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From a realtor:
* d! ]6 c+ H: M6 Y* xI 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.
0 n" D6 T" q+ h. G0 {5 @The 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.
1 H, ~+ t3 P% G: d, o5 [: `We find a lot of houses that are built during the boom have unrealistic prices, houses built from 2006-2007/2008.4 z! s! J+ ?/ y7 P3 b( B" d5 @" E* [
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& O+ f, F: Y9 r! n( WYou 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 d, B# M- r" t* O! rMy wife and I have gone to many house viewings thst have been in the msrket for 6 months to over a year this month.
/ _5 c: w) {$ B# a8 [% e" \" c) I9 }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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