Is Park City in Another Housing Bubble?

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  1. Humm, well housing prices may seem to rising in some areas. Here in the Coachella Valley, we are experiencing a lack of inventory. Is it driving prices up? No. Home buyers are more demanding in what they seek in terms of desirousness. Home sellers are bringing their coastal notions to the area. What we have is a strange stationary front. Homes get listed overpriced and then fall in price when they don’t sell. Desirous homes that are priced right get sold within a couple days of being placed in MLS or sold within a brokerages coming to market closed circuit.
    Mortgages are tied to the money market, and it’s not buying back notes. Qualifications rules have not changed. Now should the Feds start buying back notes, money will become less available in turn drive up mortgage rates that will impact home value. However, it would seem more likely that the qualification rules will change, which will muddy it up.
    Be more concerned with how the tax change will impact the secondary home markets as well as markets will accelerating home values. That home valued over $1M is going to take longer when a mortgage is sought. $10K SALT and caps on interest at $750K dampen the party.

    1. Thank you for your comment. I wrote that blog in 2016 and prices have only gone higher in my market.

  2. Thanks Nancy for informative post. I spent a lot of time to learn about real estate investment in Minnesota. House prices is rising in my area in recent time. I think that is a good signal for people like me.

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