Definitely not just Wyoming. TN is busting at the seams with people. I sold a house in 2018 in 4 hours. Now, it was reasonably priced and in a desirable area of the Smokies. Still, I had four offers in 4 hours and two of those offers were cash and over list price. It’s still that way here, only it’s increased. We’re listing in the spring and heading to WY to start scouting places. Don’t worry, I’m only bringing my conservative views and guns. Please don’t hate me.
The housing market wouldn't crash while people are just getting into the higher price, higher interest, and higher payments. If you can't come up with 20% down then you have to also pay for the insurance. Rising prices makes it harder for some people to come up with the 20% down. It will take people time to get into financial trouble. Especially with the rising cost of living. Black Rock is buying up properties and sometimes entire communities. Black Rock bids over the asking price making it harder for the average person to compete. Before the pan, we were looking at Alpine. We would watch properties advertised, sold quick and then put back on the market as a rental before it was done pending for the sale online. The rental price was more than if someone would have bought it. As Black Rock makes everyone into renters, they are going to hammer people with higher rental prices that people can't afford. I am seeing a lot of properties that were purchased 2 to 4 years ago being sold for hugely inflated prices now. A little 1 bedroom cottage sold for $63k two years ago now has an asking price of $279k. The crash will come for the person that decides to buy the cottage for $279k with a higher interest rate when they later can't afford it. Then they won't be able to sell it later for more because they bought it for such a high price for that kind of property in that specific area. A moldy shack with water dripping down through it's roof onto the cook stove has an asking price of $165k and someone from NY, NJ or Philly will probably buy it in the spring, tear it down and rebuild on the lot. Realtors are also contributing to the disaster by helping the seller shoot for the stars with pricing. A 2 bedroom very plain lake front house is advertised for $590k in an area where the price would normally be more around $300k. The realtors probably love the price increases because they make more on their percentage. But it's killing the community because the local people can't afford the housing while working for local wages. The higher prices just attract people from outside the area to be seasonal occupants. Seasonal occupants do not contribute to the community through purchases all year. They are only there for around 3 months and then the property stands empty.
I still am. Just know you might possibly have a bunch you miss out on. I give you the info as it comes and changes. I'm by no means saying what they are paying is right. I'm an investor though and I am looking for deals.
Don't Jackson Hole my Sundance, doggonit! - a popular saying in NE Wyoming.
In the meantime, Rawlins is like... "Hey we'll take anyone"
Definitely not just Wyoming. TN is busting at the seams with people. I sold a house in 2018 in 4 hours. Now, it was reasonably priced and in a desirable area of the Smokies. Still, I had four offers in 4 hours and two of those offers were cash and over list price. It’s still that way here, only it’s increased. We’re listing in the spring and heading to WY to start scouting places. Don’t worry, I’m only bringing my conservative views and guns. Please don’t hate me.
We're looking at land to buy in either New Mexico, Colorado and Wyoming. Landio is a good channel here on RUclips.
I'm not a landio fan. I do not feel it paints an acurate picture. Tread with caution
The housing market wouldn't crash while people are just getting into the higher price, higher interest, and higher payments. If you can't come up with 20% down then you have to also pay for the insurance. Rising prices makes it harder for some people to come up with the 20% down. It will take people time to get into financial trouble. Especially with the rising cost of living. Black Rock is buying up properties and sometimes entire communities. Black Rock bids over the asking price making it harder for the average person to compete. Before the pan, we were looking at Alpine. We would watch properties advertised, sold quick and then put back on the market as a rental before it was done pending for the sale online. The rental price was more than if someone would have bought it. As Black Rock makes everyone into renters, they are going to hammer people with higher rental prices that people can't afford. I am seeing a lot of properties that were purchased 2 to 4 years ago being sold for hugely inflated prices now. A little 1 bedroom cottage sold for $63k two years ago now has an asking price of $279k. The crash will come for the person that decides to buy the cottage for $279k with a higher interest rate when they later can't afford it. Then they won't be able to sell it later for more because they bought it for such a high price for that kind of property in that specific area. A moldy shack with water dripping down through it's roof onto the cook stove has an asking price of $165k and someone from NY, NJ or Philly will probably buy it in the spring, tear it down and rebuild on the lot. Realtors are also contributing to the disaster by helping the seller shoot for the stars with pricing. A 2 bedroom very plain lake front house is advertised for $590k in an area where the price would normally be more around $300k. The realtors probably love the price increases because they make more on their percentage. But it's killing the community because the local people can't afford the housing while working for local wages. The higher prices just attract people from outside the area to be seasonal occupants. Seasonal occupants do not contribute to the community through purchases all year. They are only there for around 3 months and then the property stands empty.
Should do a video on the majority Usa population going Into retirement then dying
This will cause deflation
Thanks for the video.
Welcome. Just trying to share data I am getting that isn't private. I love when viewers win
Going out of thread: can we see you without your cap? 🙏😊
We paid 7.19 interest on our first home when I was left the army
In 2002
Did you see the new listing in Powell? Over 12 acres, 2800 sq/ft etc.. listed at $595K, with a Zillow estimate of $1.7 million!
Yeah, it's not 1.7, lol, that's why Zillow went bust ibuying. Also note, no inside photos...
Yeah, it said more photos to come. Property taxes seemed high for Powell.
Property taxes across all my properties in Park County went up an average of 37% this year
Good commentary
Thank you
Sooo...don't make a disrespectful offer then?
I still am. Just know you might possibly have a bunch you miss out on. I give you the info as it comes and changes. I'm by no means saying what they are paying is right. I'm an investor though and I am looking for deals.