What is up with people putting a home on the market for say $200,000. Then buyers are going crazy like sharks in the water and making bids 10,20,even 40,000 over asking price to get the home. Houses are selling the day they are listed and prices are crazy. Old average Joe is out of luck these days.
200k? couldn't buy a Home Depot shed for that out west. 650k is about the entry level for a basic home on a small parcel of land.
I bought an acre on a local lake and waiting for building supplies to drop more if I can find a contractor. It's tripled in value in one year. I'm even considering selling it and look for a bargain next year if or when reaestate drops. I bought another 5 acres recently and will probably flip it in a month or so if this craziness continues.
