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The Water Cooler
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<blockquote data-quote="retrieverman" data-source="post: 3793988" data-attributes="member: 24452"><p>I saw a thread on another board questioning when the housing bubble will pop specifically in Austin TX, and the opinion of a guy in real estate said it won’t anytime soon because it’s being driven by people from Californication with ridiculous money in hand from selling their houses out there. This guy knew of 4 houses in his neighborhood that sold for $100-150k OVER asking price.</p><p></p><p>Now I’m sure it’s not happening like that every where, but even where I live in rural east TX, land prices have gotten stupid. I know a guy who was trying to buy 35 acres next to his place, and it got into a bidding war. The real estate agent was only taking cash offers, and it sold for $7200 an acre. He bid $6200, but it was only worth about $2500-3000/acre.</p></blockquote><p></p>
[QUOTE="retrieverman, post: 3793988, member: 24452"] I saw a thread on another board questioning when the housing bubble will pop specifically in Austin TX, and the opinion of a guy in real estate said it won’t anytime soon because it’s being driven by people from Californication with ridiculous money in hand from selling their houses out there. This guy knew of 4 houses in his neighborhood that sold for $100-150k OVER asking price. Now I’m sure it’s not happening like that every where, but even where I live in rural east TX, land prices have gotten stupid. I know a guy who was trying to buy 35 acres next to his place, and it got into a bidding war. The real estate agent was only taking cash offers, and it sold for $7200 an acre. He bid $6200, but it was only worth about $2500-3000/acre. [/QUOTE]
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