Quote:
Originally Posted by MeredithMan
This is not really lake-related, but it is another data point on how crazy the RE market is right now. We have family friends who recently retired and they decided to sell their house, buy an RV, and tour the country. Their home is a late 1950's split-level in Framingham, MA. Listed the house for $589K. In the first weekend, they had 25, (yes, TWENTY FIVE), offers and accepted a cash offer $90K over asking price. They close in 3 weeks.
I've also heard from realtor acquaintances on the lake that many offers now contain "escalation clauses", whereby the buyer writes into the offer that they will go $___ over their offer, and it's usually 50-100K over.
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Wow. We are thinking of retiring to our house in NH. Problem is, it isn't built yet. A friend suggested we sell now and rent with the hot market. The thought of that makes me crazy. I thought our home in MA was worth $400K-ish (bank appraised it for $425K about 3 years ago I think). A 1970's Split with a new attached two car garage, in ground pool. 0.5 Acre. It has owned Solar too. About 15 miles west of Framingham. Good schools. Park and school walking distance. Maybe it's worth a lot more than I thought.