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From a realtor:* x6 G8 y, d7 |
I get new listings/changed listings/price changes sent to me weekly. I can’t tell you how many have had “price reduced” on them. Houses that were priced 560+ are now going for 499K.
# P$ W/ `8 X( T- M" PThe inventory is a bit low, but a lot of the inventory that we are looking for (500k+) are really crappy houses. We know of a house that we’ve had our eye on for about a year and its been on the market for 5 years (vacant). A brand new build…that’s going from original asking price of 780K down to 650K. I can’t imagine the holding costs on this house (property taxes, utilities) for the 5 years.! F! X _% N+ e9 W" u% T* n
We find a lot of houses that are built during the boom have unrealistic prices, houses built from 2006-2007/2008.4 n5 n1 V" O, f: w0 v& `( L
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You need to look at price history, not the Days on Market number. Many houses get relisted when they cant sell for the original asking price.
* ~0 W; m" d, W4 }5 @- D" BMy wife and I have gone to many house viewings thst have been in the msrket for 6 months to over a year this month.& E9 n' O# A2 v! Y3 E
ask your sales person for a price history. The ask/sell price stats are a complete lie. Any honest realtor will tell you that (like ours).% P9 E* o$ N) N0 j/ m& y
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