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Post by gato on Mar 5, 2021 6:33:05 GMT -5
Homes for sale in suburban New York, Manhattan, New Jersey, are seeing lines of cars at open houses, offers above asking price and commonly all cash offers, as the supply tightens and the demand increases.
"The frenetic sales activity — a second wave after a surge last summer — has been fueled by multiple forces: historically low mortgage rates; pandemic-fatigued city dwellers desperate for more space; and many employers’ willingness to embrace remote work, allowing buyers to look in places beyond what would be considered an easy commute." NY Times
There are a few "For Sale" signs in my 'hood, but I haven't popped in for a look-see, so I don't know if the owners are using Soylent Green scooper trucks to deal with the crush of potential buyers.
Oddly, there is quite a nice home a few hundred yards from my place that has sat empty for the last 12 years. It's on a corner lot, is well maintained, but unoccupied. Not for sale, not for rent. It is our local mystery house.
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Post by LTB on Mar 5, 2021 8:06:40 GMT -5
Homes for sale in suburban New York, Manhattan, New Jersey, are seeing lines of cars at open houses, offers above asking price and commonly all cash offers, as the supply tightens and the demand increases. "The frenetic sales activity — a second wave after a surge last summer — has been fueled by multiple forces: historically low mortgage rates; pandemic-fatigued city dwellers desperate for more space; and many employers’ willingness to embrace remote work, allowing buyers to look in places beyond what would be considered an easy commute." NY Times There are a few "For Sale" signs in my 'hood, but I haven't popped in for a look-see, so I don't know if the owners are using Soylent Green scooper trucks to deal with the crush of potential buyers. Oddly, there is quite a nice home a few hundred yards from my place that has sat empty for the last 12 years. It's on a corner lot, is well maintained, but unoccupied. Not for sale, not for rent. It is our local mystery house. Be cool to know the history on this house alright. Sounds incredible someone has the money to keep up with manicure and maintenance of a house while not living in it. |
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Buster
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Formerly Known As: Buster Strings
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Post by Buster on Mar 5, 2021 8:13:07 GMT -5
There was an empty house like that across from me years ago. Word around the neighborhood was that it belonged to an elderly gentleman who was in a nursing home and if it was sold or rented, it would have some kind of impact on his Medicaid that was paying for his nursing home stay.
I have no idea if that was true but if so, maybe the owner of that "mystery house" is the same situation.
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moose0130
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Post by moose0130 on Mar 5, 2021 8:32:59 GMT -5
The current migration is real.
I live in Southern Vermont, houses in my area commonly take 9-12 months to sell, many times even longer. Just very low influx of potential buyers.
In the last 12 months houses are selling in days or weeks (fast for around here) at asking or higher.
According to RedFin my house price increased 24% in the last 12 months. I should sell and move... I guess into NYC while prices are low? Deeper into the backwoods of Vermont? Guess I'll just sit tight.
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michael
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Post by michael on Mar 5, 2021 9:01:21 GMT -5
real estate is hot in southern KY. we have been keeping an eye on things since we're considering downsizing from the farm to a smaller place. several houses we've eyeballed from the curb and put on our list have sold in weeks... there's just not much left at the moment we're interested in.
sooo, i suppose we'll stay here for the time being.
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Post by gato on Mar 5, 2021 9:22:48 GMT -5
I often come home to find a card stuck in my screen door. On it is a picture of my home and an offer to pay cash for my place. Okay, and then what? I wander around as a nomad, looking for a place at least as nice as the one I abandoned. Think I'll just stay where I am, thank you very much, and watch the real estate market boosting the value of my house every 15 minutes.
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Post by HenryJ on Mar 5, 2021 9:29:26 GMT -5
I often come home to find a card stuck in my screen door. On it is a picture of my home and an offer to pay cash for my place. Okay, and then what? I wander around as a nomad, looking for a place at least as nice as the one I abandoned. Think I'll just stay where I am, thank you very much, and watch the real estate market boosting the value of my house every 15 minutes. We just get postcards from people offering to buy our house. We just ignore them. Our house is paid for. No house note. No monthly rent payments. We're not ready for a "senior living center" just yet. Our house is a perfectly good "old folks home" for us. |
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michael
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Recent Retiree
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Post by michael on Mar 5, 2021 10:01:01 GMT -5
Real estate is hot in southern KY
we have been considering downsizing from the farm to a subdivision type house... i'm tired of the maintenance even though i've pared it down to nothing but mowing and bush hogging. it takes a LOT of time.
we've looked on-line and have found places we're interested in, and have actually driven out to see some of them but we find they're selling in weeks and we just aren't that fast at making decisions involving hundreds of thousands of dollars.
pretty much anything we'd be interested in has been sold already, so i guess we'll stay where we are.
i have talked to my bank guy and a "bridge loan" will be ready when we're ready to buy.
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Post by jhawkr on Mar 5, 2021 10:07:19 GMT -5
Houses for sale are in short supply here as well. Real estate prices have been going up for several years. The bad news is the county tax evaluations just went out this week and my home value went up almost 7%! They say it is “unclear “ if the tax bills will be going up but I would say it is very clear!
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Post by Seldom Seen on Mar 5, 2021 10:23:34 GMT -5
My wife and I just bought a third home near Corpus Christi TX. We lucked into a home that was about to go on the market, offered the seller cash, and that was it. I couldn't believe our good fortune. We had made a few cash offers on over priced homes only to see them go for full asking price. I'm not the landlord type but I decided to rent the home in UT to my daughter. I just can't see selling it when it can provide a nice home for her and we don't need the cash right now.
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