WESLEY CHAPEL
NEWS
Volume 29 Issue 14 July 6, 2021
Red-Hot Market! By John C. Cotey John@NTNeighborhoodNews.com When it came time to sell his home in West Meadows, Glenn Schmidt and his wife Gretchen (photo) knew they were entering a pretty good local housing market. So, when they finally listed their home with long-time New Tampa Realtor Kristy Darragh of Florida Executive Realty, the Schmidts were hoping there was enough interest that they’d at least get their asking price. On a Friday, the Schmidts’ four-bedroom, three-bath house was officially put up for sale. On Saturday, they had 33 people show up for a showing. On Sunday morning, there were 22 more scheduled showings by 2 p.m. “I had to stop setting appointments,” Glenn says. “My phone would not stop blowing up.” By the end of the weekend, they had 15 offers, including two buyers offering to pay in cash, and they eventually accepted a bid well over their asking price. “We significantly more than doubled what we originally paid for the house,” he says. “It’s one thing
to hear that you’re going to do very well when you sell, but then to see (this)? It was ridiculous.” The Schmidts’ story would have been highly unusual just a year ago. But nowadays, it’s normal. “This market, it’s a phenomenon,” says Darragh. “It’s mind boggling.”
**** Chris Henry, another long-time local Realtor who lives in New Tampa, has had similar experiences recently. For example, he aggressively listed a client’s home for $25,000 more than he normally would have because the market was heating up, and it led to 74 showings over the next two days, resulting in 33 written offers. The house sold for an additional $30,000 over that already-inflated asking price. “You know, it’s cliché to say, but this is really unprecedented,” Henry says. He adds that a number of factors are creating a local market that is moving at breakneck speed. He says that home builders slowed down their pace after the 2008 housing “bubble” hit, building only half of what they would normally have built over the next 10 years. But now, those builders have been delayed in See “Red Hot Market” on pg. 4
Have You Ever Tried The Peruvian Cuisine At Lima? To find out why you should, see pages 32-33!!
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For Advertising Information Call 813-910-2575 • Wesley Chapel Neighborhood News • Volume 29, Issue 14 • July 6, 2021 • NeighborhoodNewsOnline.net
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