Are you looking for proof that there are buyers being very patient, and are waiting in the wings until they see the perfect fit?
Consider this one, which I heard reports of receiving 18, 19 or 20 offers. It was listed for $888,000, and closed for $1,000,000, or 13% over list price:
It had the popular hot tickets – full remodel with the white/gray modern look, natural light via skylights, one-story, and garage granny flat (permits unknown).
Where are people getting this money? 200k annual puts you at the 1% of W2 Wage earners, with 20% down thats still a 5k a month note.
I don’t get it.
Buyer used a VA loan, with some down payment.
Wow, is $715 / sf normal? Lots of houses sell for 1mn, but that seems a mighty high premium for a tiny house close to gritty Santa Fe drive. At least you’re freeway close and walking distance to 7-11 a Carls Jr and laundromat?
Walkable! Get a couple of 40s while doing your laundry – now that’s convenience!
The house was 1,000sf and garage/flat was 400sf.
Unisex urinal! Now that’s cool.
40 years ago this was nowhere near the beach. Now it is and it isn’t sea level rise. It is revised lower expectations.