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[Natureluvr]

@drizzellla my daughter and son-in-law have been looking for their first time home in the mainline area of Pennsylvania and they can’t find anything that doesn’t sell within 2 to 3 days! They too thought the market would slow down by now and are increasingly frustrated that every property they’re interested in has a bidding war! They are sick to know that many of the homes they’re interested in sold for substantially less just a few years ago.

[drizzellla]

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@Natureluvr wrote:
@drizzelllamy daughter and son-in-law have been looking for their first time home in the mainline area of Pennsylvania and they can’t find anything that doesn’t sell within 2 to 3 days! They too thought the market would slow down by now and are increasingly frustrated that every property they’re interested in has a bidding war! They are sick to know that many of the homes they’re interested in sold for substantially less just a few years ago.

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It was sad to read what your Daughter is going through. My son has been dealing with a similar situation. Plus his company was just sold. So they don't know if they have a job with the new company. 

We live in Bucks County and the situation is crazy, like the Mainline. I feel so bad for first time buyers. It seems like all new construction are these huge condo complexes. The starting price is $500 thousand on up. Or single homes that are much higher and huge with very little ground.

I can't believe it - here it is 8:52 AM. There are already cars sitting in front of the house for sale. Just counted there are 6 cars.

[wagirl]

I sold my house in a frenzy of house selling Jan of 2021-----built it in 1986 for under $100,00 including 2 1/2 acres of land and sold it for over $900,000!!! Had 10 offers ---it went on the market on Friday afternoon and sold that Sunday!! I still can't get my head around that whirlwind of crazy, bet there was  over 100 people walking thru it all weekend---and it was not anything special--just a box  really. 

[Jaspertimes]

There are a lot of people with cash to buy a house so the interest rate doesn't matter at all.  Also, there are tons of foreign investors.  I live in a college town close to campus and I get texts, calls and postcards everyday wanting me to sell.

[drizzellla]

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@Jaspertimes wrote:

There are a lot of people with cash to buy a house so the interest rate doesn't matter at all.  Also, there are tons of foreign investors.  I live in a college town close to campus and I get texts, calls and postcards everyday wanting me to sell.

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You have that right. A few years ago, our friend's Mom died. She lived near Villanova University. The house was MANY square feet. Her husband had been a very successful dentist.

The family who bought the house did not want their daughter to live in a dormitory or student housing. They wanted a house big enough that if they came to visit there would be enough room for everyone who came to visit.

And yes they paid cash. That is why the house sold so quickly. It was settled in a matter of a couple days. Because the family that bought the house wanted to get back to their country.

[SilleeMee]

Big corp are buying thousands of houses all across the country and they don't make it easy for the average person to buy one from them. Some of those corps are from outside our borders and they are making money off of us.

[Rockycoast]

No signs of a slowing market in my area. Very desirable area. Good schools, low inventory. Houses get snapped up. Interest rates mean nothing to the buyers. In the brand new development just down the street from our house prices start at over 900k. That is in the village next to an elementary school. So far all the buyers are from out of state. New Yorkers according to the contractors building them. Probably 2nd homes for them.

[drizzellla]

The Real Estate Agent just popped by. She gave us a gift certificate for Rita's Wate Ice. It was for all the congestion the sale of the house 2 doors up has caused.

So far there are 8 solid offers. But she said there are more to come. She said she was overwhelmed.

At 9:00 AM this morning there were 9 vehicles of people to view the house. She was having an Open House at 1PM and they wanted to view the house before the Open House.

She originally had scheduled the Open House later in the day but people kept wanting to see the house before the Open House. 

I feel bad for the people wanting to buy. Seem like alot of competition.

[Twins Mom]

@drizzellla 

Great customer building by realtor.  The market by you sounds like pure horror for buyers in need. 

[Trailrun23]

Our housing market here is remaining steady...but no one is buying due to high interest rates... many are going up for rent. We have three for rent on our street..yikes. Property tax appraisals went out last week....took my breath away. Ours doubled. If only we could sell our house for that!