aquabliss
Well-known member
Are people really still putting offers on $1M+ homes right now with the economic outcome and impact to the housing market being so uncertain?! The answer is, yes! I find it hard to believe that wealthy buyers wouldn't wait this out a couple months until the forced selling and/or foreclosures start hitting with middle and upper/middle class owners losing their high paying jobs and thousands of candidates applying to every 1 opening.
Here's some examples of listings that have gone from active to "pending" in the last few days. I guess we can follow these to determine what the closing price ends up to be and if the buyer did a COVID lowball and the seller excepted the offer in a panic.
Who else feels like they should sell their house now and buy it back in 3 months for 30% off?
Some examples:https://www.redfin.com/CA/Irvine/19-Commonwealth-92618/home/5810858
$1.52M ask, went pending yesterday, Mar19
https://www.redfin.com/CA/Irvine/378-Floral-Vw-92618/home/171025932
$1.03M ask, went contingent yesterday, Mar19
https://www.redfin.com/CA/Irvine/10-Purple-Sage-92603/home/4744892
$1.47M ask, went contingent Monday, Mar 16
There are many others, but not quite sure how to sort by the date that a property went contingent or pending and don't want to sort through all 200+.
I know in any market there's always buyers and always sellers, just seems like the smart money would be on the sidelines for the next few months. I certainly don't see home prices spiking as a result of this epidemic.
Here's some examples of listings that have gone from active to "pending" in the last few days. I guess we can follow these to determine what the closing price ends up to be and if the buyer did a COVID lowball and the seller excepted the offer in a panic.
Who else feels like they should sell their house now and buy it back in 3 months for 30% off?
Some examples:https://www.redfin.com/CA/Irvine/19-Commonwealth-92618/home/5810858
$1.52M ask, went pending yesterday, Mar19
https://www.redfin.com/CA/Irvine/378-Floral-Vw-92618/home/171025932
$1.03M ask, went contingent yesterday, Mar19
https://www.redfin.com/CA/Irvine/10-Purple-Sage-92603/home/4744892
$1.47M ask, went contingent Monday, Mar 16
There are many others, but not quite sure how to sort by the date that a property went contingent or pending and don't want to sort through all 200+.
I know in any market there's always buyers and always sellers, just seems like the smart money would be on the sidelines for the next few months. I certainly don't see home prices spiking as a result of this epidemic.