Suburban Sacramento Home Receives 122 Offers in One Weekend, Sells in 3 Hours

dimondpark · #1 Posted **Mar 30, 2021, 6:44 PM**

Yikes...the Bay Area invasion of Sacramento is intensifying...

Quote:

Originally Posted by KRON 4

Citrus Heights home for sale receives 122 offers in one weekend, sells in 3 hours

Posted: Mar 29, 2021 / 01:34 PM PDT / Updated: Mar 29, 2021 / 01:34 PM PDT

CITRUS HEIGHTS, Calif. (KTXL) — A Citrus Heights home in a quiet cul-de-sac received 122 offers in one weekend on the market.

The 1,400 square feet home has three bedrooms, two baths and a spacious backyard with a swimming pool and an asking price of $399,900.

“People would think that it was underpriced. It was not underpriced. It was straight on with the comps,” said Deb Brittan, the listing agent for the property. “I had hoped, I thought, maybe if we get 20 offers that would be amazing.”

Interview: Explaining trends in changing real estate market
Barry and Anita Jackier are the sellers of the Citrus Heights home.

“We had this little friendly wager going. I’m like, ‘I think we’re going to get eight offers,” Anita Jackier said.

“I said 10,” Barry Jackier said.

They all underestimated the number of offers, by a lot.

They received 122 offers in one weekend.

“That’s 121 people who didn’t get a house. And that’s kind of heartbreaking in this market to think that there are so many buyers out there. And if you don’t have an agent that understands how to put a strategic offer in on a house and get it accepted, you’re just out burning your gas and a lot of emotional turmoil because of the nature of our market currently,” Brittan said...

https://www.kron4.com/news/californi...ls-in-3-hours/

Buckeye Native 001 · #2 Posted **Mar 30, 2021, 7:27 PM**

Similar happenings in Arizona as well. One of my coworkers is a part-time realtor and reported that a house in Flagstaff sold for $60k over the asking price. Apparently lots of people from California cashing out and buying for cheaper here.

SteveD · #3 Posted **Mar 30, 2021, 9:44 PM**

I've got realtor friends here in East Atlanta reporting 60, 70, 80 offers, many above asking price, for homes same day they hit the market; home values in in-town Atlanta are shooting straight up and there's a major undersupply of homes on the market for everyone trying to move here. "Coming Soon" houses, either renovations or new construction, are getting sold before they even hit the market while they are still under construction.

It's good for us; we are trying to downsize from our large Atlanta house, but, we're having problems getting reasonable estimates for what we are trying to have built on family land over in Alabama and we're trying to co-purchase a house up in the N GA mountains with one of my sisters who lives in FL and prices up there are crazy too.

The North One · #4 Posted **Mar 30, 2021, 10:03 PM**

The housing market is like this everywhere right now, at least every major city. Nothing around me has sold lately without a bidding war, it's a total frenzy.

hauntedheadnc · #5 Posted **Mar 30, 2021, 11:04 PM**

Quote:

Originally Posted by SteveD

I've got realtor friends here in East Atlanta reporting 60, 70, 80 offers, many above asking price, for homes same day they hit the market; home values in in-town Atlanta are shooting straight up and there's a major undersupply of homes on the market for everyone trying to move here. "Coming Soon" houses, either renovations or new construction, are getting sold before they even hit the market while they are still under construction.

Same here. Houses that go up for sale in the morning are often under contract by evening. We bought our place in September and got lucky to get it. At one place my husband looked at, it was on a dead-end street and there was a line of cars all the way to the road with people who had appointments to look at it. On our street, two weeks ago a house went up for sale on Saturday and was under contract by Sunday evening.

jtown,man · #6 Posted **Mar 30, 2021, 11:51 PM**

This is not happening in Chicago in any way shape or form.

Centropolis · #7 Posted **Mar 30, 2021, 11:57 PM**

my wife is an agent...this week there was a house with 50 offers in the suburbs of st. louis.

we are now preparing to put our house on the market and move into a relatives house until market crash.

BG918 · #8 Posted **Mar 31, 2021, 2:28 AM**

Quote:

Originally Posted by Centropolis

we are now preparing to put our house on the market and move into a relatives house until market crash.

Smart move

Ifactwo · #9 Posted **Mar 31, 2021, 2:35 AM**

Wow, this is interesting to read. The situation is really getting out of hand on some cities.

Shawn · #10 Posted **Mar 31, 2021, 3:46 AM**

My brother sold his Davis house two weeks ago. It was on the market for 3 days. He sold it for more than double what he paid for it in 2011.

He's now happily back in suburban Boston with his wife and daughter.

Handro · #11 Posted **Mar 31, 2021, 1:41 PM**

Quote:

Originally Posted by jtown,man

This is not happening in Chicago in any way shape or form.

What? That's a weird take. Chicago just posted it's strongest February for home sales on record. Where are you getting your info?

Camelback · #12 Posted **Mar 31, 2021, 1:56 PM**

It's wild out there right now. My mom is going to list her house this week. She will receive offers of at least 25-30% higher than she would have if it was listed last year. I checked the comps in the East Valley (enormous area housing 1.5 million people) and there was 1 comparable house on the market, and it was listed for 1 day with over 2,200 views.

SacTownAndy · #13 Posted **Mar 31, 2021, 3:37 PM**

I know several recent transplants here in Sacramento that are looking to buy, they've all said the same thing- it's virtually impossible right now unless you have an all cash offer and are willing to pay $100k+ over asking price. Fortunately I bought my place in 2015 and it's more than doubled in value since in this current market.

JManc · #14 Posted **Mar 31, 2021, 5:14 PM**

I live in suburban Houston and just checked the local
Zillow listing. Nothing on the market and the most recent sales were quite a bit higher than they were last year. At least $50k. Our values were really depressed from a hurricane a few years ago which dumped 8' of water everywhere.

SteveD · #15 Posted **Mar 31, 2021, 5:24 PM**

We bought for $351K in 2007 and it would probably get north of $700K now. I've refi'd 3 times over that time span tho so I still owe about $230K on it. I did go from 30 year to 20 year tho last time about 5 years ago so I'm at 15 years remaining on my mortgage.

Wigs · #16 Posted **Mar 31, 2021, 8:17 PM**

In suburban Toronto, North York, a well kept 3,000+sf home went on the market asking (Canadian dollars) $1.99M and sold for $2.6M.
In my area, Niagara, a 3 bedroom 1600sf home (with a pool) asked $599k and was sold for $735k.

The housing market in most of Canada is madness right now.

Atlas · #17 Posted **Mar 31, 2021, 8:22 PM**

I can confirm that the housing markets in Denver and Salt Lake City are both like this too.

Nomad9 · #18 Posted **Mar 31, 2021, 11:43 PM**

This shit is depressing as someone who’s finally in a position to buy a first home. I live in Alabama and even here the market is pretty distorted.

SteveD · #19 Posted **Apr 1, 2021, 12:45 AM**

Quote:

Originally Posted by Nomad9

This shit is depressing as someone who’s finally in a position to buy a first home. I live in Alabama and even here the market is pretty distorted.

where in Alabama? We're trying to build in Elmore County on family land. Closest anything is Wetumpka. About 1/3 of the way between Montgomery and Birmingham.

dimondpark · #20 Posted **Apr 1, 2021, 1:28 PM**

hence why so many locals are opting to move to Sac...

Quote:

Originally Posted by CBS News Bay Area

Berkeley Home Sells for $1 Million Over Asking After Getting 29 Offers
By Betty Yu
March 31, 2021 at 12:25 pm

BERKELEY (KPIX) — Bidding wars over homes in the East Bay are not unusual during the pandemic, when remote workers started to look for more space for their families. But selling a house for $1 million over asking was a first for Grubb Co. listing agent Jill Carrigan.

The mid-century home located at the end of a quiet cul-de-sac near Grizzly Peak received 29 offers in 11 days, said Carrigan...

https://sanfrancisco.cbslocal.com/20...ing-29-offers/