I’m in Hawaii now

[Tamaradarann]

Not the 'real world' view most of us have.

I mentioned about the friend trying to buy a house...yesterday they made an offer 11k over asking. (Which was at least 50k over assessed value) Their offer was not accepted, they think it went for another 20 or 30k. So I have a feeling you won't be waiting long for a buyer.

P.S. Asked me where your house is. (Won't work tho, she's a Veterinarian working in Madison and he travels for work, but based out of Chi-town. )

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Wow, how come Madison has become such a hot real estate market? Is it because of a great recent rise in demand or are they listing the houses below what the market says they are worth? When we bought our Condo in Honolulu we offered the asking price and it was immediately accepted. Looking at recent listings we probably could have offered 10K less and made the deal.

 

[Tamaradarann]

No, not at all. Just a bunch of stuff that I would never have thought of selling. Plus I forgot how much stuff we had. She has a lot to list yet.

I understand your surprise. We have been in our house for 42 years. I told my husband that if we do decide to move permanently to Honolulu we need 2 years to go through our stuff to see what we want to take with us, sell or discard the other stuff and get our house ready to sell. Of course that would be 2 calendar years with our not being in NY but in Honolulu in the winters from November too May! We won't do another NY winter ever!

 

[SandyPGravel]

Wow, how come Madison has become such a hot real estate market? Is it because of a great recent rise in demand or are they listing the houses below what the market says they are worth? When we bought our Condo in Honolulu we offered the asking price and it was immediately accepted. Looking at recent listings we probably could have offered 10K less and made the deal.

It is definitely a sellers market around here. Finding a house in the 200k range is next to impossible. Not a lot out there. But, it's not just starter homes. One of my neighbors listed their house for 800K and darn near got it. I haven't looked at what that house is assessed at, but I'm guessing maybe 600K. Inventory has been tight around here for a couple years now. Last year I know someone that was looking for a starter condo and paid almost 200k for something that is probably more like the 150k range. It's just nuts. (Hey Jeff, sorry for borrowing your thread for a minute.)

 

[Tamaradarann]

It is definitely a sellers market around here. Finding a house in the 200k range is next to impossible. Not a lot out there. But, it's not just starter homes. One of my neighbors listed their house for 800K and darn near got it. I haven't looked at what that house is assessed at, but I'm guessing maybe 600K. Inventory has been tight around here for a couple years now. Last year I know someone that was looking for a starter condo and paid almost 200k for something that is probably more like the 150k range. It's just nuts. (Hey Jeff, sorry for borrowing your thread for a minute.)

From what you are saying I think that it is both a hot real estate market and people are listing houses below their market value. I believe that Jeff might be interested in this information and perhaps he should have a discussion with his real estate agent in the Madison Area. They always say that it is Location, Location, and Location is the most important thing in real estate. My 3 BR 2 Bathroom house on Long Island with an unground pool on a 1/2 acre of property is worth about 300K. What is it about the Madison location that is making the real estate market so hot?

 

[SandyPGravel]

From what you are saying I think that it is both a hot real estate market and people are listing houses below their market value. I believe that Jeff might be interested in this information and perhaps he should have a discussion with his real estate agent in the Madison Area. They always say that it is Location, Location, and Location is the most important thing in real estate. My 3 BR 2 Bathroom house on Long Island with an unground pool on a 1/2 acre of property is worth about 300K. What is it about the Madison location that is making the real estate market so hot?

I'm not a Real Estate aficionado, but the houses that I am aware of are being listed above value. And, then they are getting offers above what they are listing for.(sorry if I was misleading) Houses are getting multiple offers the day they go on the market. With as fast as houses are selling there is no reason to list the house low. The only thing I can say about why, is lack of availability. Our friends are looking in Madison and the surrounding close suburbs. If I was in the market to sell right now, I think I would be a happy camper. But, like Jeff said, he is 40 min north of Madison.

 

[Tamaradarann]

I'm not a Real Estate aficionado, but the houses that I am aware of are being listed above value. And, then they are getting offers above what they are listing for.(sorry if I was misleading) Houses are getting multiple offers the day they go on the market. With as fast as houses are selling there is no reason to list the house low. The only thing I can say about why, is lack of availability. Our friends are looking in Madison and the surrounding close suburbs. If I was in the market to sell right now, I think I would be a happy camper. But, like Jeff said, he is 40 min north of Madison.

You weren't misleading. The VALUE should be the market value. Not some wrong or out of date appraisal. Therefore, if they are listing above value the value and are getting many offers significantly above value, the appraisal is wrong or out of date, and the listing is wrong based on the appraisal.

I understand what you are saying about Jeff's location being 40 minutes North of Madison. I offer the following while putting in perspective that you cannot compare Madison to New York City as far as jobs or attractions. Our house is 60 miles East of Manhattan and the time during rush hour by car it can take about 3 hours. Parking is probably $50/day. By railroad it is about 90 minutes and a $400/month railroad ticket and that is not counting the time it takes to get to the train which is about 20 minutes and then getting from Penn Station to your job location which depends on the location in Manhattan. My husband and I never worked in Manhattan and we rarely ever go.

 

[slip]

Well, our online auction started and the bids are coming in. Some stuff I never thought would sell already have bids so we’re off to a good start.

13 days and I will meet my wife at the airport and we’ll be off to Molokai. I will start a new thread for that. I can’t wait to see our new lanai door and our new windows.

So I will end this thread here. I only have one weekend left without my wife and then we can start getting to our new Normal.

One more set of food pictures though. Every time I go by this place there is always a line out the door and I mean a large line. I went by yesterday at lunch time and the line wasn’t bad so I checked it out.

Now I know what the fuss was about. Really good food and pretty cheap too. I had the Niku Udon, and Tempura Chicken, Shrimp and Mushrooms. Everything was excellent. You can watch them make the noodles, very cool.