C housing prices rising (by Richard [MI]) Feb 4, 2023 2:22 PM|
C housing prices rising (by Ken [NY]) Feb 4, 2023 4:30 PM
C housing prices rising (by 6x6 [TN]) Feb 4, 2023 10:17 PM
C housing prices rising (by plenty [MO]) Feb 5, 2023 7:13 AM
C housing prices rising (by Oregon Woodsmoke [ID]) Feb 5, 2023 12:03 PM
C housing prices rising (by Ray-N-Pa [PA]) Feb 5, 2023 8:54 PM
C housing prices rising (by Richard [MI]) Posted on: Feb 4, 2023 2:22 PM
I'm noticing around here that the prices for the "C" type housing are not dropping . The prices on B and A types might have come down some but the C housing is holding and in some cases going up. Around here, there are NO slums so the C houses are the bottom tier of what is available.
It is like the people that were in the A and B places that got laid off have sold out over the last year and are buying smaller C places to ride it out. Rents are up. Prices are up. for the C houses. I am getting offers on places at twice what they were about 2 years ago. Also, there is a massive shortage of houses under 100K with none being built. Spec building went away a long time ago and now it is only contract building. There are NO subdivisions being built. Big fancy places only being built on contract in the very high end areas.
I'm selling outlying stuff and any needing major upcoming repairs and will be concentrating only on areas that have hospitals, college campus' and government offices for the foreseeable future. Also, I'm adding smaller places in the country with a bit of land, if I can find them. People may need to double up or triple up to make ends meet if things get bad, so having a bit of land and a place in the country away from prying eyes sounds good to me.
Speaking of the big cities, I'm going to pass on them at this time. --97.85.x.xx
C housing prices rising (by Ken [NY]) Posted on: Feb 4, 2023 4:30 PM
I just bought,rehabbed a place and sold it in a c hood and it sold for a good buck,double what the people who sold it to me paid for it 3 years ago and i had buyers fighting over it and sold it for over asking.My broker has the idea that the payment was no more than rent would have been so there were prospective buyers because there is nothing available for rent in that city --74.77.xx.xx
C housing prices rising (by 6x6 [TN]) Posted on: Feb 4, 2023 10:17 PM
I have been noticing that rents for 2/1 have been higher than some 3/2. It seems that the smaller homes may well be in more demand. The college students here have had difficulty finding housing. --73.120.xx.xx
C housing prices rising (by plenty [MO]) Posted on: Feb 5, 2023 7:13 AM
Good observation of the market. Seeing similar here. --172.56.xx.xxx
C housing prices rising (by Oregon Woodsmoke [ID]) Posted on: Feb 5, 2023 12:03 PM
What has dropped in price and remains longer on the market are the smaller houses, 1,000-1,100 square feet, one bathroom. These are in areas where there are a lot of renters, so I am guessing that locally the landlords have stopped buying.
Multi-million dollar houses have had a small drop in price, but seem to be selling without too much delay.
No one wants the split level houses. There are a lot of them on the market, they stay on the market and are having large price drops. Most of these are in nicer neighborhoods so I suspect that the floor plan is the only reason they aren't selling. I wouldn't want to live in one of them and maybe the tenants don't want to live in them, either. --76.178.xxx.xxx
C housing prices rising (by Ray-N-Pa [PA]) Posted on: Feb 5, 2023 8:54 PM
Class C places are considered affordable housing here. I don't suspect that niche will go down.
That said, around here a class C will not appreciate as fast a A or B places. --24.101.xxx.xxx