Speaking of housing prices, I've been watching the house that recently sold here. The one that was listed for $870K and had two offers at $950K, once of which was accepted.
This house was one of the nicer houses in the neighborhood. About 1800sf, pretty well renovated and modern in the interior. Solar on the roof, pool in the backyard. I would have called it much more "move-in ready" than ANYTHING else in this neighborhood, which I thought might explain some of the bidding war that occurred on it.
New owners haven't moved in yet. Doing TONS of work on the house, especially in the backyard (as far as I can see from the street anyway).
I don't get it.
I thought the rule was to buy the sh!ttiest house in the most expensive neighborhood, not to buy the most expensive house in the sh!ttiest neighborhood and then throw even MORE money into it.
Seems dumb.