88 Offers, 76 all Cash. The State of the DC Market

[Russell Brazil]

https://www.cnn.com/2021/03/29...

A story was on CNN about thr DC market. I wrote a fruitless offer on the property in the story. 88 offers, 76 all cash, 70% over

[Leo Watts]

@Russell Brazil

Interesting. All of the recent sold comps of various sizes and conditions I see have been selling in the 400s, 500s, and 600s, so the final sold price doesn’t look ridiculous. There’s a couple of similar square foot fully renovated comps in the high 6’s and low 7’s so maybe if an investor bought it, they will still be able to flip it for a profit. Seems ridiculous the listing agent listing it so low, unless they were planning on a bidding war, which they got.