I went out looking for land in Riverside this morning and attended the open house for 19 Hidden Brook, 0.4 acre, R-12, asking $1.495, that just came on. I thought that was a fair price but the agent told me they’d already received 21 offers and were going to sealed bids this afternoon. Lot of pent-up demand for new housing in Riverside.
On the other hand, some other open houses I saw aren’t going anywhere fast. One was offering a gift certificate to whoever came closest to predicting its ultimate selling price, but the gap between what the owner is asking and what I think it’s worth is so wide that it will be a year or more before it sells – who wants to wait a year for a gift certificate?
Another house was, I thought, quite nice, and I figured that it would probably sell close to its asking price, so long as that price was under $2 million. Imagine my surprise when I picked up the listing sheet and discovered it was priced at $4. I might be wrong in my valuation but I’m pretty sure I’m not $2 million wrong.