by Dick Hall-Sizemore
I keep reading and hearing that the housing market has cooled. Well, the folks in my neighborhood have not gotten the message.
About three weeks ago, a house a block and a half from me went on the market. It quickly went under contract. Then, a couple of weeks ago, a “For Sale” sign went up in front of a house near mine. Within two or three days, the owner had five offers, at least two of which were for more than the listing price and one of those was a cash offer. The offer that was ultimately accepted was significantly above the listing price; the buyer was pre-qualified; the offer included no contingencies, not even a home inspection; and, in case the appraisal was less than the amount being offered, the buyer stipulated that he/she would cover a significant amount of any difference.
This house is in good condition, but the final sale price was about the same as that for a larger house also in fine condition down the street that sold last summer when interest rates were about half what they are today.
On my morning walk today, I saw a house on another street with a realtor’s sign denoting it was “Sold”.
My reassessment and tax bill for next year just went up.
Oh, to be a Realtor these days!