How many days?

[HoLeChit]

The home sales market is so hot that any guess is likely to be wrong on either the amount of time (very short) or offers relative to price (over the advertised). We keep getting real estate agent/broker mailings wanting to list our house and we've looked at Zillow on recent neighborhood sales. We shake our heads while acknowledging the temptation to grab that inflated equity but we just can't answer the question on where else we'd go. I have no desire to be chasing houses in an overheated market nor to build given the huge cost increases of recent months.

I can agree. I have been considering selling my home, as we're about to move into the old ladys rent house with the intention of taking the next year or two to fix it up before buying land. Was thinking of renting my house out, but its real tempting to go ahead and sell now. I dont really know if that's the best idea though; I feel as if waiting a year will net me a lot more money, esp with these new tariffs coming through on canadian lumber.

 

[retrieverman]

I know a guy here who’s in the real estate/property mgmt business and had a guy come to his personal house wanting to buy it. The owner said no, and the potential buyer said he wanted to buy it and to name a price. The owner threw out what he thought was a ridiculous price, and the guy said he’d take it. The owner has had to move into one of his own rentals which was a huge “downgrade” from what he had until he can find or build another house. I haven’t heard the actual price, but it was supposedly pretty absurd.
I’ve considered selling both my places here in Texas, but like this guy found out, you really almost have to have somewhere to go before even attempting to sell (which I really don’t unless I move to my OK house WITHOUT my wife and daughter, because they ain’t moving up there.)

 

[dlbleak]

As to the above 4 posts, have a place secured to go to. The market is nuts but the bubble will burst. I downsized 250 feet but was able to go from a 35 year old house to a brand new one for equal money.

 

[dennishoddy]

I know a guy here who’s in the real estate/property mgmt business and had a guy come to his personal house wanting to buy it. The owner said no, and the potential buyer said he wanted to buy it and to name a price. The owner threw out what he thought was a ridiculous price, and the guy said he’d take it. The owner has had to move into one of his own rentals which was a huge “downgrade” from what he had until he can find or build another house. I haven’t heard the actual price, but it was supposedly pretty absurd.
I’ve considered selling both my places here in Texas, but like this guy found out, you really almost have to have somewhere to go before even attempting to sell (which I really don’t unless I move to my OK house WITHOUT my wife and daughter, because they ain’t moving up there.)

That has happened around here. Our rural mail lady’s son got a knock on his older rural home with a big metal building behind it on 10 acres.
Guy wanted to know if he wanted to sell and he said no. Guy said he would pay X number of dollars which was more than twice what it was worth. Mail ladies son took the offer asking when did they want to move in? Guy said 24 hours and to leave all household furniture and cooking equipment.
A couple weeks later there were several people of Asian decent living there while converting the metal building into a grow.
Just about any rural home in this area with a big metal building behind it is getting a knock on the door.

 

[HoLeChit]

That has happened around here. Our rural mail lady’s son got a knock on his older rural home with a big metal building behind it on 10 acres.
Guy wanted to know if he wanted to sell and he said no. Guy said he would pay X number of dollars which was more than twice what it was worth. Mail ladies son took the offer asking when did they want to move in? Guy said 24 hours and to leave all household furniture and cooking equipment.
A couple weeks later there were several people of Asian decent living there while converting the metal building into a grow.
Just about any rural home in this area with a big metal building behind it is getting a knock on the door.

Dang, if someone offered me more than twice what my house was worth with the furniture and appliances I would pack up my crap and leave that week.

 

[trekrok]

I still don't get it. I understand low interest rates stimulus money and so on, but I still don't get the frenzied buying. It almost sounds disconnected from reality to me. I feel like everyone else sees something I don't. I'm energy related, so maybe that colors my opinion some. I still feel more in a hunker down mode with the way the country and industry look. Definitely not feeling like I want to go real estate shopping. But I must be in the minority it seems. Something else I heard, but not very often, is that up to 25% of mortgages were under some type of pandemic related forbearance. How does that square with an overheated housing market?

 

[bigred1]

2nd looker scheduled 2 hours after the first one tomorrow.

 

[mr ed]

That has happened around here. Our rural mail lady’s son got a knock on his older rural home with a big metal building behind it on 10 acres.
Guy wanted to know if he wanted to sell and he said no. Guy said he would pay X number of dollars which was more than twice what it was worth. Mail ladies son took the offer asking when did they want to move in? Guy said 24 hours and to leave all household furniture and cooking equipment.
A couple weeks later there were several people of Asian decent living there while converting the metal building into a grow.
Just about any rural home in this area with a big metal building behind it is getting a knock on the door.

That guy should wait a few months and turn'em into the feds. If they got no license, feds will seize it and the guy could buy it back at the marshal's sale.LOL!

 

[mr ed]

I still don't get it. I understand low interest rates stimulus money and so on, but I still don't get the frenzied buying. It almost sounds disconnected from reality to me. I feel like everyone else sees something I don't. I'm energy related, so maybe that colors my opinion some. I still feel more in a hunker down mode with the way the country and industry look. Definitely not feeling like I want to go real estate shopping. But I must be in the minority it seems. Something else I heard, but not very often, is that up to 25% of mortgages were under some type of pandemic related forbearance. How does that square with an overheated housing market?

Blue stater's are moving in by the thousands. going to turn OK Blue or at least purple by 2024.

 

[Timmy59]

Hell, I'm talking about biting me too.....damn dog loves Mother but just tolerates me.
Come to think of it that dog acts just like her.

Glad to hear the pups enjoying you.. SOO happy to hear you pulled it off.. Congrats.. You ready to live out there yet ? Got power on ? Run water yet ? Got a tent ? LOL.. Your gonna be moving PDQ..

I closed my personal house last month. I had a full price offer within 6 hours of listing and 4 offers over asking price within 48 hours. I went with the guy that put a condition in the contract to pay the difference if it didn't appraise for the amount. I don't know what it appraised for, but there's no way it appraised for what it was under contract for. I'm a property investor and am very familiar with the area. I've put 5 more doors under contract within the past 2 weeks. It was a 1975 built house that should have went in the $120-125sq/ft range. It had a shop that would have added about $10sq/ft so $135sq/ft max. It sold for $148.50sq/ft. My realtor said pretty much all the houses in the area are going above asking price, many are not making appraisal and people are just bringing cash to close. It's stupid.

Purchased for $25.14 sq ft in 2016 and believe it'd fetch $178 sq ft today..

Dang, if someone offered me more than twice what my house was worth with the furniture and appliances I would pack up my crap and leave that week.

I like my neighborhood too much..

2nd looker scheduled 2 hours after the first one tomorrow.

They want you out by next weekend lol..

Blue stater's are moving in by the thousands. going to turn OK Blue or at least purple by 2024.

that and the foreign $ are going to change this state BIG time.. The state folks F'd up..

I see lots more adventure and laughs here I'll have to subscribe