Housing market is crazy here. Not enough inventory on the market. More buyers than sellers. I know a few guys that bought up several houses when the economy was so bad several years ago...foreclosures, etc...One bought a house for $10k. Had to do some repairs, etc...He may have had $25k or so in it. Kept it rented out all these years. Put it up for sale a few months ago at $130k. Multiple cash offers when it hit FMLS.
Another guy bought basically an old block building with a deck that had been converted to a cheap house by someone. 1000 sq. ft. or less. Someone bought it for practically nothing. Added siding, nice roof, interior work, nicer deck...it sold for $165k.
You could rent our your current home for awhile after buying the new one. Just in case you wanted to go back to it.
A good home inspection and title search on the one you are interested in will be a good start. If it hits the market...you may not have the opportunity to buy it. Everything sells here! It's just nuts right now.
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