Home sales

[Brat]

One family member with a 7 yr adj mortgage just sold (sale pending - maybe shouldn't count this chicken just yet), moving on to a houseboat.

Other family member closed last week (divorce), moved to rental apartment.

I am no realestate maven but think their moves were well timed.

 

[dex]

I agree on the timing. I just sold last week.
I think the combination of increasing interest rates; high energy prices to come and doesn't everyone who wants a house have a house?

 

[kayelem]

We just sold our house also. Close in November, but a hefty amount of earnest money. So I don't think they will back out.

I feel pretty good about the timing. Our windows are drafty and it's going to be a cold winter.

We are moving from a high cost market (Arlington, VA) to a low cost market (Charlotte, NC) so hope to stash money in the bank.

 

[Mr._johngalt]

Where we are (rural northern Illinois) the real estate market is still HOT. I follow this stuff closely just because I am interested.
In our sub (mostly waterfront) the sign barely goes up
(or sometimes never even gets up). One guy with a crappy looking place right next door just sold his cottage quick! He also
owned a big house about 10 miles away. I asked him if he
planned to live there. He said "Nope, sold it!" Listed on July
5 and sold on July 6. Right now there is nothing (improved)
for sale in our subdivision. One thing that is really helping us
is our proximity to Chicago (90 miles).

JG

 

[Mr._johngalt]

Where we are (rural northern Illinois) the real estate market is still HOT.  I follow this stuff closely just because I am interested.
In our sub (mostly waterfront) the sign barely goes up
(or sometimes never even gets up).  One guy with a crappy looking place right next door just sold his cottage quick!  He also
owned a big house about 10 miles away.  I asked him if he
planned to live there.  He said "Nope, sold it!"  Listed on July
5 and sold on July 6.  Right now there is nothing (improved)
for sale in our subdivision.  One thing that is really helping us
is our proximity to Chicago (90 miles).

JG

Oops..............an update. A "For Sale" sign just popped up
right across the street. Just under 1000 SF, pretty much all updated inside. No garage. Big deck. Off water but with a water view
and the lot is maybe an acre. 2 BR, 1 bath. Asking $85,000.
Sounds about right.

JG