I'm no SVTP baller, and my current landlord has informed me he's putting the property up for sale. I'm open to put in an offer, but he's already received one before even putting it in on the market. The number he gave me I thought was obscenely high. But I checked at some estimates online, and sure enough it's on the high end, but it's reasonable. Somehow the property and the better part of the market has appreciated nearly 100% in the past 5 years. Insane, but it is what it is.
Now basically I'm left with the options of bidding or trying to find another place. This seems like the worst time for either with the market at all time highs and supply painfully short. I've been on the hunt for the past year or two around here and you can't even get a chance to see a house before it's pending. It seems like I'm going to have to pay through the nose for something, it's a question of what are the risks and advantages to either. If I buy this place out it's less than ideal, and I'll take a big hit if/when I sell in a down market when I find something more suitable. That all depends on what the market does, and unfortunately I don't have a crystal ball. If I look elsewhere, I'm going to have to fight tooth and nail to get something at all in such a short time period, and likely settle for something far less than ideal at a hefty premium.
Any real estate experts to chime in with their thoughts on it would be more then appreciated.
Now basically I'm left with the options of bidding or trying to find another place. This seems like the worst time for either with the market at all time highs and supply painfully short. I've been on the hunt for the past year or two around here and you can't even get a chance to see a house before it's pending. It seems like I'm going to have to pay through the nose for something, it's a question of what are the risks and advantages to either. If I buy this place out it's less than ideal, and I'll take a big hit if/when I sell in a down market when I find something more suitable. That all depends on what the market does, and unfortunately I don't have a crystal ball. If I look elsewhere, I'm going to have to fight tooth and nail to get something at all in such a short time period, and likely settle for something far less than ideal at a hefty premium.
Any real estate experts to chime in with their thoughts on it would be more then appreciated.