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Old 02-16-2021, 04:04 AM
 
29 posts, read 28,216 times
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I know many in this forum are shopping homes. I'm curious about how many are encountering bidding wars on houses.
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Old 02-16-2021, 04:30 AM
 
Location: Venice, FL
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And, are those bidding wars being run by your listing agent, or by owners?
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Old 02-16-2021, 06:50 AM
 
224 posts, read 128,699 times
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It is getting a bit crazy, the builder has announced they are not building any new homes for a month where I live. So people have taken to posting on our Facebook group asking to buy existing homes if anyone will sell. Literally multiple posts.
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Old 02-17-2021, 08:29 AM
 
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I live in S. Sarasota County and from what my realtor told me yesterday when I asked if we should list this year or next, she said the market is "hot, hot, hot, now and you never know what next year will be like". So, I can only assume that for certain properties bidding wars are occurring.

A friend of mine has a daughter that wanted to see a place and it was under contract before she could see it. That was in Englewood.
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Old 02-17-2021, 11:02 AM
 
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Sarasota county home inventory is at record lows. So prices should continue higher until more inventory/higher prices causes the market to plateau.
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Old 02-17-2021, 11:16 AM
 
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Never buy when there are bidding wars - sign of the top -wait-
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Old 02-17-2021, 03:50 PM
 
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Just saw a new listing in our community that appeared yesterday with best and final due the next day at 6pm. One day!
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Old 02-17-2021, 05:31 PM
 
Location: Venice, FL
12,300 posts, read 4,073,760 times
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Quote:
Originally Posted by Marion Marlowe View Post
Never buy when there are bidding wars - sign of the top -wait-
Unless your property taxes in NJ are now $30k/year, and covid restrictions have nearly everything shut down, and you are about to lose your job.

If you are being suffocated up North, do whatever to takes to get out.
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Old 02-18-2021, 05:39 AM
 
Location: Sarasota/ Bradenton - University Pkwy area
3,810 posts, read 5,652,367 times
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They're coming from New Jersey, New York, IL and MN. People tired of shut downs and lock downs, people who want their kids to physically go to school for their educations, people tired of governors acting as if the residents are stupid and can't make responsible decisions for themselves. People who are seeking out a better quality of life, who want to experience as much of normal as is possible under the Covid circumstances.

And yes, those people are placing a demand on housing here on top of an already tight inventory market due to many local residents not wanting to list/show their homes during Covid, so they've put their plans on hold for now.

The number of active listings in the MLS is down 50% for Jan 2021 vs Jan 2020. Sales volume is up 34% over the same time period, sales prices are up 17%. The inventory of single family homes for sale is down to a 2 month supply -- 6 months is considered a "balanced" market. Which explains the reintroduction of bidding wars for houses.

At some point in time the lock down governors will have to open back up, allow people to return to some semblance of normal lives, slowing down the mass exodus to states like Florida. But I do agree with what someone else had posted on one of these threads previously, that because employers are now embracing employees working remotely, it is changing how people feel about staying in high tax places such as New Jersey.
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Old 02-18-2021, 06:32 AM
 
15 posts, read 8,753 times
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Quote:
Originally Posted by beach43ofus View Post
Unless your property taxes in NJ are now $30k/year, and covid restrictions have nearly everything shut down, and you are about to lose your job.

If you are being suffocated up North, do whatever to takes to get out.




That's their problem in NJ. If they are in that much of a hurry, go rent an apt, BV or a trailer. Participation in the bubble from transplants hurt the people and systems HERE in Florida.


Florida First. Florida's people first. Florida's economy first.
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