranger for $100k less than what it's worth and you truly will be the chosen one. I'll wait here for you to post the settlement statement.

ntrubilla · 2023-07-01T13:51:12+00:00

If they're not available to be purchased, they're not on the market. An increase in supply would make them less likely to be valuable assets, and so they would be dumped onto the market. But if they're not available to be bought, they are not relevant to a discussion about current inventory.

I'm sure you felt real good typing that though

ntrubilla · 2023-07-01T13:48:39+00:00

You're missing the point of my comment. A buyer who places any amount of value on asking price is putting more meaning into asking price than it is worth, rather than interpreting what the price should be based on comps and the market. A successful buyer considers their (hopefully competent) agent's advice on pricing based on data and insight. Sometimes I recommend an asking price bid, sometimes I recommend a below asking bid. It all depends on the data. What the seller and their agent set as the asking price is way down the line in what should be given weight when crafting an offer.

A buyer emphasizing offering asking as some kind of achievement or feather in their cap is weighing variables incorrectly and is much more likely to overpay on overpriced homes or be non-competitive on underpriced homes.

ntrubilla · 2023-07-01T13:42:39+00:00

I'm sorry you've sunk into defeatism. I hope your situation improves and you're given reason to be hopeful again.

As far as the end of your comment goes, there are many people who are over-leveraged because they have poorly priced in risk. Real Estate isn't a risk free investment. The risk for people who want to live in homes and stay put is mitigated by the fact they have somewhere to live. For Real Estate investors, the risk is bankruptcy. No doubt something in the future will cause some kind of financial shock. When the tide goes out, we will get to see who was skinny dipping.

ntrubilla · 2023-07-01T13:33:57+00:00

Lives their life... in a house they bought... as part of the system. You should try being more persuasive rather than call names. It's a bad look

ntrubilla · 2023-07-01T13:29:27+00:00

It's all about expectations. If you're expecting a house, you need to adjust to an apartment or townhome. If you're expecting an apartment or townhome and they're in that price range, you need to reassess your location. It sucks to do, but what sucks even worse is never owning your own property and being able to move up the property ladder because you're stuck in the rent trap.

Believe me, I know it's not easy. But I try to problem solve, and these are the only feasible solutions to your problem besides "make more money" or "take the gamble what you want will be affordable as someone losing equity to rent"

ntrubilla · 2023-07-01T12:42:47+00:00

What did I say that was assholish, exactly? Text is a terrible medium for deducing affect. I think this is being overly reactive to things you may not like reading or disagree with.

ntrubilla · 2023-07-01T12:36:29+00:00

*asking price is a made up marketing number and does not reflect the actual value of the home.*

What did it sell relative to the comps is the only question that mattered now, then, ever

ntrubilla · 2023-07-01T12:11:52+00:00

An empty house does not mean it's an available house. If they're not participating as inventory to sell, it's not relevant.

I hate landlords with a passion. They're leeches on society, so I agree it is a big problem. But the only way you're going to fix that is by changing the economic equilibrium or legislating it out. If I had to bet on one, I'd bet the equilibrium changes before our billionaire-owned government steps up to help the average American.

ntrubilla · 2023-07-01T12:07:49+00:00

*asking price is a made up marketing number and does not reflect the actual value of the home.*

What you said does not necessarily mean your market is cooling if they still sold the house for a price higher than comparables. Hence I reiterate my point above.

ntrubilla · 2023-07-01T12:05:26+00:00

Sounds like it's not a starter home. Do you own something right now?

ntrubilla · 2023-07-01T04:07:46+00:00

No, because you continue to build equity whether the market is up or down. Ultimately, it only matters where you buy in, and where you sell at, like any investment, but you build equity with each successive payment. If your home also appreciates along with the rest of the market, your accrued equity can be liquidated and then reinvested. Not to mention the money you make is not subject to capital gains tax as long as you've lived there 2 out of the last five years and don't profit more than $500,000 on the sale.

ntrubilla · 2023-07-01T03:31:13+00:00

Think of what a million dollar home in your area looks like.

What you're thinking of was a million dollar home five years ago. That home likely costs $1.3million now. A million today buys what $800,000 was buying 5 years ago.

That is true all the way up, and all the way down. Everyone is continuing to recalibrate their expectations on what money can buy them. The only ones making out like a bandit are the banks.

ntrubilla · 2023-07-01T03:19:10+00:00

Well, you need to adjust the equation. Either you need more money, or you need a cheaper house. The first option is harder. Compromising on what you want is the easier option and, barring a miracle, the only real path right now. I guarantee you that everyone who isn't outright wealthy is compromising in this market. I have clients with million-dollar budgets who are being forced to compromise.

ntrubilla · 2023-07-01T03:11:14+00:00

It absolutely shouldn't. I've helped many buyers break out of renting and into homeownership. The key is realistic expectations and persistence. Start small, and you'll find something that you can build equity in.

ntrubilla · 2023-07-01T02:58:57+00:00

Yep, and the free market should cause that to happen. However a "free market" is an abstraction and doesn't exist. There is a very limited supply of (desirable) land, not to mention every home built needs to be coordinated with local governments, multiple skilled tradesmen, and the opportunity cost of not investing in other ventures with the large amount of capital it takes. Plus, there's risk. What happens when you build a sea of homes and the job market falls apart, tanking demand? Bankruptcy.

ntrubilla · 2023-07-01T02:39:26+00:00

The stock market is up, gold is up, home prices are up, and interest rates are up. We're in uncharted territory. My expectation is the bubble won't pop because there is no bubble. These are the new values of homes. I don't think the market will see a correction because there is no supply of homes, and this is coupled with inflation devaluing the dollar. Real Estate is the best hedge against inflation, and so prices are rising quickly to reflect that.

But I could be wrong. Many people smarter than me have been wrong about things before!

ntrubilla · 2023-07-01T02:36:07+00:00

Anyone who tells you they know for sure is full of shit. That said, until there is a significant increase in the amount of homes being constructed, America has a substantial shortage. Supply and demand will continue to drive pricing. Not to mention, inflation has permanently changed the dollar value of properties and the housing market is the slowest asset to equilibrate with new values because sales take so long to complete and set new benchmarks.

There's also the expectation being factored in that interest rates will drop next year, driving another home value spike and presenting an opportunity to refinance. Whether it happens or not is to be seen.

ntrubilla · 2023-07-01T02:28:56+00:00

I get people into homes they want for the least money possible. There's nothing you can say that will make me feel bad about that. You speak from a place of privilege, already being a homeowner, and you speak down on me for helping people achieve the same thing?

If you want to break the system, sell your home for the same amount you paid for it, otherwise you're just a loud hypocrite.

ntrubilla

TROPHY CASE

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