in 22180.Anonymous wrote:Anonymous wrote:Anonymous wrote:I can't figure out the pattern for which houses sell quickly and which houses don't. We just had a house on the main road (major traffic) with three bedrooms sell for $1.4 million in a day or two. Meanwhile, a better located (albeit smaller) four bed for $1.05 million has been sitting for months. A larger house that's probably overpriced and listed for $1.7 has also been sitting for months. But a $4 million gut reno sold in days.
What did they look like inside? IME people in their 30s buying their first house are scared of anything that isn't instagram-worthy. If a house needs even the tiniest bit of work (like there are carpets in the bedrooms or the cabinets have outdated hardware or there is yellow paint on the walls), they run away.
This trope is sooooo tired. First time buyers are stretching as far as they possibly can to buy their first home, literally tapping out all savings to buy $1M++ homes. They have no $ left to repaint a whole house, replace outdated fixtures, etc. They also probably have little kids and demanding careers and don’t want to spend their free weekends making cosmetic improvements (or hiring out - but they’ve never owned a home before so they don’t have a Rolodex of contractors to reach out to get quotes). Updated, reasonably priced homes come up every so often - it’s just not worth it to offer on a boomers outdated home that needs work, sorry.
Anonymous wrote:No more bidding wars like in spring 2024.
Anonymous wrote:Anonymous wrote:I see houses in my neighborhood at 22032 are still selling like hot cakes. no inventory and they come out for $1.5M and get snatched quickly.
Niche puts your neighborhood feel in the "sparse suburban" category. Sounds horrible.
Anonymous wrote:Anonymous wrote:Anonymous wrote:I can't figure out the pattern for which houses sell quickly and which houses don't. We just had a house on the main road (major traffic) with three bedrooms sell for $1.4 million in a day or two. Meanwhile, a better located (albeit smaller) four bed for $1.05 million has been sitting for months. A larger house that's probably overpriced and listed for $1.7 has also been sitting for months. But a $4 million gut reno sold in days.
What did they look like inside? IME people in their 30s buying their first house are scared of anything that isn't instagram-worthy. If a house needs even the tiniest bit of work (like there are carpets in the bedrooms or the cabinets have outdated hardware or there is yellow paint on the walls), they run away.
This trope is sooooo tired. First time buyers are stretching as far as they possibly can to buy their first home, literally tapping out all savings to buy $1M++ homes. They have no $ left to repaint a whole house, replace outdated fixtures, etc. They also probably have little kids and demanding careers and don’t want to spend their free weekends making cosmetic improvements (or hiring out - but they’ve never owned a home before so they don’t have a Rolodex of contractors to reach out to get quotes). Updated, reasonably priced homes come up every so often - it’s just not worth it to offer on a boomers outdated home that needs work, sorry.
Anonymous wrote:Anonymous wrote:I can't figure out the pattern for which houses sell quickly and which houses don't. We just had a house on the main road (major traffic) with three bedrooms sell for $1.4 million in a day or two. Meanwhile, a better located (albeit smaller) four bed for $1.05 million has been sitting for months. A larger house that's probably overpriced and listed for $1.7 has also been sitting for months. But a $4 million gut reno sold in days.
What did they look like inside? IME people in their 30s buying their first house are scared of anything that isn't instagram-worthy. If a house needs even the tiniest bit of work (like there are carpets in the bedrooms or the cabinets have outdated hardware or there is yellow paint on the walls), they run away.
Anonymous wrote:I see houses in my neighborhood at 22032 are still selling like hot cakes. no inventory and they come out for $1.5M and get snatched quickly.
Anonymous wrote:I can't figure out the pattern for which houses sell quickly and which houses don't. We just had a house on the main road (major traffic) with three bedrooms sell for $1.4 million in a day or two. Meanwhile, a better located (albeit smaller) four bed for $1.05 million has been sitting for months. A larger house that's probably overpriced and listed for $1.7 has also been sitting for months. But a $4 million gut reno sold in days.
Anonymous wrote:Homes are 17 percent cheapter than 12-31-2024 if one had their money in US Stocks.
Anonymous wrote:Anonymous wrote:It's pretty simple.
The $1.4mm house on a main road is updated. Sold fast.
The $1.05mm house is not updated. Sitting for months.
The $4mm gut reno is renovated. Sold fast.
+1
Well-maintained homes sell. The others do not.