Home owners who are tired of the higher taxes are leaving California and heading to states like Texas that promise lower property tax and no income tax.
In Texas they are seeing lines forming just to see open houses and put in a bid. Many realtors are stating they have never seen the market this Hot, not even in 2007. Bidding wars are driving prices to unprecedented levels in other markets such as Florida.
Coronavirus-induced lockdowns also contributed to current trends, and money is cheap so some people are willing to overpay.
Cities like Dallas, Texas are benefiting from homebuyers from high-tax states with deep pockets. Look at http://www.zillow.com or http://www.epraisal.com to see how much your home is worth. You may be surprised.
This trend is not limited to Texas. The median price of a home is currently at the highest level in history, hovering around $353,000 — a 17% increase from a year ago, according to Realtor.com.
When buyers hear that “construction costs are the highest they’ve ever been,” they aren’t waiting around to build. They are buying Now!!!
“Homes that historically would sit on the market for 60, 90 days are getting multiple offers the first day on the market,” . “So, yeah, we’ve never seen something like this.”
With low interest rates and more people being qualified are other reasons why this is historically unprecedented. If you are looking to move out of California and want to sell your home quick, call Buyers of Bakersfield or click this link and get your cash offer. http://www.buyersofbakersfield.com