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Reply to "Sold for $1M over asking in Forest Hills"
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[quote=Anonymous][quote=Anonymous]Priced it low because they knew it would draw eyeballs from all price points. Smart. The sellers + agent had a dilemma: the interior is very dated and tired....but its a big house on a big corner lot. So its tough to price it with any accuracy in this market. With a $1m escalation it's clear there was a big bidding war, likely with multiple rounds of back & forth. Personally, I did not imagine this closing at $2.9m. If I had to guess, I would think the sellers are also very (happily) surprised with the outcome. This market is confounding. [/quote] All of this. Also, having been in a similar situation, I bet you the buyers who lost the bidding war were actually relieved. Everyone involved knew it was being bid up over its true value, but whoever "won" was just a little more willing to overpay. But the losers will be glad when they find their house and wind up spending 500k less. This one was nuts.[/quote]
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