FREAKING out! Please tell me more is about to come on the market!

[Anonymous]

We've had three houses in our neighborhood come on the market in the past few weeks. All three have been under contract within two days (two had multiple offers). It seems a little crazy out there right now.

[Anonymous]

There's a great house for sale in Bel Pre Woods that would need updating and seems to be underpriced on Flint Rock Road.

[Anonymous]

Anonymous wrote:There's a great house for sale in Bel Pre Woods that would need updating and seems to be underpriced on Flint Rock Road.

I love that house! But sadly it is under contract...

[Anonymous]

Anonymous wrote:Good luck, OP! It's frustrating. We wanted to buy last spring and kept waiting for more houses to come on the market. We made a few offers, but it didn't work out. Ended up buying this past winter.

ReAlly? Nine months?
Did you end up buying in your ideal neighborhood? Did you see prices drop or was there just no competition anymore?

[Anonymous]

Anonymous wrote:We are currently under contract with a fast settlement (4/25) and there is NOTHING out there.
We have zoned in on two neighborhoods. One has one house that is $50k overpriced. The other has zero inventory. Stuff is flying off the shelves in two days. Please tell me more is coming? I thought this was the height of the spring market, and if it is, we will be homeless. (Well we are moving in with my mother until we find something, but I hope I can get out of there before school starts!)

Are more houses about to flood the market?!???

With constrained supply, a higher price might be justified even if you don't like it. That is probably your best option.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You can always put letters in the mailboxes of the neighborhoods you're targeting.

"Greetings! We're a family of four who loves this neighborhood and are hoping to buy a house here. If you have been planning or considering selling, please contact me at [e-mail] to see if we can work something out. We may even save the 6% agents' fees."

Does this actually work?
I've thought about doing this it then I think I look like a stalker. Plus, in this market, wouldn't you rather take your chances with a bidding war than selling to some weird, stalker family?

(Sorry if I'm negative, I'm nervous)

I have gotten such letters (we are in a low inventory, fast selling NWDC neighborhood), and I did find them a bit weird. For one, we only bought a few years ago, so it's kind of unlikely we are already planning to sell, and secondly, currently many houses around here get bid up like crazy, and I would want to know what the highest bid for our house is. So I think you have the right intuition if you are looking in a really hot market.

You realize that people were just putting letters out to everyone, and not doing research on who bought when and trying to decide if enough time had passed that they might like to sell now?

This. Some of you are incredibly self-absorbed.

[Anonymous]

Neighbor putting her house on the market next week.

[Anonymous]

I feel the same way OP. Starting to panic.

[Anonymous]

My house is going on the market next week (unfortunately, not in your zip code). It's picking up!

[Anonymous]

Have you looked at Zillow's Make Me Move listings?

[Anonymous]

Anonymous wrote:

Anonymous wrote:You can always put letters in the mailboxes of the neighborhoods you're targeting.

"Greetings! We're a family of four who loves this neighborhood and are hoping to buy a house here. If you have been planning or considering selling, please contact me at [e-mail] to see if we can work something out. We may even save the 6% agents' fees."

Does this actually work?
I've thought about doing this it then I think I look like a stalker. Plus, in this market, wouldn't you rather take your chances with a bidding war than selling to some weird, stalker family?

(Sorry if I'm negative, I'm nervous)

Yes, always go with the open market if you're in a desirable market. But some older people don't want the fuss so might be willing to sell their dated shit shack to someone like this.

[Anonymous]

OP, I don't understand why you sold your house without some place to go?

You could have put a home contingency on offers you make on other houses or you could have made home-of-choice contingency in your selling contract.

Your agent must really suck.

[Anonymous]

Anonymous wrote:We are currently under contract with a fast settlement (4/25) and there is NOTHING out there.
We have zoned in on two neighborhoods. One has one house that is $50k overpriced. The other has zero inventory. Stuff is flying off the shelves in two days. Please tell me more is coming? I thought this was the height of the spring market, and if it is, we will be homeless. (Well we are moving in with my mother until we find something, but I hope I can get out of there before school starts!)

Are more houses about to flood the market?!???

Why do you think the house is 50k over priced, that's the right price, it's only overpriced if it didn't appraise. Go buy it and so complaining.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We are currently under contract with a fast settlement (4/25) and there is NOTHING out there.
We have zoned in on two neighborhoods. One has one house that is $50k overpriced. The other has zero inventory. Stuff is flying off the shelves in two days. Please tell me more is coming? I thought this was the height of the spring market, and if it is, we will be homeless. (Well we are moving in with my mother until we find something, but I hope I can get out of there before school starts!)

Are more houses about to flood the market?!???

With constrained supply, a higher price might be justified even if you don't like it. That is probably your best option.

And if she likes the house that she thinks is $50k overpriced, just write an offer for List-minus-$50,000.

[Anonymous]

Anonymous wrote:
I put these letters in the trash without even reading through them - I find them really intrusive, plus houses naturally sell for more on the open market. No need for private sales.

+1. Certainly useless in AU Park.