88 offers.

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We are all visitors to this time, this place. We are just passing through. Our purpose here is to observe, to learn, to grow, to love… and then we return home. - Australian Aboriginal proverb

Bazootiehead-in-training

30 March 2021, 11:43 AM

pianojuggler

You can sell and get tons of cash. But then what? You gotta live somewhere.

There’s a teardown a few blocks from me that’s listed for $1.8M. I’m guessing they’ll get more.

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pj, citizen-poster, unless specifically noted otherwise.

mod-in-training.

pj@ermosworld∙com

All types of erorrs fixed while you wait.

30 March 2021, 01:01 PM

ShiroKuro

Wow. Not just offers, all-cash offers.

Besides all the other details, who are all these buyers with that much cash available??

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My piano recordings at Box.Net: https://app.box.com/s/j4rgyhn72uvluemg1m6u

30 March 2021, 01:04 PM

ShiroKuro

P.S. this:

quote:
She said the winning bid was not the highest offer, but it was all-cash with no contingencies and it had paperwork in place.

Yep. Even if you have the purchasing power, if you're not ready to go, you're not getting a home right now. It really stacks things against first time home buyers.

I continue to be so, so grateful that we bought our home in spring 2019 instead of spring 2020!! (Also that I bought my grand piano before the pandemic started, pianos are also selling like crazy apparently!

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My piano recordings at Box.Net: https://app.box.com/s/j4rgyhn72uvluemg1m6u

30 March 2021, 01:04 PM

Mikhailoh

Bubble, bubble...toil and trouble.

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"A mob is a place where people go to get away from their conscience" Atticus Finch

30 March 2021, 01:14 PM

ShiroKuro

quote:
Bubble, bubble...toil and trouble.

Indeed!

On a smaller scale, re the home that was a fixer-upper and sold for 70% above the list price, the buyer better move fast on those renovations to turn around and get that house back on the market, because otherwise they are risking significant loss.

Obviously, things are different in big cities, but there are a few houses in our neighborhood that have been flipped and are listed at pretty high prices, and they're not getting snapped up. Those flippers take a huge risk....

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My piano recordings at Box.Net: https://app.box.com/s/j4rgyhn72uvluemg1m6u

30 March 2021, 09:18 PM

Jack Frost

Brokers are bragging about the number of offers and the bidding wars but that tells me they don’t know the market and are underpricing their listings.

Jf

30 March 2021, 11:25 PM

QuirtEvans

quote:
Originally posted by Jack Frost:
Brokers are bragging about the number of offers and the bidding wars but that tells me they don’t know the market and are underpricing their listings.

Jf

Sometimes it's a deliberate strategy. They will tell other brokers, I won't tell you the prices, but we are already considering multiple offers. That gets some buyers to panic and to put in a bid way over asking.

I've also known brokers who will set it up for a second round. They get one round of bids, then go back and ask everyone for their best and final offer. (And casually mention to the brokers that, by the way, your client wasn't the highest bidder, and wasn't close, so if they want this house, they'd better improve their offer a lot.)

31 March 2021, 01:33 AM

Steve Miller

quote:
Originally posted by Jack Frost:
Brokers are bragging about the number of offers and the bidding wars but that tells me they don’t know the market and are underpricing their listings.

Jf

And they take their cut anyway.

31 March 2021, 10:37 AM

pianojuggler

I have never had a positive experience with a realtor.

We met one a couple weeks ago on the other side of the state who was friendly, but seemed pretty young and inexperienced.

But the vultures in this area are a nasty lot.

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pj, citizen-poster, unless specifically noted otherwise.

mod-in-training.

pj@ermosworld∙com

All types of erorrs fixed while you wait.