It definitely feels like two different economies - 1. people paying 2.75% and with plenty of excess monthly liquidity
2. people paying 7% interest and have very strapped monthly budgets

We are in #1 and it feels like we are living in a different world than folks we know in #2.

Anonymous wrote:People are overpricing and properties are sitting on the market. I would check the pricing history, and it would show people trying to list their property at double the price they bought just a year or two ago. It's greed and I am happy their properties are sitting and sitting....

It really depends where. Seems the trend is moving from within DC to the burbs.

Where we're looking to buy in NOVA - and I'm not even talking about the rich areas like Arlington/Mclean, I'm talking outside the beltway under $1M SFHs, properties are all going under contract within days of listing and all selling over.

Within DC, properties are sitting. It feels like a mass exodus though I know that actual recent population stats show DC population increasing, so might just be perception or people being pickier about where they buy.

People are overpricing and properties are sitting on the market. I would check the pricing history, and it would show people trying to list their property at double the price they bought just a year or two ago. It's greed and I am happy their properties are sitting and sitting....

There's simply not that much for sale. The rare gems that pop up are usually pending by the next day. And most of the other stuff is overpriced and sitting.

In my neighborhood townhouses are sitting. But that’s bc they’re pricing them higher than I’d expect

Anonymous wrote:

Anonymous wrote:I'm so old I remember when a "dead market" meant that houses sat and sat.

Which decade?

I remember moving in the mid 1990s and people considered my parents getting an offer in two weeks as a fast sale. And they were in a sought after area. It was typical to take a month to get an offer. And offers were never asking price but 90% or thereabouts of the asking price.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Is it me just not paying enough attention or did the hot spring market grind to a halt after the real estate settlement announcement? I don't see any new listings or much movement (20008, 20016). Is everyone waiting until July 1?

We were planning to list in May, but we will list after July. 10K flat fee to listing agent and that's about it. We have a listing agent ready. Nothing to buyers agent. It will be around 1-1.5% of price.

2 Months are worth waiting for us.

If you already have a listing agent lined up, what's stopping you from doing this now?

Get that discount broker to work now! Don't wait till July!

Anonymous wrote:I'm so old I remember when a "dead market" meant that houses sat and sat.

Which decade?

Anonymous wrote:golden handcuffs bro...low rates locked in and cant afford the same.

+1. I can’t even afford to rebuy my house at current rates and prices. Bought my house in 2013, should have moved in 2018 to a bigger house but instead did an addition. With my current rate and what I owe, I couldn’t afford to rebuy!

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Is it me just not paying enough attention or did the hot spring market grind to a halt after the real estate settlement announcement? I don't see any new listings or much movement (20008, 20016). Is everyone waiting until July 1?

We were planning to list in May, but we will list after July. 10K flat fee to listing agent and that's about it. We have a listing agent ready. Nothing to buyers agent. It will be around 1-1.5% of price.

2 Months are worth waiting for us.

If you already have a listing agent lined up, what's stopping you from doing this now?

Current buyer's agent expectations. It will change and become a non-factor. That's the feedback I got from my agent as well.

Good luck with that.

We had this exact same conversation at this time last year. Inventory is not low because of the settlement, it's low because everyone is locked in to their 2.75% rates.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Is it me just not paying enough attention or did the hot spring market grind to a halt after the real estate settlement announcement? I don't see any new listings or much movement (20008, 20016). Is everyone waiting until July 1?

We were planning to list in May, but we will list after July. 10K flat fee to listing agent and that's about it. We have a listing agent ready. Nothing to buyers agent. It will be around 1-1.5% of price.

2 Months are worth waiting for us.

If you already have a listing agent lined up, what's stopping you from doing this now?

Current buyer's agent expectations. It will change and become a non-factor. That's the feedback I got from my agent as well.

I'm so old I remember when a "dead market" meant that houses sat and sat.

It's Easter week now so people may be hesitant to list until after this weekend, regardless of the other real estate factors.

It’s deader than a dodo right now.