So to date, we have put out 6 offers on 5 homes. We started house hunting on April 25, 2004.
Offer #1: 2bd / 1ba home with remodeled kitchen, center patio, 1 room & bath down, large lot, 2 blocks from the beach; sold for $132k over the asking price!
Offer #2: 2bd / 1 ba home with remodeled kitchen, wine storage, 1 room & bath down, 1 block from the beach; listed at $599k, our offer was ranked as the 4th highest offer.
Offer #3 & 6: Cute 2 bd / 1 ba home, with 1920s detailing, GORGEOUS yard, room & bath down, listed at $629k…they rejected our preemptive offer. We resubmitted as they had only handed out 6 disclosures. Offered backup status if we offered $740k. Non, merci.
Offer #4: 2 bd /1 ba home, french doors leading to terraced garden, 2nd bedroom, not really a bedroom, a bit smaller than the others, but nice locale, listed at $599k…we weren’t even a front runner.
Offer #5: 2 bd / 1 bath home with dine-in kitchen, 2 rooms and bath down, garden with a small cottage, listed at $565k. Offered backup status.
Though the interest rates are climbing up, there still is a great demand for homes. So, according to the rules of supply & demand – I don’t think that the housing prices will fall. Hopefully though, there will be less competition out there…