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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I’m not so sure I’d take my sweet time to make an offer on a good house in this market if something came up that I liked and I was a serious buyer. A house came on the market in my neighborhood this past weekend for a cool million and was pending before the weekend was over. It was clearly better than the junkers that have been languishing on the market all winter but it surprised me. I’m in a desirable nova neighborhood (at least to me) but not what i think of as a typically “hot” one. This is just one house but i agree with others who say there is going to be competition for few good houses.[/quote]

I tried to say this in another thread and was accused of being a realtor. I'm actually looking to buy. Any home could go under contract at any moment. I'm not trying to revive the dreaded FOMO, but I wouldn't assume that you can wait several days to go see a home you may want to buy and it will just be there waiting for you.

I'm seeing the large, updated $2.25-3.25M homes go under contract within a few weeks (not DMV). Some even go under contract the same day. It appears that many are selling for cash because the closings are very fast. New builds sit on the market until they're within a few weeks of completion. They used to get snapped up much earlier in the process. Homes that need work sit a while then generally sell for under list. Smaller, updated homes usually sit a while too unless they're priced very well. Large, expensive homes that need updating sit. Prices have dropped, but they're still above 2019 prices. We're sort of at 2021 prices for everything except the large, updated homes and new builds. Those are at peak prices.[/quote]

I closed on a property last month. It was the first week in January when I went to the open house and there was hardly anyone there. I didn’t assume I had all the time in the world to make an offer. I liked the property, it was priced well and I made an offer. The home had been on the market 4 months. While the other 4 interested buyers mauled over their decisions, including asking for second showings, my offer was accepted. I waved inspections. I’m not new to this game, I knew the property was solid based on my observation during the open house. Even after my offer was accepted, one of the other buyers asked for second showing, in case our contract falls through. We’re very happy with this purchase. [/quote]

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