Yeah, it’s BRUTAL. We made a few offers on places in Carmel Valley and finally gave up. Lots of cash offers going on there. I’m not going to chase it now.
I’m really curious how much of the buying is institutional. I know the cash % buyers are very high now.
I guess I should have bought another property back in 2011. Better prices and more inventory to pick from.
It will be interesting to see how the next year or two goes but I’m not going to chase it.[/quote]
It’s just kinda scary. Back when I was looking for my SFH, $800-900k seemed to be the “house deals” that would move quickly. I didn’t expect to see stuff like this in the 1.1-1.3 range that moved this quickly.
I doubt they were institutional…Previous owner was selling his place and already bought a 2.5+million place in RSF for cash… During the showing, someone with me talked to an agent that was showing home for another client..The client was from overseas and already purchased two homes in CarmelV, one for each their two children coming here for college. They were looking for a third themselves…..And $1million is pocket change for some of these folks me thinks. .Don’t know about other offers.
The price range where homes don’t appear to be flying off the shell seem to be those 1.8+ million.
