So, there’s a real estate show I listen to on Tuesdays on my drive home.
2 stories they told tonight were indicative of the real estate market around here these days.
The first was about a home that wasn’t particularly attractive and was a bit of a fixer-upper, that was listed at $417,000.
It was on the market for over 5 months when the price was dropped to $395,000, and a bidding war ensued. It ended up selling for $430,000...!!!!!
The second was about a house that was already under contract. A second potential buyer came in and offered the seller 10% more to tear up the contract. The seller said it would be wrong to do that and wouldn’t do it.
2 days later, the second potential buyer countered by not only offering the seller 10% more, but, also offered the buyer under contract
and his real estate agent 10% to tear up the contract and just walk away. They did not take the offer.
The amount for each would have been a little over $40,000...!!!!!