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Yeah, but people are listing low to attract more eyeballs. I sold a place in the bay area 5 years ago. I knowingly listed it about $200k under what we expect i
by throwaway09223 5y ago
Yeah, but people are listing low to attract more eyeballs.
I sold a place in the bay area 5 years ago. I knowingly listed it about $200k under what we expect it to go for based on comps. Huge swarm of interest and many buyers offering a price at around what we expected.
It's just a sales strategy.
- WarOnPrivacy 5y ago> Yeah, but people are listing low to attract more eyeballs. Any other year I'd accept that. However, that's unlikely to be true this year - in most US markets. Buyers and renters alike are bidding up properties because there is one property or less for every 100 prospects. Here, landlords get 400 applicants the first day a rental is listed. The second day they get 400 more unique applicants. The rental we just moved into was up for less than 2 hours and received 50 applications. We won by paying 6 mos in advance + last + 1.5x security.
- throwaway09223 5y agoLook, you don't have to take my word for it, the data is public. Go look up the comps and you'll see they match. There's nothing to "accept," it's just a fact. There have always been hundreds of prospects for each house sold. When I sold the aforementioned house we got roughly 500 people the first weekend and we were in contract after just a few days. It's been a hot market for a very long time. Sellers set a low price because the price doesn't matter. It will be bid at the market price regardless.