JT over on the other side of Florida here (Marco/Naples). Things are just as crazy here. I wish you luck on your new housing adventure.

This is happening all across the country.

Congratulations!

This sentence was added to a listing close to my neighborhood yesterday morning. Twelve hours after the listing went live.

Originally listed for 330,000, 3/2, pool, 2 car garage...nice size lot. clean house, original (1970s) bathrooms, you can see the golf course if you lean out a window.

eta: 1500 sq ft

”MULTIPLE OFFERS-REQUESTING HIGHEST AND BEST BY 5:00 TODAY/SATURDAY”

My neighbor received over 20 above asking price site unseen offers before officially even listing. Coming soon postings go under contract above listing price here so no open houses are happening it is so hot presently.

good luck with your move!

It's not just Florida. We closed on our rental house this past week. Apparently we have a housing shortage. I had two people approach me about selling the house, so I never even actually had to put the house up for sale; nor did I hire a realtor. I had an appraisal done a couple of months ago and came up with what we thought was a very fair price. I really did not feel good about playing bidding game. These people live nearby, wanted the house and the adjoining lot (total of around 5 acres for both lots). I gave them the price and they didn't bat an eye. It was a cash sale, so none of the things that slow down a sale involving a mortgage company. I hired a title company and that was that! My sister and BIL are moving out-of-state (to their retirement home) and sold there house here. Put it up for sale on a Friday, had an offer Monday, close next week.

Wow all, it is crazy! I’m so glad my youngest bought a townhome in the last crash or he would have an almost impossible time of it. My oldest of course didn’t listen to his momma on buying something then.

I could have started a bid war

as there are three nipping at the heels of the high bid and too many to count just behind that. My conscience just won’t let me. First of all I really like the people with the highest bid.. Secondly, the price they are paying just seems so extravagant.

It looks like I might focus on a condemned house for the land.

Maybe. Part of me wants to build. Would have to wait till after the building supply shortage ends.

Good luck, JT!

DH's best friend and his wife are buying a house in California. This is especially a giant accomplishment for them since neither have a college degree, and they thought they'd have to rent forever. They are getting an FHA loan. The house is smaller than ours, in a not-so-great area, but has a nice garage and fenced yard for their dogs. But the competition is crazy.

I’m really happy for you Terri-Lynn! I hope that you can find a great new place to live soon. Here in New Mexico, the market is also a crazy sellers’ market. I‘ve heard that a lot of these buyers are moving here from California. The house next to us sold within a few days. I knew it would because of our incredibly beautiful views, the acreage around each home, as well as the home itself which is gorgeous. The activity with potential buyers was mind-boggling! And, I imagine that the only reason that it took a few days instead of just one was because of the bidding war there as well! DH said this would be a great time to sell ours if we were wanting to do so but, as mentioned here, really tough buying that next home!

Lynn, there's a guy from the Mustang club who's selling his house to travel in his RV full time, towing his Mustang, so there's always that option!

Yep real estate is simply past comprehension right now.

We just sold my MIL's house in a nice suburb of Miami (Coral Gables for anyone who knows SoFla real estate). It's in a tony area but the house itself is a basic ranch-style 3/2 suburban model.

Had the same insane experience as terrilynn. Our trusted realtor raised what we already thought was an aggressive asking price by 5% the day before listing. The morning it went live we had multiple offers over ask without people even seeing the house(!). Within 48 hours there were 13 offers, all but one over ask, 5 cash and the one we accepted was 10% over the aggressive initial price. Truly unbelievable. Since my MIL is in the final stages of dementia this money will ensure her care for the rest of her life plus no worries on the other side since she's certainly not going to be buying anywhere else.

OTOH our tenants notified us earlier in the spring they wouldn't renew their lease because they plan to move to Orlando and wanted to relocate in time for their kids to start school there this fall.

So we agreed they could rent on a monthly basis, intending to be out by July BUT they simply cannot find anything to buy or rent in Orlando now! Could be a bit sticky; I told them we will work with them but frankly as a landlord I really don't want to wait till we are in the later months of the year when it's harder to find tenants (after school starts). We shall see.

My daughter in the DC suburbs and her fiance tried to buy in the Arlington market and lost 7 houses. They simply couldn't compete with all cash buyers who waived every contingency. Finally they shifted their focus a bit further out in the suburbs and got a really nice townhouse in Falls Church. So it worked out but I was really shocked at this market from that young buyer's perspective.

That is fabulous Just_Teri! I hope everything goes smoothly for you.

If we were closer to retirement, I'd list our home in a heartbeat. I'm confident it'd bring 3x's what we paid.

Congratulations, JT, it’s hard to time the market but after the sale you will have done the first part. Well

done!

I am also happy for you Terri lynn, but a word of warning. Get a rental or a place to move into before your closing date. Ask me how I know?

Congratulations, JT! Here too, houses are flying. I keep getting emails and flyers from realtors asking if we want to sell our house. I almost entertained the idea of selling and moving into one of our two rental homes where the lease expires in a month, but the young tenants want to renew the lease. I don’t have the heart to ask them to move out.

Congratulations! Looking forward to hearing more about your next move (or RV adventure). :)

Good for you! All I can say is I'm so grateful I'm not looking to buy real estate right now and I feel sorry for those who are.

I’m fortunate in that I have my sons townhome to live in. We expect to be there a year or two. In the meantime I will keep an eye on auctions and a few other unconventional approaches to securing some land. I would like to keep a toe in the game.

I‘m still getting offers as we speak even though the listing shows pending. At this point we are close to losing count. I have gotten back to each and every one though. I’m not closed till closing. It sort of breaks my heart that some of the sweet younger couples never had a chance in this cash talks game.

It is crazy all over, here in So Cal my DH’s aunt listed her condo at a price she considered too high and it sold for 30k over, she had 26 offers over a couple of day. Even crazier a home near us, listed and entered escrow within 3 days and sold for 180k over asking.

We planned to buy a vacation home in the desert this year. We are going to just sit tight and wait for now. Last time the market was moving this fast in our area was 2007. While I understand a lot of things are different than 2007 I still am not comfortable in making a purchase right now.

It sort of breaks my heart that some of the sweet younger couples never had a chance in this cash talks game.

That's exactly where my son & DIL are - they don't have a prayer of competing with over asking, cash and waiving inspections (which I personally think is insane but no one asked me!) on the Olympic Peninsula. We've helped them stretch their budget and another family member has as well and they have what used to be a nice down payment saved on their own. But these are crazy times.

Congratulations and here's to smooth sailing on the remainder of the process.

I so agree with you Jill, I wouldn’t buy a house right now either. Prices are going up too fast. In a few months or so we might begin to see the start of a dip from those who have struggled financially this past year with their mortgage. It won’t make a difference at first, but then....

We listed our house and accepted an offer from the second people to view house. It will be a fairly quick close. We just want to be done. Happy with the price we got. Was a reasonable price so did not want to drag it out. We gave up on finding a different house much nearer to our kids. We decided to rent instead. Signed a 1 year lease. Will make a decision at that time whether we will continue to rent or not. Maybe we'll be snowbirds (half the year up north and several months down south or west)

DLM, I had a few couples like your son. Young love just pull at my heartstrings.

Oh, another muse on a realtor. A realtor who is very well known for working this area came to the open house to film for an out of state client. Around that time a sweet older couple came in who were dressed extremely casual. I greeted them and we had a chat. Come to find out they were original true born Floridians who had just sold one of their properties. As I left their side the well known realtor said, a little loudly, you really need to watch who is coming into your home. I was taken aback because I personally know similar individuals who have more money than she could dream of, they had bought land way back when. I know one ole Floridian who worked as a handyman and bought properties near commercial zoned areas many years ago. He is worth a fortune but you would never know it. It always amazes me how simple those who think they know it all are.

Congratulations! It's crazy here in north Alabama here too. I hope you find a place you fall in love with, or at least a place to land while you look.

The market is INSANE all over. Son and Daughter both looking. One in Mpls. one is Fargo. You offer 30-50K over, wave the inspection and they keep getting turned down. A niece sold after only being in her new home a year. Is up 60K but cannot win a bid in her new location. Rent is also skyrocketing. Building prices are insane. There appears to be no solution that financially makes sense. sigh. I hope my two decide to get out of the race. Over paying what is required right now will only lead to major financial disaster in the long run.

Ridiculous all the way up here in have not Nova Scotia as well. We have a lot of buyers from the bigger provinces moving in. All houses in my city now have an offer date a few days after listing with instruction to “bring your best offer. ” if I didn’t have a little kid and a big dog to accommodate I’d be selling and moving into an apartment - something two of my coworkers (in a department of 15) have just done.

DS sold last week and they moved into an apartment. He wanted to remodel but could not since his DW allergies are so bad. Plus it was going to be a huge remodel, so they couldn't live during anyway Made sense to sell while prices are insane and decide what to do when the lease is near its end. He was fully booked for showings Day 1 with multiple offers Sunday Open House slammed. Got 50K over asking, all cash, no inspection.

Our FL agent said he could sell the house we bought there in March for 300-400K more now. This size newer home a block from the beach in the area currently non-existent.

We have been looking for my sister a condo near us. Ended up making an offer on a house a few minutes from ours without seeing in person. Jumped on it Day 1. While not contingent on inspection, she is having it inspected. After the offer was accepted, our agent did a FT tour with us. The owners just moved out and started renting. So she won't even get to live there until early August. It's in a nice gated community with less than 200 houses. South of 30A. Great pool so she can socialize, beautiful grounds and great beach access. I would never have thought we/she would buy sight unseen. Hoping we can get her down there FT within a year.

The one house 🏡 in Florida that has sold under asking price...Derek Jeter’s Tampa house is under contract for 22.5 Million. Asking price was $29 M.

Maddielee, that little house sale is funny! Where I live you can buy “take it with you“ studio apartments for $350,000.

All across America dogs are becoming homeless.

Things are crazy here, too. My sister is a realtor and said it it suppose to last about 18 more months. WHEW! Lots of out-of-staters. I know we have put contracts out on about 5 houses and not won any. The business we are in, you don't want to pay top dollar. We did sell a new construction house for quite a bit over top dollar in the beginning go all this, and we went with a young couple (who wrote a very nice letter) with small kids, because it is a great neighborhood and schools. But, it sure makes you feel bad for the others that didn't get it. We have been looking at land to develop housing and it is almost as bad, but we found 50 acres from a friend of a friend we are in the process of buying right now, who didn't put it on the market, thank goodness!!

My daughter is facing this housing situation now. She is relocating after a divorce to be closer to family and start a new job. In the last three weeks I have watched the price of most houses be listed at close to a million and more. One small house she bid sold for over a million at $230,000 more than asking. I heard one house had over 40 offers. It has reached the point that houses are way over priced and I think the market will slow down as people decide to sit it out as they are out priced or fear paying more than value.

The rental market is seeing much the same competition. She would like to be settled by the time school begins in her own house but willing to rent, a necessary alternative. Timing is everything and being able to assess where an affordable house in a good school cluster will come up and meanwhile be able to rent in that area is the juggling act.

She has a home with me or her sister until she gets something. The kids can attend any school in the county providing their own transportation regardless where they are living if they are in transitional housing. I suppose my house would be transitional housing. But making a commitment to a school and hoping for a house in that area is a crap shoot or leap of faith.

I am hoping for the best and just want her to get here safely.

Congratulations Just Terrilynn. It is absolutely bananas here. We would like to move to the Hill Country, so we are thinking of selling now to take advantage of the market in Austin and then buy something once it cools down (which it hopefully will).