100K more than they paid in 2017
, I sure hope they did some quality updates on that home!
Actually, looking at it last night, it's 150k
higher! They did some renovations, put in new appliances and such, but they are making a mint in 3 years of owning a home. If they get asking price, that house profit would be more than I've made working full time for the last 3 years.
Originally Posted by Vadim Shevchuk
I am a Realtor and I'm outta Chattanooga TN. I've seen multiple houses that sold for 299k in 2017 and sold this spring for 399k. Markets dictate the price. IF you made an offer through the listing agent, you might have an edge since they'll want to double dip on their commissions.
We aren't using the listing agent. My wife called a friend who has just sold a house and her realtor swooped right in before I even knew we were serious. The whole thing happened before I realized we were going to be in the mix. I have a couple of realtor customers I would have preferred using but here we are.
Thi9s bidding idea seems to indicate an erosion of the ethics that realtors used to been sworn to uphold. At one point the real estate groups had a code that required each bid to be presented to the sellers as they were received and it did away with lots of the silliness I now see in real estate.
No doubt, I don't understand the point of bidding if there's no counter or negotiation. I guess the homeowners want to make a decision right away? Very different experience from buying my first house.
Where I live (not a large city at all), you have no chance of getting your offer accepted if you offer anything less than asking price. Even then, you still probably won't get it, because there are people coming in from out of state buying properties with cash. Real estate market has been crazy the past couple of years.
Certainly possible this will happen here. Saw a very fancy SUV with NY plates in the driveway yesterday. We live in such a tourist area that the local AAA baseball team's mascot is -and I'm not joking -the Asheville Tourists. Property value is skyrocketing in part because so many people from out of state are buying up homes for summer residencies. One of the nicest houses on my street has people living in it maybe 3 weeks out of the year, and some years they haven't come at all. They keep a lawn service, have had the house painted, all the things you do when you own a home but only rarely vacation there. But that kind of buyer has a big impact on home prices.