Reply to Is there going to be panic selling?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]We thought we had a good chance at a house in a very nice part of Alexandria and went back to the open house today.  While we were there for 10 minutes, there were three other couples who were also having a second look and all of us had done pre-inspections.  We just looked at each other and said "good luck."    We are waiving everything and paying $75K above the asking price that was $24,000 higher than the most recent comp from November 2024.

I am not sure whether to wait for the panic selling or wait each weekend and watch the prices get bid up.

Any advice?[/quote]
I would wait. Unfortunatley for our area, you'll be able to scoop up a deal as things get worse.[/quote]

Uh oh, I’ve heard this before. Remember all those people just a few years ago who smugly decided to sit out the crazy market but then came back here crying because they were suddenly priced out? The only sane advice is to buy what you can afford and don’t try to time the market.[/quote]

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