[Babubhat]

Originally Posted by Aces4

I totally believe you, Nucky, our bidding war was nice but nothing like that!

Can’t get the developer to take my money in Richmond. Brutal process

[Aces4]

Originally Posted by Babubhat

Can’t get the developer to take my money in Richmond. Brutal process

I’ve heard it’s wicked tough to get into Richmond, might be a good reason to avoid it.

[Stu from NYC]

Do not understand why so many people play this game.

[manaboutown]

Housing markets face a brutal squeeze

[Laker14]

I assume we are all old enough to realize we've seen this movie before. I'm feeling fortunate I was able to talk my DW into making a move 2 years ago. We, just out of dumb luck, managed to hit a sweet spot when interests rates were low (2.75%) and just before home prices in TV went completely nuts.
I assume that most of us on this forum have made the move, are happy being homeowners in TV, not looking to sell, and can watch this phenomenon unfold without getting too emotionally invested.

I was not a cash buyer, as we kept our northern home so we can snowbird, so interest rates were a concern. If you are a cash buyer, and have been sitting on the sidelines hoping for a downturn in prices, maybe now is the time. I wouldn't wait too long though, as these national trends don't seem to hit TV as hard as normal residential markets get affected. I"ve watched the trends here since 2007, and while there have been some moderating downturns, as I say, not precipitous drops.
Just my free, and worthless, observations.

[Laker14]

We were renting in TV in February-March of 2020 when the COVID pandemic arrived. I was expecting a steep drop in prices in TV, and a huge drop in what I felt was an over-valued stock market. I was almost correct, but only very briefly so.
If DW and I had been ready with cash in hand in the Spring of 2020, I think we could have saved a few dollars, maybe quite a few dollars, over the prices we were looking at 9 months later in late Autumn of 2020, but the dip in prices, if it did indeed happen, was brief.
As was the stock market reaction. Very brief.

[Rainger99]

Operative word there is could.

U.S. home prices could fall as much as 20% next year - CBS News

[Stu from NYC]

Originally Posted by Laker14

I assume we are all old enough to realize we've seen this movie before. I'm feeling fortunate I was able to talk my DW into making a move 2 years ago. We, just out of dumb luck, managed to hit a sweet spot when interests rates were low (2.75%) and just before home prices in TV went completely nuts.
I assume that most of us on this forum have made the move, are happy being homeowners in TV, not looking to sell, and can watch this phenomenon unfold without getting too emotionally invested.

I was not a cash buyer, as we kept our northern home so we can snowbird, so interest rates were a concern. If you are a cash buyer, and have been sitting on the sidelines hoping for a downturn in prices, maybe now is the time. I wouldn't wait too long though, as these national trends don't seem to hit TV as hard as normal residential markets get affected. I"ve watched the trends here since 2007, and while there have been some moderating downturns, as I say, not precipitous drops.
Just my free, and worthless, observations.

AS interest rates rise folks wanting to move here will have problems selling and believe prices will drop.

That will lead to prices to drop here as well as I look into my trusty crystal ball.