HOT - WARM - COLD WHERE'S YOUR MARKET?

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Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes

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?

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Jay HinrichsBusiness Member

Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes

11y

@Steve Olafson

find a good local HML and have him or her put you into fix and flip loans.. 6 to 12 months usually pay 12 to 15% you can drive to them and make sure you like the collateral.

stagger your loans so your getting paid of monthly or so.. no need to lock up for 3 years plus unless you want to put those in an IRA then those are great investments.. they will out perform a rental property in most instances if your paying cash for a rental prop.

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Dana WhickerPro Member
Investor · Fernandina Beach, FL · Member since 2014 · 557 posts · 374 votes
11y
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.
2 Reply
Christian Marin
Real Estate Broker · Orlando, FL · Member since 2014 · 153 posts · 73 votes
11y
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
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Eric Odum
Commercial Real Estate Broker · Tampa, FL · Member since 2014 · 216 posts · 86 votes
11y
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.
1 Reply
Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
11y
@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.
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Linda WeygantPro Member
Investor and CPA · Arvada, CO · Member since 2015 · 2k+ posts · 3k+ votes
11y
Denver Metro area - Red, smoking hot.
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Roy N.Pro Member
Rental Property Investor · Fredericton, New Brunswick · Member since 2013 · 7k+ posts · 4k+ votes
11y
@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.
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Pawan J.
Developer · Vancouver, British Columbia · Member since 2014 · 122 posts · 26 votes
11y
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
1 Reply
Cal C.
Investor · Peachtree Corners, GA · Member since 2014 · 1k+ posts · 1k+ votes
11y
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.
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Justin Stamper
Investor · Orlando, FL · Member since 2012 · 822 posts · 303 votes
11y
We be boooooming over heeeyyyyyaaaaaaaa.
I wish I had unlimited funds and man power for all the deals I want to do in Orlando/Central Florida.
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John Barnette
Investor · San Francisco, CA · Member since 2015 · 60 posts · 46 votes
11y
SF and Bay Area is expectedly in smelting territory.
1 Reply
Karen MargraveBusiness Member
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Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes
11y
WOW, it's looking promising isn't it? Now we need some east coast, northern states, midwest to weigh in.
1 Reply
Seth Todd
Real Estate Agent · Nashville, TN · Member since 2015 · 36 posts · 4 votes
11y
Denver Metro. On fire. Hard to find anything with such low inventory. Have to wait in line for an open house ha.
0 Reply
Ryan Mullin
Real Estate Broker · Indianapolis, IN · Member since 2009 · 575 posts · 496 votes
11y
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!
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Linda WeygantPro Member
Investor and CPA · Arvada, CO · Member since 2015 · 2k+ posts · 3k+ votes
11y
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.
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
11y
@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
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
11y
@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
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Mike D'ArrigoPro Member
Turn key provider · San Jose, CA · Member since 2010 · 4k+ posts · 3k+ votes
11y
@Jay Hinrichs when are you getting your hipster glasses and skinny jeans? :)
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Mike D'ArrigoPro Member
Turn key provider · San Jose, CA · Member since 2010 · 4k+ posts · 3k+ votes
11y
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.
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
11y
@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..
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Seth Todd
Real Estate Agent · Nashville, TN · Member since 2015 · 36 posts · 4 votes
11y
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.
1 Reply
Seth Todd
Real Estate Agent · Nashville, TN · Member since 2015 · 36 posts · 4 votes
11y
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.
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Karen MargraveBusiness Member
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Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes
11y
@Seth ToddThat's definitely a HOT market!
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Account Closed
Real Estate Investor · Greenville, SC · Member since 2015 · 11 posts · 2 votes
11y
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.
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Mindy JensenPro Member
BiggerPockets Money Podcast Host · Longmont, CO · Member since 2014 · 7k+ posts · 10k+ votes
11y
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.
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Sharad M.Pro Member
Carlsbad, CA · Member since 2010 · 1k+ posts · 1k+ votes
11y
Midwest market - Chicagoland area - NW Indiana
Hot market. Low inventory, but if you look hard enough there are still some deals (not as good as few months ago) to be had. Closed on 4 properties Friday. 2 tomorrow. 5-6 more next week.
Still a relatively decent market for Turnkey/Rentals.
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