And will continue to fall I’m afraid. There’s just way too many new builds flooding the market with many more to come. And being that inflation is still not under control, we can conclude that borrowing costs can either remain or quite possibly even increase. Very happy to see that you’re one of the few realtors on YT not spreading false info

@raadalawanrealtor

2 ай бұрын

They sell, I tell. Transparency is paramount. It prevents people from having a false reality and wasting time.

The migration from California, New York, etc. to Texas is over. The migration is what drove prices up.

@raadalawanrealtor

2 ай бұрын

Over? Ummm, tell that to my phone the last three weeks. It’s NOT over. And I’m just one

@michaelsmelley4382

2 ай бұрын

I don’t think the migration is fully over but I don’t think it will be as extreme as it was in 2021-2022 due to states like Arizona and Florida also becoming way more popular due to having better weather than Texas generally.

As a shopper looking to move to NB I see these preCovid home values vs today's asking prices and (to me) it looks like most of the homes are trying to recoupe their over asking g price purchases and pass that off to the next "buyer". When a property tax assessment lists the property at 429k and the seller is asking 850k when the markets at 8% loan rates there's some serious delusion going on in the area and you Realtors need to stop listing at copium/hopium prices. When a buyer bought at 340k in 2019 with a 2.25 rate why do they think there are now buyers shopping the same property at 615k with a 7.825 rate?

@raadalawanrealtor

2 ай бұрын

You got me going now lol. Alright, assesses value is far different than market value. Assessed is AfTER exemptions. That becomes your new taxable value. And yes I’ve had transparent conversations will families who want to sell and the comps don’t support a sale. If they still insist on selling, I walk away because I don’t want to be part of any sale that harms their house when it sits on the market a long time. The market is correcting itself. The rush to get here created lots of demand and much higher prices, and the sirs been coming out of the balloon for almost two years. The correction is happening naturally.

@rwcannon

2 ай бұрын

@@raadalawanrealtor yup. I agree the correction is coming. And I've looked at a lot of listing to get an idea of what is actually moving vs what some agents are "enabling" their seller to ask for. And I see it at 665, and I'm like that won't sell over 525. And then 119 days later it finally sells 2 days after listing is reduced to 540. I'm not saying you are doing it, but there are a LOT of listings with other agents that are doing it. And that kind of advertised price dropping month over month because sellers don't understand was the first thing made me actually slow down and get a feel for the values going on. If they had just listed and sold in 30 at pre overpaid market value and then try to tax on that over zealous error i probably would have bought in February. But seeing month over month drops now has me watching it like a trend line on a stock. I'm not saying assessments = sale price, but when an assessment is 529 on a first build, then goes up less than 10%(so not even hitting a homestead rate cut off) on an inflated market year, and then it's listed at 950k. Come on.... I love your content, so keep up the good work.

@raadalawanrealtor

2 ай бұрын

@@rwcannon thanks. As I’ve said repeatedly the last 18 months, buyers are in the drivers seat here.

What about homes in Veramendi?

5:37 I see lots of people in my neighborhood who have decided to rent their house because they needed to move quickly.. although it may be risky they may not have a choice if they are upside down 5:57 that July 21 contract date kinda hurts... Mine was March 21 and that was right before prices shot up.. 3-4 months before that and that family would have an easier time getting the price they need to payoff the loan

My timing couldn't be more off. Prices go down but I find myself not ready. When I was ready, prices were too high, for me. I guess I'm waiting again.

@leetowers5668

2 ай бұрын

It's a slow job. Will continue to fall then slowly balance. Keep saving, keep positive, you'll get there

Raad, I was looking forward to this update. Great video with great information as always. Would you be able to provide some information regarding the rental market in New Braunfels?

@raadalawanrealtor

2 ай бұрын

Thanks. Regarding rental, for investment purposes?

@veritasmanagement18

2 ай бұрын

@@raadalawanrealtor yes....supply-demand and monthly rent trends....Do you see more potential buyers renting instead of buying in and around NB?

@raadalawanrealtor

2 ай бұрын

@@veritasmanagement18 buyers some to me to purchase. Maybe 2 out of 20 to rent

@raadalawanrealtor

2 ай бұрын

@@veritasmanagement18 this I could t tell you right off the bat. I’d have to dive into what’s messing and what’s not and today is a full day.

Thanks for the informative video, as always. What about areas like Vintage Oaks, Copper Ridge and others in the 78132 zip code?

@raadalawanrealtor

2 ай бұрын

Thank you for watching. You asking about new construction or re sale! Resale median $ is up in those areas ON AVERAGE IF priced correctly

@CT-ze8sc

2 ай бұрын

@@raadalawanrealtor Thanks for the clarification. What about new construction in the $750 and up range?

@raadalawanrealtor

2 ай бұрын

@@CT-ze8sc Yes, still incentives and discounts to buy the rate down or closing costs. you're looking at Highland Homes or Perry Homes. Our client family just closed on a Highland home in Veramendi. Beautiful one story home with some nice features, $704k, 3000+ sq ft

Is there enough additional land left to develop several more master plan Comunnities like Mayfair

@raadalawanrealtor

2 ай бұрын

thanks for the question. two years ago, NB had 5000 buildable acres left, much of it east of IH 35. Not sure where that number stands now after Mayfair and other communities that have popped up off 46 east

@user-tb4hr2ry3u

2 ай бұрын

@@raadalawanrealtor I assume there’s more land for housing and commercial development just don’t know how much or nb could annex the nearest town

@TexasTexan

2 ай бұрын

Hopefully no new builds on 725

With spring and summer should get better for buyers.

@raadalawanrealtor

2 ай бұрын

How do you figure? That’s when it’s busiest. When demand goes up so do prices. Rates are not going anywhere. So how is it better?

@gimmejr

2 ай бұрын

What do you think will go up more, supply or demand? @@raadalawanrealtor

@gimmejr

2 ай бұрын

@@raadalawanrealtor It's also when more people list their houses so more homes available for sale and like you said interest rates aren't dropping.

@raadalawanrealtor

2 ай бұрын

@@gimmejr more sellers and more buyers in the market place. Half our buyers are all cash or large down payment. So rates mean nothing to that segment. The other half are aided by builder incentives

Weirdly enough, over the last week I’ve seen many examples of new homes with price increases. I get a withering assault of daily emails from Zillow that show trends, and a lot of home prices have been edging up, even though they’ve been sitting on the market for long periods of time. What is up with that?

@raadalawanrealtor

2 ай бұрын

Where?

@raadalawanrealtor

2 ай бұрын

they're not new construction b/c those homes decrease when they're finished just sitting there. Re sale? Sellers decision. What's on the market doesn't count. What's sold counts.