Reply to s/o How far will prices drop in MoCO?

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Reply to "s/o How far will prices drop in MoCO?"

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[quote=Anonymous]I would trust HUD data over realtor data any day of the week. Realtor Associations work hard to hype up the markets. Time to buy, buy, buy or list, list, list, list. Its very scammy in how many realtors pull their data with all the DOM delisting tricks. I get realtor flyers all the time with sold at list price. Well, the sold at list price was after the shortest DOM window and the new price was a big drop preceded by the house being on the market for 1-2 previous seasons with multiple price drops.

Realtors won't show you 2007 or 2008 numbers, they want you to see the 2010 data and think wow the market is growing, I better get in now. The other scammy thing that seems to be happening a lot in Potomac is that realtors are encouraging or not informing sellers that the prices are not what they paid 15 years ago. The houses are either sitting and being forced to price drop and chase the market or if they do get lucky and snag an uninformed the buyer then the house doesn't appraise. In Potomac, realtors will tell sellers anything they want to hear to get the listing contract. [/quote]

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