I have been keeping an eye on the real estate section of our local newspaper for a while now. Driving around on the weekends to look at open houses. Browse the real estate web sites to gather more info on listings of distant cities. I can safely say I can feel the pulse of the local RE market.
Why the exercise? Bargain hunting for real estate investment.
Just last weekend, I saw a new listing on the newspaper for a house in Pasadena, listed for $890,000. 2 bedrooms, 2 baths at around 1500 sq ft., lot size of around 9000 sq ft. I drove by and found it quite a pleasant home, well-managed and in a nice neighborhood.
I immediately called my RE agent, asked her to arrange a visit and getting ready to offer $790,000. The whole evening I was worried that maybe the offer was too high. The real estate market is supposed to have fallen, right?
This morning my RE agent left a message on my cell and said that the house has received 12 offers, some of which are above the asking price, do I still want to see the house?
What???
If you can spare the time, yes. Great start to shop and compare. Quite skeptical about the 12 offers though... hey but that's just moi ! : P
ReplyDeleteWow. Unbelievabe. But mortgage rate is low, right?
ReplyDeleteWe have sale above asking price for an old house in the area we live...multi offer, sold in days. Am I the only poor man on Earth. I need to move to another planet.
Does anyone know if it is good fung shui for a house to be in the middle of a cul-de-sac with the road going into the driveway?
ReplyDeleteCul-de-sac is not road to go (no outlet). Any house in a cul-de-sac is usually not good, especially with the road directing towards the house. No good.
ReplyDelete