Home Forums Hunting & Shooting Hunter's Campfire Housing Market, are we past the peak?

There are some signs that could be viewed as a early warning.

Zillow is dumping their inventory,

Bloomberg reported Monday that Zillow is looking to sell about 7,000 homes, and is seeking roughly $2.8 billion for the houses.

This is the homes they have purchased to re-hab and re-sell.

They are also laying off 2000 employees.

Some articles claim they are wholesaling them off in bulk lots.

Zillows saying they just couldn't turn a profit with their house flipping business so they are stepping down.

The way I see it with over 5,000 employees they should have a damn good idea of how things are going.

They also should have been able to stay in the green flippin houses if the rest of us could.

It's just not what they are saying, I wouldn't be saying the sky is about to fall either if I had 7,000 houses to unload.

Regardless of what is said or being speculated, they are dumping their entire inventory no matter how you slice it.

Time will tell.

I started unloading every thing I acquired after the 2007 crash 18 months ago. Maybe a little premature but I did fine and I'm beyond it.

Zillow to shutter home buying busin...oyees as its big real estate bet falters


Red-hot US housing market begins to cool

The house we've been looking at buying for a nice rental was listed in August(for way too much money).

Owners have dropped the price about 20%.

It's now getting close to what I'd pay.

It'll be interesting to see what happens when the FED starts raising rates.

I’m looking for a commercial property in the wet part of Washington, and while real estate prices are high, the market isn’t “hot”. It’s higher than he# in the metro area, but things really aren’t moving all that fast. Outside the metro an hour or so, properties are sitting for extended periods of time, we’re looking at one that’s been on the market for 18 months, is priced pretty attractive, but no takers. We’ll make a low ball offer in a couple of weeks, see what they come back with.

Yep. It's happening.

The house across the street literally sold for 200k more than I think it was worth. There was a bidding war higher than list price. Happened several times in my neighborhood. I think a giant crash is coming...

Things are still moving pretty well in NW MT, it's going to take a few years to catch up with the population. I'm tempted to punch out and buy a cheaper place farther south, maybe southern Idaho and retire early if I can afford health insurance.

All spring & summer there would be bidding wars over any house F/S here, & they would sell in just a few days.

Then about the middle of September it was like everything just skidded to a halt.

Considering Zillow didn't give a damn what they paid, and are now selling for what they are worth. Got caught manipulating zestimates. They deserve the stock plummet of 30%. The market is cooling, but it's still way harder for people to get money than 2000-2008. Especially the people who have zero business buying a home. So I guess my stance is, yes the market will go down eventually, it's the nature of any market. There have been what, 6 Recessions, in housing since the 70's. Most people made it through them with the exception of 2008. I doubt it gets that bad just because so many lending laws have changed.

there's going to be a lot of unside down mortgages about this time next year after the fed raises interest rates and the rona chews its way through the working population. but i'm sure the govt will take care of us.

Hope Zillow loses their azz. They thrived on creating "optimistic" estimates of value only to try to cash in on their own predictions.

Upside down or unable to pay. Lot of difference. A lot of people are buying now, going into it knowing that in the short term the market could change and they will owe more than its worth. But if they wait and interest rates go up it can more than offset any saving up front. In 10 years and your house is worth 400k. What does it matter if you pay 325 instead of 300. Look at your finances, do the math yourself. That shouldn't be a job for realtors or lenders. The agent should find the best possible fit and the lender should find the best terms after you know that you can afford it.

Who has two houses, or houses they dont live in?



You dumbshits are just trying to get picked off by AOC aint ya??

Houses around here are dang near 3x’s what I paid for mine in 2014. I also wouldn’t want to live where they are going in at now. Near a weed store and convenient store, and a trucking company’s parking lot. This is about 1.5 miles from me, but still the same neighborhood. A new house just went on the market there for $936K.

Zillow says my house is worth $6,600 less than it was a month ago. Doesn’t matter to me as we have no plans to move. Contemplated selling out and buying more land but I just don’t know if I want the hassle of building again

Prices will drop fast after demand gets hammered.
Closed on two rental properties and one flip house in the last two weeks. No regrets at this point. If inflation keeps up at current pace, it might look like I gave them away next year. Rentals were older and due for interior refit. Putting the money into brand new units we’re building ourselves.
Lots of equity, tax incentives and a place to put the money it was a no brainer.


Zillow was using a computer algorithm to purchase house on a large scale. They weren’t winning enough bids and adjusted the algorithm to pay more, and apparently overpaid on a pile of properties. Stupidity, and they get what they deserve.

Residential construction is still going strong in N.C., as northeasterners continue to pour in here.

Hope to build and maybe moving into new in just over a year.

I hope it keeps climbing.

Definitely slowing down. It was absolutely ridiculous this summer.

Seems a lot of mortgages that went into forbearance during the last year and a half are getting put on the market. If rates get back to reasonable levels, or at least not dicknothing levels, it will pump the brakes as well.

Jeff, zillow's buy model was terrible. That's why they're in the crunch they are. They were trying to use CA style algorithms to make buy decisions from the Ivory Tower. That doesn't work everywhere, IMHO.

Yes, that's what they are saying, good story, probably true.

But I think they'd have their finger on the pulse of the market better than any of us and they are dumping 7,000 houses, so there is that.

You gotta figure they are looking out for themselves.
The money invested in those homes isn't theirs, it's investor money, it's hedgefund money.

If the market takes a big downward swing in the next 6 to 8 months they'll come out looking like heros for dumping the inventory now.
It'll be as if they predicted the fall and saved their investors a ton of cash.

Time will tell..