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Everything is overpriced

Im talking “values“ up 50-100% since Covid in my neighborhood. I’ve toured a few where everything is still original from when the houses were built in 1992 (like original jetted tubs and builder grade bathrooms, 8-10 year old kitchens and roofs). All are asking over $800K when they sold in 2015 for $3-400K.

I just sold a house where we had remodeled every major room (kitchen, baths, floors, roof, HVAC) and felt justified in our markup. But it’s crazy now to see sellers asking for that markup for just a few basic maintenance items.

Yet most of these sellers are willing to just sit and wait it out until they find a desperate buyer. Several have sat on/off market for close to a year. I’m frustrated (and jealous). I’d like to upgrade my home but I can’t justify these values.

submitted by /u/Technical_Quiet_5687
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1sptgh5/everything_is_overpriced/
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