Reply to Prices dropping in MoCo???

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Reply to "Prices dropping in MoCo???"

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[quote=Anonymous]In MoCo if my neighborhood is an example we had lot of old timers who had unrenovated homes who were snowbirds, delaying downsiding or plain old estate sales.

With home prices rising like crazy between Spring 2020 and 2025 lots held off selling as going up in value so much each month.

I had three sales my block all three were empty nestors living in houses way larger than they needed and older. Two sold as is as once home prices flattened out in late 2024 they decided why put money in.

Unlike 2020-2023 when people would pour 50k to 100K into a home to get it ready for sale and get top dollar. Plus back then if project delayed sale for a year who cared, home price were going up 10K a month at peak on my block.

So now they sell as is and owners happy to get out even if 2-5 percent below peak. Hardly call it a market crash, just people who delayed selling to downsize or go to nursing home as why sell and downsize when prices are flying up. My own home went up $500K in last five years. Thats $8,300 a month gain. My older neighbors just said why downsize to save money as I am losing out on the $8,300 a month gain. Now that home prices are flat they just see expsnse of owning big home and are selling. But even then none of people like me are selling. It was nearly all 65-85 year olds selling this year near me.    [/quote]

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