re: The Wild DFW Housing Market--my experience

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Five houses up from where I live (Lewisville), with ONE WEEK a house had a sign up and then had the UNDER CONTRACT sign within that time frame. (My area is much nicer than where my rental is.)

I have had agents cold call me at home asking if I was selling my house. I've had an agent walk the street and show up on my porch, asking if I was selling my house (because I re-did the front lawn). That agent said my house would sell for $240K (I paid $170K in 1999), not even looking at condition (it needs some work inside) and that was BEFORE this madness.

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I understand all of that and that's all good and dandy. Look I'm very happy for you, sold at a good price you are happy with.

But my point is, you still likely UNDER sold. Fannie and Freddie mac foreclosures have a 7 day "look" period in which they don't accept any offers because they want to allow people some time to find them. All these people that say they accepted an offer in under 48 hours are idtiots. You under listed your house and then you took an offer on top of it. Give other people some time, people could be on vacation, working out of town, or just too busy to look at your house for 7-10 days and be willing to pay 5-10% more.

All you have to do is to tell people you are waiting 7-10 days to review the offers. Heck have your realtor lie and say you are on vacation. Outside of investors, no ones going to walk away from an over listing price offer in 7 days.