Anonymous
Post 06/23/2023 23:42     Subject: Re:How is the summer market?
Anonymous wrote:My bad, I transposed a digit.

23 sales over the last six months in the entire county. Still not "flying off"





How many have been on the market in the past 6 months?
Anonymous
Post 06/23/2023 21:55     Subject: How is the summer market?
We've been in the market since April. Have consulted with 3 different realtors. All have told us- and our experience matches- that offers significantly over asking with all contingencies waived have been the winning offers. We're picky so we've only put in one actual offer of 50k with void only home inspection and lost to 100k no contingencies. We have seen many other houses that closed a month later for way more than we thought the place was worth (priced high and needs a lot of work and still closed above asking).
Anonymous
Post 06/23/2023 13:55     Subject: Re:How is the summer market?
Housing will probably hang in there until rates drop below 4%.

Once this happens people can afford to sell their current house and buy something else.

Inventories will then explode and prices will drop.

Now, for what reason would the Fed ever lower rates below 4% again?

A severe recession.

They’re not going to cut when the economy is fine.
Anonymous
Post 06/23/2023 13:42     Subject: How is the summer market?
Anyone who can wait should consider doing so. Fall is always much slower and a better time to buy. Plus, many market analysts think that consumer demand will slow significantly once student loan repayment resumes in a couple months. Also, there is stock market euphoria right now, with Apple, Meta, and other tech stocks going gangbusters, and this can't last forever. All in all, it actually makes sense that the housing market is still nuts, but not clear that this will last much longer.
Anonymous
Post 06/23/2023 13:19     Subject: Re:How is the summer market?
Anonymous wrote:My bad, I transposed a digit.

23 sales over the last six months in the entire county. Still not "flying off"





I don't know, roughly one house/week in this range selling seems like a pretty good clip to me. Most houses cost less than this range.
Anonymous
Post 06/23/2023 13:12     Subject: How is the summer market?
Anonymous wrote:
In Bethesda it's practically frozen. Prices have stagnated or come slightly down from last year, but the problem is inventory. It's always been inventory. There aren't enough homes for everyone, and the homes that sit are overpriced for their flaws. There are practically no smaller homes for families just starting out, and there is a number of very large expensive homes - in that price range, people get really picky so sale periods are more protracted.

The market this year has been seriously disturbed by high interest rates. People don't want to leave their low mortgage rates to pick up a ridiculously high one, and that goes for sellers and buyers, even in wealthy areas where a number of transactions are in cash.



NP here - We're looking to buy in the 2 M range and sell out house at the 1.1M range, both in Bethesda, and this is exactly what I have observed.
Anonymous
Post 06/23/2023 12:53     Subject: How is the summer market?

Bethesda remains on fire, not enough inventory and crazy run-up bidding.

Then again, it's never not this.
Anonymous
Post 06/23/2023 12:51     Subject: Re:How is the summer market?
Anonymous wrote:My bad, I transposed a digit.

23 sales over the last six months in the entire county. Still not "flying off"





You are unhinged.
Anonymous
Post 06/23/2023 12:18     Subject: Re:How is the summer market?
My bad, I transposed a digit.

23 sales over the last six months in the entire county. Still not "flying off"



Anonymous
Post 06/23/2023 11:32     Subject: How is the summer market?
I am working with an Arlington/Mclean client with a price range of about $2.5 million; the market is very busy, with "good" properties (i.e. on a desirable street with a good lot and updated) flying off the market. Properties with good tear down potential are also moving fast. The prices (thankfully) are not spring/early summer of 2022 prices. Sometimes there are contingencies. It's a pretty strong seller's market with plenty of demand.
Anonymous
Post 06/23/2023 10:47     Subject: How is the summer market?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:I’m helping buy a home for my kid and his wife and we just had an offer accepted. Price range was sub 575k. Absolutely everything had multiple offers, often 6+. Search was limited to loudoun county. Everything is being bid up. Realtor said this is the craziest market she’s ever seen. Ended up waiving all contingencies including appraisal.



DP but I’m not sure why you keep making fun of this person. Not sure where you live but we bought two months ago and yes, overask, no contingencies, waived inspection and free rent back is what it took to get a house. It’s crazy but it’s not made up.

No, you didn't. Stop lying.


NP. I just sold a Rockville townhouse that went $50,000 over asking - five offers after first weekend; all cash offer won.

You're not gonna disclose the MLS ID, are you?

Because it's a lie.

Since you just sold, the MLS ID should be very very handy.


NP, but geez chillax dude. Just run a search for sold Rockville townhouses. In one minute, found this one that went for $75K over asking:

https://www.zillow.com/homedetails/2031-Ashleigh-Woods-Ct-Rockville-MD-20851/58240775_zpid/

No it didn't.

The owners wanted $716K, they listed lower thinking there will be a bidding war, but it didn't happen. Their pricing history shows it.

Like I was saying, lies, lies and more lies. Finding one random sale that meets the criteria of over asking (which even this one really wasn't) is meaningless. And the prior post of "shut up" is exactly the kind of response you get when presented with reality.

Anonymous
Post 06/23/2023 10:29     Subject: How is the summer market?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:I’m helping buy a home for my kid and his wife and we just had an offer accepted. Price range was sub 575k. Absolutely everything had multiple offers, often 6+. Search was limited to loudoun county. Everything is being bid up. Realtor said this is the craziest market she’s ever seen. Ended up waiving all contingencies including appraisal.



DP but I’m not sure why you keep making fun of this person. Not sure where you live but we bought two months ago and yes, overask, no contingencies, waived inspection and free rent back is what it took to get a house. It’s crazy but it’s not made up.

No, you didn't. Stop lying.


NP. I just sold a Rockville townhouse that went $50,000 over asking - five offers after first weekend; all cash offer won.

You're not gonna disclose the MLS ID, are you?

Because it's a lie.

Since you just sold, the MLS ID should be very very handy.


NP, but geez chillax dude. Just run a search for sold Rockville townhouses. In one minute, found this one that went for $75K over asking:

https://www.zillow.com/homedetails/2031-Ashleigh-Woods-Ct-Rockville-MD-20851/58240775_zpid/
Anonymous
Post 06/23/2023 10:28     Subject: How is the summer market?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:I’m helping buy a home for my kid and his wife and we just had an offer accepted. Price range was sub 575k. Absolutely everything had multiple offers, often 6+. Search was limited to loudoun county. Everything is being bid up. Realtor said this is the craziest market she’s ever seen. Ended up waiving all contingencies including appraisal.



DP but I’m not sure why you keep making fun of this person. Not sure where you live but we bought two months ago and yes, overask, no contingencies, waived inspection and free rent back is what it took to get a house. It’s crazy but it’s not made up.

No, you didn't. Stop lying.


NP. I just sold a Rockville townhouse that went $50,000 over asking - five offers after first weekend; all cash offer won.

Gimme the MLS ID, I'll show the report.


Shut up, you’re an idiot desperate for attention
Anonymous
Post 06/23/2023 10:23     Subject: How is the summer market?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:I’m helping buy a home for my kid and his wife and we just had an offer accepted. Price range was sub 575k. Absolutely everything had multiple offers, often 6+. Search was limited to loudoun county. Everything is being bid up. Realtor said this is the craziest market she’s ever seen. Ended up waiving all contingencies including appraisal.



DP but I’m not sure why you keep making fun of this person. Not sure where you live but we bought two months ago and yes, overask, no contingencies, waived inspection and free rent back is what it took to get a house. It’s crazy but it’s not made up.

No, you didn't. Stop lying.


NP. I just sold a Rockville townhouse that went $50,000 over asking - five offers after first weekend; all cash offer won.

You're not gonna disclose the MLS ID, are you?

Because it's a lie.

Since you just sold, the MLS ID should be very very handy.
Anonymous
Post 06/23/2023 10:05     Subject: How is the summer market?

In Bethesda it's practically frozen. Prices have stagnated or come slightly down from last year, but the problem is inventory. It's always been inventory. There aren't enough homes for everyone, and the homes that sit are overpriced for their flaws. There are practically no smaller homes for families just starting out, and there is a number of very large expensive homes - in that price range, people get really picky so sale periods are more protracted.

The market this year has been seriously disturbed by high interest rates. People don't want to leave their low mortgage rates to pick up a ridiculously high one, and that goes for sellers and buyers, even in wealthy areas where a number of transactions are in cash.