From a realtor: + h5 G1 Z' O* C- W( SI 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.9 @5 F! c. V. I& B2 o
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. 5 ?# j0 T% V0 [! ~0 i$ |' vWe find a lot of houses that are built during the boom have unrealistic prices, houses built from 2006-2007/2008.3 ]# v/ R: l7 u0 Q" v7 @
....... 3 [3 o! @/ r; L! Y; M! DYou 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./ r0 U; O% v8 I$ p( u
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." v- T) r2 i& T( Y7 `' J
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). ; o8 `* }: R) z0 b
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