GrantK
Well-known member
Our median change in value for residential 2020-2023 was +66% in my county... I can't imagine trying to get started in that reality...
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I’m not smart, does this mean there was a bidding war for 22% over asking?This is one of the houses we put on offer on, $750k was the winning offer but had a sewer issue.
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Yeah so asking was $585k, someone put in an offer for $750k, their offer won. Then during the inspection they found a big issue and they settled with the seller for $715… so 22% aka $130k over asking.I’m not smart, does this mean there was a bidding war for 22% over asking?
@wllm, can you just give him an Excel graph?Yeah so asking was $585k, someone put in an offer for $750k, their offer won. Then during the inspection they found a big issue and they settled with the seller for $715… so 22% aka $130k over asking.
Plus I doubt it appraised so they had to have a lot of cash.
In shit hole Michigan?!?!Yeah so asking was $585k, someone put in an offer for $750k, their offer won. Then during the inspection they found a big issue and they settled with the seller for $715… so 22% aka $130k over asking.
Plus I doubt it appraised so they had to have a lot of cash.
Yeah so asking was $585k, someone put in an offer for $750k, their offer won. Then during the inspection they found a big issue and they settled with the seller for $715… so 22% aka $130k over asking.
Plus I doubt it appraised so they had to have a lot of cash.
Rinella spot blowing AGAIN!In shit hole Michigan?!?!
I’ve always wanted to buy one of these just to have it.Stop being so picky and tell the wife she has to commute. Look at this beauty...
16597 Prairie St, Detroit, MI 48221 | Zillow
16597 Prairie St, Detroit MI, is a Single Family home that contains 1012 sq ft and was built in 1925.It contains 3 bedrooms and 1 bathroom.This home last sold for $4,000 in May 2017. The Rent Zestimate for this Single Family is $1,239/mo, which has increased by $1,239/mo in the last 30 days.www.zillow.com
The selling price is the market value, no luck or stupidity.As a seller, if you get 22% over asking do you feel lucky or stupid?
I think that’s exactly the issue, just zero inventory.Who's gonna sell a house right now? After they refinanced during covid at 2.5%. That's not helping either
It’s the market value on that particular day?The selling price is the market value, no luck or stupidity.
Just chatted with a buddy who is looking for a place here in Boston, they are 11 offers in… same kinda deal. Always going over asking, waiving everything… just 10 to 1 buyers to sellers.We bid $70k over asking on our house (2022) and were not the highest offer by far, but our realtor had good terms in there and at most we risked $5,000 if there was anything super major on the inspection. And it appraised for over what we offered, so huge win for us.
Felt INSANE at the time to do so, but we wouldn't have been able to even look at our house THIS year in the current market. The rates and when we bought aligned perfectly, zero regrets, but it was an insane process that stretched from Jan 2 to May 2 last year.
Can't imagine trying to do that right now. Bummer about the house @wllm
Prices are snapshots in time based on what’s being sold and the interested buyers.It’s the market value on that particular day?