I don’t think houses were flying that fast even during the bubble here…were they?? I will be really curious to see what this house sold at relative to the asking price.
The same realtor sold this house in my development earlier this year. From the time he listed it to the time he got an offer was only 5 DAYS.
ER, this is not surprising to me at all. We’ve been shopping for the past year or so, and since around late December, good properties have been flying off the market. Two that we offered on saw 7+ offers in the first 48-hours after listing. Both were pending in days without spanning a weekend on the market.
Most decent properties that list on Thursday or Friday are pending by the following Wednesday at the latest. We’re often told offers are being reviewed Sunday or Monday evening. If you tour a recent listing on a Sunday, you might have only until nightfall to get your offer in for consideration.
Lately, if something lasts longer than 7 days, it’s either grossly overpriced, or there’s something seriously wrong with it (though as Jim the Realtor would say, nothing price can’t fix).[/quote]
Oh yeah..I have spoken to others that have been actively looking and they are running into the SAME thing as you Cube.
I agree with the other poster that said however that the word “bubble” is overused. At least this go around it’s not like the true “bubble” years when anyone with a heartbeat could get a no-doc loan.
I can’t say this time around if we’re in a bubble or not as there is so many cash buyers and most buying have steady jobs and higher FICO scores. At least it’s a much healthier situation vs. the last go around.
However, the speed at which the recovery is happening is very surprising. I’m just glad I bought back in 2011. I figured that had to be close to a bottom. And I was a big bear on real estate but it just got to be really compelling how cheap it was back then.
I’ve mentioned on a few message boards that I post on that I was confident that prices in desirable parts of San Diego would surpass peak prices. I just didn’t think it would happen for a decade or so.
I made a few offers last year on properties and even at the start of this year but I wasn’t going to chase the market up. Now, I am just stepping back and seeing how this plays out.
