Neighborhood Open House

drizzellla · ‎03-14-2010

I do not know what is going on. We were driving home from the store. Pulled into our development and there was a line of people standing 6" apart from one another. There were so many people the line went across the front of the house, down the driveway and up the street past the next door neighbor's house.

It was an Open House. I could not believe that many people wanted to look at the house and were waiting in line to check the house out. And all I saw was one little sign advertising the Open House. I do not understand.

In June our next door neighbor put their house up for sale. The house was sold in about 2 hours. Whoever bought it promptly put the house on the market for $50,000 more than he paid. And the house sold in 2 days. Is the housing market that crazy?

LonestarBabs · ‎06-26-2011

Yes, in many markets it is just that crazy.

Kachina624 · ‎03-10-2010

I hear there's a low inventory of homes for sale, and it's a seller's market. People are "nesting" and don't want to move.

New Mexico☀️Land Of Enchantment

jeanlake · ‎03-10-2010

Son is in remodeling and solar energy business. With so many people being home bound in 2020, they've decided to remodel homes and make additions to garages, courtyards/decks and rooms. In fact, there's a lumber shortage. We're trying to remodel the deck and have quite a wait ahead of us. Hubs sold his parents' home quickly. The starter home son bought was on the market for 3 days and he paid full asking price. Interests rates are low.

"I took a walk in the woods and came out taller than the trees." Henry David Thoreau

Johnnyeager · ‎09-05-2014

The housing market in suburban and ex-urban New York has exploded. There is a huge demand for houses in the counties north of New York City, with a supply shortage. Definitely a seller's market in those areas.

PA Mom-mom · ‎05-27-2015

@drizzellla The market here in SE Pennsylvania is absolutely crazy. Our son is looking for a starter home. So is everyone else. Forget the asking price, you have to go much higher with your first bid.

drizzellla · ‎03-14-2010

@PA Mom-mom wrote:
@drizzellla The market here in SE Pennsylvania is absolutely crazy. Our son is looking for a starter home. So is everyone else. Forget the asking price, you have to go much higher with your first bid.

That is where I live in SE Pennsylvania, in Bucks County.

PS - You just reminded me. When the first guy bought the house next door. Even though he bought it within 2 hours, he paid $30,000 over the asking price. As soon as the owner accepted, he turned around and put it back on the market for $50,000 more.

PA Mom-mom · ‎05-27-2015

@drizzellla Montco here. We're neighbors!

happycat · ‎09-18-2010

Homes are selling like hotcakes in Northwest Arkansas, in hours sometimes. And a lot of people are paying with cash. Its making it hard for my dd to buy a house there. I thought money was money, even if it was borrowed but apparantly not.

Not much is on the market in the area where I live. If its not a dump, it goes quick.

happycat · ‎09-18-2010

@drizzellla wrote:
@PA Mom-mom wrote:
@drizzellla The market here in SE Pennsylvania is absolutely crazy. Our son is looking for a starter home. So is everyone else. Forget the asking price, you have to go much higher with your first bid.

That is where I live in SE Pennsylvania, in Bucks County.

PS - You just reminded me. When the first guy bought the house next door. Even though he bought it within 2 hours, he paid $30,000 over the asking price. As soon as the owner accepted, he turned around and put it back on the market for $50,000 more.

@drizzellla, I'm just curious, did the neighbor get the 50,000 more?