Real estate in Houston has speculative bidders involved

[chasinthesun]

The housing market is fixed against real family buyers taking ownership of quality used homes here in Houston ,this is in the 1000 to 1500 sq ft home market , or first time homebuyers region .What is left to secure after they’ve chosen the best that the market has to offer Is homes that are in a flood area , or ,all ready been rehabbed .The Investment types , Blackrock for instance , are picking out the good product and surging up the cost of questionable product with higher comparable priced homes called comps , a needed answer to evaluate said home for financing, this only boost their now rented purchase and valued it like an umbrella against its down turn as investment , a monopoly or cartel is here and it’s coming across
Our country . One true winning tactic used is double bidding , they will send a cash offer over ,this at price , then ask for closing cost to be paid on their behalf . The second back up contract is a figure higher , up to $10000. This goes into play and is written accordingly if other buyers have put offers that are subjecting their bid as uncompetitive .Over asking price method of walking all other home buyers to search on , Since looking for a home here in The Houston suburbs myself I’ve become rather jaded about the whole affair . Blackrock is also highly vested in apartment complex ownership , they rent the purchased homes and control a good amount of rental sectors of Houston .

[Autoputzer]

That didn't end well in 2008 meltdown in Floriduh. Houses ended up selling at foreclosure auctions for half what they'd sold for during the bubble. There was about one is six houses in foreclosure here in Bubba Estates.

Back in 2008, the geniuses on the HOA board had a brilliant to ban renting in Bubba Estates. That would have thrown another few dozen more houses into foreclosure. Fortunately, there were enough homeowners fighting that.

I was speaking to one of Bubba Estates dotards in the 'hood, seeing if she would vote against banning renters at the annual homeowners' meeting. All the dumbass could come up with was "What ever happens will be God's will." WTF?

[cmac2012]

^ Wow.

Reminds me of one of my favorite lines: I love Jesus just fine, it’s Christians I have a problem with.

[cmac2012]

I wonder how much Chinese money might be tied up in that? I’ve heard reports before they find US real estate an attractive investment.

[Autoputzer]

Originally Posted by cmac2012

^ Wow.

Reminds me of one of my favorite lines: I love Jesus just fine, it’s Christians I have a problem with.

Back in 2018, the crooked board of directors tried to change the HOA bylaws to hold the annual meeting anywhere "within or without the state of Floriduh." "Without Floriduh" means anywhere in the universe except Floriduh. Another senile old **** said ""I'm sure they put that in there because of the hurricanes."

[chasinthesun]

So renters are now a valued asset to Wall Street , You’ll ask why this is so important to me ,well it’s a value of everyone to have a roof over their head and to build that asset over time . The investment strategy for these hedge fund types are to gain leverage over a market , buying a particular item so it’s value can be held higher for gain . Why a certain type of home is clear , the smaller homes that young families start off in life aquiring are the future of securing earnings and wealth building , the opposite of that scenario is being a renter , a funneling of those assets to others who benefit from those dollars . It equally plays a hedge on the detour these young families make into renting apartments , Blackrock equally invests billions of dollars into apartment complex ventures , so you can see the game being played , they seak out the smaller homes to lessen those buyers , putting then apartment rent at a premium , then rising the value of the homes they’ve bought with investors money , as renters keep trying to pull themselves out of this cycle of debt .of being a renter set for life .

[chasinthesun]

Prop 21 in California failed in 2020 , it’ was set to lessen the hold on how rent and these corporate landlords work the market for profit , it was defeated so business is good still in that state , this is One of the reasons people are fleeing California for more realistic means of living standards .

[chasinthesun]

Of the top 30 largest apartment construction firms in America 6 are here in the State of Texas , if you control both entities of rentable product you are a cartel over a market , it’s in plan sight and no one is getting involved because the other side of this coin is invested interested groups , but it’s time to look at how this plays out . A mathematian doesn’t have to be called in to understand California is a fluke , it’s a pattern of greed , it doesn’t sleep .

[chasinthesun]

To own so many houses in one market like Houston , Blackcock and their competition can also manipulate house prices, this is easily accomplished 2 ways , one is by allowing a certain volume of product out of their inventor of rentals and putting them for sale . Why would they sale a home that makes them rental dollars . Well , to buy it back at a higher cost . You may say that’s going backwards ,but really it’s not , it’s raising house values artificially making other inventory more valuable , Raising rent values through Houstons marketplace with this turn of property . The 2nd can be exacting, it’s opening up a certain available homes to sale , then quickly giving out a 3 day window of opportunity for buyers to bring their offers into the sale , highest offer is then taken by seller .This creates a competition in the buyers eyes , and price is easily worked up as offers are up to what the buyer is willing to fork over . A realtor gave me an example of one out of town buyer put an offer $9000 above asking price and yet still didn’t win the offer .Another example she gave was north of 65k over asking on a house worth $350k . It’s being driven with not regular market movements , this is corporate doings and it needs to be explored .

[davidmash]

I suspect this is happening here in DFW as well. Prices here are continuing to go up at an alarming rate which I do not think is sustainable. I was flipping house with my brother in law but we stopped due to the cost of the houses. People are getting full retail for houses that need a full remodel. There was no money in it for us.

I have two rentals that I am renting at well below what I could get. The houses are in excellent shape and I take care of any issues that come up. When I list the house, its gone in 24 hrs with multiple inquiries. Most offer cash as they are walking in the door. It is insane how desperate people are for a quality rental.