Six weeks of stock market gains wiped out in two days? What does that do to your home buying decision-making process? Will that sell-off end the “year of the over-ask offer” in the housing market, or send more paperwealth into the tangible assets, like luxury homes and condos?
My guess is that this blog post could represent the turning point, how about you?
This Cambridge Home Received an Over-Ask Offer for the Ages
http://bit.ly/OverAsk (Share this tiny URL via social media)
EXCERPT FROM COMMENTS:
Thank you BBTN. Did you attend the Zillow Summit today in Boston? Their lead economist forecast price appreciation in Metro Boston in 2014 at a mere 0.9%. Inflation-adjusted, doesn’t that mean the value of homes will drop next year? Some buyers in Cambridge and parts of the City of Boston could outpace inflation, as Zillow forecasts higher appreciation in those locations. Does it make sense to cool off the “year of the over-ask” hype before 2014 turns into the year of the bidding war backlash?
Will Zillow’s conservative forecast for home price appreciation in 2014 prevent more buyers from being pulled underwater by the bidding war undertow? How does it change your home buying plans or bidding strategy?
Contact us if you’d like to know more about “Defensive Homebuying” strategies, or our “Bubble Hours,” informal discussion offline with homebuyers. Been on the short-end of a bidding war, we’ve got ideas about how to beat them and are eager to channel “bidding war backlash.”