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From a realtor:& y Z- e! E) m9 P) k
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.
2 R: `9 R: j4 E. o% |! B) YThe 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.
- q* w; L2 Y2 W4 U/ {7 S9 }+ x& AWe find a lot of houses that are built during the boom have unrealistic prices, houses built from 2006-2007/2008.7 {2 q2 p8 f; w. K
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5 x9 F" ^2 O( h8 v5 `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.
, ~8 U# P/ Q$ k: Q' GMy wife and I have gone to many house viewings thst have been in the msrket for 6 months to over a year this month.
# X8 T: l, M& e9 Q2 p5 K |+ ~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).5 O" E6 t% y. g
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