Real Estate market now?

[El Capitan]

Gotta wonder what the smart money does right now?

Rates down haven’t inflated RE values, but will impending high unemployment may flood market w inventory? If that’s the case would that signal the perfect storm for buyers?

And if you have to sell yours to buy another’s... how do you swing that?

Id like to sell the land yacht and move south into a dinghy.

Only in this way can I get what I’m really after...the 390.

So far the admiral hasn’t figured my insanity out. Fingers crossed.

 

[The Bill Collector]

My son had put down earnest money 2 weeks ago for a house purchase and today they found something in the inspection report and used it to run away and get their $$ back...

 

[hottoddie]

Was ready to put mine on the market this spring but am going to wait a few weeks to see of the crisis passes. If most are back to work, the stock recovers somewhat and interest stay low the RE market should hold strong in most areas. There will be more bottom feeders than usual. I won't sell to a bottom feeder, I'll stay put.

 

[El Capitan]

I think I’m gonna list and move into a rental till it sells then buy.

Can’t recall how I purchased this home while still living and selling my last house. Senility definitely creeping in.

 

[dwna1a]

We prep homes for sale, 8 have canceled, 10 are now on hold another 12 have pulled theirs off the listings. So you tell me, what do you think is going to happen? Rentals will be in demand, landlords will be unable to evict due to new rules.

 

[The Bill Collector]

Our economy is supply and demand... As demand drops, supply will increase and prices will drop...

 

[JVM225]

Low interest rates will be around for a while.
Home prices will likely drop a bit in the near future. Less showings, less shoppers right now and economic slowdown through the end of the year will all contribute to lower prices.

 

[chuck1]

Going to get interesting. There has been way too many zero down and 3% down loans in the last few years. I'm afraid many are just going to walk away from them. Guess who is going to end up paying for it?

 

[El Capitan]

We’re listing end of Spring. I’ve called on a few houses for sale and was shocked that several were under contract.

If you’re not a blue collar worker and your industry can function w minimal disruption then this market will offer opportunities to buy at unique values.

 

[El Capitan]

Just learned GM offering 0% interest for up to 84 months $0 down. Lots of boys gonna be buying new pickup trucks!

 

[Gofirstclass]

Just learned GM offering 0% interest for up to 84 months $0 down. Lots of boys gonna be buying new pickup trucks!

Can you imagine what position they'll be in when they try to sell it in 3 or 4 years and find out they're thousands of dollars upside down on their loan..

 

[DWABoat]

Can you imagine what position they'll be in when they try to sell it in 3 or 4 years and find out they're thousands of dollars upside down on their loan..

If you are a ten+year truck keeper like me, what a great deal, as long as you have the income stream to service the debt. Unfortunately, I just bought a 2019 hold-over in January. Oh well.

 

[El Capitan]

I’m one of those keep it till the wheels fall off... then buy new wheels kind of person.

My truck is a 2000, got 203,xxx mi.
My SR is a 1970.
My Harley is a 1971.
My Bimmer 1992, had 290,xxx when the tranny gave and I donated it.

If I felt these new fangled plastic vehicles were worth the $40k-$50k I’d prolly pull the trigger but I don’t think the new stuff will last as long as I like to keep.

 

[Gofirstclass]

I'm with you Capitan. Our newest vehicle is a 2015 which I paid cash for. Oldest two are a 2005 and a 1998. Boats are a 1995 and a 1981.

I don't think I'd ever buy a new design boat. The designs stink and the interiors look like an inner city apartment. All plastic and stainless. Not for me.

 

[Great lakes pirate]

Can you imagine what position they'll be in when they try to sell it in 3 or 4 years and find out they're thousands of dollars upside down on their loan..

Let's say you buy a 2020 $50,000 Silverado. 84 payments at $595.23. After 4 years you have paid $28,571.43 of the 50k leaving a balance of $21,428.57. I think you could sell that truck for about 25k, so in all reality you wouldn't be upside down.

 

[El Capitan]

Yeas but how did you calculate your depreciation?
Depreciation is typically amortized over 5 years.
Based on 20% annual depreciation average ( because in reality it’s not linear) that truck will be worth $10k-$15k after 4 years use assuming its in good condition.

That’s over $10k of negative equity.

 

[Great lakes pirate]

Yeas but how did you calculate your depreciation?
Depreciation is typically amortized over 5 years.
Based on 20% annual depreciation average ( because in reality it’s not linear) that truck will be worth $10k-$15k after 4 years use assuming its in good condition.

That’s over $10k of negative equity.

Captain. The truck will be worth about 25k after 4 years if it is kept in good condition and has about 50,000 miles on the odometer. Been buying and selling Silverados for about 15 years.

 

[El Capitan]

Captain. The truck will be worth about 25k after 4 years if it is kept in good condition and has about 50,000 miles on the odometer. Been buying and selling Silverados for about 15 years.

What is your opinion on Silverado vs the F150’s w ecoboost engines?

Im a Ford dude but I hate the EB concept and the Godzilla is out of my price range.

 

[Woody]

Just learned GM offering 0% interest for up to 84 months $0 down. Lots of boys gonna be buying new pickup trucks!

I just bought a new GMC early this week. At the time the 0% interest deal had a hitch. You would lose the dealer incentive. I'll bet that will change real quick, maybe it has already.

 

[Great lakes pirate]

Not a fan of the small turbo engines in trucks. Buddy of mine pulled a big ol go fast with the small Ford engine and said it performed great. My 2020 Silverado has a 5.3L with a 10 speed transmission. It gets pretty decent mileage and is really fun to drive. I'd rather get the higher mileage from gears than reduced displacement.