Quote:
Originally Posted by Taz
With the recent hot real estate market, I'm thinking there is a rude awakening on the horizon. Hearing several stories about offers several thousand over asking without home inspections. When the market corrects, and it will, it always does, there maybe alot of people underwater owing more than the property is worth. I would never buy in a market like this. Best to wait. I think there is alot of people over paying.
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I don’t think so. My new neighbor paid 50k over asking so as not to lose another house (he lost the last two). All cash, all these deals are. If you can write a check for 650-ish plus closing costs you won’t be upside down anytime soon. Like a realtor recently told me - if you’re not paying cash today go find another realtor.
But you are 100% correct, absolutely everyone is overpaying.