What is it with some NE Florida home Sales?

[shafer9]

I’m old. Been through this before. Feels a little frothy and pumped up. All these buyers better stay for a while, prices are gonna come down.

 

[harley]

I wonder if all these people will be able to continue to work from home once the pandemic is over. I know DD's boss wants everyone back in the office, although not to the extent of endangering people now. But once it's over I suspect it will be all hands on deck, with a little more leeway to work from home when you have a cold or a sick kid or something. Moving to the boonies might result in a very long commute, or limited opportunity to change jobs.

We have a house on the Eastern Shore of MD, right on the water. I'm not ready to sell, although I've been thinking about it. But there's no way I'd live there if I had to work. There's a reason the big cities are crowded. That's where the opportunities are. Pandemics are not forever.

Edit: I have been averaging two texts per day from friendly people who would like to buy our houses in Reno. Also got a postcard today for the same reason. Oh well, I'm not ready to sell those yet either.

 

[ransil]

My recent experience. Like a half hour ago. Got a call. answered it thinking it was the neighbor checking on me. It was some guy from a real estate outfit basically running a list and cold calling people asking if they want to sell. Now. We'll make you a good offer. I have never gotten a call like this before. The property he had me listed as owning was the mobile home park I moved out of about 10 years ago.

Sounds like there might be some kind of organized (loosely or tightly) group of players (nationally or regionally) shaking-the-tree for real estate. Possibly for some kind of quick kill / fast buck operation, or possibly just storing up available assets for an advantageous time in the intermediate future.

I get post cards , text msg and phone msg weekly asking if I want to sell.

 

[sanfanciscotreat]

I am getting inquiries to buy houses I do not own.

 

[pjigar]

I am getting inquiries to buy houses I do not own.

Lol. Same here.

 

[Out-to-Lunch]

I am getting inquiries to buy houses I do not own.

Lol. Same here.

Sell! Sell!

 

[pjigar]

Sell! Sell!

I plan to sell current house this spring. Our farmhouse is ready to move in.

 

[EdL3]

Nebraska resident. I’ve been getting calls for months about 2 ~ 200k homes we own in a great zip code. We have no interest in selling. Houses in that price don’t last for more than 2 days. Conversely the 500k+ ones last about a week. The rental market here is ridiculously high.

All of the previous mentioned factors (low interest rates, higher construction costs, need for space, stock market, etc.) are driving the prices up. Several of my neighbors were planning to downsize right before the pandemic and realize they need the space so they won’t kill each other.

Every house to the left, right, and across us has had some major remodel work in 2020. We also did a partial kitchen remodel, and changed out 6 ceiling fans.

 

[Montecfo]

Neighbor accepted contract the day the house went on the market. They cancelled 60 showings scheduled for Saturday after listing.

 

[travelover]

It is crazy. Here in Portland area a pressure treated 2x4, 8 feet long is now $11, was half that a year ago. My camper has appreciated 50%. Replacement RV parts are scant.

 

[ExFlyBoy5]

It is crazy. Here in Portland area a pressure treated 2x4, 8 feet long is now $11, was half that a year ago.

I think that's pretty common everywhere right now. Quite expensive to build.

 

[HawkeyeNFO]

2 refi's about a year apart, with an appraisal for each one. My house value went up 20% in 2020.

 

[harley]

We've got a house in our brand new NoVA neighborhood that's been on the market for a couple of weeks, with no visible action. But they're the first house in the neighborhood, close to the new shopping center that's being built. Lots of construction, noise, and of course the big Mattress Warehouse sign that is probably visible from their back window is a big selling point. Ill be curious to see if it sells. I'm relatively sure if they listed it next year after all the construction was finished it would sell in a reasonable amount of time.

 

[RetireeRobert]

Seems virtually every home in our general area, that are in decent developments, that were for sale are now pending or contingent. A lot of these homes are > $750k and >$1m, at least in our subdivision.

Some have not been on the market for more than 1 - 4 weeks. Is this the start of another RE bubble?

Seems odd that during a Pandemic home buying would increase. What is your area like?

I think it is generally a nationwide condition. Homes all through out western Oregon Willamette Valley sell at or above list, often with multiple offers. I heard a radio show just yesterday about Corvallis, about 50 miles southwest of me, with resale homes selling on average at 15% to 20% "above list price"! You can be sure that caught my attention, as I have been mulling downsizing from my acreage home.

There is only a 1 month supply of re-sell inventory while 5 months supply is considered the norm.

It seems to be a pandemic generated condition. "Too little supply" of resale homes due to the pandemic, so whatever does go up for sale is grabbed by the more normal supply of buyers. That's what I have heard discussed on a few real estate shows and websites.

 

[Nick12]

It’s crazy here in central Florida. Homes here rarely stay on the market for more than a few days. I’m wanting to relocate to the east coast of Florida and that market is nuts too. Very low inventory and inflated prices. When my agent sends me a listing if I don’t go down that day (a 3 1/2 drive each way) it’s gone by the next morning. Can’t find anything that I want to buy. I have reasons I want to move now but might have to wait for awhile.

Every day several times a day I get calls if I want to sell my home. At this point I just don't answer my cell and let it go to voicemail.

 

[Surewhitey]

Dallas is stupid hot in our area. Removed the pending & only a handful left on busy streets and insane prices. They're buying homes in our area for $300k & leveling / rebuilding on 8k sq ft lots.

We bought in 2015, sold in 2018. Cleared $100k after minor remodeling.
Bought 2018 & are likely up $50-60k (we live in the "inexpensive" area).

Scale shows the 9 mile bike path around the lake...

I do minor upgrades to cabinetry and kitchens and have never been busier. Lumber is a real problem going forward with prices I've never seen so quickly inflated. It will be sooner than later imo. Who in their right mind would build a home with $5-6 studs?