movement on home prices - up, down, standing firm ?

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  #1  
Old 03-22-2020, 10:19 AM
stadry stadry is offline
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Default movement on home prices - up, down, standing firm ?

we're into this virus thing for 3 weeks now,,, notwithstanding we're closing on/about 5.1.20, what's the general observation re home prices,,, here in atl, they're declining slightly if you've got a home above $500K,,, on related note, fl 'realtors' ( tv salespeople/brokers are NOT 'realtors', remember ? ) are promulgating clause in their sales contract allowing delays in closing date due to financing/travel/illness/maybe even hangnails
remains to be seen if contracts will become void due to 'act of God' which may require court case - idk but curious
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Old 03-22-2020, 12:56 PM
B767drvr B767drvr is offline
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Not an economist, but a -24% Q2 projected GDP (growth) will not help home prices.

Goldman Sachs now says US GDP will shrink 24% next quarter amid the coronavirus pandemic - which would be 2.5 times bigger than any decline in history | Markets Insider
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Old 03-22-2020, 01:17 PM
retiredguy123 retiredguy123 is offline
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In my opinion, pre-owned houses in The Villages will decline in value significantly in the near future. I cannot imagine that anyone who doesn't need to buy a house would consider making an offer to buy a house today. Many pre-owned houses are priced 80 to 100 percent above what they sold for less than 5 years ago. I don't think they will sell for that amount now.
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Old 03-22-2020, 02:12 PM
B767drvr B767drvr is offline
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...more depressing economic news: are we ready for 30% unemployment?

Fed'''s Bullard: Coronavirus shutdown not a recession; an investment in survival
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Old 03-22-2020, 04:18 PM
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asianthree asianthree is online now
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So far not one house we are looking at is willing to come down in price
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Old 03-22-2020, 05:18 PM
vintageogauge vintageogauge is offline
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They are not coming down. Take a ride into DeLuna and Chitty Chatty and you will see they are building just a as fast as they can and very few homes are being advertised with discounts. Re-sales may be a different story, if the owners need to sell the prices will drop if they can hold on for a couple months the prices will hold. Just my opinion.
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Old 03-22-2020, 05:21 PM
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One of my neighbors with a very nice designer home has taken it down fro 403K to 358K.
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Old 03-22-2020, 06:23 PM
WEHOWL WEHOWL is offline
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TV salespeople are licensed real estate sales associates. The education is the same as any associate working in a brokerage office. One must belong to a national RE association, to use the term REALTOR.
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Old 03-22-2020, 08:00 PM
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One thing is for sure, they aren’t going up in the near future. Only time will tell what direction prices will go in the next couple of years. A lot of it will depend on three factors, when/if the virus gets under control (markets hate uncertainty), wheather the markets stabilize and show signs of recovery (people getting comfortable spending money on a new home), and the overall health of our country’s economy (critical things like unemployment, consumer confidence, businesses default rates, etc,,, ). Obviously, all these factors are related and only time will tell how things play out? One thing is for certain, there was already a very dangerous black cloud hanging over our country’s future before the Covid-19 reared it’s ugly head. The United States huge and out of control debt burden. Our debt is about to balloon to catastrophic levels with the upcoming federal stimulus and bailouts, which will most likely be of unprecedented proportions. Very dangerous times indeed.
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Old 03-23-2020, 06:56 AM
stadry stadry is offline
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better stated 'MOST sales people are licensed',,, i believe if 1 is a salaried employee, 1 need not be licensed as a sales associate or broker,,, 'Realtor' is a copyrighted name - to use it, 1 must belong to the 'Natl Assoc of Realtors' NOT just any natl re assoc real estate sales associates,,, eg, NAREB ( Natl Assoc of Real Estate Brokers ) membership doesn't carry the 'Realtor' designation yet it is a national real estate assoc
no idea if tv real estate people have same education opportunities, designations, professional recognition, &/or accomplishments as do Realtors - i'm ignorant on that part
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home, prices, closing, due, movement

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