Sellers' Market

 So we keep hearing about how crazy prices have become in Miami real estate. Today I heard some news that confirmed that.

Our next door neighbor bought their place in '12 for $1.5M. It was actually a bit of a steal for them -- our friend Diane was getting desperate to sell, following her divorce, and prices had dipped a bit. The people who bought are a couple with an average age of 45. He's in his 60s; she's in her early 30s. He has grown kids and a grandson from wife #1, but decided his virility was still extant, and now has 5 kids with the wife who is close in age to D1. 

They built a beautiful playground on the side of the house. When I complemented it, and told the husband I someday hoped to bring my grandkids to play there, he said "Grandkids??? Dave -- you're MY age -- have more kids of your own." No thanks. That would require replacing Wifey with a much younger model, and that's not in the cards for me. Grandkids are fine -- I adore the one I have, and hope for more.

Anyway, they put some money into the house, but not tons. I mean -- the bathrooms are late 80s vintage, and there is even carpet in some of the bedrooms -- supposedly verboten in any upscale house.

I'm no maven, but figured maybe the house was now worth a bit north of $2M. They listed it for $3M. They're under contract for $2.75M, and today got a cash offer for the full $3M asking price! Wow. That one hits close to home.

As a blue collar Jew from Levittown, LI public schools, I don't know that I feel comfortable in my 'hood anymore. I mean, I love living here and all, but at these levels?

Bill and Cheryl just sold their place -- a nice but very dated house on 1/2 acre. I would have thought it would have gone for about $800K. They got nearly their $1.4M asking price -- and the place sold in less than a week.

If Wifey and I were ready to downsize, it would make sense to sell. I'm not -- I figure the longer you're married, the MORE space you need to preserve domestic tranquility.

In Bill and Cheryl's case, they have a house in Colorado and a condo up in Jensen Beach -- so their cashing out makes tons of sense. But if you're staying in the 305 -- the nutty selling numbers leave you with nutty buying numbers. So we'll stay put.

The good news is that the new neighbors, according to the wife, are a young couple with a 1 year old -- they're moving from Miami Beach. I'm thinking that means they'll keep the playground, so my grandson can hopefully enjoy it, too. Of course, Miami Beach can easily mean Orthodox Jews, so that'd mean no playground on Saturdays. That's ok.

With this latest sale, there are no more houses on the market, in my 'hood. I have a feeling that may change, as people on the fence about selling might well decide to jump out now. I guess time will tell.

Eventually, the peafowl will be taking over anyway. I spotted a bunch of chicks with two peahens the other day. House prices will mean nothing to them...