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May 27, 2022
12:37
:49
pm
vegasnative
All-American
*Demand fueled by free money/low rates. As we move forward with realistic interest rates, that demand wont be there.
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vegasnative
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vegasnative
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Oct 17, 2012
Last login
May 12, 2024
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Messages
Author
Time
Listings way up in Utah and Idaho
byukarl
5/27/22 6:52am
Yep. This is accurate.
DavisCoCoug
5/27/22 6:56am
Many are still in denial.
rad dawg
5/27/22 6:57am
It's just a gully;)
Shore10
5/27/22 6:59am
I think people are accepting the higher prices and exploring side hustles.
Shore10
5/27/22 7:02am
Buyer demand nationwide is shrinking
byukarl
5/27/22 7:08am
Not sure listings are going to skyrocket. Who wants to trade a 2.7% rate for a 5.7%?
CrimWalCoug
5/27/22 7:30am
Jobs drying up and hiring freezes increasing across the board.
rad dawg
5/27/22 7:43am
There are some data points that indicate we may be past that stage already.
rad dawg
5/27/22 7:34am
The reality is very few people actually have “side hustles.” You’re spot on.
Mjolnir
5/27/22 7:38am
Wow. That's not good
TNT
5/27/22 7:54am
Just wait till prices start falling. CB assured me it will just be a “leveling
Iman23
5/27/22 7:07am
Haha...yep...CB experts telling anyone
byukarl
5/27/22 7:10am
Is it that or more people move during summer?
Skeeziks
5/27/22 7:07am
More people do move during the summer but there is definitely FOMO going on
BIG XII Coug
5/27/22 7:57am
That's my guess. Kids are getting out of school.
Shore10
5/27/22 11:56am
May is the traditional month for all the summer moves to hit the market
Nat Gas Man
5/27/22 12:00pm
You aren’t getting the same price when interest rates have doubled. The market
Pepe
5/27/22 7:07am
QT starts next week. Rates are only going higher. Markets will continue to
Backcountry
5/27/22 7:08am
“Odds of that happening are slim.” Actually odds of that happening are nil.
Hank Rearden
5/27/22 7:21am
We sold our house this last month in UT & bought another in Texas. It’s funny to
WDaddy
5/27/22 7:21am
was that your own savvyness to offer that much lower or did a realtor suggest it
CrashMcLarson
5/27/22 8:33am
His own savvyness. A realtor wouldn’t suggest such a thing.
RdF3
5/27/22 8:41am
That was our own savvyness. Our realtor wanted to go $100k less but since we
WDaddy
5/27/22 9:13am
Probably made a killing selling your Mapleton home though. Micromarket in that community.
Turnpike Lane
5/27/22 9:25am
I love it. Bring it on. Hope all the speculators get hammered.
Backcountry
5/27/22 9:40am
All I know is that 3 years ago my house appraised for $500k. The supposed value
OldFogey
5/27/22 2:07pm
I hear you. My house appreciated $600k during the 2.5 years that I lived there.
WDaddy
5/27/22 3:34pm
Everything I’ve seen on CB is that people expected this. The opinion of a pullback in the market
Pimpin4Paradise
5/27/22 7:38am
People are in denial even in this current thread.
BikeGuy
5/27/22 7:42am
Completely false. Go look at threads from last fall and into early this year.
Iman23
5/27/22 7:52am
Rates were raised. That's the cause
Hotlanta
5/27/22 7:57am
That’s the point. It was obvious the FED had to react to inflation by raising
The_Cuss
5/27/22 8:32am
The fed is trying to create a negative wealth effect. They are literally trying
Backcountry
5/27/22 9:41am
You can say I told you so because rate increases were obviously coming.
Socrates Johnson
5/27/22 10:14am
I knew the rates were going to change
JollyGreenGiant
5/27/22 10:35am
Are you serious? So many on here have said Utah market won’t fall or correct.
The_Cuss
5/27/22 8:33am
Prices are absolutely coming down. Everybody knows that. Monthly payments however (for the majority who finance) aren’t
RdF3
5/27/22 7:44am
In my area homes are already reducing their asking prices by $10,000 to $35,000
shokupanmanbo
5/27/22 7:45am
Lots of CB group thought is shaped by moderator bans on anyone that speaks up
jrifkin48
5/27/22 7:46am
It’s CBrs that think a bubble will burst
Idacoug
5/27/22 7:54am
Homes are still selling for 50-75K above listed price here in New England.
pilot17
5/27/22 8:00am
The outlier is the investors paying cash for homes.
BIG XII Coug
5/27/22 8:02am
This is my big concern. Investors aren’t in it for the long haul, they’ll pull
Pepe
5/27/22 8:26am
Depends upon the type of investors. Blackrock will probably stay in the game for
Nat Gas Man
5/27/22 9:59am
Exit fees to get out of a real estate investment aren't trivial and it takes
LaserCoug
5/27/22 11:13am
Im praying this scenario plays out
Backcountry
5/27/22 10:30am
nope.. that's not correct.
byukarl
5/27/22 8:33am
We better hope there is a 10-20% correction.
rad dawg
5/27/22 8:49am
I never said it will rebound. Prices will drop but not dramatically like many
Idacoug
5/27/22 8:59am
depends on how far they jack up mortgage rates
byukarl
5/27/22 9:08am
166 price cuts yesterday in Utah, 14 price increases, been that way everyday for
cougar95
5/27/22 8:01am
Simple math. Increased interest rates decrease purchasing power.
Idacoug
5/27/22 8:18am
Demands depressed and will continue as inflation bites into budgets and incomes
byukarl
5/27/22 8:34am
How many price cuts are $100-1000 dollars?
Shore10
5/27/22 4:59pm
Spoke to a guy from Lehi who put his house up a month ago
Desert Rat
5/27/22 8:34am
Call me crazy but I kind of welcome the impending correction and could easily
GangstaLean
5/27/22 9:09am
*Demand fueled by free money/low rates. As we move forward with realistic interest rates, that demand wont be there.
vegasnative
5/27/22 12:37pm
This seems exactly like something Biden/Obama would do.
crack
5/27/22 12:38pm
I still mock the correction argument
MyTwoCents
5/27/22 9:51am
It's still early. Wait. It's coming. Rates are still heading up.
Socrates Johnson
5/27/22 10:20am
Then you have a chance to make a fortune
MyTwoCents
5/27/22 11:33am
Not quite that simple as you know. Either way, historically 30 years are CPI +4%
Socrates Johnson
5/27/22 12:28pm
Just over a year ago a mortgage broker was trying to tell me not to buy down
CougaRR4L
5/27/22 10:10am
FOMO and Summer...time to move if you have kids in school.
zonacougar
5/27/22 10:42am
Some people are going to be shocked at the price point they sell for
Nat Gas Man
5/27/22 10:46am
Invest for the long term in Real Estate and Stocks
Chazz Reinhold
5/27/22 11:17am
Here are some real stats for you...
TrueBlue67
5/28/22 6:24am
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