Some in my neighbourhood are "cashing in" as we call it. Houses are all now $1.3m or more. Neighbour directly across had an open house last week end on Sat and Sun. Listed at $1,388,888 They were accepting offers on Tuesday at 7pm. I watched the action on Tues. 6:50 an SUV drove up and dropped off an offer and left. 15 minures later 5 SUVs pull up all within minutes of each other. Some alone on a phone others with someone else. They all were there for an hour. They went in the house once or twice.
Next day i got the story from the neighbour who sold (sold sign was up). All 5 offers were within $40K of each other. Bidding war. All buyers were Asian for whatever that's worth. One guy WANTED it, so he upped it by another $100K. Sold for $1.528M No contingencies.
The sellers will move further out. In my case, Ilike where I live. I want to live here until I'm 80! Although some people say I'm sitting on a "million dollar mansion" it does nadda for my monthly bank account. And it ain't no mansion at 2255 square feet
I don't want to drive further to work, i like my job and will stay there 'til I retire. The grand kids are nearby. So the value of my house is a moot point. Actually we have about another 4 years to finish the mortgage and that's what
I'mfocussed on. I just want to own it without the bank as "co-owner".