Richie Alan  Naggar, agent & author  (people first...then business Ran Right Realty )

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Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

I have not seen anything like this - ever. Not at these prices with interest rates so low. One home in my area listed at $3M and it sold for $3,950,000.  It was basically a teardown on an 11,000 SF lot. 

Home prices are soaring that is for sure! 

Let's see what happens when we are all paying $7+ gallon for gas and all other taxes are increased.  We will all pay more for goods and services. 

 

 

Apr 30, 2021 08:08 AM
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Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

I don't understand what is going on but it is not an accident. Higher taxes are awaiting us. Higher gas prices so those who are now able to return to work can't afford to drive there. Higher taxes also may mean fewer charitable donations and fewer new hires. 

Apr 30, 2021 01:37 PM
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Anna Banana Kruchten CRS, CRB, Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

It continues to escalate.  Many landlords are putting their homes on the market and realizing a huge ROI.  Another one popped up this morning down the street from us and it's overpriced and out of date (with tenants that don't want to move to boot). And by Monday it will be sold.  It seems crazy to me.  I could go on but you get my point. Up up and away.....who knows when this will end.  No debt is an excellent position to take.

Apr 30, 2021 10:49 AM
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Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

With eviction moratoriums in place and tenants abusing this fact, landlords do NOT rule.

Apr 30, 2021 08:09 AM
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Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

See the same except for the landlords rule. In the city of Chicago, rents are coming down & they are not very hot even in the suburbs. We still have a moritorium in place so it's not a normal change over year. 

A landlord would be lucky to just have the tenant move out of they haven't been paying.

Apr 30, 2021 07:25 AM
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Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Richie, land lord in Los Angeles are having a hard time many tenants are not paying and they can not get rid of them thanks to government restrictions... at least the small landlords are suffering maybe the big corporate ones are thriving... my take is to answer the rest of your question this is a good time to cash out and run and buy other assets... as to if you are swimming in money thanks to the Stock Market then go invest in some real hard assets like real estate because as always things will change on a dime.

May 02, 2021 11:36 PM
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Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

3 trillion dollars for infrasture that contains no infrastructure, 3 Trillion in covide reliefe that purposed a few milling to covid, added to an earlier 4 trillion and the PROMISE of higher taxes obfusctated by 'on coprporation and the wealthy' which of course mean anyone making $40.00 or more a year.

There is a big thieif hiding behind the curtain.  He last appeared in the 80 when interest rates were at 19% and costs of goods at 15%.
INFLATION seem inevitable. But it will be blamed on Covid and Trump and perhaps Tim Scot.
The encouraging element in all of this is we are seeing evidence of NEW MONEY being spent by those rogue, pursue your dreams, folks and 2nd genertion immagrants who walked the path of opportunity not entitlement.

Apr 30, 2021 10:55 AM
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Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

This is true in our market with the exception of landlords.  We have state wide rent control, and although new residential leases are getting top dollar, those that have been in place for some time do not reflect current market rates due to rent control.

Apr 30, 2021 09:33 AM
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Ken Jones, ASA | Broker & Appraiser
Kenneth J. Jones, Inc./Global Valuations - Newark, NJ
Commercial Real Estate Broker & Appraiser

Richie Alan Naggar The problem that underlies the real estate sales industry (and the entire U.S. economy) is that it's being fueled by the printing of valueless paper money.

On top of this, is the fact that the federal government is spending TRILLIONS of dollars the U.S. Treasury does not have resulting in the printing of even more valueless paper being called "money."

Sooner or later, the time will come when the world will realize the U.S. dollar has no underlying support and the entire house of cards is going to collapse like the 1923 Weimar Republic.

I don't know when this whole economy collapse. But, it is going to collapse and it's going to be catastrophic.

Apr 30, 2021 08:08 AM
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Richie,

I am delighted that unemployment is lessening.  One of my friends was hounded by an agent to sell.  Finally my friend asked the agent, would you sell now?  The agent answered, NO...For some it may be a good thing, but for others NO!  A

Apr 30, 2021 08:01 AM
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Alexander- Slocum
Premiere Property Group, LLC - Vancouver Washington - Vancouver, WA
Realty Team- Vancouver WA Real Estate

But to be sure the BIG ELEPHANT is dancing!!! Maybe Wall Street isn't snapping up Mortgage Backed Securities but the Federal Reserve has purchased nearly $1T worth in the past year

ref: https://fred.stlouisfed.org/series/WSHOMCB

In fact, prior to 2009'ish the Fed did not own any MBS. From their own chart it is clear they had a Heavy Hand in the "Recovery" starting on 2012, as they kept purchasing and holding MBS; and they have a Heavier Hand currently.

In sum, Interest Rates for Real Estate related loans are Low because the Fed is gobbling up the MBS.

Why are they doing this - purchasing the huge quantities of MBS? Who owns the Fed? (hint: it is not We the People)

May 03, 2021 07:56 AM
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Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Demand for housing will continue as long as folks want a place to live and building of new homes continues to lag behind the demand.

Not a great world for landlords though, far too many people demanding govt interference at the expense of landlords.

May 01, 2021 12:46 PM
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Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
Carolina Life RealEstate & Relocation 919-602-8489

I haven't seen anything like this. Homeowners are somewhat stunned. This is one of those markets people will wish they had gotten in on. Some are just afraid because of the recession. If you think about it, the recession helped cause some of this pent up demand.

May 01, 2021 03:38 AM