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From a realtor:1 K2 ^% U) [& f4 l! J% _- I& p' H, J+ L* U
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.
3 C$ A5 C% g6 ^2 b! xThe 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.+ J4 H: g. E8 w( P7 z- h& l
We find a lot of houses that are built during the boom have unrealistic prices, houses built from 2006-2007/2008., a* N, |' A/ D. w5 D) D( e+ w
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$ N: o( b; i; u3 jYou 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.
2 n, g- H% o1 ?9 ^/ ^My wife and I have gone to many house viewings thst have been in the msrket for 6 months to over a year this month.# |% i2 }* d7 R/ Z0 ?2 Y2 G
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).
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