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Real Estate
Reply to "Are sellers cutting prices in your area?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I talked to a realtor friend about this recently. Her comment was that overpriced houses will sit and/or drop their prices, but those that are priced accordingly are under contract within days and often over the list price. this is in Rockville. [/quote] But how do sellers know the true price to list at though? Aren't sellers looking at most recent sell prices? [/quote] Most recent sell price can be last 2-3 months and it's a declining market. Issue is bigger when selers are looking at last 1-2 years of data in declining market. [/quote] This is the most painful part for sellers. The house next to you may be the same exact copy same updates etc. If it sold at $700k last year, you are unlikely to accept less than $700k if you decide to sell this year. And the new neighbors also are hoping yours sell for $700k or higher. [/quote]
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