There will be a decent increase in equity; ARV goes up by about $60,000. 

She’s at retirement age and I think she was confident she would win but didn’t want to risk it since everything was on the table.  

I have a feeling that they are going to ask us to meet a reserve price, but I don’t know how much sense it will make to increase my offer.

The median price in the city hit 379,925 as of June 2024, reflecting a 6.3% increase.

Days on Market (DOM) since Q3 of last year.Single-family residence values continue rising and are selling for nearly 9% more than last year - National average for home sale price increases is 4% since last year per one of BP's most recent podcasts.Multifamily properties in Queens have sold for a median price nearly 6% above last year, jumping from $1,058,000 in Q3 '24 to $1,120,000 in 2024.Lastly, despite inventory increases, the # of sold properties has declined when compared to last year.

Investing now may be worth it, as interest rate cuts in 2025 may increase competition and prices.

But...As a broker, I will only issue a POF if I have personally reviewed the borrower's liquidity and can state with confidence that they have enough funds to close. 

Mine have formica, but if I needed to make a change I would probably do quartz to increase resale value if I ever decided to sell. 

Quote from @Brienne Metcalf: Something to consider.I don't recommend gradual rent increases, for a couple reasons.1.

If I can even get 7% COCR with my gained equity out of state it would be a substantial increase in cashflow.