Two years ago my 75-year old mother and step-father went to an auction and without having seen it before, bought a house. They were living in a nearby upper-middle class town, but mother fell in love with it. It needed some work, but soon they moved in and renovated it. They leased out their other house.
Last week they found out their tennants had found a house to buy and were moving out. They couldn’t decide wich house they wanted to live in. Mother decided she wanted to move back to the bigger house because she wants to be able to entertain more. Friday night they put the new house on the market. Saturday they had the first showings. Today the Saturday people wanted to see it again. This afternoon they had an offer, which they accepted. It hasn’t even hit the MLS listings and it’s likely sold. They’re going to make about $90K on it, about 60% more than they paid for it.