GON
$100 Site Donor 2024
Home prices continue to rise. Good homes contract in under a week after listing, many time in under 24 hours. If a home is listed for over a week and is not under contract- likely something undesirable about the home.
Interest rates are creeping up, but that is not hampering the sale of good homes. I study 16 housing markets west of the Mississippi River weekly. I was shocked to see the greater Heber Valley, UT area with a projected seven percent year over year increase in 2024. Note the greater Hever Valley area has seen well over a double of housing prices on a MACRO basis in under five years. In 2015-2016, it was not so easy to sell a home in the greater Heber Valley. I am not a fan of the greater Heber Valley area, as the population density is growing significantly greater than the infrastructure. Running to the store for a gallon of milk in the greater Heber Valley area might be a stressful activity.
Another area that I think is the best value in home prices west of the Mississippi River is the Texas "Tropical Trail" from South Padre Island to Laredo, TX. This area has affordable homes and is a job/ industry growth area. In just the last three months I have seen significant increases in housing costs. The plus to this area is a lot of open land, not a lot of red tape to build, and competitive and ample labor for single family home construction.
Just like it was when I was a young person buying my first home in 1984, it may take working a second or third job to get into a single-family home today- deals are not out there for desirable homes.
Interest rates are creeping up, but that is not hampering the sale of good homes. I study 16 housing markets west of the Mississippi River weekly. I was shocked to see the greater Heber Valley, UT area with a projected seven percent year over year increase in 2024. Note the greater Hever Valley area has seen well over a double of housing prices on a MACRO basis in under five years. In 2015-2016, it was not so easy to sell a home in the greater Heber Valley. I am not a fan of the greater Heber Valley area, as the population density is growing significantly greater than the infrastructure. Running to the store for a gallon of milk in the greater Heber Valley area might be a stressful activity.
Another area that I think is the best value in home prices west of the Mississippi River is the Texas "Tropical Trail" from South Padre Island to Laredo, TX. This area has affordable homes and is a job/ industry growth area. In just the last three months I have seen significant increases in housing costs. The plus to this area is a lot of open land, not a lot of red tape to build, and competitive and ample labor for single family home construction.
Just like it was when I was a young person buying my first home in 1984, it may take working a second or third job to get into a single-family home today- deals are not out there for desirable homes.
