There are two markets, opposite ends of the country, that I get zillow alerts. Both have started an uptick in price drops over the last 3 months. That number increasing rapidly in the last 3 weeks.
I grew up next to #3 (family is all still there). If I had to place a bet I'd say that Hood River is a WAY better investment and that Leavenworth is a better play than Chelan here locally. Though Chelan is also WAY cheaper to buy into. Waterfront is 99% developed but there are plenty of view acres for fairly reasonable prices.
I skimmed through some Chelan listings and thought it seemed reasonable compared to other trendy places.
Spend a few days in Chelan last week. Cute little town but it was dry as a bone and 105degrees and doing anything better involve getting in the water. Trees are scattered. I have heard more positive things about levinworth, or more specifically the spa there is of great interest to the wife.
I personally would not touch any California real estate with a 10 foot pole. Vacation rental investment property in Chelan seems dangerous to me right now as well.
Does the math work if you fail to rent it for 3 straight months? I’d probably save the money and buy after you retire. It gives you greater flexibility in location, the ability take long vacations with no worries and any future jobs.
I’m still gathering information and researching. Last night I discovered that the loan duration likely needs to be 15 years for an “investment property” even though I don’t have any other mortgages or own any real estate. Navy Federal used to have a “Future Primary Residence” 30 year conventional loan, which would have been perfect for my situation but they got rid of it years ago.
www.forbes.com
Finally!Pop!
Housing Market Recession: Home Builders Warn Collapse Is ‘Unsustainable’—And Prices Could Tumble Another 20%
Excluding a historic two-month plunge at the start of Covid, home builder confidence has tanked to its lowest level in a decade.
www.wsj.com
Unless your a cash buyer I don't see how it's a pop. Gonna cost you the same or near the same with rising rates. No?Pop!
Housing Market Recession: Home Builders Warn Collapse Is ‘Unsustainable’—And Prices Could Tumble Another 20%
Excluding a historic two-month plunge at the start of Covid, home builder confidence has tanked to its lowest level in a decade.
That article reinforces why I don't read the WSJ. Hacks. Not just the opinion section but the whole thing at this point.
A Building Problem for America’s Housing Market
Home builders are pulling back in the face of higher rates. Over the long haul that will only exacerbate America’s housing problem.
