How's the Weather Today?

[94touring]

Out of curiosity looked that house up this morning and the price has been lowered 20k. 

[MiniDave]

Have you already looked at it? Is it a project or ready to move in?

Cause I don't know if you can handle any more projects!   

[94touring]

Minor projects!  Move in ready. 

[Brit_in_TX]

Speaking of homes, the real estate market is still out of control.....I have friends wanting to move into Overland Park to be closer to their office, they've made offers on two homes in the last couple of months and didn't get either. On one they offered 40% over the asking price and someone beat them out with a cash offer that was $10K higher, and this was on a fairly spendy house - final sale price was $450K. They've seen houses offered for $300K that needed "everything" done inside and out and they sell within one day for $75-100K higher than asking. It's nutso out there!

That has been going on down here for the last 3 years.  That is one of the reasons I am still living in an apartment.

The main reason house prices are continuing to rise in the San Antonio and Austin area is the continued population increase in this area.  This coupled with a lack of new houses being built (which is hard to believe if you drive around) is keeping house prices high, even with the interest rates. My realtor friend does not believe there will be a significant reduction in house prices around here due to the undersupply of housing stock.

Also your opinion on house prices really depends where you come from.  I currently live in a 3 bed, 2 car garage, 2000 sqft house, which I bought for $250K in Jan 2021.  In the UK I lived in a 700 sqft 2 bed, no garage house which was valued at a similar price.  So I think housing in Texas in cheap.  My friend lives around 1 hour outside of London in a 5 bed, 1750 sqft, 3 story house, with no garage and that is currently valued around $1 million.

[ve9aa]

I don't know how you Southerners do it. After a little more than an hour doing some moderate labour outside, I was ready for cccold A/C and a Coke.

[MPlayle]

27.6*C is only 82*F!  That is like our overnight lows this summer.  It would be fantastic to have that as our daytime high, but we are not likely to see that happen until maybe November at the rate we are going.

We are currently 104*F (40*C) in San Antonio, Texas.

[MiniDave]

Yes, location and availability have a lot to do with prices.....here in the middle of the great flyover prices have traditionally been pretty reasonable. And while nothing like what my former house in Sandy Eggo has done, as a percentage it's very similar. But in terms of affordability, a LOT more people can qualify for a $400K house than a $1.25 mill....which is why houses in my hood are all of a sudden selling like the proverbial hotcakes, even with so much higher interest rates.