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jeeper

jeeper

Currently without Jeep
Location
So Jo, Ut

It will be interesting to see how this shooting gets talked about in the media. This police chief gives credit for stopping the shooting to the “hero“ with a concealed carry gun. The shooter had a long gun with multiple magazines. What could have been a very deadly situation was stopped as soon as it began.
 
TRD270

TRD270

Emptying Pockets Again
Supporting Member
Location
SaSaSandy
jeeper said:

It will be interesting to see how this shooting gets talked about in the media. This police chief gives credit for stopping the shooting to the “hero“ with a concealed carry gun. The shooter had a long gun with multiple magazines. What could have been a very deadly situation was stopped as soon as it began.
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As I’ve seen it zero times before seeing it here that’s my guess as to how the media plays it. Ministry of information only says guns are bad. Guns that are good are not news worthy
 
jeeper

jeeper

Currently without Jeep
Location
So Jo, Ut
Figured this is as good of a spot as any for this..

I am working on an appraisal for a home in Sandy, UT right now. Mid '90's, 2 story, 4,000sf ish. Listed in early June for about $1,150,000. asking priced lowered to about $1,050,000, and actual sales price is going to be around $950,000. Multi recent sales and current listings follow a similar pattern.
The best comparable I can find pre-interest rate hikes was listed in March at $1,150,000 and sold for $1,450,000.

That's a $500,000 value swing in sales prices in 4 months! almost 1/3 of the home value!

Assuming a 3.0% rate in March, and a 6.75% rate now, the $1,450,000 home and the $950,00 have the almost the exact same payment of about $6,200/month.

Now, there may be more to the story, and I haven't done all my research to find out if there are other circumstances involved.. and maybe this is an extreme example anyway, and is probably not typical.. But I found it very interesting.
 
P

Pike2350

Registered User
Location
Salt Lake City
I have noticed that when I look at the listings (stupid, nerd thing I do daily) there are far more homes listed starting 4 or 5, where a few months ago I would've seen 5 or 6 or 7. I have even seen a few in the 3xx,xxx price range for single family homes. Seems that the rate hikes really cooled the market. As you said @jeeper the payment tends to be very similar when you look at the 3% interest rates and inflated prices, to the higher rates and "lower" prices. I know on the rental I bought early in 2021, if I were to buy the same house today at the same price, just the current interest rate, I'd be paying an extra $900-$1k per month. Those rate hikes are no joke.
 
Herzog

Herzog

somewhat damaged
Admin
Location
Wyoming
jeeper said:
Figured this is as good of a spot as any for this..

I am working on an appraisal for a home in Sandy, UT right now. Mid '90's, 2 story, 4,000sf ish. Listed in early June for about $1,150,000. asking priced lowered to about $1,050,000, and actual sales price is going to be around $950,000. Multi recent sales and current listings follow a similar pattern.
The best comparable I can find pre-interest rate hikes was listed in March at $1,150,000 and sold for $1,450,000.

That's a $500,000 value swing in sales prices in 4 months! almost 1/3 of the home value!

Assuming a 3.0% rate in March, and a 6.75% rate now, the $1,450,000 home and the $950,00 have the almost the exact same payment of about $6,200/month.

Now, there may be more to the story, and I haven't done all my research to find out if there are other circumstances involved.. and maybe this is an extreme example anyway, and is probably not typical.. But I found it very interesting.
Click to expand...
Another example that just dropped price today (was right down the road from me)
1658248586671.png
 
kmboren

kmboren

Recovering XJ owner anonymous
Location
Southern Utah
Herzog said:
I think it's actually pretty typical. We sold our home end of May. A week later none of the other homes were selling. I'm still watching the market there and they are dropping prices huge chunks at a time. It is ridiculous. I wasn't going to participate but we essentially traded our last home for the new one so to me it's sixes... I expect the value of my new home to drop.
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Nice timing on your part.
 
N-Smooth

N-Smooth

Smooth Gang Founding Member
Location
UT
Shoot when we bought our first house in Jan ‘07 the rate for our 80% was 6.375 and the 20 was an 8.875% balloon. I was blown away by the 2.875 on our new house. It’s so nice
 
0

02SE

Active Member
Location
Millcreek, UT
jeeper said:

It will be interesting to see how this shooting gets talked about in the media. This police chief gives credit for stopping the shooting to the “hero“ with a concealed carry gun. The shooter had a long gun with multiple magazines. What could have been a very deadly situation was stopped as soon as it began.
Click to expand...

Here's several articles from a news agency local to the mall.

At least they are giving credit where it's due. The young man who took out the terrorist, gives me hope for the generation now coming of age. He returned fire at the little puke terrorist from 40 yards, across a food court, and hit the coward 8 out of 10 times with what I understand was a Glock 19 with regular sights. That's remarkable shooting.

https://www.wthr.com/article/news/s...ctim/531-fb83dc76-24c2-4e72-b5fb-573be0e589ef
 
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