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From a realtor:
* w9 ^5 {- Q/ C- _1 KI 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.
! ~+ W1 n G4 p! y, R+ JThe 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.
. P1 {( _/ h3 g/ D, RWe find a lot of houses that are built during the boom have unrealistic prices, houses built from 2006-2007/2008.
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9 _* r7 s4 `7 i* OYou 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.
6 i2 z3 G. G. UMy wife and I have gone to many house viewings thst have been in the msrket for 6 months to over a year this month.
- a5 M% w. C3 s+ Uask 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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