Many homeowners are now underwater on their mortgages with the housing downturn

[GOPerfect]

With all my searching for homes in Tennessee, I have noticed that they definitely list differently there than they do here in New York. If any parts of a crawl space / foundation is higher than 6 ft, in Tennessee they call that a basement. There are many things that they list differently. Some of their listings include bathrooms as square footage. Much of the time here in New York bathrooms are not listed as square footage.

Many differences indeed.

 

[Drinkthekoolaid]

Random house (modular home) in east TN I had liked a few months back just to follow. I think it was originally listed for like 210 And it just sold for 206

1532 Back Valley Rd, Speedwell, TN 37870 | Zillow

1532 Back Valley Rd, Speedwell TN, is a Mobile / Manufactured home that contains 2112 sq ft and was built in 2012.It contains 4 bedrooms and 2 bathrooms.This home last sold for $206,000 in December 2022. The Zestimate for this Mobile / Manufactured is $245,900, which has decreased by $4,533 in...

www.zillow.com

If I'm not mistaken I think maybe @GOPerfect saw this house or the nearby area.

 

[Drinkthekoolaid]

With all my searching for homes in Tennessee, I have noticed that they definitely list differently there than they do here in New York. If any parts of a crawl space / foundation is higher than 6 ft, in Tennessee they call that a basement. There are many things that they list differently. Some of their listings include bathrooms as square footage. Much of the time here in New York bathrooms are not listed as square footage.

Many differences indeed.

I've seen some differences too where in ny a bedroom needs a closet to technically be listed as a bedroom. Otherwise it's just a "bonus room" or office.

In TN I've seen houses listed where they have counted "bonus rooms" as bedrooms and note something like "you'll just need a wardrobe or to box out a closet".

 

[Saltwater60]

I've seen some differences too where in ny a bedroom needs a closet to technically be listed as a bedroom. Otherwise it's just a "bonus room" or office.

In TN I've seen houses listed where they have counted "bonus rooms" as bedrooms and note something like "you'll just need a wardrobe or to box out a closet".

To me all this speaks well of TN and they are not a nanny state. You’re not going to buy a house without doing your due diligence and if you want to use a room without closets as a bedroom then that’s your choice, or should be. There are many ways to store clothing outside of a closet and in fact my sons bedroom doesn’t have a closet and my house was sold to me as a theee bedroom home. Letitia James should get the fuck on that.

 

[Acer-m14]

A woman had to move out of her tiny home after 1 day because the city threatened to fine her $1,000 a day

Chasidy Decker is taking legal action against the city of Meridian, Idaho, over its ban on living in trailers and RVs in residential areas.

www.businessinsider.com

to many rules and regs on what you want to live in ..

wile the homeless just pitch a tent and just piss n shit on the sidewalks ..

 

[GOPerfect]

BREAKING: Fed raises interest rates half a point to highest level in 15 years

 

[Saltwater60]

BREAKING: Fed raises interest rates half a point to highest level in 15 years

I’m glad my sister and her husband haven’t received their $60,000 brand new boat they can’t afford. The interest rates since they agreed to purchase it have risen 1.75% and they think their rate is locked in. It was locked in until the end of the month they bought it but not for 3-4 months.
I want this. I want it all to collapse so I can buy shit cheap.

 

[GOPerfect]

I’m glad my sister and her husband haven’t received their $60,000 brand new boat they can’t afford. The interest rates since they agreed to purchase it have risen 1.75% and they think their rate is locked in. It was locked in until the end of the month they bought it but not for 3-4 months.
I want this. I want it all to collapse so I can buy shit cheap.

yep, that is why I save so much each month.

 

[MikeM]

I wonder what impact a group of low-ball *investors* could have on a local housing market. Think - 25 or so people in a coordinated effort to bombard sellers with 2019 level offers. Some sellers may accept, Realtors would get scared, the successful investor drops out and a new one joins the club. They could even keep reselling within the group to skew local comps.

*Investors* = buyers seeking a primary residence.

I think there would be a psychological effect to a seller that is getting tons of offers at 50% of listing price. They would at least lose faith in their Realtor.

It would be kind of like the GameStop thing, but for Real Estate.

I think this is brilliant if done properly and without excessive greed. I like a house listed for 400k. Others send in offers in the high 200's ie 275. If the seller actively considers it then I come in at 300k to 325 and get the house.

 

[TEOTWAWKI inc.]

I think this is brilliant if done properly and without excessive greed. I like a house listed for 400k. Others send in offers in the high 200's ie 275. If the seller actively considers it then I come in at 300k to 325 and get the house.

I'm in, Mike. We just need to work out some details.

This would be safest if we were looking in the same area, and liked the same houses.

 

[Saltwater60]

I think this is brilliant if done properly and without excessive greed. I like a house listed for 400k. Others send in offers in the high 200's ie 275. If the seller actively considers it then I come in at 300k to 325 and get the house.

What about the outsiders? What if some one outside your group makes an offer? What if their mortgage is more than what you offer? Could work, but likely won’t. If they would take that they would reduce the house price. Again it could work but probably a rare circumstance on where it would. Just wait and the prices will drop.

 

[Jmac00]

A woman had to move out of her tiny home after 1 day because the city threatened to fine her $1,000 a day

Chasidy Decker is taking legal action against the city of Meridian, Idaho, over its ban on living in trailers and RVs in residential areas.

www.businessinsider.com

to many rules and regs on what you want to live in ..

wile the homeless just pitch a tent and just piss n shit on the sidewalks ..

she has many, many options that are far cheaper than living on someone elses property. There are a TON of Army Corp of Engineer property in that area. with a National Park Pass it could cost her as little as $70 per week ( ten bucks per night ) with power and water. and possibly sewer ( not all COE campgrounds have sewer ) also in that area, I don't know if the COE turns the water off for the winter?.
the one caveat is, you must move to a new campsite every two weeks. But thats assuming someone is checking. I have seem people literally move their camper to the other side of the same campground. If there are very few people there, they ( Rangers ) don't really care