Maybe it's about time for those sellers to realize their homes aren't worth 400k+ and that the infinite money glitch is over.

58 minutes ago, Mike030270 said:

My opinion is anecdotal but…. I find this a bit hard to believe. We (ok, schmoopie) are seeing a ton of buyers but there is NO inventory. No one is looking to sell because rates are significantly higher than they were for quite some time.

That being said…. I don’t dispute the insane increases in home values is keeping people out of the market. But we are seeing insanely low inventory out there (which is also driving prices up) because there is no incentive to sell.

For a pure anecdotal example I can give that is just a year apart: Last year schmoopie had a listing for a 1.4 million dollar property that was a custom build on a golf course. We held an open house, got maybe 5 people* that weren’t friends or family. It took 2 months to get under contract.

This past weekend we hosted an open house on Saturday for a 1.5 million dollar property on the same street. Cars were lined up from start to finish and even a full hour and a half after. Plus she had 4 private showings the same day. And Sunday 6 more, today 3 more and a few more tomorrow.

She also has a younger couple as clients looking to buy. Their range is more modest, top end of their budget tops out at 600 and are well qualified. We have been working with them since late Jan and still don’t have them under contract. Their current home it took under a week.

*Ill have to double check with her for accuracy

On 4/12/2026 at 1:30 PM, Mike030270 said:

He punted on affordability ages ago. Hence betting the house on major foreign accomplishments and pretending that day the Dow hit 50K was some kind of golden era.

13 hours ago, Paul852 said:

Maybe it's about time for those sellers to realize their homes aren't worth 400k+ and that the infinite money glitch is over.

house across the street went up for sale at $740k, four months later it just sold for $680k.

31 minutes ago, Alpha_TATEr said:

house across the street went up for sale at $740k, four months later it just sold for $680k.

I mean, at least it seems like negotiating DOWN will start becoming an option again The last five years if you weren't offering $50k+ over asking price then you already lost.

1 hour ago, Alpha_TATEr said:

house across the street went up for sale at $740k, four months later it just sold for $680k.

I have my eye on the real estate in a specific small town along the North Carolina coast looking for a 2nd home. The prices went up ridiculously during COVID and have pretty much been stable for a couple of years now. Half the town are 2nd homes for people from further north. Over the last six months the prices have started to come down. Maybe only 5% so far but I expect the price drop to continue.

49 minutes ago, DrPhilly said:

I have my eye on the real estate in a specific small town along the North Carolina coast looking for a 2nd home. The prices went up ridiculously during COVID and have pretty much been stable for a couple of years now. Half the town are 2nd homes for people from further north. Over the last six months the prices have started to come down. Maybe only 5% so far but I expect the price drop to continue.

the guy selling across the street needed to sell quick, so i am sure that helped with the big drop. still though, it's definitely turned into a buyers' market.

2 minutes ago, Alpha_TATEr said:

the guy selling across the street needed to sell quick, so i am sure that helped with the big drop. still though, it's definitely turned into a buyers' market.

Definitely a change. I'm seeing homes sit on the market for a few months in that town which never happened until now. Most people that own there don't have to sell but slowly but surely there will need to be some turnover. Some of them will no longer be able to use the 2nd home and some will be part of estates, etc.

1 hour ago, DrPhilly said:

I have my eye on the real estate in a specific small town along the North Carolina coast looking for a 2nd home. The prices went up ridiculously during COVID and have pretty much been stable for a couple of years now. Half the town are 2nd homes for people from further north. Over the last six months the prices have started to come down. Maybe only 5% so far but I expect the price drop to continue.

If only you had been in the market a few years ago ;) Make sure you get really good insurance

2 minutes ago, Gannan said:

If only you had been in the market a few years ago ;) Make sure you get really good insurance

Yeah well maybe the town won’t exist in 40 years. I’ll be long gone by then.

3 hours ago, Alpha_TATEr said:

house across the street went up for sale at $740k, four months later it just sold for $680k.

Sounds like someone didn't do their comps correctly OR it didn't appraise. Likely the former.

Just now, paco said:

Sounds like someone didn't do their comps correctly OR it didn't appraise. Likely the former.

well, the homeowner is an alcoholic so ....

1 hour ago, Alpha_TATEr said:

the guy selling across the street needed to sell quick, so i am sure that helped with the big drop. still though, it's definitely turned into a buyers' market.

Housing markets are very local, but at least in southern Chester county this couldn't be further from the truth IMO. Like I said last night, there is no inventory here and buyers have next to no leverage.

1 minute ago, Alpha_TATEr said:

well, the homeowner is an alcoholic so ....

... he must have got drunk with his agent?

Or either his agent didn't have the stones to tell them they were priced too high or he didn't listen.

2 minutes ago, paco said:

Housing markets are very local, but at least in southern Chester county this couldn't be further from the truth IMO. Like I said last night, there is no inventory here and buyers have next to no leverage.

I mean, yeah, Chester County is probably always going to be sought after.

1 minute ago, paco said:

... he must have got drunk with his agent?

Or either his agent didn't have the stones to tell them they were priced too high or he didn't listen.

i just think he wouldn't listen and listed the house too high to begin with.

3 minutes ago, Alpha_TATEr said:

i just think he wouldn't listen and listed the house too high to begin with.

Last spring we were at a graduation party and we overheard a conversation with the host and his neighbor were having. The guy was on the market for 8 or 9 months now and the host was busting his stones about how it was listed way too high.

"I don't care, I'm going to get the price I want or I'm not selling"

Fast forward to early August and he reached out to schmoopie to take over the listing. He was basing his opinion that his stucco house, which is not on the golf course should be priced 400-500k less than an all-brick house across the street which was on the 10th hole. Apparently his old agent did the bare minimum, took his asking price, threw it on the MLS and called it a day. And when I say he did the bare minimum, he did the MINIMUM. Didn't even bring signs for an open house.

Schmoopie takes over, adjusts the price, throws golf themed open houses with drinks and Hors d'oeuvres, creates video content and boosts them in facebook ads, etc etc etc and sure enough she got them under contract in just a hair over 2 weeks.

TL:DR: Some people are stubborn and some agents are terrible. Combine the two and you aint selling

2 hours ago, Alpha_TATEr said:

the guy selling across the street needed to sell quick, so i am sure that helped with the big drop. still though, it's definitely turned into a buyers' market.

Don't know that I'd say it's turned into a buyers' market. It's definitely slowed down, which was needed, but I don't think we're in buyers market territory yet. Prices are still inflated, especially when taken into consideration with what the interest rates currently are.

We bought our home in the fall of 2020. We have a 2.75% interest rate. A home in our development just sold yesterday. It's 3/4 the size of our home without a finished basement (ours had a finished basement), and it sold for 45% more than what our house went for, and they probably have what a 6% interest rate?

I don't think it will be a buyers market until prices come down to a more reasonable level (what they would be had prices had reasonable increases over the last 5 years).

8 minutes ago, Phillyterp85 said:

Don't know that I'd say it's turned into a buyers' market. It's definitely slowed down, which was needed, but I don't think we're in buyers market territory yet. Prices are still inflated, especially when taken into consideration with what the interest rates currently are.

We bought our home in the fall of 2020. We have a 2.75% interest rate. A home in our development just sold yesterday. It's 3/4 the size of our home without a finished basement (ours had a finished basement), and it sold for 45% more than what our house went for, and they probably have what a 6% interest rate?

I don't think it will be a buyers market until prices come down to a more reasonable level (what they would be had prices had reasonable increases over the last 5 years).

buyers' market may be a little strong, but it's certainly not the sellers' market that it was.

believe me, i hope the market stays on the seller's side considering we want to put our house up for sale soon.

I've rented the same place since 1986. Landlord is 75 and wants to sell or turn it over to his kids. It's been on the market for 6 months and he just won't budge on the price. Over 1.6mil. 2.5 acres and 10 units. I really hope I don't have to move before I die.

1 hour ago, DiPros said:

I've rented the same place since 1986. Landlord is 75 and wants to sell or turn it over to his kids. It's been on the market for 6 months and he just won't budge on the price. Over 1.6mil. 2.5 acres and 10 units. I really hope I don't have to move before I die.

My landlord bought the building I'm living in just before everything exploded so I got lucky he got it at a reasonable price and didn't raise my rent to much. Went from 550 to 700. That was in 2021 and it's stayed the same, I'm hoping it stays that way another year or 2.

21 hours ago, Mike030270 said:

in the northeast it's still a seller's market, but in a lot of other regions it's flipped.

I do find that a bit interesting given that a lot of college-bound high school students are specifically seeking southern climates when looking at schools.

1 hour ago, JohnSnowsHair said:

in the northeast it's still a seller's market, but in a lot of other regions it's flipped.

I do find that a bit interesting given that a lot of college-bound high school students are specifically seeking southern climates when looking at schools.

I thought i read recently that a lot of kids are also choosing to go to school near home the last few years? I may be mis-remembering that though