I keep getting letters in the mail with offers to sell my place,

Some are quite nice and tempting but with those kind of

offers, it makes me wonder what the market is like

Anybody else experience this ?

Spam.
If it the same mail I get A short one page offer?
All the different companies are linked
They want your signature to be able to acquire your property

House prices quadrupled here in a very short period of time. Places that were selling for $250K back in 2019 were listing at $500K with expectation of a bidding war and unqualified offers.

When this bubble pops, it's going to be painful.

Not just the House's but used trucks are gold today!!.

it is crazy can't hardly touch anything around here for less than 230K a lot of properties 325 to 500K

anything under 200k is gone in no time

the jobs around here are not really paying enough for the 230K houses so something is going to have to give

the same house that was 120k in 2011 is now 250k and sold in not very long they want to catch people who aren't following the market and who are like well we paid 90K or this house in 1999 maybe we should sell they are offering 250K and get them to sign before they realize there isn't anything else the can afford in the area.


if they are offering it , they are offering it way low

and yes the bubble is going to really hurt when it bursts again. it hurt last time in 2006-2010 .
couldn't we learn from last time ?

Surprising since interest rates keep going up on home loans. Over 7% last I heard.

A whole new Generation of young buyers. driving it up

the market has fallen some in the last 18 months as soon as the interest rates started climbing.

it was even crazier in 21 and early 22

house not far from me they bought it in 2017 for 115k the listing agent in early 2022 was telling them start asking 200K and take 190K
well the market fell very shortly after when they had turned down 170k
late 2022 they got 140K for it and it is nothing special and needed a bunch of electrical work.

knew the old owner a little know the new owner a little

the issue here is houses you can afford on the pay being paid that is why anything under 200K is off the market in very little time if you an agent possibly a sign never even goes in the front yard or if it does it goes up with offer accepted on it.

Not true

My biggest mistake is not buying a home in late 2020 or early 2021. Prices were high, but interest rates here were 1.8%-2.5%

Now the home prices are the exact same and interest rate just topped 8% last week

I have not been following the market since I'm not buying or selling but I think it has slowed here. There are a few houses I drive by that have been for sale for a few months. Not long ago they would have been gone in hours.

14 years of below normal low interest to drive the housing market has a result. That and the Fed buying your mortgages with made up money.

Mine is paid for and we have low taxes. I feel for my son and those buying house in few years, maybe he times the next bubble burst.

My house has about doubled in value from when I bought it in 2010.

In 1981 home mortgages averaged over 18%, I don't see it happening again but history repeats itself and surprises those that don't know it. My first mortgage was 16.125%

But in 1981 you could buy a new house for $40,000, now a new home is at least $250,000-$300,000. And that’s nothing fancy…..

There is no hope. The last time prices on houses started going going down, the government printed billions of dollars to make them go up.

We got lucky and bought our farm right after the housing market crashed. Our farm originally listed for $499,999.00 in 2010. We closed on it in January of 2012 for $159,000.00.

Keith

That literally will not buy you a doublewide on one acre here

Our area has a significant shortage of affordable housing for the labor and family income in our area. So much so that instead of building condo sites like many are doing, several business owners are working with investors to build 1 for sure maybe 2 middle income housing complexes designed for younger working families, as these firms realize those families won't stay and work here if the can't afford to buy housing to stay.
We get those letters too on buying but most are post cards, which we ignore. Things has slowed here quite a bit as interest rates are slowing down the loans and also fewer houses are going on the market as many find that selling and finding other housing costs them more money than they had hoped that it would.
Bryce

$159,000.00 won't buy a double wide on an acre around here anymore either. A little less than 2 years ago they sold a trailer home on the state highway, close to us, on 3 acres for $229,000.00.

The current internet evaluation of our small farm, for a quick sale is $429,000.00. I could probably get a little more and get pretty close to 3 times what I paid for it 11 years ago. Prices have shot back up.

Keith