Paying $120k over Asking price?
Maybe I'm not used to the game, but it appears even the "cheap" real estate in my city is going apesh!t. Apparently if the house is up for $300k asking, if your offer is lower than $400k, you have no chance as there is so much competition. I've had 2 houses on my block sell in a matter of days. Here's an article on this:
https://www.cbc.ca/news/canada/windsor/ ... -1.5987417
I know the GTA and Vancouver area has always been nuts, but I guess other areas are catching up.
If I sold my house in the attempt to relocate somewhere else, where does $450k buying power stretch the most? Maybe I should hold off until I'm a Millionaire and go buy some fixer uppers in Nova Scotia for rental units? Just thinking out loud, but I was surprised by the news today. A woman was complaining she makes good money in Health Care and moved here, but keeps getting overbid on a house.
So is this bidding way over asking normal in other areas or is it new?
https://www.cbc.ca/news/canada/windsor/ ... -1.5987417
I know the GTA and Vancouver area has always been nuts, but I guess other areas are catching up.
If I sold my house in the attempt to relocate somewhere else, where does $450k buying power stretch the most? Maybe I should hold off until I'm a Millionaire and go buy some fixer uppers in Nova Scotia for rental units? Just thinking out loud, but I was surprised by the news today. A woman was complaining she makes good money in Health Care and moved here, but keeps getting overbid on a house.
So is this bidding way over asking normal in other areas or is it new?
Last edited by Gibsons on Apr 14th, 2021 11:43 pm, edited 1 time in total.