HOT - WARM - COLD WHERE'S YOUR MARKET?

124 Replies

Here in Orange County, CA we are in the middle of a sellers market, with sales at the highest level in 9 years. Inventory is down, prices are up. There's also been an uptick in new jobs with many companies hiring, which wasn't expected. 

What is the real estate market like in your area? 

Hot - Warm - Cold?

Medium house plansKaren Margrave, Parlay Investments | [email protected] | http://www.parlayinvestments.com | CA Contractor # 680782

Northeast Florida here.  Certain zip codes are red hot.  Others not so much.  Prices are not back to mania (06-07) levels anywhere but are getting close in the hottest areas.

Orlando is almost the same as Orange County, CA. There is still a huge inventory of foreclosure but the amount of investors that have come has raised prices back up. Jobs and tourism is at an all time high. Here is article about the current Orlando market that was publish just last week by Bloomberg Business:

http://www.bloomberg.com/news/articles/2015-04-09/harry-potter-magic-helps-orlando-foreclosure-glut-vanish

Depends on sub-market.  What was hot in 2006 is hotter today.  The B and C sub-markets are increasing in price, but they are no where near where they were 9 years ago.  

Medium web logoEric Odum, Florida Investment Real Estate | 813.514.1070 | http://www.investfloridashow.com

@Karen Margrave

  Portlandia inner city regentrification is super hot. suburbs are good to great,, rural still slow but steady demand.

I see a trend in the mid western towns of regentrification in all major markets... as hipsters want to move back from the burbs and they want to walk to their favorite hangouts or bike.

Medium ksqoekox 400x400Jay Hinrichs, TurnKey-Reviews.com | Podcast Guest on Show #222

@Karen Margrave

Much of eastern Canada has been running hot for so long, folks are complacently thinking it is normal ... places like Toronto, Vancouver, Calgary & (to a lesser extend) Edmonton have been on the molten rock side of hot for almost as long.

In amongst all that, there are cities and, more often, small towns and rural areas whose local economies are unwell or have collapsed where there is growing inventory which comes with lots of risk.

There was hope at the start of the year that things were beginning to relent a little, then the BoC lowered interest rates - mere weeks after hinting they were on their way up - which may be breathing another dance into the local market.

Medium greenapartmenthires 1024x1024Roy N., Louer Louer Ltd. | 1.506.471.4126

vancouver BC is on Fire right now!!

We are bidding on houses with 10-20offers. The norm is to bid well over asking and most offers are unconditional.

Red hot and won't stop in the near future 

Medium pnj logo  preview  less whitePawan J., PNJ Property Group | 7789190519 | http://www.pnjpropertygroup.com

As I posted a couple of days ago, Atlanta is ground zero for institutional investors, so anything that they are interested in buying goes super quickly at or close to retail.  What little I know about the ITP (inside the perimeter, I-285) the upper middle class areas are doing well.

SF and Bay Area is expectedly in smelting territory.

Denver Metro. On fire. Hard to find anything with such low inventory. Have to wait in line for an open house ha.

Originally posted by @Jay Hinrichs :

@Karen Margrave

  Portlandia inner city regentrification is super hot. suburbs are good to great,, rural still slow but steady demand.

I see a trend in the mid western towns of regentrification in all major markets... as hipsters want to move back from the burbs and they want to walk to their favorite hangouts or bike.

 Yes.   Indianapolis wants to be just like Portland.   Were getting there...   

Very hot!   

317‑965‑8708 | http://fshouses.com | IN Agent # 34119

Originally posted by @Seth Todd :

Denver Metro. On fire. Hard to find anything with such low inventory. Have to wait in line for an open house ha.

 Hi Seth,

You may think you're being funny, but about a month ago I went to an open house in Thornton where the agent was late - car trouble or something.  The number of people parked outside and/or pacing on the sidewalk was pretty significant.  As soon as the house was open, it was like a herd of people going through.  I waited a bit for the crowd to die down, but more people just kept coming.  I finally went in and rubbed elbows with the rest of them, but it was really annoying to be unable to look at the house in the way I really wanted to.

Medium cluebussol logo3inLinda Weygant CPA, Clue Business Services, Inc. | [email protected] | Podcast Guest on Show #244

@Seth Todd

  what is creating your housing shortage ... lack of lots to build on... builders can't keep up with demand ?  arbitrary growth boundries like Portland ?  just curious

Medium ksqoekox 400x400Jay Hinrichs, TurnKey-Reviews.com | Podcast Guest on Show #222

@Ryan Mullin

  well you guys will be like Portland when you get a TV show like Portlandia and of course Grimm... we are hipster central.. average age in PDX is 33 YO

Medium ksqoekox 400x400Jay Hinrichs, TurnKey-Reviews.com | Podcast Guest on Show #222

Originally posted by @Karen Margrave :

WOW, it's looking promising isn't it? Now we need some east coast, northern states, midwest to weigh in. 

Midwest is on fire too. Inventory is tight and prices shooting up in both Indianapolis and Kansas City. Rents are on fire in KC too. They have the 4th highest rental appreciation in the nation right now.

Mike D'Arrigo, Pinnacle Investment Properties, LLC | [email protected] | 800 348‑0956 | http://www.investwithpinnacle.com

@Mike D'Arrigo

  things are frothy all over... I can see why Ben Lybovitch is not buying anything.. Of course since he said he has not bought anything in 2 years we all have made a killing in the meantime.. Ben may be waiting a while before the market comes back to him :)

skinny jeans LOL  maybe 40 years ago I could have fit into them. 

I got my aviator glass's and those suit me fine.

We are seeing rent growth I KC as well... along with some pretty nice retail flip opps.

There are still many markets were retail flips are pretty hard.. but the other areas that are bouncing back its fun.. our stuff is selling within a week.. but of course its not bay area price points at 125k to 200k.. but very strong demand there for really tight houses that are in the close in neighborhoods.. I mean if you going to live downtown in one of these cities buying a home at 125k to 200k is probably the same if not cheaper than renting..

Medium ksqoekox 400x400Jay Hinrichs, TurnKey-Reviews.com | Podcast Guest on Show #222

Originally posted by @Linda Weygant :
Originally posted by @Seth Todd:

Denver Metro. On fire. Hard to find anything with such low inventory. Have to wait in line for an open house ha.

 Hi Seth,

You may think you're being funny, but about a month ago I went to an open house in Thornton where the agent was late - car trouble or something.  The number of people parked outside and/or pacing on the sidewalk was pretty significant.  As soon as the house was open, it was like a herd of people going through.  I waited a bit for the crowd to die down, but more people just kept coming.  I finally went in and rubbed elbows with the rest of them, but it was really annoying to be unable to look at the house in the way I really wanted to.

No joking here :) I've done the same thing and waited for a crowd to die down before I went in with my buyer. People kept showing up so just had to go in and try to stay out of each other's way. Unfortunately, I am seeing a lot of listings show up in the MLS and be under contract before you have a chance to even look at the property or you have to get into a bidding war to even have a chance.

Originally posted by @Jay Hinrichs :

@Seth Todd

  what is creating your housing shortage ... lack of lots to build on... builders can't keep up with demand ?  arbitrary growth boundries like Portland ?  just curious

Tons of job growth here. Coupled with the influx from the medical marijuana legalization and legislation that's stopping builders from building affordable condos for easy accessibility to first time home buyers.New home builders are releasing lots and building as fast as they can, but the availability of skilled craftsmen and materials is pushing building timelines 7-10 months out. For example in March there were approx 4100 homes in active inventory and 3900 homes sold. It was about a 28% growth in sold homes from February with only about .8% growth in active listings.

I am currently in Virginia where its is anyone guess what it is going to be. But I like to invest in Charleston, Huntington WV, and Greenville SC. I personally prefer Greenville due to the warm climate and mild weather. O....you mean the market. The Greenville market, being my favorite, is warm but heating up if that makes sense. In the next five years the will be alot of new industry and charges to the infrastructure that could greatly impact the overall market. 

Northern Colorado, up near Boulder. Everything sells for cash, multiple offers above asking price, no contingencies, no appraisals, no inspections. If it sits for more than a week without going under contract, something major is wrong with it. My town of 200,000, I can think of 2 properties off the bat that aren't selling. One I haven't been in, no idea why it won't sell. The other I have been in. Shoddy work, sloping floors, no garage, weird lot, odd layout. I don't see it selling anytime soon. Everything else, gone in a matter of days. Ultra-super smoking red hot market. 

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you