The bidding wars are intensely competitive, and without laws or regulations – anything goes! It is pretty impressive how many buyers are hanging in the fight, and willing to bid higher than list-price. Nobody likes it, but the multiple frustrations along the way make people want to just get it over with!
Klinge Realty Group
Are you looking for an experienced agent to help you buy or sell a home?
Contact Jim the Realtor!
- 682 S. Coast Hwy 101, Suite #110
Encinitas, CA 92024
- (858) 997-3801 call or text
CA DRE #01527365, CA DRE #00873197
In Jan 2021, the 30-yr mortgage rate was 2.65% and average new home price in the US was $401,700.
Today the 30-yr mortgage rate is 5.30% and average new home price is $523,900.
Assuming a 20% down payment, that's an 80% increase in the monthly payment (from $1,294 to $2,327). https://twitter.com/charliebilello/status/1524755634843004930
The 30-year mortgage rate in the US rises to 5.30%, its highest level since 2009 and double the all-time low of 2.65% from last year.
New post (Veranda) has been published on http://bubbleinfo.com - https://www.bubbleinfo.com/2022/05/15/veranda/
New post (The Slow Unwind - Price Reductions) has been published on http://bubbleinfo.com - https://www.bubbleinfo.com/2022/05/13/the-slow-unwind-price-reductions/