Weldon Williford

REALTOR-Eastern NC, Founder of Economics, Health & Sports. Christian 🕆, Conservative 🇺🇸 NCSU '98

[Weldon Williford @weldonwilliford]

I really do try to interact with and have legitimate conversations with people on topics, but if your full intentions are not to seek more information but just be completely adversarial, you are getting blocked. I don't get paid to be on X. This is for learning not arguing.

[Nick • Tenantry @nick_tenantry]

@weldonwilliford @jonbrooks Yeah it really comes down to the market. I'm actually located in eastern NC (Wilmington). Slightly less affordable at the moment but expected with that coastal living

[Weldon Williford @weldonwilliford]

@nick_tenantry @jonbrooks This map makes sense. No wonder anyone who lives on the west coast argues vehemently with me when I say things are balanced here in eastern NC pretty much. We are seeing multiple offers on many quality homes and builders selling multiple homes in one weekend in some areas.

[Weldon Williford @weldonwilliford]

@Sports_FanOnly @jonbrooks It takes time for these things to present themselves and I'm seeing more and more of it. Crawlspace repair companies are booming and also 1970's subfloors are often compressed sawdust that disintegrate. Funky window designs that cost a fortune to have custom replacements made.

[Weldon Williford @weldonwilliford]

@Sports_FanOnly @jonbrooks The crappy construction in 1970's is also starting to rear it's ugly head. Lax building codes and cheap materials from that high inflation era is causing homes not to age well. Long spans of floor joists with 2×8's sagging and poor moisture control = $30k+ foundation repairs.

[Weldon Williford @weldonwilliford]

@VladTheInflator Dollar may crash faster. Those waiting for a "crash" may be paying inflated rents just like the ones now who waited for the "crash" 3 years ago when people started predicting it. A price correction in a metro or vacation market isn't a crash. Barring a bond crash, of course.

[Weldon Williford @weldonwilliford]

@g0lden8ge @JokerJill69 A starter home doesn't have a garage and typically 1000-1250 sqft, at most, historically. First time buyers turn their nose up at that home now in most markets and there is little profit in them anyway, so they don't get built. Many stay with parents until they save up more.

[Weldon Williford @weldonwilliford]

@RealJohnGaltFla @MrAwsumb Most areas are priced based upon on 2 avg incomes for that particular area or one high income earner typically. Nurses and higher paid individuals buy homes all the time.

[End Wokeness @EndWokeness]

Cleveland realtor is shot at as he films an ad for a home. Good luck selling it now.

[Weldon Williford @weldonwilliford]

@jonbrooks Depends on the market. Here it's only a few hundred per month difference with a low down payment. Lay $100k down and it cash flows easily.

[Weldon Williford @weldonwilliford]

@jonbrooks I can clearly see it in the data where older homes sit on the market 2 to 3 times longer than newer homes. It's clear as day. As I have said in other posts, these older homes don't add to supply because it's as if they don't exist to the majority of home buyers.

[Weldon Williford @weldonwilliford]

@jonbrooks Also, it's easier to finance a home thats already remodeled or new, than to finance a remodel for first time home buyers and many just don't want the headache.

[Weldon Williford @weldonwilliford]

@RollLibertyRoll @Real_Landlord7 @EricSpracklen I'm GenX and 27 years of real estate experience. I also have an economic background from college, just decided real estate instead of taking series 7 for financial advising. Call it BS if you want. It's an expert opinion. I see old houses sit while young people buy new every day.

[Weldon Williford @weldonwilliford]

@RollLibertyRoll @Real_Landlord7 @EricSpracklen Many of these outdated homes are just bought by small investors and turned into rentals. It's a good way to get cash flowing properties at a bargain. Rent rates are partially driven by inflation so this will keep a floor on home prices. Especially with DSCR loans.

[Weldon Williford @weldonwilliford]

@RollLibertyRoll @Real_Landlord7 @EricSpracklen I have been in the business for 27 years and have seen this shift over time. These boomer homes are often all original with little updating, old roofs etc. So they really don't add to the "supply" because there isn't demand for them. It's almost as if they don't exist.

[Weldon Williford @weldonwilliford]

@partridge96907 @VladTheInflator The most disappointing thing is that cabinet makers seem to have all merged into Aristocraft and no matter the builder, they all use some form of that brand. Their lower and middle grade doors look like absolute junk to me with unfinished edges.

[Weldon Williford @weldonwilliford]

@partridge96907 @VladTheInflator That being said, I do recommend using local builders even though the cost is a little more if you plan to stay in a home long term. There are some decent regional builders also that if you get them inspected are pretty good for the price, but expect to update some things sooner.