Thoughts on the current real estate market

[77charger]

We sold or house in fullerton went to peoria az too 300k in equity put 250k down on a 305k house.Listed last april we didnt know what was going to happen at the time was almost consdering renting and see if things dropped glad we didnt current house gone up 65k since june.

Old house went up about 25-30k already too.Just felt it was time to get out of ca and glad we did.As for market tanking thought it would have by now but it will eventually as its a cycle.But if your in for ling run aint going to matter.

 

[Nickman123]

Due to the Covid foreclosure/eviction protections and people not paying their mortgage/rent, there is a huge percentage of houses across the nation that are in some stage of foreclosure. Way higher than even in 2008. What happens when the protections are lifted and the mortgage companies can really start foreclosing? Will those people simply pony up the back money they owe? Or will there be a big round of foreclosures like 2008? I'm waiting to see.

 

[wesinls]

What's everyone's thoughts on the current real estate market? I'm considering buying a new house here in San Diego and I realize that I'm buying high but I'm also selling high. How are we all feeling about the economy and the future direction of the housing market. Curious to get the thoughts of all you real estate ballers. 

How old are you?  If you're over 55 or close to it -look up prop 19 to transfer your current property tax base...A lot of people will say the new home has to be equal or lesser value, but that's not the case - its not a 1 for 1 swap, but you wont pay the full of the new house...If you're not over 55 - really think about your new property tax base and if it's worth it.