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"Flash home sales" -Houston is #3 in the nation, Dallas & Austin are right behind it-

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  • #1

    "Flash home sales" -Houston is #3 in the nation, Dallas & Austin are right behind it-

    If any of you are in the market for a home, and this is probably happening more in the sub $300K price point than any other part of the spectrum, prepare for a wild ride.

    For my most recent client, we would show up at a house within 30 minutes of it hitting the market, and there would be a line of realtors/clients outside of the home by the time we were done inside. Sometimes we were in the line. Every one was a multiple offer situation, and unless you're willing to offer 10%-20% over list, take your ball & go home. It's a rough position to be in as a realtor, telling your client that not only will there not be any sweet deals happening today, you're going to pay a premium if you want to get this house.


    RECON
    Real Estate Center Online News
    March 19, 2013

    HOUSTON'S 'FLASH SALES' SURGE
    HOUSTON (Houston Chronicle) – More area homes are selling in less than a day, thanks to low home inventory and a strong local economy.
    According to a report from Redfin, Houston is third in the nation for "flash sales" — that is, homes selling in less than 24 hours. During the past five months, 188 homes have sold within a day.
    Phoenix and Chicago took the top spots on Redfin’s ranking. Dallas and Austin trailed just behind Houston.

    CNBC Story

    The raw number of homes for sale is now at its lowest level in over 13 years, according to the National Association of Realtors, and the numbers continue to fall, CNBC reported.

    "Every good property I've listed this year has brought 10 to 50 offers and sales prices 10% to 20% over comps," said David Fogg, a real estate agent in Burbank, CA.
    Ronald Reagan:"Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it."

    Homer: "Bart...there's 2 things I know about women. Never give them nicknames like "jumbo" or "boxcar" and always keep receipts...it makes you look like a business man."
    Tags: tali likes rear entry
  • #2
    not surprising. It is getting real competitive as a home buyer.

    We made a bid on our house the first day it was on the market.

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    • #3
      Yup same way out here with anything decent under 250k, I actually have a friend who listed his house for 7k more then the realtor suggested and sold it to the first person who walked through the door.

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      • #4
        A lot of investors are buying everything, over paying for it, and holding it.

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        • #5
          my idea of buying a piece of land out in the country instead of a house in dallas is looking better and better each day. i plan on keeping my cheap little apt but having some space of my own to go chill on the weekends, ride dirtbikes, etc.

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          • #6
            I believe it. Our realtor said homes in the areas we're looking are on market a matter of days and are getting 95-100% of their list price.
            Originally posted by davbrucas
            I want to like Slow99 since people I know say he's a good guy, but just about everything he posts is condescending and passive aggressive.

            Most people I talk to have nothing but good things to say about you, but you sure come across as a condescending prick. Do you have an inferiority complex you've attempted to overcome through overachievement? Or were you fondled as a child?

            You and slow99 should date. You both have passive aggressiveness down pat.

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            • #7
              Got one finallu and bid list was reallu suprised shotgun bid

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              • #8
                Originally posted by slow99 View Post
                I believe it. Our realtor said homes in the areas we're looking are on market a matter of days and are getting 95-100% of their list price.
                That's pretty crazy, especially considering the buy-in price. But it is backed up by a small supply.

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                • #9
                  Originally posted by slow99 View Post
                  I believe it. Our realtor said homes in the areas we're looking are on market a matter of days and are getting 95-100% of their list price.
                  That.

                  And the houses that are left are mostly undesirable or have a major issue that has to be addressed, but are still listed at market value.

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                  • #10
                    Sounds good considering I'm selling this year, but sucks that I also have to buy as well and take the hit.

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                    • #11
                      Originally posted by Sean88gt View Post
                      That's pretty crazy, especially considering the buy-in price. But it is backed up by a small supply.
                      Yep, they're going quickly in the $350 - $400k range, too. You're right - the inventory is very low right now; we're waiting to see what happens later this spring and into summer.
                      Last edited by slow99; 03-20-2013, 10:48 AM.
                      Originally posted by davbrucas
                      I want to like Slow99 since people I know say he's a good guy, but just about everything he posts is condescending and passive aggressive.

                      Most people I talk to have nothing but good things to say about you, but you sure come across as a condescending prick. Do you have an inferiority complex you've attempted to overcome through overachievement? Or were you fondled as a child?

                      You and slow99 should date. You both have passive aggressiveness down pat.

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                      • #12
                        Bought at 68k can sell after year neighborhood 110k needs new ac

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                        • #13
                          ^wat

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                          • #14
                            Originally posted by grove rat View Post
                            ^wat
                            dfgfdhfyhjkiuyiuvdfsfttrbnvvc
                            Originally posted by BradM
                            But, just like condoms and women's rights, I don't believe in them.
                            Originally posted by Leah
                            In other news: Brent's meat melts in your mouth.

                            Comment

                            • #15
                              Originally posted by slow99 View Post
                              Yep, they're going quickly in our range too ($350 - $400k). You're right - the inventory is very low right now; we're waiting to see what happens later this spring and into summer.
                              Stop bragging about what you're gonna buy and post up your W2 baby dick!!11!1!1

                              My next house will barely top 200 good to hear I may be able to sell my current house for more as well.

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