by "Dr. Zoidberg - RIP Oppo" (thetomselleck)
Published 10/27/2017 at 23:45
by "Dr. Zoidberg - RIP Oppo" (thetomselleck)
Published 10/27/2017 at 23:45
Tags: Friendship
STARS: 3
My wife and I decided to not place an offer on that house. For the record, the house was even better than what we thought it would be, but we suspect it will ultimately go for more than were willing to pay as of now.
Further confirmed when I went out with my buddy tonight. Yes, the same one I ran into at the open house today. After I told him we weren’t going to get in the game, he revealed that his offer was going to be 11% more than the asking price — to start. Do I think this house is worth that much? Absolutely. But it is ultimately more than I’m willing to pay for it.
So tomorrow I’m going to another open house with him and his old lady and grabbing beer afterwards. My buddy seems to love the house, I think she will too.
If nothing else, I hope to soon be using the longbed to help two people I really care for deeply move into their first home.
"Steve in Manhattan" (blogenfreude01)
10/27/2017 at 23:59, STARS: 0
Before we decided to move into the apartment we’re in, we contemplated offers on a few apartments. Ultimately, we decided that bidding against a few other buyers was a useless exercise, because both of us know far too much about value (me, lawyer, former agent, former appraiser - her, former agent). We can buy this thing at a reasonable price, and our stuff is already here.
"Chariotoflove" (chariotoflove)
10/28/2017 at 00:25, STARS: 1
That’s a fantastic way to look at things. You will get a perfect house for you. No doubt in my mind.
"Highlander-Datsuns are Forever" (jamesbowland)
10/28/2017 at 00:26, STARS: 0
I don’t think I ever went to one open house. The last home I bought was on the market for nearly a year and the owner was desperate to sell so we low balled and they took it.
"Dr. Zoidberg - RIP Oppo" (thetomselleck)
10/28/2017 at 00:34, STARS: 1
I don’t think it will ever work that way around here. As an example, I went to a open house for a 715 sq ft home in not-quite-Mukilteo that sold for 325,000... I have plenty more extreme examples.
"fintail" (fintail)
10/28/2017 at 01:23, STARS: 0
It can’t keep going up at this rate forever, but it seems to be able to keep going up for a long time. I suspect there’s some corporate and dirty money playing in the normal end of the market now.
"shop-teacher" (shop-teacher)
10/28/2017 at 09:38, STARS: 0
How so? I’m not saying you’re wrong. I just can’t think of a way dirty corporate money can make people pay too much for housing.
"diplodicus forgot his password" (diplodicusforgothispassword)
10/28/2017 at 10:18, STARS: 1
Dude I can’t believe how expensive housing is out there. My sister lives out there and they tried to get me to move there after I visited but I just can’t afford anywhere that my dog would be happy. It’s a bummer because it is beautiful out there.
"fintail" (fintail)
10/28/2017 at 12:35, STARS: 1
Entities buying up volumes of houses for speculation or rental can definitely impact the market. I am not sure what kind of answer you want for “how”, but when more bidders with deep pockets enter a finite market, prices rise.
I live in an area where offshore cash buyers can make up 50% of sales volume. Cash that would likely land you in prison if it was earned here the same way it was earned at home, but once you buy your way in, no questions asked. This factor has helped to destroy the market in Vancouver, and it is on the same track here.
"shop-teacher" (shop-teacher)
10/28/2017 at 14:22, STARS: 0
Gotcha.
"TomServo (Resides on the Satellite of Love)" (mk7silkblue)
10/28/2017 at 16:23, STARS: 0
My family’s current house is a 6500 square foot slightly blasé house in a fancy subdivision bought for like 390k because someone was desperate to sell when they got transferred. Their last house was an 80s mock Tudor that they turned really pretty, that sat there for so long that they got it for 140k.
"RPM esq." (rpm3)
10/30/2017 at 17:12, STARS: 0
This summer, a 1300 square foot house near me sold before the listing even had pictures up , for 10% over asking, all cash, waived inspection and all contingencies. For $800,000. It was a rental, and I lived in it a few years ago, so I know it’s nice inside, but still...