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Posted on 3/12/22 at 5:23 am to H2O Tiger
Friend from work, I’m Metairie is looking to move to that area, has made several offers and keeps missing out. He has changed from Austin to Temple because it’s close to the area and this week made another offer $30,000 over list on a $300000 house cash buyer no finance and didn’t get the sale!!!
Posted on 3/12/22 at 5:41 am to Paul Allen
Its true. I remember
Posted on 3/12/22 at 5:42 am to H2O Tiger
We had our very first offer accepted earlier this week -- was so shocked I barely knew what to say when I got the call. I'm not in TX, though. $17k over on $300k. Didn't ask for repairs but inspection was contingent so anything scary allowed the option of walking away. Low % downpayment.
Locked in at 4.25% -- wish I had done it a month ago, but will probably keep going higher for a bit.
Locked in at 4.25% -- wish I had done it a month ago, but will probably keep going higher for a bit.
Posted on 3/12/22 at 6:20 am to ItNeverRains
quote:
You remove all contingencies and use an escalation clause with no ceiling? If so congrats, if not better luck next time
We just sold our house now on the buy side and learning that once there’s multiple offers if you aren’t doing the above and offering 10% over ask in area we’re looking you can pound sand.
Posted on 3/12/22 at 6:26 am to HooDooWitch
Good for him actually. If I had to live in Temple I would blow my brains out in a hurry.
Posted on 3/12/22 at 6:29 am to H2O Tiger
quote:
Just put in an offer for a house in Austin, our 5th one, and wondering what your experiences have been as of late.
Real estate prices remain insane, at least in desirable markets.
I recently sold a house in Park City, UT. Listed house on a Thursday night. Was surprised I didn’t receive an offer on Friday. Got first offer on Saturday night at $125K over ask. Got two more offers on Sunday.
Winning offer matched the $125k over ask, BUT, also:
1-would pay us $25k non-refundable payment upon signing contract that day;
2-all cash so no financing risks;
3-required only 1 day diligence period;
4-would close within 5 days;
5-offered 3 month lease back period for free.
These are the types of things that are being offered in addition to simply a price.
From a sellers perspective, it de-risked the transaction for us which is key b/c seller doesn’t want to select an offer that won’t close. The $25k non-refundable payment also eliminated any concerns about the inspection report b/c we knew buyer wouldn’t walk over something trivial.
In short, winning offers right now require creativity and risk transference from seller to buyer.
This post was edited on 3/12/22 at 6:38 am
Posted on 3/12/22 at 6:33 am to Larry Gooseman
quote:
We just sold our house now on the buy side and learning that once there’s multiple offers if you aren’t doing the above and offering 10% over ask in area we’re looking you can pound sand.
Had one close last week we bought 8/20 paid 950k listed 2/22 at 1.5M sold 1.75M I’ve got one coming on next week we paid 1.6M in 2018 going on market at 2.95M. I anticipate multiple offers.
It’s insane.
Posted on 3/12/22 at 6:37 am to H2O Tiger
My family owns a few rental properties in small town, South Dakota. We put a 2 bedroom, 1700 square foot home on the market the other day. Its a nice home, but not updated. Listed at $275k. Had a full price offer in an hour.
Bought our home for $330k in August 2019, Zestimate today is $508k, not including the massive outdoor kitchen and patio we built on. I couldn't afford to sell now and buy another home right now.
Bought our home for $330k in August 2019, Zestimate today is $508k, not including the massive outdoor kitchen and patio we built on. I couldn't afford to sell now and buy another home right now.
Posted on 3/12/22 at 6:45 am to HoustonChick86
quote:
Bought our home for $330k in August 2019, Zestimate today is $508k, not including the massive outdoor kitchen and patio we built on. I couldn't afford to sell now and buy another home right now.
My Zestimate is up $121.739 in the last 30 days. Our market has gone full retard. Less than 30 days inventory everything goes above list multiple offers.
Many folks are in your same boat. If you’re where you want to be though, it’s at least comforting knowing your home value is keeping pace with inflation.
Posted on 3/12/22 at 7:25 am to KwoodTiger
quote:
Real estate prices remain insane
There’s that word again.
What exactly is ‘insane’ about items in high demand with limited supply costing more?
Put another way, if there were 1 billion houses in Austin and the prices were very low due to a large supply, would that also be ‘insane’?
Posted on 3/12/22 at 7:29 am to KwoodTiger
quote:
offer matched the $125k over ask, BUT, also:
1-would pay us $25k non-refundable payment upon signing contract that day;
2-all cash so no financing risks;
3-required only 1 day diligence period;
4-would close within 5 days;
5-offered 3 month lease back period for free.
Gawdd dayummmm
Posted on 3/12/22 at 7:49 am to weagle99
quote:
Put another way, if there were 1 billion houses in Austin and the prices were very low due to a large supply, would that also be ‘insane’?
Yes.
Posted on 3/12/22 at 8:20 am to weagle99
quote:
Put another way, if there were 1 billion houses in Austin and the prices were very low due to a large supply, would that also be ‘insane’?
Yes, because then people would be foreclosing or going bankrupt left and right due to not enough buyers. The market right now is "insane" right now as there is a true housing shortage.
Posted on 3/12/22 at 8:22 am to H2O Tiger
quote:
I do have a buddy with a place on Canyon Lake but they are thinking of selling because the water level keeps dropping.
I'm probably showing my ignorance here, but what does water level dropping mean in terms of wanting to sell? Are you referring to the lack of recreational stuff like jet skis, fishing etc? I'm not familiar with Austin/Canyon Lake area, I grew up around bodies of water where water levels drop all the time but gets filled up by locks and the time of season. Just curious, not trying to come off sarcastic or anything.
Posted on 3/12/22 at 8:26 am to H2O Tiger
quote:You gay folk usually have resources.
Fiance got a job down there and I can work from anywhere
Posted on 3/12/22 at 8:39 am to H2O Tiger
I’ve made offers on house significantly over list every weekend for the last 5 weeks and only get beat by cash offers $100k+ higher than my offer. I’ve stopped looking at every one and just submit “competitive” offers.
Posted on 3/12/22 at 8:46 am to pjab
Building is worse. The materials price haas gone up multiple times over the last few months. Just pouring concrete has skyrocketed. Yesterday, Coburns told me that stainless steel is about to go up ~60%(hard to believe) and that anything with nickel is about to shoot up as the raw material has tripled this month. Buying a house is a way better option right now if you can find something you like.
Posted on 3/12/22 at 9:06 am to PotatoChip
I listed a house for sale in BR. Been a week with no offers which is surprising given market. It’s not an unreasonable list price either so we will see
Houston purchase was obtained through normal process. Contingent on inspections, etc and we got it for essentially their list price. Secured interest rate a month ago for 3.25%
For The other house we looked at in Cypress, you had to bid $75k over list to even compete
Houston purchase was obtained through normal process. Contingent on inspections, etc and we got it for essentially their list price. Secured interest rate a month ago for 3.25%
For The other house we looked at in Cypress, you had to bid $75k over list to even compete
Posted on 3/12/22 at 9:12 am to H2O Tiger
Feels like panic buying, similar to toilet paper
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