High rates

[Anonymous]

About to put my home on the market. I’m now getting worried that it will sit. Is it still considered a sellers market even with the incredibly high rates?? Typically homes go really quickly in my neighborhood and I foresee that happening to my home but now I’m getting worried people are halting from buying. Please reassure me!

[Anonymous]

It depends on where the home is located. Entirely different market in say, NOVA, where homes are flying off the market way over ask, vs. some areas of DC where homes have been sitting for a long time.

[Anonymous]

Location location location...but its still a hot market. Especially if the home is turn key.

My sister put her home up for sale in NC in a newer housing development (built 10 years ago) in a rural location and it sold in one day. Got a full price offer that made them happy. Buyers were fine to give my sister her sales contingency - wanted to finish out the school year for my nieces.

That was rural locale and they had a bunch of foot traffic.

[Anonymous]

Is it a nice house? Everything in our neighborhood is gone in 2 days, regardless of the condition.

[Anonymous]

List. Multiple offers. Under contract. Total = 2 days. Prices as high as ever and perhaps even a bit higher than last year. That's what the story is like in my neighborhood in a midsize city. We have great schools.

Some very expensive properties are sitting. Some serious estate sales are sitting.

[Anonymous]

Neighborhood does depend, but a decent house will sell. This home is around the corner for me and it sold quickly and over asking.

https://redf.in/YcSOxa

[Anonymous]

Even if the house is overpriced, it’ll still get offers because people are desperate. It just has to be a nice house in a good location.

[Anonymous]

There are bidding wars for homes in my N Arl neighborhood, and they are typically selling for $100K-$200K over asking.