Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
OK, that's it! I've had it! I lost another house in another bidding war! Anyone else having a hard time buying in a desirable area and finding bidding wars on the fairly priced (non-distressed) listings? All of the posts about this being such a "great buyer's market" are driving me nuts! There is no buyer's market unless you wanna buy in the far suburbs!
OK, that's it! I've had it! I lost another house in another bidding war! Anyone else having a hard time buying in a desirable area and finding bidding wars on the fairly priced (non-distressed) listings? All of the posts about this being such a "great buyer's market" are driving me nuts! There is no buyer's market unless you wanna buy in the far suburbs!
Not that I've seen in the Charleston, SC area, in a market of $150,000 to $350,000. Our house was on the market for almost a year. One agent showed up with a a couple during our inspection - they shruged when they heard we were under contract, and went on to look at the bajillion other houses up for sale.
In my area the lower-end stuff is being snapped up like crazy. My price point is still slooooooow. But I am getting showings at least 3-4 times a week now. No offers. But I'm a patient person!
I agree with your statement about at a certain price point, and in certain areas, it's not a buyer's market anymore. And I'll go so far as to say in some areas, it never was.
In on page 1. The market where I am is slow in one are (higher end) due to a company relocating to another area, but much better under $150K so I hear.
From what's I've seen, there are seller's markets (5 mths or less of inventory) emerging in some parts of the Miami area, DC area, LA area, S Francisco area, Seattle area, etc. In DC my business partner says "I walk my dogs every morning in NW DC. Not one sign that I walk past does not have "under contract" on it. NOT ONE."
Location: Halfway between Number 4 Privet Drive and Forks, WA
1,516 posts, read 4,591,098 times
Reputation: 677
Maybe it's all the pent up demand, or maybe, just maybe...real estate IS indeed local.
The under $200k market is doing decent here...if you are priced over that you might as well be prepared to sit on it a while. Agreed that under $150k is doing much better.
I will be going through a relo this summer and just left a meeting. I was told the Chicago market has 10% lower inventory than in 2007 or 2008. Also, I was told the low end is currently hot.
In my area in upstate NY, the 200K-350K are selling like hotcakes. A friend of mine has been desperately looking for a home in my town and has lost out on 4 homes that she was interested in because she didn't jump on it fast enough. Those homes sold within 2-3 days. She's trying to take advantage of the first time home buyers incentive. She started off thinking she would have lots of homes to chose from, but is now realizing she's got to move a little quicker if she finds something she likes.
Unfortunately, my home will be priced a little higher than that, so I can't sell to my friend. I'm going to be looking for a buyer soon and I don't think the >400K range is selling as well in my area. Oh well. It's nice to know that at least some homes are moving.
In Chicago, the condo market is soft. Yet, if you are looking for a unit in a small, self-managed building ( low assessments), in a top area, with parking and some semblance of outdoor space, about 50 % of them sell under multiple bid scenarios.
The closing prices reflect a stable market, not wild and crazy speculation.
In DC my business partner says "I walk my dogs every morning in NW DC. Not one sign that I walk past does not have "under contract" on it. NOT ONE."
Need to get under the hood on that one. How are the closed sale prices compared to what the owners paid for those same properties, 4-6 years ago.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
