Reply to SPRING MARKET!! What's the vibe?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]the market is very intense right now. i have lost out of multiple properties because someone placed an offer 5-10% over asking price. [/quote]

Which neighborhoods?[/quote]

Yorktown HS pyramid. It's like the Hunger Games rn. [/quote]

I think it’s the Hunger Games everywhere. In my target area in a non Yorktown neighborhood in Arlington, listings are getting snatched within days. It’s the weirdest thing because [b]even overpriced listings in south Arlington are getting snatched, [/b]while being one of the dullest spring markets in years as far as the number of the listings. [/quote]

If they are “getting snatched” then they aren’t overpriced.[/quote]

Going x% over listing is a stupid metric.  We listed our house a few years ago at an aspirational price and it sat and we delisted after getting offers we weren't happy about.   This time, we priced it low and had a bidding war and sold it in 72 hours at a price we thought was reasonable.  Our realtor can brag about getting us $xk over asking, but it's a false statistic--the house sold at the price at which the market would bear, which is lower than it would have been a few years ago when interest rates were lower and the DMV wasn't decimated by all this job loss.

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