https://www.bloomberg.com/opinion/articles/2024-02-29/need-to-sell-your-house-hustle-and-maybe-cut-the-asking-price And it is happening right when the buying season is supposed to warm up. What are the risks of it spreading? Are any HCOLs hit yet?
Doubt it. Need a recession to get more sold. Even after the 2008 bust, it took until 2010 before inventory was plentiful. I mean, you can always persuade a seller by paying more than the place is worth, but that’s not what buyers want.
Fake news. I’m seeing 100-200k bids above asking everywhere I go
True, but I am also seeing many homes closing 14 days or so…not sure if it’s cash buyer or corporation buying…cause loans usually have 28 day close, and cash buyers close in a week or so. So the 14 day close is puzzling me… And what’s more strange is the buyer paying 100k over asking etc… this is in sf Bay Area…
14 day is likely cash closing. Even with cash, there’s some back and forth after an inspection, which can add a few days over the usual 10 day close.
Literally impossible. House only go up
Depends on the the market. Some markets are still hot but some markets are starting to struggle.
The biggest risk to housing is posting links behind a paywall.
I thought it would have been not posting TC