Great point at circa 10mins- You cant low ball a house that everyone wants/ that has just been listed. Well you can, it's just very unlikely to lead to a deal.
Love the neighborhood tracker! Sucks that I want to buy in Westhaven where there isn’t distress but at least I have data on only the houses I actually care about. Your software is the best in the business.
Ethan, You stated most people were thinking that the more available inventory would result in lower prices. However, you advised this is not the case in the Nashville area, and single family homes are still about $500K with over three months of supply. Do you think buyers who are not interest rate sensitive are purchasing $700K+ homes is what is keeping the average up? I appreciate your weekly videos and Happy New Year!
Ethan: Very solid analysis. It reinforces the fact that the market is highly fragmented, and the "county level" analysis is much too broad and diversified to provide any meaningful information to a buyer or seller. One really has to take the analysis down to the census tract level to really understand what is happening at any given point in time.
Hello! And yes you can lowball the seller. Just don' buy the house. There are several homes in the william county that have been waiting for months. They ate noce houses but way over priced.
It could drag it down a little. I don’t really care about a few percentage points on price either way. It’s the number of transactions. Existing home transactions is the ONLY thing that matters to those of us trying to make a living.
Stay liquid. The economy since the summer/fall of 2020 has been horribly distorted with the money illusion. We have been living far beyond our means. Leverage cuts both ways. 😢
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Great point at circa 10mins- You cant low ball a house that everyone wants/ that has just been listed. Well you can, it's just very unlikely to lead to a deal.
Love the neighborhood tracker! Sucks that I want to buy in Westhaven where there isn’t distress but at least I have data on only the houses I actually care about. Your software is the best in the business.
Ethan,
You stated most people were thinking that the more available inventory would result in lower prices. However, you advised this is not the case in the Nashville area, and single family homes are still about $500K with over three months of supply. Do you think buyers who are not interest rate sensitive are purchasing $700K+ homes is what is keeping the average up? I appreciate your weekly videos and Happy New Year!
Ethan: Very solid analysis. It reinforces the fact that the market is highly fragmented, and the "county level" analysis is much too broad and diversified to provide any meaningful information to a buyer or seller. One really has to take the analysis down to the census tract level to really understand what is happening at any given point in time.
Hello! And yes you can lowball the seller. Just don' buy the house. There are several homes in the william county that have been waiting for months. They ate noce houses but way over priced.
It could drag it down a little. I don’t really care about a few percentage points on price either way. It’s the number of transactions. Existing home transactions is the ONLY thing that matters to those of us trying to make a living.
Beginning to think we will be renters for a long time. It makes no sense to buy when the same house is cheaper to rent.
Hi Ethan: I know you only do Nashville area but any update on Cookeville and Putnam County?
Stay liquid. The economy since the summer/fall of 2020 has been horribly distorted with the money illusion. We have been living far beyond our means. Leverage cuts both ways. 😢
I hope your right I’ve passed on so many deals in Antioch cause I just couldn’t digest the prices on housing.