Not sure dumping $1m from the sale into Granny's bank account would help with Medicaid qualification. |
+1. No one wants to deal with sellers who have an unrealistic idea of the value of their house. It just leads to wasted time. |
You're wrong. Many people don't want to deal with those sellers, but not no one. Certainly they've cut down the buying pool, but when inventory is low (and we are at historically low levels of inventory), then you often have buyers who have a short fuse and need to be moved in who will buy as long as there are no major issues. So, if the house has no major issues that an inspector would find, then they an sit on an overpriced house looking for a desparate buyer. |
"Sellers who don't need to sell" is such bullshit. If you didn't want to sell, you wouldn't be listing it (and doing all the work that goes along with that). If you talk to a few local agents, you'll get a very good idea of what your house is worth -- your house isn't some tech startup that can't be easily valued. If you're not going to list at that price (or at least be open to selling at that price if you choose to list higher), stop wasting everyone's time! |
MYOB. You do not have to understand everything. |
I'm also interested in the agents who agree to take on these listings. Why would you waste time having open houses where almost no one shows up because the house is overpriced and has been sitting for months? |
Because most realtors are unethical and lie to sellers to get the listing. Realtors ask what the seller is hoping to get, then magically the realtor agrees. Sellers tend to go with whoever tells them they can get their price. It's so stupid, because no realtor can forcibly extract a certain price from a buyer. Then when it doesn't sell, the realtor assumes that the seller will lower their list price or take a lower offer. So the realtor is hedging their bets that they'll get a commission either way. |
These are my neighbors. They bought their house 20 years ago, they refied their remaining mortgage @ 2.8% a few years back. They are sitting on a mountain of equity and a small PITI.
They don't have to sell or move. They will not price cut, they will take it off market in October. |
They are not wasting your time, you can scroll past their house on Redfin. Sounds like you like their house but can't afford it. |
Or it has a renter that is not cooperative with showing the house, or the price is too high. People think they can make more money off of real estate than the market supports, sometimes. We have done very well by bidding on houses (that are maintained well) that have been sitting, sometimes for years. |
Sorry nobody wanted to buy your house. |
They want a certain price and are willing to wait. How much of your time is this strategy taking up? Move on to another listing. |
Nailed it. |
Realtors also use open houses to find new clients and direct them to other homes in their portfolio. |
A. I think this is dramatically less true as the price of the house increases, and Washington Monthly home sale data backs me up on this. B. I think to the extent that it’s true, it’s true of first-time buyers who are straining their budgets, stressed about whether they made a good choice, etc. That’s not all of us. |