Markem618 writes:
On Mon, 3 May 2021 18:10:26 -0500, Leon lcb11211@swbelldotnet wrote:

On 5/2/2021 2:43 PM, DerbyDad03 wrote:
What a crazy housing market this is! My #1 son and his GF just
found out that their offer has been accepted.

Here is how houses are being bought these days…

First, I should note that the submission period for offers was the 48
hours after the house hit the market. This was one of those listings
where all offers would be reviewed at the same time and the sellers
would choose the one that they liked the best.

[snip]


If the house appraises at the $410K level, they will end up paying $55K
(15%) over the listing price. Holy crap!




Not a good idea to buy a home for the time being. Prices are going
crazy and for no good reason. It is a fluke.

Seems to be an urban phenomenon, we are rural area near a university.

Ames Iowa is pretty rural, near a university, and you can't find much
for less than $200k, and modern family-sized homes run $300 to $1M.

Even condo's are going for $300k.

https://www.realtor.com/realestatean...search/Ames_IA