Hey real estate moguls - what’s going on in the housing market?

[BabaYaga 15,313]

2 minutes ago, Bookman said:

New file this morning. Looks to be almost $180,000 in equity based on the foreclosure price, but the trustee is saying no excess proceeds. 

And banks just want to recover their money, right?

Exactly.  Banks exist to make money.  They will squeeze this market for everything it has, same as any other investor.  Are these straight up CH7/13's, or DIL's or forbearance cases?

[Bookman 4,640]

It’s a standard nonjudicial foreclosure. Williamson County.

[JimmyJames 12,271]

4 hours ago, Bookman said:

New file this morning. Looks to be almost $180,000 in equity based on the foreclosure price, but the trustee is saying no excess proceeds. 

And banks just want to recover their money, right?

That should be a crime. Yet for some strange reason it is not. Wonder why. 

[tbone_ 14,157]

House near me sold for $1.75M in August. Just listed again this week for $2.45M.

[Hefeweizen 5,332]

5 minutes ago, tbone_ said:

House near me sold for $1.75M in August. Just listed again this week for $2.45M.

lol.  Not sure where that is but I have seen a few in my area (Westlake) that have doubled in price in about 3 to 4 years.  Insane.

[tbone_ 14,157]

lol.  Not sure where that is but I have seen a few in my area (Westlake) that have doubled in price in about 3 to 4 years.  Insane.

Scottsdale. That house was worth maybe $1.2M 18 months ago.

[JimmyJames 12,271]

Personally. I’m Pissed off the tax bills on my houses In river oaks and highland park have almost doubled. - Surly one percenter. 

[deadshank 24,653]

8 hours ago, JimmyJames said:

Personally. I’m Pissed off the tax bills on my houses In river oaks and highland park have almost doubled. - Surly one percenter. 

Yes.  
 

I am. 

[MaybeACoordinator 8,349]

59 minutes ago, deadshank said:

Yes.  
 

I am. 

It wasn't easy, but I had to tell my butler I was selling of the yachts I provide for him.

[deadshank 24,653]

4 minutes ago, MaybeACoordinator said:

It wasn't easy, but I had to tell my butler I was selling of the yachts I provide for him.

Should have long-term NNN leased it to him.  What’s wrong with you?

[South Austin 52,591]

10 hours ago, JimmyJames said:

Personally. I’m Pissed off the tax bills on my houses In river oaks and highland park have almost doubled. - Surly one percenter. 

Oh like, sure, he went to Harvard.

[Sbbruin 21,867]

17 hours ago, tbone_ said:

House near me sold for $1.75M in August. Just listed again this week for $2.45M.

Obviously a flipper.  1/3 the houses sold in my area are relisted within months after buyer does some work.

[Johnny Sack 8,397]

18 hours ago, JimmyJames said:

That should be a crime. Yet for some strange reason it is not. Wonder why. 

Freedom of contract? 

[tbone_ 14,157]

Obviously a flipper.  1/3 the houses sold in my area are relisted within months after buyer does some work.

Same here. Just haven’t seen that kind of appreciation that quick. Though I pulled up the August listing photos and I don’t think they did any work.

And despite the jokes, this isn’t River Oaks or Highland Park, or even our version Paradise Valley (where Coach Bro’s house is). I mean it’s a nice neighborhood but this was a $700k house 3-4 years ago. One thing that is nice is that in AZ our taxes are only about half a basis point, and valuations lag the market.

But even as a homeowner I worry about where this ends.

[Incredulity 11,683]

2 hours ago, tbone_ said:

But even as a homeowner I worry about where this ends.