Yikes. Walked into an open house on Sunday in my suburban San Francisco Bay Area neighborhood. The place was immaculate -- beautiful new expanded kitchen area, nice carpeting, a new redwood deck, impeccable landscaping, fresh paint, a new fence, large corner lot, spacious storage shed. The only other person we saw in there was the desperate Realtor (didn't have the guts to tell her we just bought a place last year). The house has lingered on the market for months already, even after a price reduction and numerous enhancements. Just about a year ago the place probably would have had multiple bids before the homeowner could whisper "sell." Oh the times, they are a-changin'.Meanwhile, Property Grunt follows up to note that not only are buyers fewer in number, they're--how do you say?--less tolerant. He writes, "At one open house a pair buyers whispered audibly how an apartment I was showing was crap...As far as buyers are concerned this seller's market is so OVAH!"
· That Sinking Feeling [Inman Blog]
· Report from the Open House Front [Property Grunt]
· Open House Drought Reports: UWS Chills; Brooklyn Crazed [Curbed]