Housing market

My house was on MLS for a total of 4 hours before receiving a full price cash offer with no contingencies. I was hoping for a bidding war, but have found out that in IA if you receive a full price offer with no contingencies you're required to accept it. So basically, while I bumped the price really really high, I priced it too low. Regardless, I'm pretty happy it sold.

Man if that were the law in some states you'd have two minute listings or you'd have people listing for 70% over market value.
 
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I shudder thinking of the price of gas there right now... its over $3 in CO and going higher for sure

Parts of LA are fun though

Average is about $4.35 in mid city for 87.

I just got a plug in hybrid so far loving the idea if gassing up once a month instead if once or twice a week.

There are a small handful of gas stations in touristy areas or areas with wealthy foreigners that permanently price gas $2-3 higher than anywhere else. So while a majority are 4.35, I know a few that would be 6 something. No real clue to how this works for them.
 
Average is about $4.35 in mid city for 87.

I just got a plug in hybrid so far loving the idea if gassing up once a month instead if once or twice a week.

There are a small handful of gas stations in touristy areas or areas with wealthy foreigners that permanently price gas $2-3 higher than anywhere else. So while a majority are 4.35, I know a few that would be 6 something. No real clue to how this works for them.
It'll be cool in 6 years when most stuff is electric. What did you get? That's exciting
 
It'll be cool in 6 years when most stuff is electric. What did you get? That's exciting

Leased Crosstrek hybrid because I'll take into the mountains and some basic trails. I know it's a transitional tech so didn't want to buy.

Almost 2 weeks in and the original tank of gas still at 95% full so pretty sure it's going to be more electric powered than gas (even with a low ev range) although the road trips will bring it closer to 50/50.
 
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Leased Crosstrek hybrid because I'll take into the mountains and some basic trails. I know it's a transitional tech so didn't want to buy.

Almost 2 weeks in and the original tank of gas still at 95% full so pretty sure it's going to be more electric powered than gas (even with a low ev range) although the road trips will bring it closer to 50/50.
I would look to put some gas stabilizer in if you don’t use a tank in over a month. Could cause some problems down the road.
 
Leased Crosstrek hybrid because I'll take into the mountains and some basic trails. I know it's a transitional tech so didn't want to buy.

Almost 2 weeks in and the original tank of gas still at 95% full so pretty sure it's going to be more electric powered than gas (even with a low ev range) although the road trips will bring it closer to 50/50.
Have heard those are excellent cars, nice
 
I would look to put some gas stabilizer in if you don’t use a tank in over a month. Could cause some problems down the road.

Yeah, dealer told me to use 91 only if a tank sits longer than 3 months. I have an 80 mile commute I still have to make 4-5 days a month even in new work from home reality. Just coincidence I didn't have to do it the first couple weeks and stayed in all EV range. I think when I start doing that and some road trips it will be about a tank a month other than road trips.
 
My house was on MLS for a total of 4 hours before receiving a full price cash offer with no contingencies. I was hoping for a bidding war, but have found out that in IA if you receive a full price offer with no contingencies you're required to accept it. So basically, while I bumped the price really really high, I priced it too low. Regardless, I'm pretty happy it sold.

I’ve never heard of that in IA before, but if it’s true, you should probably sue your realtor. If you find out it’s not true, you should definitely sue.
 
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My house was on MLS for a total of 4 hours before receiving a full price cash offer with no contingencies. I was hoping for a bidding war, but have found out that in IA if you receive a full price offer with no contingencies you're required to accept it. So basically, while I bumped the price really really high, I priced it too low. Regardless, I'm pretty happy it sold.

Your realtor lied to you to churn his commission check faster....no law in Iowa like you state. You have the right to refuse any and all offers.

I’d tell the realtor the deal is off and any fees or costs/lawsuits associated with you canceling can come out of an E&O claim from them. Re-list with an honest agent if you can find one.
 
I talked to a friend that sells real estate in Iowa. Your realtor lied - there is no law that states you have to sell your house if you are offered full cash price with no contingencies.

This is crazy. Hope he can call it off and get more $$$ if the market is that good.
 

That's a pretty long list. Never change Illinois, bunch a crooks.
 
Required by who?

My Friedrich realtor is who told me this on a call Saturday morning. He stated "you're required by law" and explained that it is intended so that a seller cannot discriminate against buyers. I'll ask for clarification as I'd never heard of this before.
 
My Friedrich realtor is who told me this on a call Saturday morning. He stated "you're required by law" and explained that it is intended so that a seller cannot discriminate against buyers. I'll ask for clarification as I'd never heard of this before.

Yeah, I'd definitely ask for clarification. I would even go as far as to have him send you a link to the law so you can read it yourself.
 
My Friedrich realtor is who told me this on a call Saturday morning. He stated "you're required by law" and explained that it is intended so that a seller cannot discriminate against buyers. I'll ask for clarification as I'd never heard of this before.

Definitely ask for a link to that specific law.

Personally, I’d also contact the Iowa Realtors Association to ask them and check with one or two other realtors not affiliated with yours.
 
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My Friedrich realtor is who told me this on a call Saturday morning. He stated "you're required by law" and explained that it is intended so that a seller cannot discriminate against buyers. I'll ask for clarification as I'd never heard of this before.

Is the buyer also repped by Friedrich, by chance?
 
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My Friedrich realtor is who told me this on a call Saturday morning. He stated "you're required by law" and explained that it is intended so that a seller cannot discriminate against buyers. I'll ask for clarification as I'd never heard of this before.
This is not true. I have made four offers on homes in Dubuque in the last four weeks and every one of the sellers listed their homes on MLS and then received multiple offers and the reviewed all of the offers they received at the same time like five days after they accumulated all of the offers. This way they were able to pick from the best offer they received. This is a good method for the seller under these market conditions because the prospective buyers know they have to make their best offer right away, usually offering more than asking price if they really want the home. It is a really common practice over here right now. The seller’s realtors are letting the buyers agents know this in advance telling them that they are accepting offers through such and such a date and that seller will review them all at the same time. I HIGHLY doubt your realtor is correct here and probably gave you bad marketing advice if they did not consider this strategy.
 
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My Friedrich realtor is who told me this on a call Saturday morning. He stated "you're required by law" and explained that it is intended so that a seller cannot discriminate against buyers. I'll ask for clarification as I'd never heard of this before.

Then why would anyone write those inspiring letters to the seller? I want to raise my kids in this wonderful home....
 
My Friedrich realtor is who told me this on a call Saturday morning. He stated "you're required by law" and explained that it is intended so that a seller cannot discriminate against buyers. I'll ask for clarification as I'd never heard of this before.

I sent him a message and asked for clarification. His response was "Oh boy. That's something I learned in Real Estate classes 20 years ago. I will see what i can come up with." and then he text "I have an email into legal."

Ultimately, it doesn't matter as the first offer required an response within 12 hours. I accepted it rather than wait.