< Return to Talk
06.03.20, 20:38 PM General Topics
117 replies
People are so egregious with pricing their homes. Looking at a home now that seemed overpriced for what it was - turns out the current owners bought it in 2015 for 1/3 of what they're asking today. If they made any upgrades, I can't tell. [ Reply | Watch | Flag ]
General Topics 06.03.20, 08:38 PM Flag
 

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Housing prices are determined by supply and demand, not by the quality of the house. That's why that literal shack in San Francisco is worth almost a million dollars. [ Reply | More
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General Topics 06.03.20, 08:42 PM Flag
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True, but I can assure you, demand in this town did not triple in 5 years [ Reply | More
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General Topics 06.03.20, 08:46 PM Flag
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So I guess the price will come down. Or they will get the triple price and you can eat your heart out at their good fortune while finding solace in some buyer’s supposed idiocy. [ Reply | More
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General Topics 06.03.20, 09:01 PM Flag
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Indeed I will. I would rather be wrong and miss out on one home than be right and be stuck with an enormously overpriced house when the market crashes. To each their own. [ Reply | More
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General Topics 06.03.20, 09:27 PM Flag
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You are clearly smarter than everyone else. Enjoy your tiny space. [ Reply | More
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General Topics 06.03.20, 09:41 PM Flag
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No need! There are plenty of other homes in the neighborhood of the same size/quality for far less. You can come over and drink with me when you are upside down on your mortgage. [ Reply | More
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General Topics 06.03.20, 09:48 PM Flag
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Doubtful. I bought an estate condition house dramatically underpriced and created my true dream home with total spent still less than market. Now going to get grill fired up in our gorgeous backyard. [ Reply | More
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General Topics 06.03.20, 09:49 PM Flag
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Enjoy it! You were smart to buy a dramatically underpriced home. [ Reply | More
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General Topics 06.03.20, 10:00 PM Flag
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Renovations on the other hand were 3x what I expected. Still did fine, and results far exceeded my expectations, but new buyers simply don't realize how expensive it is to do renovations. [ Reply | More
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General Topics 06.03.20, 10:01 PM Flag
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Buying an estate condition home and renovating it is another avenue we're considering. We just went through it with our apartment in the city, and it was an absolute nightmare, but I guess if we could get through it in a co-op with summer rules, I guess we can get through it in the country. [ Reply | More
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General Topics 06.03.20, 10:08 PM Flag
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this [ Reply | More
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General Topics 06.04.20, 01:19 AM Flag
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You’ll see. The value is what a willing buyer will pay a willing seller. They may have to reconsider or they may actually get their price if they’re right an the hous/ land are that desirable. [ Reply | More
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General Topics 06.03.20, 09:14 PM Flag
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I hate people like you. Who the f are you to judge pricing? Because they got a deal or put tons of work into it you should have the right to the same? This is a terrible part of knowing old sale prices, especially since people don’t realize how expensive house upkeep and improvements are. I put over 400k into renovating n counting basic upkeep and some a— like you will think they have a right to the old price plus a bit after I did all the work they wouldn’t doAnd didn’t pay for. [ Reply | More
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General Topics 06.03.20, 08:47 PM Flag
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Who is the BUYER to judge pricing? Is that a real question? [ Reply | More
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General Topics 06.03.20, 08:50 PM Flag
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This. The OR is ridiculous. [ Reply | More
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General Topics 06.03.20, 08:53 PM Flag
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Nope. People think they have the right to the old price even though the current owners put tons of money into upkeep and renovations or the market has moved. If it’s priced three times more on a lark, it won’t sell. If OP is annoyed and thinks they are getting a windfall they should not be entitled to, OP is the ridiculous one. Not fair to price based on old price - that is irrelevant - it’s what money went into it, how much nicer it is now, and what the market will bear. [ Reply | More
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General Topics 06.03.20, 08:56 PM Flag
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No one thinks they have a "right" to the previous selling price. Discerning shoppers will wonder what work you did to make $1M in 5 years, and if it's not evident and the market doesn't justify it, they will pass. [ Reply | More
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General Topics 06.03.20, 09:05 PM Flag
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Right but that should not be the relevant question. The relevant question should be, what is that house in that condition in that location worth. But because people have access to prior sale price they will indeed decide what the goose is worth in part based on that. Not fair to current owner, who then does not get the benefit of their prior good investment and/or renovations because others don’t think they should have a right to such a “windfall”. [ Reply | More
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General Topics 06.03.20, 09:11 PM Flag
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That's a fair point about the previous buyer making a good investment. In this case, the house is markedly overpriced compared to others, which is why I questioned their pricing rather than applauded their investment. [ Reply | More
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General Topics 06.03.20, 09:19 PM Flag
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No one thinks that. Everyone generally knows what improvements are and how much they cost/are fetching in the market. I THINK what OP is lamenting is like what we are going through. We are shopping for a country house and people whose grandparents paid $75,000 for a place that is literally leaning 2 ft. over and needs to be razed think they should get $1.2M because it's on a lake. The land is not worth that much. Period. [ Reply | More
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General Topics 06.04.20, 12:25 AM Flag
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Np- This, exactly. We’re actually looking for a reno project and we’re in no rush. I’ve seen many properties drop hundreds of thousands of dollars as the sellers realize their pricing was wildly off the mark. [ Reply | More
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General Topics 06.04.20, 01:01 AM Flag
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Yep. These houses are dropped again and again and still don't sell. [ Reply | More
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General Topics 06.04.20, 02:31 AM Flag
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There is no ROI for upkeep. Lack of upkeep, on the other hand, results in losses. [ Reply | More
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General Topics 06.03.20, 09:21 PM Flag
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Not in my neighborhood. Everything sells at high prices, even in bad condition. The houses maintained in relatively good condition get much more. [ Reply | More
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General Topics 06.03.20, 09:42 PM Flag
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NP- If you put $400k into doing work that then causes the house to be priced well above comparable houses in the area, that was a bad investment on your part. [ Reply | More
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General Topics 06.03.20, 08:53 PM Flag
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Wrong. Got a great buy in a house and put in a ton of work and money to make it just the way I want. But some idiot buyer will think I should only get based on the old price, even though if they didn’t know the old price, they would think that price plus 400 is still a good deal for this. [ Reply | More
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General Topics 06.03.20, 09:00 PM Flag
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OP here- to be clear, that's not what's happening here. The house is considerably overpriced compared to similar houses in the neighborhood. I have seen other houses where the price went up considerably since it was last sold, but the price is comparable to others in the area, and I have never turned up my nose at that. [ Reply | More
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General Topics 06.03.20, 09:13 PM Flag
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Hate seems a bit much in this regard. [ Reply | More
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General Topics 06.03.20, 09:20 PM Flag
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It's an expression. I don't hate OP! But what she is doing, which many do, is just not fair. Should look only at condition of house, neighborhood and comps, not try to get a discount because prior owner made a good deal. [ Reply | More
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General Topics 06.03.20, 09:45 PM Flag
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OP- to be perfectly clear, I did not just look at the past purchase price and say, "Wow, I should just make an offer for 10% above that". As another poster mentioned there is a ton of non-cosmetic work that could have been done. It's not the fact that it's 3x what the seller paid, it's that it's wildly overpriced. I understand that as a seller, it must be frustrating to get offers from people who don't appreciate what work you've put in. Hopefully you can understand, as a buyer, how annoying it is to see sellers who have not put such diligent work into their homes try to take advantage of a "dumb city family". (Again, if all comps were in this price range, that wouldn't be "trying to rip off a dumb city family", that would be the market speaking. This isn't that.) [ Reply | More
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General Topics 06.03.20, 09:55 PM Flag
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I seriously don't get why you are annoyed or why you are spending any time thinking about this house. If you think they are "dumb sellers" who will never get their price, why give it a second thought? Seems like you actually want the house and wish it were cheaper. If there are so many other much cheaper much better houses in same location, what is the issue? [ Reply | More
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General Topics 06.03.20, 09:58 PM Flag
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In real life, I immediately scrolled past it and moved on. But since I posted what I thought would be a throwaway comment on UB and it lit up, I'm responding. [ Reply | More
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General Topics 06.03.20, 10:02 PM Flag
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^^ In any case, it's been valuable to see the other side. That is not the home for me, but I will keep these posts in mind as I continue to my search. [ Reply | More
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General Topics 06.03.20, 10:03 PM Flag
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Good luck! [ Reply | More
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General Topics 06.03.20, 10:06 PM Flag
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Thanks! [ Reply | More
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General Topics 06.03.20, 10:09 PM Flag
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Guess you aren’t getting that house. But something you can afford, or go buy the same house for 2015 price if it’s so easy. [ Reply | More
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General Topics 06.03.20, 08:49 PM Flag
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I can afford it, but I won't. Plenty of people will be upside down on their mortgages before you know it. [ Reply | More
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General Topics 06.03.20, 08:50 PM Flag
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Great. Go buy the same house for one third the price if you can get it. If not, don’t buy, or stfu. [ Reply | More
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General Topics 06.03.20, 08:57 PM Flag
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Thanks, I will buy either a much better house for the price that they are asking or a comparable house for 1/2 the price, and 2 years from now when their house is still on the market, they'll be down at least one all-cash potential buyer (me). [ Reply | More
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General Topics 06.03.20, 09:45 PM Flag
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Ok so then they won't get their price. I don't see what the issue is that is "egregious." [ Reply | More
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General Topics 06.03.20, 09:51 PM Flag
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I get mad about that too. People list a house during covid with a kitchen from 1942 and then say "accepting offers June 4 from 9-11 am. " That seems optimistic? I also get annoyed at people who try to sell stuff on Facebook at outrageous prices. "Cocktail dress, worn twice, original price $100. Asking $80." Pls [ Reply | More
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General Topics 06.03.20, 09:06 PM Flag
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So don’t buy it. You only get mad because you think people should be willing to accept less. Not your call. If they can get it, good for them. Nothing to get mad about. [ Reply | More
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General Topics 06.03.20, 09:13 PM Flag
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THIS, a thousand times over. It's not annoying, it's just what the market will bear. Or not! [ Reply | More
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General Topics 06.03.20, 09:17 PM Flag
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I really can’t imagine getting annoyed by something like that. They can list it for $500 for all I care. [ Reply | More
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General Topics 06.03.20, 09:14 PM Flag
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The market will correct if the prices are so out of whack. But my bet is for second home near NYC, prices will quite inflated. [ Reply | More
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General Topics 06.03.20, 09:15 PM Flag
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And someone might see that dress and say they have to have it. It’s the market. [ Reply | More
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General Topics 06.03.20, 09:19 PM Flag
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ITA. [ Reply | More
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General Topics 06.03.20, 09:20 PM Flag
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So many NYers are going to regret their impulse real estate purchases in the wake of COVID next year when their company has laid off half the staff and wants the remaining people back in the office full-time, and the inflated prices they bought in the crisis are not sustained. It's going to be like 2008 all over again. [ Reply | More
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General Topics 06.03.20, 09:36 PM Flag
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...you are expecting NYC real estate prices to...inflate? during pandemic? That seems odd to me. Most people are expecting commercial and residential prices to decline quite steeply. [ Reply | More
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General Topics 06.04.20, 01:31 PM Flag
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PP: No, I mean those that panic-bought a 2nd or 3rd house in the country will regret it- when their plans to WFH indefinitely are shattered or when they are laid off and can no longer afford the 2nd mortgage and no one wants to buy at the inflated price they bought it at [ Reply | More
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General Topics 06.04.20, 04:12 PM Flag
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I have listed used items for high prices because if I don't get the price I want, I want to keep it. Sometimes people buy certain items and other times they don't and I keep it. Same thing w real estate. If you are very motivated, you list according to the market. If you would only sell for a certain price you keep it at your number that works for you [ Reply | More
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General Topics 06.03.20, 09:45 PM Flag
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I don't get why anyone would use the old price as a judge of the new price. There could easily have been non-cosmetic things like furnace, roof, etc that brought down the the prior sale price - or the value of a house in a nbhd could have dramatically changed in the time they had the house. The house has a value, and that value is NOT based on prior sale price - it's based on what people will pay for that house in that location in the moment that they sell it. [ Reply | More
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General Topics 06.03.20, 09:16 PM Flag
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Totally - except as my realtor confirms, because people have access to the prior sale price, this is totally not the way they think. They think, owner paid eg 600k, they aren’t entitled to 1.1 three years later, even if comprable house sells for 1.1, they should take less bro get such a “profit” [ Reply | More
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General Topics 06.03.20, 09:23 PM Flag
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I understand that. I thought it was clear from my OP that it's not just that the price went up astronomically, it's that it's way out of range for similar homes. [ Reply | More
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General Topics 06.03.20, 09:29 PM Flag
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Tell that to people who bought with 5% down in 2007. [ Reply | More
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General Topics 06.03.20, 10:53 PM Flag
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I’ve only used the old price to see if the seller would be willing to negotiate especially if the property is old and need renovation or it’s been sitting for awhile. Otherwise some people won’t budge. I know an apt that they paid $1M twenty years ago and they want almost $6M now. They didn’t budge for months and then they lowered it by 300k which really isn’t that much since the apt haha original flooring and everything else else. Now we’re in quarantine and they’re SOL. [ Reply | More
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General Topics 06.04.20, 12:32 AM Flag
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This is so comical. Pricing is based on comps. Doesn’t matter if they bought it for $50,000. If comparable houses go for $2M then the price is $2M. How old are you? [ Reply | More
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General Topics 06.03.20, 09:20 PM Flag
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As I've said, it is significantly overpriced compared to comps. So yes, I looked at the previous price to see if maybe they were just trying to get out of the hole. [ Reply | More
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General Topics 06.03.20, 09:25 PM Flag
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Ok then I would ask the seller to explain why. [ Reply | More
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General Topics 06.03.20, 09:45 PM Flag
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so don't buy it [ Reply | More
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General Topics 06.03.20, 09:46 PM Flag
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This would still have absolutely nothing to do with how much you offer. You shouldn't subsidize their bad investment just as you shouldn't profit from their good investment. Do you have a broker guiding you? You don't seem to have a clue. [ Reply | More
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General Topics 06.03.20, 09:53 PM Flag
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I wasn't going to subsidize their bad investment. I was just curious if that might be the reason they priced it so far out of range of others. Yes, I do have a broker, but this particular home I found through my own browsing. [ Reply | More
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General Topics 06.03.20, 09:58 PM Flag
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This is like asking for someone's current salary on a job interview. That's not important -- what is the house worth now. [ Reply | More
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General Topics 06.03.20, 09:32 PM Flag
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But since people have access to past pricing, I guarantee it is a factor. Just like past salary would be a factor (which is exactly why in NY you aren't allowed to ask that any more). Past sale prices should not be visible for the same reason. [ Reply | More
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General Topics 06.03.20, 09:43 PM Flag
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Idk - I agree that the current value shouldn't be based on the selling price, but I think there's value in seeing the past selling prices. It's kind of like looking at a stock's past performance before deciding to buy some- past performance isn't a guarantee of future performance, but it gives you context. [ Reply | More
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General Topics 06.03.20, 10:16 PM Flag
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The context should be the condition of the house, comps, and how much buyer wants the house and seller wants to sell. Basing off past price means seller cannot profit from a prior good deal or renovations that raised price more than what they cost. [ Reply | More
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General Topics 06.03.20, 10:42 PM Flag
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PP: I explicitly said the current value shouldn’t be based on the past selling price. But when you buy a house, you’re investing in a lot more than just the physical house/property. The buyer has a right to know the value of the home over time and the stability of their investment. [ Reply | More
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General Topics 06.03.20, 11:02 PM Flag
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This is determined by COMPS over time, not the particular value of one house. People who see a price much lower will immediately be colored to want to think the seller should accept a lower price, even if the current price is comparable to other homes. Same with the stupid comment about the dress - they will think seller shouldn't be ENTITLED to such a profit. [ Reply | More
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General Topics 06.03.20, 11:54 PM Flag
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Actually, I think it's different. Sale of a house is a one shot interaction. If you pay someone significantly less than they made before, they may be really resentful. [ Reply | More
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General Topics 06.03.20, 10:09 PM Flag
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Agree that it's not quite the same thing. A key part of an employees "value" is in their experience- that experience is only going to continue to grow. They will never have less experience than they did on the day you hired them. But a home can lose value. [ Reply | More
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General Topics 06.03.20, 10:23 PM Flag
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Come on - most employers ask this so that they don’t overpay not so that they can make sure to offer enough [ Reply | More
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General Topics 06.03.20, 10:39 PM Flag
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Exactly. They want to know your current salary so they can offer five percent more. [ Reply | More
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General Topics 06.04.20, 01:55 AM Flag
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It's their right to ask whatever. It's your right to offer whatever. [ Reply | More
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General Topics 06.03.20, 09:41 PM Flag
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this. if you have a meeting of minds, then you have a deal. If not, move on [ Reply | More
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General Topics 06.03.20, 09:46 PM Flag
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Absolutely THIS. [ Reply | More
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General Topics 06.03.20, 10:09 PM Flag
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This. If it’s overpriced, it just sits. The market will speak/respond. [ Reply | More
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General Topics 06.03.20, 10:57 PM Flag
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After all this I'm curious what neighborhood. [ Reply | More
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General Topics 06.03.20, 10:02 PM Flag
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People can ask whatever they want. If they're vastly overpriced, they will have to eventually reduce the price if they're serious about selling. But it's not that uncommon to start our with a very high price just in case there's someone out there who wants the house desperately enough. [ Reply | More
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General Topics 06.03.20, 10:04 PM Flag
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It's not always a great strategy but it can pay off. [ Reply | More
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General Topics 06.03.20, 10:09 PM Flag
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That's a good point. It was just listed 2 weeks ago, so I suspect it will come down over time. Or, as you said, someone will want it desperately enough to buy it at that price. [ Reply | More
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General Topics 06.03.20, 10:10 PM Flag
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They might have no big interest in moving, but are throwing this out there to see if anyone bites. [ Reply | More
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General Topics 06.03.20, 10:09 PM Flag
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I didn't really think about it that way, but in that context, it makes sense. [ Reply | More
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General Topics 06.03.20, 10:18 PM Flag
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Yes, my friend's mom listed her house for a lot (overpriced in my opinion) but she is happy to stay put. If she gets it, she feels it will be worth it to move. [ Reply | More
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General Topics 06.03.20, 10:26 PM Flag
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That's what a friend is thinking about an apartment she owns in a desirable area. [ Reply | More
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General Topics 06.04.20, 02:16 AM Flag
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An overpriced house won't sell. I don't think it really matters what they paid for it. As people say, you don't know what they did or what they had to put up with. I know a crazy (well not actually crazy. well respected city exec) who maxed out buying a run down house. Lived in it during renovations with no bathroom, peeing down the "chute" and showering at his gym for a number of months. His house is worth about 5 times what he paid for it. If I had to pee in a bucket I would want to be compensated for it, but honestly you are not entitled to that story. No one is forcing you to buy the house. If you think it's too much for the area/state of the house, move on. [ Reply | More
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General Topics 06.03.20, 10:37 PM Flag
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Why shouldn't someone get the maximum price for their house? [ Reply | More
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General Topics 06.03.20, 10:52 PM Flag
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link? [ Reply | More
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General Topics 06.03.20, 11:05 PM Flag
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Not OP, but I’ve seen this too. https://www.zillow.com/homedetails/350-Cushman-Rd-Patterson-NY-12563/31918598_zpid/?utm_campaign=iosappmessage&utm_medium=referral&utm_source=txtshare — bought in 2017 for $350k, a year later put it on the market for $950k. I saved it when it went down to $559k, but am not a particularly motivated buyer so didn’t reach out about it. When I went to pull the link up, looks like they sold it for ... $350k. [ Reply | More
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General Topics 06.04.20, 12:29 AM Flag
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Actually looking at this again, it looks like they pulled it off the market, they didn’t sell. But still, my point stands. [ Reply | More
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General Topics 06.04.20, 01:06 AM Flag
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Gosh that's nice. [ Reply | More
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General Topics 06.04.20, 04:15 AM Flag
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Do your research. Actually figure out if they've put work into it. Renovations can cost an absolute fortune and the price would reflect that. [ Reply | More
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General Topics 06.03.20, 11:48 PM Flag
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This. My DH never seems to understand why some brownstones in our area that are (he thinks) the "same" as ours cost twice as much or more. I can point out all the work that was done in the other houses, but he still doesn't realize how much this kind of thing can cost. [ Reply | More
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General Topics 06.04.20, 12:35 AM Flag
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It sounds like you’re actually agreeing with OP’s point. If you priced your house at the same ask as others who have done renovations, you wouldn’t be surprised if it sat on the market and people called it overpriced. [ Reply | More
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General Topics 06.04.20, 12:52 AM Flag
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Nope [ Reply | More
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General Topics 06.04.20, 02:46 AM Flag
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I would never pay "at-price" for a renovation. Why? 1) Many renovations are cosmetic and to a trend that will go out of date in less than 10 years 2) no matter how renovated, you'll always want to do more 3) Most renovations that are cosmetic do not increase the actual value of house - either in terms of appraisal value or market value -- so why should you pay for it? Selling on renovation is a marketing tactic to increase marketability - it's worth scrutinizing this very closely. [ Reply | More
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General Topics 06.04.20, 12:58 AM Flag
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The kind of brownstone renovations I'm talking about really make the houses worth much more than ours. Gut renovations that really improve the house structurally and in all the various systems. Stripping woodwork to the original. Central air. Beautiful floors and restored woodwork, decks, roof decks, etc. Landscaped backyards. Kitchens and baths with very high end finishes that just take the houses to a very different level. We've done some of this bit by bit but I'd rather not keep renovating while we're living in it. But there's a reason why houses that may seem to be like ours at a cursory glance, actually sell for a couple million more than ours is worth. [ Reply | More
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General Topics 06.04.20, 02:54 AM Flag
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The life of a kitchen renovation or bathroom renovation is about 10 years. So if they had it done 5 years ago, think you'll want to renovate in another 5 years anyway. [ Reply | More
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General Topics 06.04.20, 01:03 AM Flag
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Oh come on, how long a reno lasts is totally up to the occupants. You mean to say YOU want a kitchen or bathroom not more than 10 years old. [ Reply | More
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General Topics 06.04.20, 01:34 PM Flag
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No, I live in a pretty old house, and am not bothered by my 90's kitchen. But, interior design trends, as a general rule, is about 10 years. [ Reply | More
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General Topics 06.04.20, 07:43 PM Flag
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Hmmmm, you don't need to buy the home. Find a home that fits your price. [ Reply | More
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General Topics 06.04.20, 12:04 AM Flag
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You need to be a savvy shopper, that is your responsibility. And most people are, so the market will take care of it, generally. [ Reply | More
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General Topics 06.04.20, 12:53 AM Flag
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Don’t know why everyone is ganging up on OP. Yes, lowballers and other non-serious buyers are annoying, but no one here believes there are people who overprice their houses? [ Reply | More
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General Topics 06.04.20, 12:55 AM Flag
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If in the NYC area, the market is too efficient to not check this pricing. Watch the house and you'll see the price come down, or the sellers, in their delusional state stubbornly stick to the price, and then it sits there, and ultimately, they either are driven to sell reluctantly, or they pull of the market. Often, these people pull of the market, because they are not pricing to sell. They are pricing and "see what happens," and then they decide "I'm not giving my house away" and don't move. [ Reply | More
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General Topics 06.04.20, 12:55 AM Flag
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off not of. [ Reply | More
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General Topics 06.04.20, 12:55 AM Flag
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And to add, a lot of these boomers will not move - they will ultimately end up staying and then just renovate their house to age in place. [ Reply | More
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General Topics 06.04.20, 12:56 AM Flag
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Yes, this exactly. People are so deeply tied to their own perceived value of their home. Look how many people were quick to snark to OP “sorry you can’t afford it” without knowing anything about the house, the area, OP’s budget, if the house actually had any renovations, etc. The only thing they could think about is their own precious home and how they would feel if someone dared suggest that it wasn’t worth 3x what it was 5 years ago. [ Reply | More
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General Topics 06.04.20, 01:21 AM Flag
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Both times we've bought, it's been the top of the market and I worried that we were overpaying. In both cases they were excellent investments that increased dramatically. [ Reply | More
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General Topics 06.04.20, 01:22 AM Flag
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This makes no sense. Definitionally, buying at the top of the market means that the prices fell. Perhaps you waited out the fall, but surely you had to hold for many years. [ Reply | More
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General Topics 06.04.20, 01:49 AM Flag
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+1 [ Reply | More
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General Topics 06.04.20, 02:16 AM Flag
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Ok, it turned out not to be top of the market but prices were increase 15% per week with tons of overbidding in order to get anything. In one house we didn't get, we put in a bid of nearly 100K over asking! [ Reply | More
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General Topics 06.04.20, 04:17 AM Flag
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and there was a little bit of a fall but it came back and tripled in value by year 8. [ Reply | More
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General Topics 06.04.20, 04:18 AM Flag
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Inventory is so low right now they can command a high price. I wish DH parents would sell but that won’t happen. [ Reply | More
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General Topics 06.04.20, 11:58 AM Flag
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It's a n asking price. You can make a low-ball offer and see what happens. This is the game, this has always been the game [ Reply | More
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General Topics 06.04.20, 12:07 PM Flag
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If they are asking double the price for comparable houses in the area, they clearly don't care much if they sell, they just think given people wanting to leave the city, they might get more if they ask for more. Tripling since 2015 is strange, especially going from say 500K to 1.5, if other houses are selling for 750. [ Reply | More
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General Topics 06.04.20, 01:09 PM Flag
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Go see it and ask questions. What does your broker say, they should have better insight if the owners are totally out of touch or there is something special about this house. If you really like it, you will have to wait for them to drop the price. [ Reply | More
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General Topics 06.04.20, 01:51 PM Flag
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There are a lot of people who don't want to actually sell their house, they just want to try to hit the lottery. They're the same people who will have the house off the market in six weeks because "no one buys homes in the summer" and then relist it for $200k less in December. [ Reply | More
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General Topics 06.04.20, 04:38 PM Flag
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People of past generation were told that houses are "investments" and so they kept throwing money at their house, because everyone from the realtor to the contractors told them they would "get their money back." So they did - but most improvements are mere maintenance or doesn't actually add much value at all. [ Reply | More
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General Topics 06.04.20, 07:46 PM Flag
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