Reichi Lee had coveted the three-bedroom house right across the street from her in the Berkeley flats for a long time, so, when it came on the market recently, priced at $769,000, she and her husband carefully laid the groundwork to make an offer the sellers couldn’t refuse.
Except they did. And the house sold for more than $1 million cash, after receiving more than 20 offers. In an Opinionator column published on Berkeleyside, Lee writes about her sickening realization that in the current market, for a house on her very own block, trying her best meant not even coming close. Her experience, and the lessons she learned from it, provide a sobering a reality check for other hopeful homebuyers out there.
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