Next door house listed for $100k more.

[Anonymous]

Anonymous wrote:How much is a two car garage to build?

You should at least try $699 if you want to be in one price filter.

Or $740.

People will understand why you picked those prices.

Put "motivated seller" in the ad and see how much people ask for as a discount.

Agree. I wouldn’t consider listing for anything less than $699k.

[Anonymous]

Anonymous wrote:

Anonymous wrote:This is a clear sign that the market is shifting. There is a fear of missing out. My friend in NY 1 hour from Manhattan told me that there are a lot of houses that have been listed in September. Some sellers don't want to wait until next summer. If you are a buyer this is an opportunity for a good deal. Even if you have kids in elementary it's worth moving them if you find a good deal in a good district.

I think we will have the busiest September/October we have had in awhile

HAHA! clearly posted by a realtor. No one has FOMO in the real estate market right now, with 7% interest rates

But mortgage rates have been at that level though for awhile no? Have you seen the 10 year rate? I am not sure how mortgage rate can go below 5% with the direction of the 10 years rate. Those who can buy will do so. Those who can't will keep renting. And life goes on.

[Anonymous]

Anonymous wrote:

Anonymous wrote:How much is a two car garage to build?

You should at least try $699 if you want to be in one price filter.

Or $740.

People will understand why you picked those prices.

Put "motivated seller" in the ad and see how much people ask for as a discount.

Agree. I wouldn’t consider listing for anything less than $699k.

OP here. But If we list at $740 wouldn't that exclude those who may believe that we won't take anything less than? But I agree with you perhaps $699k is the sweet spot. We will be discussing pricing with our realtor tomorrow but we wanted to educate ourselves first as it's our first time selling and also September is not the ideal month. I got a job in another state and I already moved there, DW and the kids will be joining me shortly, so we have to sell now. And because it's September that's why we also think that we may not get the same price as the house that was recently sold. We are willing to let the house sit for 2 months, beyond that we have to take the best offer at that time.

[Anonymous]

Anonymous wrote:

Anonymous wrote:How does your house compare to the one that just sold for $740,000?

OP here. Same model house. Ours is much better. Our roof and windows are less than 10 years old. And that house closed 1 week ago. It was listed in July for $679k. I think they got lucky if you want my honest opinion. We of course would love to be lucky like them.

They weren't lucky. They had a good pricing strategy. You want one too.

[Anonymous]

Very helpful

[Anonymous]

Anonymous wrote:This is a clear sign that the market is shifting. There is a fear of missing out. My friend in NY 1 hour from Manhattan told me that there are a lot of houses that have been listed in September. Some sellers don't want to wait until next summer. If you are a buyer this is an opportunity for a good deal. Even if you have kids in elementary it's worth moving them if you find a good deal in a good district.

I think we will have the busiest September/October we have had in awhile

Yeah totally. An isolated vague anecdote is the clearest sign you could ask for that thr market is “shifting”.

[Anonymous]

Anonymous wrote:

Anonymous wrote:How does your house compare to the one that just sold for $740,000?

OP here. Same model house. Ours is much better. Our roof and windows are less than 10 years old. And that house closed 1 week ago. It was listed in July for $679k. I think they got lucky if you want my honest opinion. We of course would love to be lucky like them.

So why don’t you sell it for closer to the price it sold for?

[Anonymous]

I am confused. If the other house sold for $740,000, why are you listing your house for 680 K?

[Anonymous]

Put "motivated seller" in the ad and see how much people ask for as a discount.

Do not do this.

$699K seems like the play here. Come back and update us with what you decide!

[Anonymous]

When we were in a similar scenario 2 years ago, our agent called us and told us we should increase our price. We did and the house sold in a bidding war, so we were glad that we started high.

Two years ago, however, was a seller's market. I don't know anything about the current market but houses seem to be staying on the market longer now. Maybe if you keep your house priced low, you'll sell fast.

[Anonymous]

Anonymous wrote:When we were in a similar scenario 2 years ago, our agent called us and told us we should increase our price. We did and the house sold in a bidding war, so we were glad that we started high.

Two years ago, however, was a seller's market. I don't know anything about the current market but houses seem to be staying on the market longer now. Maybe if you keep your house priced low, you'll sell fast.

Yeah, it seems like you want a quick sale. So, price for one. $699 seems like a good option

[Anonymous]

Anonymous wrote:Your neighbor is going to hate you OP if you list below them because it may end up having a big impact on their listed property.

That may be the truth but that is the way the cookie crumbles.

Oh well.

-
Not the OP

[Anonymous]

In my humble opinion I would list it at $679 based on the neighborhood house that sold in one week.

First I would look at recently sold houses in the neighborhood and discount little bit for fast sale.

[Anonymous]

Anonymous wrote:Your neighbor is going to hate you OP if you list below them because it may end up having a big impact on their listed property.

We are going to be listing 100-200k less than our neighbors. Theirs has been on the market for over a month. We have seen ONE person stop by during their open houses. We will need to sell soon so seeing that they have not received any attention, we have to sell at a loss. They are also using our realtor. As he has not done a good job, we will find someone else. They asked us about him and we gave a good rec. the market must be bad here.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Your neighbor is going to hate you OP if you list below them because it may end up having a big impact on their listed property.

We are going to be listing 100-200k less than our neighbors. Theirs has been on the market for over a month. We have seen ONE person stop by during their open houses. We will need to sell soon so seeing that they have not received any attention, we have to sell at a loss. They are also using our realtor. As he has not done a good job, we will find someone else. They asked us about him and we gave a good rec. the market must be bad here.

It makes me wonder by how much are home prices overvalued in some markets ...