Real estate peeps,question?

Are the mad bidding wars still happening? I found a house and location that’s been a longtime place I’ve liked but timing was never on my side. Checked out the house yesterday, as it only went “live” and able to see yesterday. Had an agent meet us there. We rapidly loved the place. Problem is, last night the agent texted saying we already need to bid much higher than I wanted to pay, and it’s going over listing price. Screw the Jones’s……..I’m not going over my budget for a house. Is the market still somewhat volatile like this? I thought it died down a bit……no?

 

Depends on the area

 

I’m no expert but I think it is all location based.

 

Location is going to be crucial, but I can see the nationwide market affecting things everywhere. We've all but decided to take a wait and see attitude on buying another rental even if the land sale we plan to fund it with happens.

Of course, then we'd have to figure out where to put those funds while we wait to see.

Hookerz-n-blo wouldn't be the missus' first choice.

First world problems...

 

Housing market is cooling off on average. Unless you need to buy now, you'll probably be money ahead to let someone else bid their way into negative equity.

 

It has slowed a lot, BUT location still matters a lot.

 

It's location specific. There are spots in the PNW where all my clients are having to come in over. Down in the SW, not so much.

 

Overall, values are headed downward so you don't want to bid up a property at this time, sooner or later the market will catch up with that area.

 

We are due to close on a house in North Florida in a couple of weeks. The sellers dropped the price and we still offered below their new asking price. They countered and we accepted and ended up below asking and below appraisal.
We just had an appraisal done on our WI house and it came in higher than we expected and the realtor said we could ask over appraised price and easily get it as the inventory where we are is way low.
So, location, location, location.

 

If you’ve seen what’s happening to your west, expect a lot of blue license plates migrating to your neck of the woods.

 

Refugees from Minnesota.

(Que the Tom Petty song)

Don’t have to live like a Refugee!!!!

 

The market in our area will always be an overpriced shit show Bud.

 

Where in North FL? North FL extends from the Atlantic to the Gulf...

 

Doubtful... if anything where I live starter homes on well/septic & 40 miles from the ocean have breached the $300k
mark. The higher end homes triple that price are not getting any discounts. This is a huge military & college town too... the demand for housing is so severe there are over 100 different multi story /family developments in the framing stages. I was told that the demand is at both ends of the market spectrum... young professionals and retired couples who dont want a single family house.

 

This was VA…….just not NoVa!! But yeah, my county stays very high typically, especially compared up north in your neck of the woods, but we do live in a shit show

 

It’s worse………we’ve got DC plates that have been moving in for a few years now. Damn Krispy Kreme’s

 

You think he wants you collard green eating motherfuckers showing up in his doorstep?

 

Eastpoint, south of Tallahassee, between St. George Island and Apalachacola.

 

It is just an escape from WI for the winter months and we will short term rental it for the rest of the year. We plan to be there January through March. You and the girls should come for a visit while we are there, only 5 minutes to the beach.

 

Careful, I may take you up on that!