The hottest spot in Raleigh, North Carolina this Tuesday was the open house of a home under $300,000.
“When we say there is a housing crisis, we really mean it” A local realtor, Monique Edwards, said: In a viral video of upbeat buyers descending on the open house, their cars slither down the dead end in search of blocks. “It’s totally insane.”
In fact, the owner of the list Jim Ragland He told The Post that a ridiculous number of people showed up to see the $260,000 three-bedroom, two-bathroom property, which features a wrap-around porch, a rear storage shed, and a fireplace in the living room.
“I thought we’d get 16, 18 offers realistically,” said Ragland, who has lived in the area for 20 years and worked in real estate there for 15. “We had about 80 shows in a three hour period. It’s just an unreal market right now.”
The reason so many people thronged to the opening, Edwards emphasized in her video, is simple: supply and demand. The average price for such a home in the area is generally over $400,000, Ragland said, and the town of Raleigh has very little stock and no new construction to speak of.
“The sellers weren’t greedy” with their prices, Ragland said. “And in the process of not being greedy they received a blessing.
The whole cause of the deluge is also due to more logical and logistical reasoning.
Due to the delay, the Ragland seller pushed what was supposed to be a morning opening until 5:30 p.m., interfering with many viewers. In addition, Ragland had a professional photographer take pictures of the house. “Pictures in this price range are usually horrific,” he explained.
At the end of the day, home sellers had more than 30 bids on the property, and it’s now in contract for what Ragland said was “well above asking price.”
“Beer fan. Travel specialist. Amateur alcohol scholar. Bacon trailblazer. Music fanatic.”