Real Estate Crash thread

[XXX-er]

I worked with a guy at IBM in Vangroovy so he obviously was doing ok financially he was pretty smart and pretty handy so he rented out the 2 houses he owned and he payed rent for the house he was living in, I didnt ask but I think it was some kind of group thing possibly with people from his church if he was still alive ( an over eater ) by now he will be worth many millions

[grrrr]

Got a nice Ketchum condo for sale. 2 bed 2 bath, view of Baldy. $1.15M special for you today. Tax assessor calling it $1.25.

I'm watching for the boat market to crash. If things get bad, that'll go first.

[Name Redacted]

Tons of properties for sale but not enough buyers.https://www.summitdaily.com/news/col...s-summer-2025/

[Whiteroom_Guardian]

^^^^

Definitely seeing a bit of "buyer's market" stuff right now. Got some clients under contract on a sweet place with 5 acres west of Bozeman. 20-25 mins from Main Street. Still negotiating, but I think we are gonna get them a really nice price of around 92% of current lowest list price. Well below the recent average.

Some sellers are starting to get realistic especially when they have owned the house for 30 years and they realize 700k profit is better than $0 profit because you are being stubborn and won't sell the house. Still plenty of other absurd list prices from out of touch sellers. Throwing up listings with just insane high list prices for stuff that isn't that special. Real head scratchers. On the other hand cream puff type houses are still going under contract quickly and getting asking price or above.

[Name Redacted]

Around here, insurance and building maintenance on old condos have sent HOA fees and taxes through the roof and it is squeezing people out.

[liv2ski]

Good to hear. One of my time killing daydreams is I won the lottery and I am buying my dream home in Tahoe. I can see the places listed to sell and they are gone in a week. Other homes that are comparable, but listed 30%-40% higher sit forever. I look at the listing history and the people did the same thing in 2020 or 2021. List it way to high, sits on the market to eventually be withdrawn. Greed is dumb.

[summit]

Oh no buyers market and yet the assessor wants to raise my valuation another 14% despite the fact that nothing is selling and shit is getting marked down and pulled from the market around me.

Agreed on the insurance being nuts for condo folks. In fact, one large complex was told their premiums would go up $1M/yr if they allowed rental durations less than 7 nights... and it was the ONLY insurer who they could get any policy from after much searching.

[XXX-er]

up here the RE in Vancover and Toronto is crashing big time especily the condo market

[fastfred]

yeah I'm fucked

its ok just need to be realistic huge profit is better than no profit don't be greedy

after twenty years I'll do ok no matter what

but yeah a kick in the balls for sure

[XXX-er]

Look at your long term gains take your profit and be happy

[fastfred]

^^^ I know coulda been under contract in less than two weeks but I bailed

will renegotiate in two weeks

[XXX-er]

last house I sold the agent sold it twice in 3 weeks so I thot maybe I should have asked more ?

A buddy coming thru town said no you did great the bubble burst last month and EVERYTHING in town is for sale

SO I hit it almost right on cuz I was not paying attention skiing/ drunk/ stoned/ chasing woman,

2 weeks is a lifetime in RE

[goldenboy]

That was a good article. Summit seems like the anomaly. Our market in CB sounds more like what was being reported in Steamboat or Aspen. Still very limited inventory and picky buyers. But when the right thing comes along, there are still multiple offers. Agreed that the higher HOA dues at condos due to insurance and maintenance is hurting that category. Things will get interesting if the seasonal influx of new listings that we typically get (and got) in June don't sell this summer.

[Whiteroom_Guardian]

^^^

Yeah our inventory is getting better. On paper it's still a sellers market, but if it needs a touch of work, a bit outside of town, non-Bozeman street address etc there is some wiggle room assuming the seller is reasonable/paying attention. Desirable location, unique, turn-key, close to town etc still moving fast with multiples. Hard to get buyers to see the difference sometimes. "I know that other one we looked at stayed on the market 100 days......this one might be active for 3 days. This is one you move on."

[byates1]

https://montana.craigslist.org/reo/d...853331854.html

Could do a lot worse for 27 grand.

Quiet up thar in opheim

[summit]

Not as good as 4 acres for $20K right near Grays and Torreys!

One an amazing high altitude mining claim just below the famous Grays and Tory's mountains. This patented mining claim was located in 1887 and was found to produce many gold and silver deposits. There are many historic relics pertaining to the lives of the old time miners still about. With one shaft and one tunnel on the property the history and curiousness of what's to find lingers. Property is not a easy one to get to which makes it great for a place to go and hide. With breath taking views all around you will easily be able to get lost in the scenery. Seller is motivated to sell. Please use caution when viewing property. DO NOT ENTER ANY MINE SHAFTS OR TUNNELS AS THEY ARE UNSAFE AND PRONE TO COLLAPSE. Please view property before submitting a offer.

Right about 13,000ft below north facing avalanche terrain.
https://www.zillow.com/homedetails/0...40543054_zpid/

[The Reverend Floater]

You're doing it all wrong.

A castle...in Great Balls.

https://redf.in/fuBG2L

[byates1]

I'd rather be in opheim

[byates1]

A mining claim is not land. You can mine but anyone can be on the land and you can't build or occupy the land in any real sense.

[yeahman]

I'd rather be in opheim

Opheim is six hours and 15 minutes from Helena. And Helena is pretty centrally located. That's out there.Decent deals can be found along the Hi-Line a lot closer to Glacier National Park and the Rocky Mountain Front. Chester might be a good place to find that sweet spot.

[byates1]

Yeah mainly joking around. Saw a guy in Bozeman w an opheim shirt on dude was a character. Like the shining out there

[BFD]

Pretty sure you are wrong about that. Patented claim owner has title. Somebody will haul their Airstream up there and call it their ski hut.

[byates1]

Didn't look too hard could be actual property. Tons of "mining claims" for sale trying to pass off as land.

Fuck have at it we could buy it and hide splat up there.

[Harry]

You're doing it all wrong.

A castle...in Great Balls.

https://redf.in/fuBG2L

LOL, that place was posted in this thread a year ago for almost a million $$$$ more. HAHAHAHA !

Also, I know the listing agent, pretty sure Bunion knows her too. Long time Big Sky dirt pimp. Botox, Patagucci puffy, you know the type.


Sent from my iPad using TGR Forums

[goldenboy]

Yeah, Byates1 is wrong on the mining claim thing. Patented mining claims aren't really different than any other land parcel, and many of them have sweet cabins on them. Unpatented- yeah, mostly worthless