Community Chat

[gertrudecloset]

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@homedecor1 wrote:

Not here the houses sell so fast they don't even get the realtors sign on the yard.

If I was in the position to do so I'd sell in a minute and move into the new over 55 villas they've built near us.  They are beautiful and offer the nicest amenities - no golf course but I don't golf so that would be ok for me.

The houses are being sold sometimes $20-30,000 over asking -- I just scratch my head!

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@homedecor1I've looked into some of these in another state and the ones that I looked at have an "entrance fee."  You do own the home, but I'm not sure about these 55+ communities.  Read and research very carefully unless you already know someone who does it and can explain it to you. 

Sounds like you put your down payment + a fee to "come in."  Check it out.

[KathyM23]

A friend of mine is selling her house and on Open House Day, six people showed much interest in buying.  They are outbidding each other and so far it is up to $30k more than her asking price.

[BoopOMatic]

@phoenixbrd  Thank you! Yes, we've been monitoring the websites like realtor dot com and zillow and I always check the property history and needless to say, I've seen several surprises! I hope other people will do the same or they'll be out a lot of extra $$$.

[gidgetgh]

I haven't been really actively monitoring, but from what I hear in my area of Atlanta, things maybe have cooled down a little. 

I am so thankful that I sold our old house and closed in mid-February at the very height of the frenzy.  Our top offer came in on the first day. 9 offers in 3 days and it sold for a lot higher than asking price.  And I thought the asking price my realtor set was ambitious.  The buyers overpaid, at least in my opinion, but that's what the market was doing, at least then.  Not my problem.

And I was able to lock in the price for my new build in May of last year, so I lucked out with that also. 

I was just so thankful, for both. 

[gertrudecloset]

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@BoopOMatic wrote:

@phoenixbrd  Thank you! Yes, we've been monitoring the websites like realtor dot com and zillow and I always check the property history and needless to say, I've seen several surprises! I hope other people will do the same or they'll be out a lot of extra $$$.

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In what areas are you looking?  The housing market can be confusing.  Buyer's market vs. seller's market and so on.  Since the rates have gone up (to slow inflation) people won't be able to afford to buy what they thought they could have unless they get a big fat raise.

[ThinkingOutLoud]

Haven't read the replies so this may have been mentioned but a few days ago I saw a graph (zillow) that 'blue areas' are dropping but 'red areas' are not or not as much. 

[drizzellla]

I have not seen prices drop in our area. But I must say there doesn't seem to be the frenzy there was a few months ago. 

My niece sold her house $30,000 over asking price and $100,000 above the price she paid 3 years before. The neighbor next door bought his house $50,000 over asking price. It was crazy to watch.

@BoopOMatic One thing to keep an eye out for - The Federal Reserve. They bumped up the interest rate. And there is talk they are going to bump it up again.

When we bought our house we paid 16.5% interest. And we had a VERY HARD time finding a bank to give us a mortgage. My husband had banks hang up on him when he inquired about a mortgage. Our Realtor pulled strings for us and had a friend of hers write up a mortgage for us. It was a sweet deal for the bank. Points, 16.5% interest and a 3 month penalty if we refinanced. And we were putting down 20% cash and both my husband and I were at our jobs for over 10 years each.  

[pieman]

In your case, people want out of CA.

Its the most messed up state, I mean with the migrants, homeless , taxes and governor, why would anyone want to move there. Now the governor speaks of wanting to use Human Compose!<<<  Whats he crazy!

I mean no disrespect to you, but if I were you, I'd lower your price, take the first offer you get and get out of that state before it gets any worse. Something sitting for 2 months now, is getting stale and viewers and other agents see it.

We are in FL and keep getting calls if we are interested in selling. Now, I know many fly-by- night companies make a habit of dropping post cards in the mailbox to inquire about purchasing cheap, but most of them here have been legit. 

We haven't yet put it on the market but are seriously thinking of it,  if the FEDS would just stop raising the interest rates! 

Good luck  with your sale..

[Porcelain]

Every bubble eventually pops.

[gertrudecloset]

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@pieman wrote:

In your case, people want out of CA.

Its the most messed up state, I mean with the migrants, homeless , taxes and governor, why would anyone want to move there. Now the governor speaks of wanting to use Human Compose!<<<  Whats he crazy!

I mean no disrespect to you, but if I were you, I'd lower your price, take the first offer you get and get out of that state before it gets any worse. Something sitting for 2 months now, is getting stale and viewers and other agents see it.

We are in FL and keep getting calls if we are interested in selling. Now, I know many fly-by- night companies make a habit of dropping post cards in the mailbox to inquire about purchasing cheap, but most of them here have been legit. 

We haven't yet put it on the market but are seriously thinking of it,  if the FEDS would just stop raising the interest rates! 

Good luck  with your sale..

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Can you provide us a resource with your theory of people wanting out of California?  The same could be said for many high real estate states.  Hawaii being another.

Let's also not forget that when people move out, others move in.  That would be those who can afford to live there.  This happens all the time in NY and I'm sure it happens in other high housing states @pieman