Zillow to stop flipping homes; Losing more than $550 million

Housing Bubble Over

  • Yes

    Votes: 1 5.9%
  • No

    Votes: 11 64.7%
  • Zillow Lying

    Votes: 5 29.4%

  • Total voters
    17
1,468
1,098
Joined
Jun 12, 2006
Which brings me to the point of why the market wont crash. I just mentioned that I was gonna sit on the sidelines with cash and ready to pounce when the market crashes. Guess who else is doing that? Every one. To this day I know 3-4 friends that are in the market for homes and they keep half stepping because they think the market is gonna crash. Well it's been 5-6 years already and it still didn't crash and prices keep getting higher and higher.

What ppl don't realize is that there are a lot of folks out there stacking right now. People are saving like crazy. Especially those that telework because they don't have a fuel bill, ppl that sold their cars because of that, ppl not going on vacays due to the pandemic, all the stimulus stuff, bonuses, tax returns, crypto, stocks, just saving in general, etc... So even if the market drops, you're gonna have a new breed of vultures trying to buy those same exact houses that the same losing bidders that are still in the market and keep getting outbid. It's pretty crazy tbh.

EDIT: Even if the market does crash, you don't think existing homebuyers wouldn't cop another property or two at a sale price? I know I would for damn sure.

EDIT 2: Prior to the pandemic my neighbor with a 3 bd 2 ba sold for 625k. I was mad jelly and wanted to cash out then. Was on the verge of putting it on sale and was even going to sell it to a buddy of mine I mentioned above that is a half stepper in the market, I have a 2 bd 1 ba so I was like bruh i'll hook you up for 550k, he said he'll think about it because the market is bound to crash. Then the pandemic hit which caused us to take a step back and stay put in our house due to several reasons. Fast forward to last month, I sold my house for 705k. My buddy that I was gonna hook up for 550k was definitely kicking himself. My house sold for more than my neighbor's house with the same layout but with 1 extra bd and 1 extra ba that he sold a year prior for 625k.
 
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29,999
24,776
Joined
Feb 5, 2013
Yoooooo. I've been scoping the Real Estate thread and I was almost certain to a point that you bought my house. Apparently it was just a coincidence. I say that because you posted you got an offer accepted on the same day I accepted an offer. And it was in Lakewood. Then your final walk through was on the same day of my final walk through, but in the end I suppose it wasn't due to other stuff you mentioned.

I got 30k over asking and was honestly gonna sit on the sidelines with cash waiting for the market to crash, but my wife fell in love with this forever home that she wanted so we ended up buying again by the CSULB area. It worked out, but I ended up having to live in a hotel for about 3 weeks until my new purchase closed.
thats dope, love the tree lined areas near there

i had a looked into a home in carson where the sale was contingent on the sellers given time to find a new home after accepting the offer
it was a growing family that needed a bigger place.
offered 15k over listing...it sold for 40k over list

shoot me your info dunks318ti dunks318ti , maybe in a couple years you can hook me if you decide to move again haha
 
1,468
1,098
Joined
Jun 12, 2006
thats dope, love the tree lined areas near there

i had a looked into a home in carson where the sale was contingent on the sellers given time to find a new home after accepting the offer
it was a growing family that needed a bigger place.
offered 15k over listing...it sold for 40k over list

shoot me your info dunks318ti dunks318ti , maybe in a couple years you can hook me if you decide to move again haha


Yeah. The crazy thing is we wanted this one nice place with a huge backyard and pool and it was listed at 725k. We wanted to put an offer on it and it just so happen that my real estate agent knew and used to work with that selling agent. He called him and the selling agent said they got offers over 800k already and to not bother. Crazy. 75k over asking. It sold shortly after that conversation too. unreal.
 
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