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From a realtor:* h; V4 Z) D# o0 n( T1 Z1 ]
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.
, w9 M5 F$ `6 @6 S: CThe 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.
/ j1 J% s4 M/ L+ I- J7 z) S dWe find a lot of houses that are built during the boom have unrealistic prices, houses built from 2006-2007/2008.
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1 h! G ^% [6 j8 j$ rYou 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.* h. X0 _/ @+ v4 w9 x* s" ?
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.
% E7 \& W6 S- task 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).& g: p; E: i% M$ k9 g
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