My sister listed her house last Friday for what I thought was a reach. Had 7 offers over the weekend and went under contract today for 10% above asking. I am happy for her but for the fact that she plans on buying a new home this spring...

Anonymous wrote:

Anonymous wrote:With the possible change in administration it might actually be a more active market than usual. Who knows.

Huh?

First of all, Biden is going to get reelected. Probably by a large margin.

Second of all, the current administration doesn’t end until a 11 1/2 months from now.

Ouch! hit a nerve?

Our suburban house right outside the Beltway went "coming soon" beginning of January and essentially sold before going "live" on the market two weeks later. We got over asking, no inspection and no contingencies. This is in the Lewis HS pyramid. We settle in two weeks. So yeah, maybe this buyer was anxious to secure a home. When we signed the buyer's contract there were three homes that popped up on the market so we were lucky in that we were the first on the market in our neighbhorhood.

There are exactly 5 listings right now in my neighborhood. Usually there would be around 20. Homes are selling quickly.

More of the same. The new construction houses will sit, the $750k to $1.25M houses will fly, and nobody will list unless they have to move.

Based on my, admitadelly anectodal evidence of listings I have seen in the 0-1.5m range of THs and SFHs in N Arlington, many listings seem to be coming to the market and going under contract fairly quickly. Especially at or under the under $1m mark.

Neighbors house went under contract in six days and had seven offers with escalation clause up to 70k over ask. On a house in the 800s in Fairfax thar is pretty decent sign of a hot market. I was a bit shocked honestly. House has issues.

Everything I've been reading forecasts a hot Spring market in DC due to lower rates, very strong economy, and tons of demand with little supply.

Anonymous wrote:With the possible change in administration it might actually be a more active market than usual. Who knows.

Huh?

First of all, Biden is going to get reelected. Probably by a large margin.

Second of all, the current administration doesn’t end until a 11 1/2 months from now.

Market is going to go up 20% every year in perpetuity. Buy all the real estate you can!!! You can't lose!!!

Anonymous wrote:With the possible change in administration it might actually be a more active market than usual. Who knows.

For the 100000th time, changing presidential administrations don't impact the housing market, here.

Anonymous wrote:With the possible change in administration it might actually be a more active market than usual. Who knows.

What does that have to do with anything?

With the possible change in administration it might actually be a more active market than usual. Who knows.

Anonymous wrote:Spring is going to be crazy. Bring cash, get ready to escalate, and waive everything. And don't forget to tip your realtor.

Yes, my agent is great. I am giving them 10% on the selling side, and they're giving me this great advice to price low and hope for a bidding war (and if the bidding war fails to materialize, at least I'll let a quick sale!). On the buying side, they have told me to waive everything and escalate at least 20% on any offer. I love this guy!

Spring is going to be crazy. Bring cash, get ready to escalate, and waive everything. And don't forget to tip your realtor.