Quote:
Originally Posted by Biggd
The real estate market has already started to slow down. Sellers are reaching for the stars with super high asking prices. You're not seeing the multiple offers over asking as was earlier this summer.
If interest rates start to rise then the slow down will continue which will eventually lead to lower offers and price negotiating again.
Anyone that bought in the past year will probably see some of their equity eaten away.
|
Fortunately, my seller didn’t want to do some key repairs, they started with the price too high (and we bought in the winter), so they came way down for our offer. I won’t lose anything other than hypothetical “stupid money” equity.
But a lot of people buying turn key properties and flips will get hosed.