Real Estate

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RTH10260
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Real Estate

#1

Post by RTH10260 »



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AndyinPA
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Re: Real Estate

#2

Post by AndyinPA »

Interesting. It must be a part of their business because I've known others who have sold and purchased their homes through Zillow without that.


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Hoffymawn
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Re: Real Estate

#3

Post by Hoffymawn »

Yes, it's a pretty strange approach to selling houses. I don't think that this house is worth a lot of money, there isn't even a second floor. I saw a couple of houses from them when I was going to buy a property, and the prices didn't match what I saw. After that, I started looking for properties at warmer places and stopped at playarealestategroup.com because these views pleased me. I always wanted to live closer to the ocean and not feel sad when the cold weather comes, so living in a warm place is just heaven for me. And I haven't regretted it one bit because I've been left thrilled with the atmosphere.


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neonzx
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Re: Real Estate

#4

Post by neonzx »

Hoffymawn wrote: Fri Jan 21, 2022 4:28 am Yes, it's a pretty strange approach to selling houses. I don't think that this house is worth a lot of money, there isn't even a second floor.
The Florida housing market is very volatile so this is not unsurprising at all. That's why I am liquidating and leaving.


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pipistrelle
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Re: Real Estate

#5

Post by pipistrelle »

Hoffymawn wrote: Fri Jan 21, 2022 4:28 am Yes, it's a pretty strange approach to selling houses. I don't think that this house is worth a lot of money, there isn't even a second floor.
That’s a positive for an older demographic.


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neonzx
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Re: Real Estate

#6

Post by neonzx »

pipistrelle wrote: Fri Jan 21, 2022 5:50 am
Hoffymawn wrote: Fri Jan 21, 2022 4:28 am Yes, it's a pretty strange approach to selling houses. I don't think that this house is worth a lot of money, there isn't even a second floor.
That’s a positive for an older demographic.
Very true -- and common for elders to seek a floor plan with a first floor master BR (and if a 2nd floor for kids and grand kids when they come for a visit).


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Re: Real Estate

#7

Post by Foggy »

neonzx wrote: Fri Jan 21, 2022 5:14 am The Florida housing market is very volatile so this is not unsurprising at all. That's why I am liquidating and leaving.
SRSLY?

Where are you going next?

:whisper: I know a guy, calls himself the Mighty Spork, he's an expert on planning to go places.


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neonzx
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Re: Real Estate

#8

Post by neonzx »

Foggy wrote: Fri Jan 21, 2022 8:31 am
neonzx wrote: Fri Jan 21, 2022 5:14 am The Florida housing market is very volatile so this is not unsurprising at all. That's why I am liquidating and leaving.
SRSLY?

Where are you going next?

:whisper: I know a guy, calls himself the Mighty Spork, he's an expert on planning to go places.
I think I will take a pass on the wisdom of the Mighty Spork. Looking to New Mexico. realist may have some advice...


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Re: Real Estate

#9

Post by Foggy »

I don't think I could live in New Mexico, too far from any oceans. I'm a beach rat at heart, I'm living 2 hours drive time from the beach here, and it's too far but I do manage to get a lot of beach time every summer. From New Mexico I'd have to fly, rent a hotel room, yadda yadda.

If I was on my own, I'd live within a mile of a beach somewhere. If you get much closer, the salt air is brutal on your car finish. :batting:


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AndyinPA
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Re: Real Estate

#10

Post by AndyinPA »

neonzx wrote: Fri Jan 21, 2022 9:03 am
Foggy wrote: Fri Jan 21, 2022 8:31 am
neonzx wrote: Fri Jan 21, 2022 5:14 am The Florida housing market is very volatile so this is not unsurprising at all. That's why I am liquidating and leaving.
SRSLY?

Where are you going next?

:whisper: I know a guy, calls himself the Mighty Spork, he's an expert on planning to go places.
I think I will take a pass on the wisdom of the Mighty Spork. Looking to New Mexico. realist may have some advice...
Some of our best friends live in New Mexico. It's a lovely state. My friend absolutely fell in love with it the moment she stepped off the plane. Her husband was still a Colonel in the Army at the time and assigned to Los Alamos, so they had no say, but he retired within a few years, and they stayed. It has its problems, too, but nowhere near Florida.


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Re: Real Estate

#11

Post by Volkonski »

Foggy wrote: Fri Jan 21, 2022 11:48 am I don't think I could live in New Mexico, too far from any oceans. I'm a beach rat at heart, I'm living 2 hours drive time from the beach here, and it's too far but I do manage to get a lot of beach time every summer. From New Mexico I'd have to fly, rent a hotel room, yadda yadda.

If I was on my own, I'd live within a mile of a beach somewhere. If you get much closer, the salt air is brutal on your car finish. :batting:
And the storm surges can be brutal on your house which is why I now live hundreds of miles from the nearest beach.


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Re: Real Estate

#12

Post by Foggy »

Yes, I told ol' Wifehorn, if we stay in NC, it would be nice to move closer to the beach, BUT we need to find a place at least 50 feet above sea level, so we can maybe leave the property to our children. :thumbsup:


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Danraft
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Re: Real Estate

#13

Post by Danraft »

So, question...
If the business real estate market (I'm trying to refer to commercial office space) starts to lose large amounts of value because of virtual work spaces (accelerated by the Covid lockdowns), would have potential to affect other real estate markets?


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Re: Real Estate

#14

Post by Phoenix520 »

I want a house at the top of a cliff overlooking the ocean. Carmel would be nice. :batting:


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Re: Real Estate

#15

Post by Foggy »

Umm ... cliffs in SoCal have a nasty habit of sliding into the ocean. Better fill up the cliff with rebar before you put a house on it, my love.


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Re: Real Estate

#16

Post by Phoenix520 »

Bedrock, baby.


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Re: Real Estate

#17

Post by Foggy »

:like:


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Re: Real Estate

#18

Post by raison de arizona »

“This is predatory capitalism and it is totally without a conscience.”
California investor buys Tucson seniors complex, raises rents by 50%

Self-styled wealth guru Kevin Easterly of San Diego would be breaking the law in his home state if he bought an apartment building and imposed a huge rent hike on tenants.

But it’s perfectly legal in Tucson, where he and his partners have been playing a sort of real-life Monopoly game: buying and repainting aging apartment buildings, and raising rents 50% or more to boost the property’s value and refinance for more than they paid, public records and Easterly’s social media posts show.
:snippity:
“An older person may have less of a chance to recover from something like this. A younger person might have the ability to go out and earn some more money,” he said.

Flipping senior citizen apartments “may be legal, but it’s certainly not moral,” he said.
:snippity:
Even so, he now co-owns four Tucson apartment complexes with nearly 160 units between them, all purchased in less than five years through four limited liability companies he registered in Arizona. In each case, he used a system he described in the apartment-flipping video as “rehab, kick the tenants out and raise the rents.”
:snippity:
https://tucson.com/news/local/californi ... 2ba69.html


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bob
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Re: Real Estate

#19

Post by bob »

Danraft wrote: Fri Jan 21, 2022 12:44 pmIf the business real estate market (I'm trying to refer to commercial office space) starts to lose large amounts of value because of virtual work spaces (accelerated by the Covid lockdowns), would have potential to affect other real estate markets?
The short answer is: not really.

Empty offices means fewer workers, which mean less foot traffic for lunch spots, etc. So empty office space may affect the value of nearby commercial properties reliant on foot traffic.

As for the office space themselves, they're a rather inelastic good. In other words, what's their other use?

There will always be some demand for office space, so (for example) government entities might see the value in a long-term lease versus buying and developing their own spaces.

Some cities have been looking at emergency conversions, e.g., retooling unused office space into temporary shelters for the homeless. But that hasn't caught on, and probably never will.


In the more macro sense, if remote work becomes more prevalent, workers will move to places that are cheaper. Which will increase housing prices in those markets.


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Re: Real Estate

#20

Post by Maybenaut »

bob wrote: Mon Jan 24, 2022 6:10 pm
Danraft wrote: Fri Jan 21, 2022 12:44 pmIf the business real estate market (I'm trying to refer to commercial office space) starts to lose large amounts of value because of virtual work spaces (accelerated by the Covid lockdowns), would have potential to affect other real estate markets?
The short answer is: not really.

Empty offices means fewer workers, which mean less foot traffic for lunch spots, etc. So empty office space may affect the value of nearby commercial properties reliant on foot traffic.

As for the office space themselves, they're a rather inelastic good. In other words, what's their other use?

There will always be some demand for office space, so (for example) government entities might see the value in a long-term lease versus buying and developing their own spaces.

Some cities have been looking at emergency conversions, e.g., retooling unused office space into temporary shelters for the homeless. But that hasn't caught on, and probably never will.


In the more macro sense, if remote work becomes more prevalent, workers will move to places that are cheaper. Which will increase housing prices in those markets.
That’s what we’re seeing out here. And it’s making (some of) the locals very unhappy because they’re being priced out of their own market. Plus, this is a fairly insular community; it doesn’t want outsiders coming in with their outside money unless they plan to spend it here and then leave.


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Re: Real Estate

#21

Post by raison de arizona »



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Re: Real Estate

#22

Post by raison de arizona »

I don't know how reliable tankie lifter (@NeilNasty7) is, but interesting if true. Inventory in Phx remains at about 1/3 or where it needs to be for demand, and median price continues to climb to astronomically new levels on a monthly basis.

Confirmation?


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Re: Real Estate

#23

Post by Kriselda Gray »

Why would they be getting rid of mortgage processors? As I mentioned in another thread, I'm not terribly knowledgeable about the housing market, so I don't know what layoffs of that nature portend.

Thanks!


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tek
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Re: Real Estate

#24

Post by tek »

May not have anything to do with the market at large; might be an internal issue (like refocusing etc)


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Re: Real Estate

#25

Post by northland10 »

Reducing operating margins is currently more important than increasing profits so that could be a reason.


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