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Real Estate post 9/11

Discussion in 'Archived Threads 2001-2004' started by John Tillman, Nov 11, 2001.

  1. John Tillman

    John Tillman Supporting Actor

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    Just want to start a discussion about Real Estate in your area in the post 9/11 aftermath.
    I've noticed that my area (Huntington, LI) for this time of year, has more residential for sale signs out for this time of year. Its not a flood of properties on the market, but about 10 to 20 percent more. Properties are selling, except for the ridiculously overpriced.
    I'm trying to figure if the activity is just a NYC suburbia thing due to the 9/11 shock factor, or an economy thing as well, lower rates etc. I'm not a professional R/E person, just a homeowner wanting to know what the national trend is at this time.
     
  2. Henry Carmona

    Henry Carmona Screenwriter

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    Interesting John,
    This too concerns me slightly. I recently put a piece of property on the market.
    It is located in a pretty well-to-do area of NW San Antonio. The recent events had no bearing on my decisin to sell, but i do wonder if it will affect my potential to sell it.
    It doesnt seem to bad though, last month 3 properties in the same area sold for an average of about $42,000.00, 2 are pending and 1 other is on the market besides mine.
    I hate selling it, but i will love the savings when i pay off some bills [​IMG]
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    [​IMG] "Charlie don't surf."
    [Edited last by Henry Carmona on November 12, 2001 at 01:26 AM]
     
  3. Philip_G

    Philip_G Producer

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    sounds like a good time to buy, the prime rate is rock bottom, should make for some financing bargains.
     
  4. Scott Merryfield

    Scott Merryfield Executive Producer
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    Real estate prices in our area have continued to increase since 9/11. I think the low interest rates are keeping the market strong.
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    My DVD Collection
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  5. Bill Catherall

    Bill Catherall Screenwriter

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    I live in Antioch, CA (East Bay Area) and the market wasn't too good for selling even before the 9-11 attack. We bought our house October last year and at the time it was a seller's market (houses sold about as fast as they went on the market). But this past year things really slowed down. Probably because of the stock market losses late last year and early this year. Neighbors have had a hard time selling their houses, but they were getting a good price for them when they did sell.
    We're currently in the process of refinancing so we can take advantage of the low interest rates. It also turns out that, based on a comparative market analysis, our house value has gone up about 30% over the past year! So we can also get rid of the PMI payment and save even more money each month. Woohoo! So the market is currently very ripe for refinancing, and prices are good for selling, if you can find a buyer. Many banks are also offering loans with rates lower than 7% and no fees or closing costs! It's just incredible!
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    Bill [​IMG]
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  6. Ryan Wright

    Ryan Wright Screenwriter

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