I am noticing that prices of homes I am tracking on Zillow, Redfin, etc are inching up gradually this year. Anyone else notice the same? Anyone actively shopping in the market can share firsthand experience?
Yes 5-10% up across the area if you look at new homes or even older.
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I'm in the market, can confirm. Be mentally ready to bid wildly, bid aggressively. Or you ain't winning no bid.
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I've been closely monitoring lower end houses in the 1.5M range. 200k to 300k overbid is pretty much a certainty since the start of the year.
Home only go up
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Same thing in Seattle. The stonks shoot up and you expect housing prices not to follow? Man where are your analytical skills?
It was jus wishful thinking 😭
Any house below 2M is going for at least 200 to 300k more than asking. Only houses which look really bad or behind freeways are staying in market and getting a price cut.
Many conventionally unattractive attributes aren't enough to deter buyers. Death, 1 bathroom, T-intersection, next to a school, everything still goes within a week with overbid. It's a crazy market. Smaller condo with a high HOA is an exception. Those still aren't selling too well.
next to a school is good thing right?
Homeowner with 5 rentals here. We are trying to buy a primary home and have enough $ to win the bid, but we are not winning. Reason : I bid based on how much I value the home, and it is under whatever other people are willing to pay. We are not chasing the market because we have no FOMO and have a strong sense of what the value should be. In fact we sold one recently. Markets feel crazy again. Do what you need to do but please do it with eyes wide open. Good luck ya all!
Why do you feel the need to hoard so many homes?
Shit, that's like a blessing and a curse haha .... Stay strong and the one will appear some day.
The bay area housing market follows the stock market, so no surprises.
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And with every rise in prices, a new (higher) floor sets in 🥺
Friendly reminder that list price is a marketing number and not to be confused to be the market value lol Comp shit out, even a basic 2 min comp session gets you a decent range of value. And if you're good at it, it's like 30 seconds lol
This. You should only look at the delta between comp and sale price. Currently houses are going 5% above comp which is still insane. ie, if list price is 1.9M and shows well, comp of 2.1M sells for 2.2M or so.
What is a comp? Comparable homes?
Nvda money
And Smci
And arm