Lilias
Ope
- Joined
- Oct 1, 2019
We moved in late 2018 (I think the housing market started getting crazy late 2019/early 2020?) and got a crazy deal on our house because it had been on the market for over a year. It's a big house that was out of our price range, but they were desperate to sell it (the land it's on is kind of hazardous to children, but we're dinks, so didn't matter to us lol). We already paid much less than the appraisal, and now the zestimate (I know it's not that accurate, but it's fun to look) is like 100k over that! Our neighbors aren't the greatest, but we just deal with it because there's no way we'd be able to get another house right now. Or...ever? I feel like the market's been nuts like this for 2-3 years now with no signs of stopping. I have no idea how people are just...affording this. Or getting bank approvals with such a discrepancy in appraisal value (though, after what I went through selling my first house, I think that whole system might be full of lies anyway...)
One of our friends searched for a house for a year and settled for a fixer upper that would've been like 150k four years ago and they paid 270! And another friend managed to get a house no problem in 2020, it was a nice house but it didn't have a garage, so I guess there wasn't a bidding war on it for that reason? They had been so discouraged because they couldn't afford to pay twice what a house was worth (which was happening with other houses they'd put offers on), but they happened to be the first offer on their now-house and the sellers must not have known about the market because they accepted it when it was just like $1000 over asking, lol.
One of our friends searched for a house for a year and settled for a fixer upper that would've been like 150k four years ago and they paid 270! And another friend managed to get a house no problem in 2020, it was a nice house but it didn't have a garage, so I guess there wasn't a bidding war on it for that reason? They had been so discouraged because they couldn't afford to pay twice what a house was worth (which was happening with other houses they'd put offers on), but they happened to be the first offer on their now-house and the sellers must not have known about the market because they accepted it when it was just like $1000 over asking, lol.