Once closed every homes sold price is public knowledge. We all hear real estate is location. Expensive doesn’t matter to FB, Google, etc etc millionaire kids. They want the best and most trendy zip code. House condition doesn’t even matter, they tear down what they don’t like. They want a piece of the available land. No more land, price goes up and up.
Trend of single family home prices dropping hard in "non-hot markets"
- Thread starter GON
- Start date
GON
$100 Site Donor 2024
Utah guarantees its citizens a courtesy that most other states don’t: the right to keep the selling price of a home a secret.
And it’s not alone.
Texas, Alaska, Missouri, Louisiana and Mississippi, in addition to Utah and Idaho, are considered non-disclosure states, potentially costing those states millions of dollars in property taxes and giving players in the real estate market a monopoly on information.
Are you entitled to know what your neighbor paid for his house?
Texas, Alaska, Missouri, Louisiana and Mississippi, in addition to Utah and Idaho, are considered non-disclosure states
www.deseret.com
GON
$100 Site Donor 2024
PB,
Love you man- but you are living with a fantasy of California/ USA in the last century. Glory days.
USA has huge debt and deficit- that changes EVERTHING. Unemployment rate is a worthless statistic. Adult employment participation rate is what is key. Many parts of the USA have an adult employment rate of under 50 percent. Law enforcement is becoming timid in doing what they are paid to do.
Just 20 years ago I did joint paratrooper/ airborne training with my Venezuelan counterparts. Look at that country today. Times change. Not to long ago Venezuelan was often identified as the richest oil producer in South America. Today its citizens are starving.
I can add a handful of developed countries with decent infrastructure and a upper middle income economy that have huge issues today. The center of gravity of all of these issues is governmental debt/ deficits.
Still in disbelief USA can't deliver pickup trucks because it can't get old technology computer chips from Asia. We can't build them here in the USA......... Kindy scary we have that kind of exposure and dependency to Asia. How about parts for military aircraft, defense systems, etc....
I don't have rose colored glasses on. I hope I am wrong, I love the USA, a flawed, imperfect country...... yet the greatest country in the history of mankind. A country where anyone can achieve anything if they want to work for it. That same opportunity is not afforded in most countries. I have worked all over the world, in some of the most well to do countries and some of the poorest countries. All I can say when I return to the USA is how great it is to be back. When a country can't service is debts, pay its entitlements..... things change.
Rose Colored Glasses- John Connlee
But these rose colored glasses
That I'm looking through
Show only the beauty
'Cause they hide all the truth
And they let me hold on to the good times, good lines
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I would bet the tax accessor has access to that information.Utah guarantees its citizens a courtesy that most other states don’t: the right to keep the selling price of a home a secret.
And it’s not alone.
Texas, Alaska, Missouri, Louisiana and Mississippi, in addition to Utah and Idaho, are considered non-disclosure states, potentially costing those states millions of dollars in property taxes and giving players in the real estate market a monopoly on information.
Are you entitled to know what your neighbor paid for his house?
Texas, Alaska, Missouri, Louisiana and Mississippi, in addition to Utah and Idaho, are considered non-disclosure states
Is US too big to fail? Not really if you consider Roman Empire, USSR, Ancient China, Ottoman, and the former Spanish, Brittan, Austrian, Persian, etc all either collapsed or decline into just yet another nation.
Debt is a byproduct usually of war spending, and losing a major war can easily turn a glorious empire into a ruin (Afghan, Iraq, China, Russia, Spain, etc etc). It is very important to keep a balance on it and don't over spend on war and don't over borrow for it, or underspend and underfund it.
USSR spend their way into collapse in military industrial complex, we need to learn a good lesson on that. It is great to have bragging right but supercar is not always the best commuters. You in the former military probably knows that already. At certain point we need to have allies to pay for some of it and letting them have some of the crumbs like making chips is one way to do it. I am not sure if you want to prop up the entire Japan, South Korea, Taiwan, Thailand, Germany, Norway, Canada on our own and keep them poor, it would be far less sustainable than let them develop their own economy and we trade with each other.
Anyways, industrial revolution move things forward and there are things that will go down and go up. Some jobs will be gone forever and you just have to let things go. I always tell young people to look forward to what is coming up instead of following parents' footsteps because often they lead to nowhere. Those tech jobs are spilling over to Utah and Texas as we speak and we are doing trickle down economy like many have been preaching for years. Now there are so many work from home jobs they will trickle down to the poor former manufacturing hubs with no jobs, reviving their old economy (although not all residents there will find new jobs but they can get new people who will prop up economy locally, ya know, trickle down economy as we all believe in).
Things will balance out, people move, towns rebuild and income / cost of living will move till they balance out.
Yes, he does. And where I live in Texas we all have access to all of the property tax assessments.
GON
$100 Site Donor 2024
Something new- price drop in Arizona. Just $13,000 on a $328,000 ... but drops like this were just not happening in "hot markets".
I know thoughts are not peak time for selling a home, etc. I am simply trying to observe potential early trends in single family home prices.
This home has multiple funky things, to include a green bathroom. Many buyers would gut the interior. It does have a larger lot... which can be hard to find in hot markets.
www.zillow.com
I know thoughts are not peak time for selling a home, etc. I am simply trying to observe potential early trends in single family home prices.
This home has multiple funky things, to include a green bathroom. Many buyers would gut the interior. It does have a larger lot... which can be hard to find in hot markets.
2547 Cardinal Dr, Sierra Vista, AZ 85635 | Zillow
2547 Cardinal Dr, Sierra Vista AZ, is a Single Family home that contains 2305 sq ft and was built in 1967.It contains 3 bedrooms and 2.5 bathrooms.This home last sold for $329,500 in December 2022. The Zestimate for this Single Family is $340,600, which has decreased by $1,980 in the last 30...
www.zillow.com
Phoenix must not be a hot market
Most of the 2008 foreclosures were from no money down / adjustable rate loans people could get into a house they couldn't afford and when the banks raised the interest rates the people couldn't afford the payments and had little invested so they walked. I bought a few foreclosed house during that time.
These days with low fixed interest rates most homes monthly payments are too low to just walk away from. .
These days with low fixed interest rates most homes monthly payments are too low to just walk away from. .
GON
$100 Site Donor 2024
Thanks for posting this- interesting observations by the commentator.
One thing the commentator does not mention is what is the center of gravity of Zillow buying the houses in the first place.
One example is Carvana. Caravana would like to make money on the sale of a car, but Carvana's main business is not cars. It is selling bonds loaded with car loans. Carvana selling a car at a loss is not a big deal, as long as it was able to get the loan with the sale of the car.
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