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Boise is a place that I always wanted to move to but I can’t because it is too expensive for me. Thank you to whoever is to blame. These now unaffordable housing prices on the entire West Coast is absolutely disgusting and despicable. Whoever is to blame I hope you’re happy.
Boise got expensive because it's a wonderful place to live and lots of people moved there. I have a lot of sympathy for natives that have been priced out, but it's highly ironic for you to complain about Boise housing prices as an outsider because you desire to move there
I do not blame a seller for trying to sell for maximum profit. Why should the sell for less to someone who might just flip it and take the profit instead? We have seen a lot of properties reducing their asking price because too many agents will take a listing at any price using that listing to generate other buyers who call on it.
I just submitted an offer for a repeat client of mine for a nice home in Star that was listed April 15, 2022 for $719,000 and has already had three price reductions down to $694,900. Our offer was a bit less still. There are lots of statistics showing if a seller starts too high, they end up typically reducing the price to below what it would have sold for originally since people start to wonder what is wrong with it if the price is dropping and no one else is buying it.
I do not blame a seller for trying to sell for maximum profit. Why should the sell for less to someone who might just flip it and take the profit instead? We have seen a lot of properties reducing their asking price because too many agents will take a listing at any price using that listing to generate other buyers who call on it.
I just submitted an offer for a repeat client of mine for a nice home in Star that was listed April 15, 2022 for $719,000 and has already had three price reductions down to $694,900. Our offer was a bit less still. There are lots of statistics showing if a seller starts too high, they end up typically reducing the price to below what it would have sold for originally since people start to wonder what is wrong with it if the price is dropping and no one else is buying it.
Our house sold for 500k in Boise. Realtor wanted to list it at 435. We said 485. It only took one good offer a couple came in with 15k over. We loved our realtor but thought he was insane for wanting to put it up so low. Not a fan of the bidding war strategy.
Our house sold for 500k in Boise. Realtor wanted to list it at 435. We said 485. It only took one good offer a couple came in with 15k over. We loved our realtor but thought he was insane for wanting to put it up so low. Not a fan of the bidding war strategy.
That is like here we can get as many has 20+ bids over a weekend.
Our house sold for 500k in Boise. Realtor wanted to list it at 435. We said 485. It only took one good offer a couple came in with 15k over. We loved our realtor but thought he was insane for wanting to put it up so low. Not a fan of the bidding war strategy.
How was he so off in price? Didn't he do a market analysis to see what similar homes were selling for? It is a shame that you and the buyer both had a better idea of the market than he appeared to.
How was he so off in price? Didn't he do a market analysis to see what similar homes were selling for? It is a shame that you and the buyer both had a better idea of the market than he appeared to.
There was a lack of similar houses in our zone. I think we were a bit high and probably just found the right buyer.
How was he so off in price? Didn't he do a market analysis to see what similar homes were selling for? It is a shame that you and the buyer both had a better idea of the market than he appeared to.
I watch a bunch of those rehab shows and flipping shows on HGTV, and different ones do have different strategies for setting the listing price. Flip or Flop lists at the top of what they think they can get. I've only seen a little more than one season, but they often have their homes on the market for a month or two.
Unsellable Houses deliberately list tens of thousands under. Their thinking is that it will bring more people to the open house, and some of those who set their limit lower might see a great house and decide to increase their budget. UH almost always sell theirs within a week or two, and they often have bidding wars where they get way more than what they think it will sell for. However, I don't think I've even seen UH listing for $50K less than similar comps.
I watch a bunch of those rehab shows and flipping shows on HGTV, and different ones do have different strategies for setting the listing price. Flip or Flop lists at the top of what they think they can get. I've only seen a little more than one season, but they often have their homes on the market for a month or two.
Unsellable Houses deliberately list tens of thousands under. Their thinking is that it will bring more people to the open house, and some of those who set their limit lower might see a great house and decide to increase their budget. UH almost always sell theirs within a week or two, and they often have bidding wars where they get way more than what they think it will sell for. However, I don't think I've even seen UH listing for $50K less than similar comps.
Lol those "reality" shows are scripted and fake. They're about as real as a soap opera.
How was he so off in price? Didn't he do a market analysis to see what similar homes were selling for? It is a shame that you and the buyer both had a better idea of the market than he appeared to.
He wasn’t off. It’s a very effective strategy with this hot a market to list at a lower price bracket to stimulate more interest, and thus gather a larger number of offers. It’s common to see fewer people even look at a listing when it’s deemed too high, but with a lower listing price you attract more people who actually end up offering more money because they hear they are up against more competition. You want as many people through the door as possible, and a slightly lower price generates exponentially more interest. It’s simple, and not at all surprisingly effective, psychology. It’s very likely that they would’ve gotten more money if they had listened to their agent.
When I was looking at buying in Boise last year I was up against dozens of other offers with the price range I was looking at. I increased my price range and ended up against next to no competition, and ended up getting more property for the price I ended up paying compared to other properties with a lower list price because I didn’t have the competition to drive the price up. It’s ironic, but in a market like this sometimes increasing your search range can actually get you a better deal.
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Wow!
