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Reply to "Are sellers cutting prices in your area?"
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[quote=Anonymous][quote] Anonymous wrote: This sounds like someone who bought, did major renovations, and now flipping it. ?? They can probably afford to come down more. PP here. That would make sense, but I saw the pics from the 2021 sale and it doesn't look like they did any updates. I'm seeing some price reductions but the sellers are already starting from such a high number. Even if they cut the price more and sell for $1.6M, then that's double what they paid 4 years ago. [b]This is what I'm seeing in the RE markets that I'm following [/b]- the closing prices are still 75% or more than the value of the home just 4-5 years ago. I guess my point is how much of a value is a $100-300K list price cut if the closing price is still 75-100% more than the sellers paid 4 or 5 years ago? What RE markets are you following?[/quote]
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