The Money Mustache Community

Learning, Sharing, and Teaching => Real Estate and Landlording => Topic started by: pmac on July 08, 2019, 03:29:21 PM

Title: No contingencies, no problem: How to land a home in a tough housing market
Post by: pmac on July 08, 2019, 03:29:21 PM

Seems like maybe the housing market is a bit overheated after reading this article.

https://www.usatoday.com/story/money/2019/07/08/homes-sale-buying-house-tough-market/1655240001/ (https://www.usatoday.com/story/money/2019/07/08/homes-sale-buying-house-tough-market/1655240001/)

Quote

Almost a year into house-hunting, Leff has learned some hard lessons on being a buyer in what still remains a seller’s market. Act fast. Bid more – much more – than the asking price. Remove all contingencies. Prepare to lose to all-cash buyers. Do it again and again.

Title: Re: No contingencies, no problem: How to land a home in a tough housing market
Post by: Lmoot on July 08, 2019, 08:17:32 PM

My feeling is, don't run into a house when it's on fire. Usually there is a cool down after the frenzy, so I'm going to continue to focus on saving the down payment, and watching for on-the-ground-deals, in the meantime.

Title: Re: No contingencies, no problem: How to land a home in a tough housing market
Post by: rothwem on July 16, 2019, 07:40:57 AM

It seems like the things mentioned in this article would be signs to me that I shouldn't be buying.