Crazy housing market

[greglepore]

Well, its crazy, but not hyper here. Folks with houses that aren't letter perfect but pricing like the one across the street that is are seeming them sit, and in this market its a giant red flag.

I feel for young buyers, had my house on the market at high 500's and a couple that wrote a nice love letter and offered my 30k over asking with mtg contingency (pre qual'd but that means nothing) lost out to a cash 15k over offer.

[Ayles]

Read the description
https://www.redfin.com/CO/Colorado-Springs/4525-Churchill-Ct-80906/home/34515765?utm_source=android_share&utm_medium=share&utm_nooverride=1&utm_content=link

[biosurfer1]

Originally Posted by Ayles

Read the description
https://www.redfin.com/CO/Colorado-Springs/4525-Churchill-Ct-80906/home/34515765?utm_source=android_share&utm_medium=share&utm_nooverride=1&utm_content=link

Thats the same description/pics that used to be on Zillow before it got taken down or changed.

[look 171]

So there's a dead drug dealer's body in the freezer, big deal. It doesn't sound like a great deal at all. The comps according the link are at 575-590k. That's no deal to be had. They can keep that POS and watch it sit on the market for some time.

[1990C4S]

I just had my house appraised for tax reasons, I was shocked to find it had tripled in value in ten years.

Yesterday my neighbor put her house on the market for 50% more than my evaluation. She has a nice yard, but the house is a sixty year old bungalow that will get torn down.

I will be shocked if she gets it, but in this market she might.

[Tobra]

It will be interesting to see what happens when millions of people get evicted in a few months.

[aigel]

I am afraid our homes may largely be the same value and that the US dollar just isn't any longer. There is the price of assets that looks inflated and there is also pay. Pay has gone up 20% easily around here over last year if you trying to get a new hire through the door. Any job.

G

[look 171]

Originally Posted by aigel

I am afraid our homes may largely be the same value and that the US dollar just isn't any longer. There is the price of assets that looks inflated and there is also pay. Pay has gone up 20% easily around here over last year if you trying to get a new hire through the door. Any job.

G

It REAL estate, so hopefully with that it shield some of us from inflation. Just look back the past 40 or 50 years, in time, we all do well. I am just glad that our loan program isn't like NZ where you are almost forced to go to market rate every 5 years