Call it something like a 'project,' then sign a contract with the city, make 10x the money back in five years time, then sell it at 4x the purchase value to be torn down and turned into a walmart.
It's almost like, I've seen this episode before...
I'm not advocating illegal activity and IANAL, but if it were me I would put a pot of grease on the stove and go to town. Your home value is shit now and with all the sales going on you'd be lucky to sell it in a year.
I would be more impressed if I knew how many houses were for sale in June of 2019. You're trying to put out that 5,316 is a lot of houses. It may be. I have no idea. You provided no context.
Take a look at houses sold for a given time frame. In the past 90 days, an average of 121 houses were sold each week (1,584 total). In the past week, a total of 12 houses were sold, which is a 10x drop.
New Listings in the Twin Cities region decreased 22.9 percent to 5,967. Pending Sales were down 20.1 percent to 4,612. Inventory levels fell 13.1 percent to 9,279 units.
Me and the wife are moving to Iowa soon, to be closer to her parents and work, and this worries me that the reasonably priced homes we had been looking at will all be snatched up by people who should have fixed this mess years ago, who instead let it fester and then run.
I work real estate - title work - in Polk Co Iowa. I have 57 hours in this week and am getting ready to go into work for day 7. I work 7 days a week now. Real estate here is hot hot hot. We sold more houses during the pandemic than during 2019, which was also a record setting year. Iowa had the least increase in pandemic unemployment among the 50 states. Iowa also took the least federal pandemic aid among the 50 states. We are rocking. I still wouldn't live in the city, though. I only enter it for money and entertainment.
My line of work has leads in Altoona, Cedar Rapids, or Rathburn. So if I end up adding to your workload, sorry. But CR and Rath are looking better for me.
Rathbun Lake area is beautiful. Small town living at its finest down there. Nothing like Cedar Rapids or Des Moines area. Small town housing will be one-half or even one-third of the cities.
Altoona is a nice community. Just a few miles from Des Moines but without the dirtbags and crime. It has Adventureland Amusement Park, Prairie Meadows horse track and casino, and Bass Pro Shops. Close to State Fair.
Cedar Rapids wants to be Des Moines but just can't quite compete entertainment wise. Good job market there.
I posted this is another thread. "Houses sold" is an excellent indicator: Just looked on Zillow, and for the previous three months, Minneapolis averaged about 121 homes sold each week (1,584 total). Looking at the past week, 12 houses were sold. That is a 10x drop in weekly sales.
I sold a house in Minneapolis in April and it went for full asking price. I finally got an offer on a new one accepted in May after losing FIVE previous ones (in the nearby suburbs), all we gave ~20k over asking price. There's very low supply here (or at least in my price range of less than $500,000).
That being said, I haven't looked at the listings in a month or so.
True. I always wonder what the dollar or ten dollars they ask is supposed to accomplish--yeah, legally I guess that makes it a "sale" but at that point...
If you dont sell now you will take a huge loss on your property value. I imagine that was an overvalued market before and now its going to get a big fat correction.
Ive now seen a few pictures and post on home sales in minneapolis. Both from here and 4chan. I just wont to know how much of an icrease this is from the normal houses on the market
Property values around MNPS are going to be in the toilet. Maybe pick yourself up a block or two, build a fortified castle.
Country of CHAD
You beat me to it, what OP is describing IS CHAZ. kek!
"Only true chads will be permitted to enter the CHAD zone."
Call it something like a 'project,' then sign a contract with the city, make 10x the money back in five years time, then sell it at 4x the purchase value to be torn down and turned into a walmart.
It's almost like, I've seen this episode before...
Feel bad for folks hoping to make money. Never vote Democrat!
I'm not advocating illegal activity and IANAL, but if it were me I would put a pot of grease on the stove and go to town. Your home value is shit now and with all the sales going on you'd be lucky to sell it in a year.
Prolly Illhan Omar's tribe will be snapping up all the cheap real estate and settling their chain migrating kinsmen in them sad to say.
Also providing the staffing for the Community Patrols.
I would be more impressed if I knew how many houses were for sale in June of 2019. You're trying to put out that 5,316 is a lot of houses. It may be. I have no idea. You provided no context.
Take a look at houses sold for a given time frame. In the past 90 days, an average of 121 houses were sold each week (1,584 total). In the past week, a total of 12 houses were sold, which is a 10x drop.
Would you buy a house in MN at this point? Only people I believe that would are oblivious or don’t know what’s really going on.
12 houses "sold"= closed? Because that means the drop was ~40 days ago when offers were made.
Zillow just marks homes as "active contingent" but still "for sale" during that time period.
Thanks. First question I asked, too, that wasn't answered by the OP.
April 2020 Quick Facts
New Listings in the Twin Cities region decreased 22.9 percent to 5,967. Pending Sales were down 20.1 percent to 4,612. Inventory levels fell 13.1 percent to 9,279 units.
http://maar.stats.10kresearch.com/docs/mmi/x/report?src=page
Thank you for the data. Ops post means nothing.
I do believe real estate will eventually be fucked in Minneapolis though.
Definitely at some point it will, just a matter of time.
Idk, I went on zillow and the amount of new listings put up last night in minneanapolis is wild! I think that’s where you have to search.
detroit 2.0, it will never recover.
Me and the wife are moving to Iowa soon, to be closer to her parents and work, and this worries me that the reasonably priced homes we had been looking at will all be snatched up by people who should have fixed this mess years ago, who instead let it fester and then run.
I work real estate - title work - in Polk Co Iowa. I have 57 hours in this week and am getting ready to go into work for day 7. I work 7 days a week now. Real estate here is hot hot hot. We sold more houses during the pandemic than during 2019, which was also a record setting year. Iowa had the least increase in pandemic unemployment among the 50 states. Iowa also took the least federal pandemic aid among the 50 states. We are rocking. I still wouldn't live in the city, though. I only enter it for money and entertainment.
My line of work has leads in Altoona, Cedar Rapids, or Rathburn. So if I end up adding to your workload, sorry. But CR and Rath are looking better for me.
Rathbun Lake area is beautiful. Small town living at its finest down there. Nothing like Cedar Rapids or Des Moines area. Small town housing will be one-half or even one-third of the cities.
Altoona is a nice community. Just a few miles from Des Moines but without the dirtbags and crime. It has Adventureland Amusement Park, Prairie Meadows horse track and casino, and Bass Pro Shops. Close to State Fair.
Cedar Rapids wants to be Des Moines but just can't quite compete entertainment wise. Good job market there.
I'm heading in to work. Good luck!
Thanks, your info is useful. The wife's family is all near or south of Ottumwa and I didn't care for that area.
Where are they going to go to? Thats the part that scares me.
Nothing unless they want to start a war against heavily armed people who don't give a shit anymore
I really, really want to see a graph of new listings over time, grouped by day.
That would be sweet.
3 days ago I saw it reported on a podcast at 1600 listed. It's shooting up fast.
House for sale is far different from house sold. Good luck on closing.
Fuck that shit. Don’t let them leave. Make them eat their own cooking. I don’t want them dragging their blue bullshit to where I live.
It's us conservatives that are GTFO. We know what happens when the police go.
I posted this is another thread. "Houses sold" is an excellent indicator: Just looked on Zillow, and for the previous three months, Minneapolis averaged about 121 homes sold each week (1,584 total). Looking at the past week, 12 houses were sold. That is a 10x drop in weekly sales.
Did you bother to check the map week-by-week going back 3 or 4 months? Or bother to, you know, look at the map and check the scale of miles?
I sold a house in Minneapolis in April and it went for full asking price. I finally got an offer on a new one accepted in May after losing FIVE previous ones (in the nearby suburbs), all we gave ~20k over asking price. There's very low supply here (or at least in my price range of less than $500,000).
That being said, I haven't looked at the listings in a month or so.
Fukdhfrieie. Glad I just purchased 2 years ago hand have dumped 20k to update my New Hope,MN home to add an additional room, new driveway and patio.
Interesting. Those people lucky enough to sell theirs are going to get a low price, alas, but at least they'll be gone.
I remember at one point in Detroit there were really huge houses, practically mansions, for sale for $10!
True. I always wonder what the dollar or ten dollars they ask is supposed to accomplish--yeah, legally I guess that makes it a "sale" but at that point...
Yeah, I saw some really sad pictures...that were also scary!
Bet the Chinese are already in there mopping up the bargains.
If you dont sell now you will take a huge loss on your property value. I imagine that was an overvalued market before and now its going to get a big fat correction.
😂
Muh White Flight! Now how will I bitch about gentrification?!
What's the normal rate they're listed on the market? What's the normal buy rate?
If they list 5000 homes and only 1000 get picked up that's a net of -4000.
Ive now seen a few pictures and post on home sales in minneapolis. Both from here and 4chan. I just wont to know how much of an icrease this is from the normal houses on the market
And so another jewel of the Midwest falls
People vote with their feet
Looks like someone can swoop in and buy up the whole town!
We’d need to know what the sales numbers were pre-looters and the home values pre-looters
This is false, go on Zillow and do your own search!!!