[gn]

[quote=sdrealtor]FWIW, I am starting to see a seasonal slow down hitting on my new listings. I do see multiple offers on well priced nice properties still going on but they arent getting bid up much. I also dont see houses going anywhere close to 20% over list.[/quote]

sdrealtor, based on your experience, this “seasonal slowdown” extends until when ? The end of Feb. ?

[gn]

[quote=sdrealtor]FWIW, I am starting to see a seasonal slow down hitting on my new listings. I do see multiple offers on well priced nice properties still going on but they arent getting bid up much. I also dont see houses going anywhere close to 20% over list.[/quote]

sdrealtor, based on your experience, this “seasonal slowdown” extends until when ? The end of Feb. ?

[gn]

[quote=sdrealtor]FWIW, I am starting to see a seasonal slow down hitting on my new listings. I do see multiple offers on well priced nice properties still going on but they arent getting bid up much. I also dont see houses going anywhere close to 20% over list.[/quote]

sdrealtor, based on your experience, this “seasonal slowdown” extends until when ? The end of Feb. ?

[gn]

[quote=sdrealtor]FWIW, I am starting to see a seasonal slow down hitting on my new listings. I do see multiple offers on well priced nice properties still going on but they arent getting bid up much. I also dont see houses going anywhere close to 20% over list.[/quote]

sdrealtor, based on your experience, this “seasonal slowdown” extends until when ? The end of Feb. ?

[gn]

[quote=sdrealtor]FWIW, I am starting to see a seasonal slow down hitting on my new listings. I do see multiple offers on well priced nice properties still going on but they arent getting bid up much. I also dont see houses going anywhere close to 20% over list.[/quote]

sdrealtor, based on your experience, this “seasonal slowdown” extends until when ? The end of Feb. ?

[gn]

[quote=AN]gn, I know about the tax situation in TX, but how can TX’s big city have cheaper home prices than small cities in CA, like Fresno. Fresno is still a good 2-2.5 hrs away from San Jose. Would be a killer commute. It’s almost like working in SD and live in Palmsprings. The amount of people who can put up w/ 2-2.5hr one way commute is extremely small. So I don’t buy that reasoning as to what’s keeping Fresno’s prices up.[/quote]

AN,

Here’s how I see it. Let’s say the cost of an entry level SFH in a certain city is $400k. If the cost of a similar SFH in another city (2 hours driving away) is $100k, then it’s considered a great bargain. In this case, there are always people who:

– Want one spouse to be able to stay home with the kids, so they decide to sell their $400k house & move 2 hours away.
– Are retirees who don’t have to commute to work & sell their house & move 2 hours away so they can get the low cost of living & still be close to their friends & families.

So, Fresno & Bakersfield, because they are “not too far” from high-priced metro areas get some influx of money that spill over from the high-price areas. That’s why it’s higher than other places like Dallas or Houston.

I’m not saying that this is the only factor. It’s one of the factors.

[gn]

[quote=AN]gn, I know about the tax situation in TX, but how can TX’s big city have cheaper home prices than small cities in CA, like Fresno. Fresno is still a good 2-2.5 hrs away from San Jose. Would be a killer commute. It’s almost like working in SD and live in Palmsprings. The amount of people who can put up w/ 2-2.5hr one way commute is extremely small. So I don’t buy that reasoning as to what’s keeping Fresno’s prices up.[/quote]

AN,

Here’s how I see it. Let’s say the cost of an entry level SFH in a certain city is $400k. If the cost of a similar SFH in another city (2 hours driving away) is $100k, then it’s considered a great bargain. In this case, there are always people who:

– Want one spouse to be able to stay home with the kids, so they decide to sell their $400k house & move 2 hours away.
– Are retirees who don’t have to commute to work & sell their house & move 2 hours away so they can get the low cost of living & still be close to their friends & families.

So, Fresno & Bakersfield, because they are “not too far” from high-priced metro areas get some influx of money that spill over from the high-price areas. That’s why it’s higher than other places like Dallas or Houston.

I’m not saying that this is the only factor. It’s one of the factors.

[gn]

[quote=AN]gn, I know about the tax situation in TX, but how can TX’s big city have cheaper home prices than small cities in CA, like Fresno. Fresno is still a good 2-2.5 hrs away from San Jose. Would be a killer commute. It’s almost like working in SD and live in Palmsprings. The amount of people who can put up w/ 2-2.5hr one way commute is extremely small. So I don’t buy that reasoning as to what’s keeping Fresno’s prices up.[/quote]

AN,

Here’s how I see it. Let’s say the cost of an entry level SFH in a certain city is $400k. If the cost of a similar SFH in another city (2 hours driving away) is $100k, then it’s considered a great bargain. In this case, there are always people who:

– Want one spouse to be able to stay home with the kids, so they decide to sell their $400k house & move 2 hours away.
– Are retirees who don’t have to commute to work & sell their house & move 2 hours away so they can get the low cost of living & still be close to their friends & families.

So, Fresno & Bakersfield, because they are “not too far” from high-priced metro areas get some influx of money that spill over from the high-price areas. That’s why it’s higher than other places like Dallas or Houston.

I’m not saying that this is the only factor. It’s one of the factors.

[gn]

[quote=AN]gn, I know about the tax situation in TX, but how can TX’s big city have cheaper home prices than small cities in CA, like Fresno. Fresno is still a good 2-2.5 hrs away from San Jose. Would be a killer commute. It’s almost like working in SD and live in Palmsprings. The amount of people who can put up w/ 2-2.5hr one way commute is extremely small. So I don’t buy that reasoning as to what’s keeping Fresno’s prices up.[/quote]

AN,

Here’s how I see it. Let’s say the cost of an entry level SFH in a certain city is $400k. If the cost of a similar SFH in another city (2 hours driving away) is $100k, then it’s considered a great bargain. In this case, there are always people who:

– Want one spouse to be able to stay home with the kids, so they decide to sell their $400k house & move 2 hours away.
– Are retirees who don’t have to commute to work & sell their house & move 2 hours away so they can get the low cost of living & still be close to their friends & families.

So, Fresno & Bakersfield, because they are “not too far” from high-priced metro areas get some influx of money that spill over from the high-price areas. That’s why it’s higher than other places like Dallas or Houston.

I’m not saying that this is the only factor. It’s one of the factors.

[gn]

[quote=AN]gn, I know about the tax situation in TX, but how can TX’s big city have cheaper home prices than small cities in CA, like Fresno. Fresno is still a good 2-2.5 hrs away from San Jose. Would be a killer commute. It’s almost like working in SD and live in Palmsprings. The amount of people who can put up w/ 2-2.5hr one way commute is extremely small. So I don’t buy that reasoning as to what’s keeping Fresno’s prices up.[/quote]

AN,

Here’s how I see it. Let’s say the cost of an entry level SFH in a certain city is $400k. If the cost of a similar SFH in another city (2 hours driving away) is $100k, then it’s considered a great bargain. In this case, there are always people who:

– Want one spouse to be able to stay home with the kids, so they decide to sell their $400k house & move 2 hours away.
– Are retirees who don’t have to commute to work & sell their house & move 2 hours away so they can get the low cost of living & still be close to their friends & families.

So, Fresno & Bakersfield, because they are “not too far” from high-priced metro areas get some influx of money that spill over from the high-price areas. That’s why it’s higher than other places like Dallas or Houston.

I’m not saying that this is the only factor. It’s one of the factors.

[gn]

[quote=AN]CAR, question is, have you been to Fresno, Sanger, Barstow, Bakersfield? There are A LOT of flat usable land there too. I can bet you there’s more land in Fresno ready for development than Dallas or Houston or Austin. There are A LOT more high paying jobs in those TX states than Fresno, Bakersfield, etc. Yet, how come property price is cheaper in those TX area than even Fresno?
[/quote]

In Texas, there’s no state income tax. But the property tax is higher. Effectively, the state income tax is included in the property tax.

This has the effect of discouraging speculation. If a John Doe owns 1 primary residence & 3 rental houses, he is paying much more than his share of state income tax.

I think one of the reasons that home prices in Fresno, Sanger, Barstow, Bakersfield are higher than TX is because they are within commuting distance to high prices areas.

Believe it or not, many people work in the bay area & live in Fresno.

Another factor: since prices in LA, SF, SD are so high, the prices in the surrounding areas are also “lifted” because many retirees sell homes in LA, SF, SD & move 80 miles away to benefit from the low prices and still be close to their families.

[gn]

[quote=AN]CAR, question is, have you been to Fresno, Sanger, Barstow, Bakersfield? There are A LOT of flat usable land there too. I can bet you there’s more land in Fresno ready for development than Dallas or Houston or Austin. There are A LOT more high paying jobs in those TX states than Fresno, Bakersfield, etc. Yet, how come property price is cheaper in those TX area than even Fresno?
[/quote]

In Texas, there’s no state income tax. But the property tax is higher. Effectively, the state income tax is included in the property tax.

This has the effect of discouraging speculation. If a John Doe owns 1 primary residence & 3 rental houses, he is paying much more than his share of state income tax.

I think one of the reasons that home prices in Fresno, Sanger, Barstow, Bakersfield are higher than TX is because they are within commuting distance to high prices areas.

Believe it or not, many people work in the bay area & live in Fresno.

Another factor: since prices in LA, SF, SD are so high, the prices in the surrounding areas are also “lifted” because many retirees sell homes in LA, SF, SD & move 80 miles away to benefit from the low prices and still be close to their families.

[gn]

[quote=AN]CAR, question is, have you been to Fresno, Sanger, Barstow, Bakersfield? There are A LOT of flat usable land there too. I can bet you there’s more land in Fresno ready for development than Dallas or Houston or Austin. There are A LOT more high paying jobs in those TX states than Fresno, Bakersfield, etc. Yet, how come property price is cheaper in those TX area than even Fresno?
[/quote]

In Texas, there’s no state income tax. But the property tax is higher. Effectively, the state income tax is included in the property tax.

This has the effect of discouraging speculation. If a John Doe owns 1 primary residence & 3 rental houses, he is paying much more than his share of state income tax.

I think one of the reasons that home prices in Fresno, Sanger, Barstow, Bakersfield are higher than TX is because they are within commuting distance to high prices areas.

Believe it or not, many people work in the bay area & live in Fresno.

Another factor: since prices in LA, SF, SD are so high, the prices in the surrounding areas are also “lifted” because many retirees sell homes in LA, SF, SD & move 80 miles away to benefit from the low prices and still be close to their families.

[gn]

[quote=AN]CAR, question is, have you been to Fresno, Sanger, Barstow, Bakersfield? There are A LOT of flat usable land there too. I can bet you there’s more land in Fresno ready for development than Dallas or Houston or Austin. There are A LOT more high paying jobs in those TX states than Fresno, Bakersfield, etc. Yet, how come property price is cheaper in those TX area than even Fresno?
[/quote]

In Texas, there’s no state income tax. But the property tax is higher. Effectively, the state income tax is included in the property tax.

This has the effect of discouraging speculation. If a John Doe owns 1 primary residence & 3 rental houses, he is paying much more than his share of state income tax.

I think one of the reasons that home prices in Fresno, Sanger, Barstow, Bakersfield are higher than TX is because they are within commuting distance to high prices areas.

Believe it or not, many people work in the bay area & live in Fresno.

Another factor: since prices in LA, SF, SD are so high, the prices in the surrounding areas are also “lifted” because many retirees sell homes in LA, SF, SD & move 80 miles away to benefit from the low prices and still be close to their families.

[gn]

[quote=AN]CAR, question is, have you been to Fresno, Sanger, Barstow, Bakersfield? There are A LOT of flat usable land there too. I can bet you there’s more land in Fresno ready for development than Dallas or Houston or Austin. There are A LOT more high paying jobs in those TX states than Fresno, Bakersfield, etc. Yet, how come property price is cheaper in those TX area than even Fresno?
[/quote]

In Texas, there’s no state income tax. But the property tax is higher. Effectively, the state income tax is included in the property tax.

This has the effect of discouraging speculation. If a John Doe owns 1 primary residence & 3 rental houses, he is paying much more than his share of state income tax.

I think one of the reasons that home prices in Fresno, Sanger, Barstow, Bakersfield are higher than TX is because they are within commuting distance to high prices areas.

Believe it or not, many people work in the bay area & live in Fresno.

Another factor: since prices in LA, SF, SD are so high, the prices in the surrounding areas are also “lifted” because many retirees sell homes in LA, SF, SD & move 80 miles away to benefit from the low prices and still be close to their families.

[Author]

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