It was reminiscent of 2005!
I had an appointment to show a property at 8:30 last night in the Ellwanger Berry/Highland Park neighborhood and when I arrived, there were people lined up on the street to get in. It wasn't too big of a surprise since the last three properties I tried to show in this neighborhood sold before I could get in.
In a similar fashion, I put a "for rent" sign up on my South Wedge property Saturday and it took exactly 12 minutes before someone knocked on the door to see it. My phone has been ringing off the hook ever since and I have appointment to show it to 8 different tenants and I have one offer on the table to buy it.
I've written three purchase offers this week and it is only Wednesday at 8:15 am. At the moment, we are not having a housing slump in Rochester!
2 comments:
As a relatively new wedge resident and homeowner, this both confirms my guesses about what's going on and makes me less worried about our property value. It's very hard to get reliable info online about rochester real estate, I very much appreciate you mentioning this! We bought in the wedge both because we loved the area but also because we figured it would be at least insulated from the inevitable subprime mess (we bought in 2006 but realized it was coming thanks to other bloggers), if not buoyed by being an up-and-coming neighborhood. The wedge just continues to grow!
Thanks for writing. It's nice to know that someone is still reading the blog!
Of course, there are no guarantees in real estate but I think the South Wedge area is as good of a bet as there is in Rochester real estate. In fact, since the price of gas jumped this summer I see more and more demand for city property. When I look at the closed listings in the Wedge, property is selling in 3 to 5 days unless it way over priced or in poor condition. Take good care of your property and you should do fine.
If you ever want more specific information about property values in your neighborhood, don’t hesitate to e-mail or call. Again, thanks for posting the comment. I wish more people would.
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