I realize that this is an odd topic but it is a topic that interests me (maybe I am the only one ).

Here in Utah, it is certainly a sellers market to say the least. Many houses are
under contract within days of the initial listing. We have been looking for a house and found one that had
just came on the market. We were looking at it withing hours of listing and made an offer that same day.

Fortunately, our offer was accepted. Our realtor said that the house had "multiple offers". This all happened within
a time frame of 3 days!

I realize that there could be a housing crash. However, I am not seeing it happening in the immediate future.

How is your housing market? I wonder how the market is for our members that live outside the U.S. In the past few years,
I'd guesstimate that values have risen 25-50%???

Denver is very hot... $300 to $500 per square foot. Closer to town, the higher it goes. Hope it lasts.

[QUOTE]Originally posted by Jason P:


Here in Utah, it is certainly a buyers market to say the least. Many houses are
under contract within days of the initial listing Our realtor said that the house had "multiple offers".


Jason. I believe you mean to say it’s a “Sellers” market. More demand than supply. A “Buyers” market is over supply and thus the prices are lower.
Residential real estate markets historically run in 10 year cycles. Many areas in the western US , Texas and Florida are seeing major growth. Luxury real estate in California and NYC are seeing a decline. It all depends where you want to live ,all markets are on a individual basis, no general consensus.

The North Dallas housing market has cooled-off somewhat. Houses had been going ABOVE asking price a year or so ago. Not right now.

There is a lot of new building still and the economy is still good. Plenty of jobs available if a person is willing to work.

Rental prices are not escalating.

Here we exist on an oil, based economy. The political situation has destroyed that. Unemployment is steep and housing is basically a buyers market.

Grizz

Las Cruces and El Paso are doing fine financially, but we have a really soft housing economy.

Houses aren't worth much.

We have an aging population of baby boomers that winters here and quite a few live here year round.

we have houses for sale around town.
the one across the street from me sat empty for about 2-1/2 years.

the city tax spenders keep saying we need more houses.
the citizens like it the way it is and are getting pissed at all their spending attempting to add more citizens.
mostly the ones that have to drive a truck down their pot hole ridden street because their car got high centered the last time they tried taking it somewhere.

4wd:

Thanks for the correction.

Lamar: I like the area up where you live. It seems that the prices up your way are reasonable.

Our housing in Northern Utah, for the most part, is fairly stable. Even during the recession, the prices held pretty good.

Colorado Springs market is very good for sellers at this time. New houses in the $250-500,000 range popping up every where

Same thing here in Delaware, but as with everyplace else, it's LOCATION, LOCATION, LOCATION.

Properties in shitty neighborhoods or locations will sit for months.. Properties in a good location, good neighborhood, away from large apartment complexes and public transportation are usually gone withing a week.

And of course, priced right. Unless the buyer has a big chunk of cash to put down, it will still need to pass an appraisal in order to qualify for a mortgage... and from what i have been hearing, appraisals of late have been on the more conservative side.

It's going strong in the Central Texas area (Travis + Williamson counties). My son is selling one of his houses on a 1-acre tract for $200K. Just a 1-acre tract w/ no house is going for $44K now.12 years ago it was $7K an acre. The paper said that 129 people a day are moving into Austin alone; out here in the country, it's even worse. And all along the highway subdivs are going in like wildfire with signs saying "starting at the $500s". Who makes that kind of money for the house payments?

If you want a small winter place it is a buyers market in Yuma.

Places all over the area for sale.

I read today that Las Vegas housing market prices are the highest they've been since just before the financial bust of 2008. Not sure how true it is, as I have not paid that much attention to it. Utah's problem is that they have had all of these Silicon Slopes folks moving in for jobs and needing housing and causing the rest of the population to pay top price for a house. It's been going on up there for a number of years. Sad to see all of that green belt and outdoor/hunting activities now disappearing in the Utah and Salt Lake Valleys. And, then you add the Park City influence and factor into the mix. . . .

Stay away from the area north of here, primarily in the Stephenville, Dublin area. There is no industry except farming + ranching, which is good but since everyone has an ag exemption there is not enough money coming into the city + county coffers so the local LEO are finding ANY excuse to pass out tickets for the revenue. I have a friend up there that builds steel buildings, horse barns, + arenas + he is constantly getting stopped + ticketed because they know if you're a welder then you have money. And every time the charges have been bogus. I.E.: If you are in a business/ working truck then you need a commercial license, etc. And if you are just passing through, watch your speed. You should anyway but they are making a killing on it.

There's a shortage of inventory in the Jacksonville, FL area, so properties priced right sell fairly quickly.

There are areas of town that don't sell so fast, mostly due to the lower price points and buyers' inability to qualify for mortgages.

Certain areas of town are typically avoided by higher-end buyers because of crime. I swear, there's at least 2-3 shootings and one death from gunshot daily here. But of course the higher priced homes aren't usually in those areas, anyway.

On the other hand, million dollar + homes on the St. Johns River and Atlantic coast sell very slowly, not a big surprise.

In central Ca., a house in town will sell fast. If you have any land it sells slow or won't sell for what you want to get out of it.
4 acres and 2000 sf is worth $550,000 - $750,000.