Wow Steph, that reminds me of a FSBO house I saw a few weeks ago that hiked its price UP $100k (when the original asking price was somewhat optimistic for the mediocre property being offered). Some people's approach to the real estate game bears no resemblance to reality.
Their asking price is in line with the appraisal (and the realtor is pretty sure they could get a decent amount over the asking price if they list it); even so, we expected the first bid to be under the asking price, but not by $120k. Yeesh.
Seeing the judge scolding Alex Jones, and the amazing text story, just a highlight of the day. He is so despicable. What he did to those grieving parents is just horrifying.
In other delightful news, my ridiculously adorable nephew is 2 today and if you are in the friend group on FB you can see the adorableness here - [link]
Their asking price is in line with the appraisal (and the realtor is pretty sure they could get a decent amount over the asking price if they list it); even so, we expected the first bid to be under the asking price, but not by $120k.
I feel like someone did the same thing to my mom and uncle when they were selling my grandparents' house. Probably a neighbor. I wonder if it's a tactic people are getting from somewhere.
What a couple of cuties, Laura!
When we made our bid in February it didn't feel like we were getting a particular deal. The building had been put on the market and didn't sell. Then came back at a lower price, but we knew there was a lot of interest so we overbid it back up to its original selling price. And then we were overbid, but our awesome real estate agent pushed our deal through to commitment before that bid came in.
We knew that this neighborhood was starting to heat up, and we heard from other brokers in the area that both UCSF and big tech companies were buying up Victorians to provide housing for workers who couldn't get places elsewhere. It made sense since the houses just keep climbing in value to go ahead and buy.
So here we are a few months after purchase and according to Redfin our place has already appreciated in value $82K. Also, when we got our mortgage our financial advisor apologetically said, "Can you believe it? Interest rates just went up last week!" But that was the first uptick on the prime rate for years and it was still very low in comparison to where it's trending now.
It didn't look like a deal in February but it's turned out to be a great deal in August.
It's interesting looking at the Redfin listing after we closed because then they showed the pictures of its previous sale back in 2003, and we could see how they had laid out the rooms and what the price was back then. It doubled in value in 20 years.
Scroll down to the bottom if you're curious about that stuff: [link]
I wonder if it's a tactic people are getting from somewhere.
It kind of feels like the real estate version of negging.
It kind of feels like the real estate version of negging.
The potential buyer is a landscaper, and he said in his bid that the property would require "at least $30,000 of landscaping," and it totally felt like negging!
Back when we bought the house I live in now (2007, right before that real estate crash because I have amazing timing) I know a neighbor put in a low ball bid. I don't know *how* low, but other neighbors and the real estate agent all mentioned it (we just offered asking)
We bought the Delray house in 1999 and sold it in 2022 for more than 8X what we paid for it. It shows a value now somewhat higher than we sold but I felt we got out at the right time. Still struggling over finding new digs, but it will happen.
In great news, DH is heading this way Saturday. He has to drop a kid to college in St. Pete then head this way being here by Monday. I hope the porch is somewhat done before he gets here, but it will be really good to have him here for a bit.
