2023 Real Estate Observations (Duxbury, Westwood: urban, service, family)

[matrix5k]

Originally Posted by msRB311

So a list price for a tiny 600k east Boston condo is below market value ? A home that hasn't been updated in norwell in decades that is 4 bedrooms is worth more than its 1M list price ? You come on

Market value is whatever the buyers are willing to pay, think of it as an item you list for auction on eBay. You're not going to list a $200 item for $200, you're going to start the auction at a lower price. The land is more important than the house itself, that's why you see crummy houses selling for a lot.

[AtkinsonDan]

Originally Posted by MikePRU

Some people just get SO locked on to what the list price is. C'mon guys! Agents are intentionally putting them below the price they think the house will sell at. Don't get so concerned about the list price.

Yes, list price has no real correlation to market value. Some sellers list low because they believe a resultant bidding war will get them more money. Other sellers list high because they have an emotional attachment to the house and believe everyone else will too. The bottom line is the market value of property or any object for that matter is simply whatever someone else is willing to pay. Some people here keep over-analyzing the sales.

[massnative71]

Originally Posted by matrix5k

Sounds like you don't understand supply and demand, this is econ 101. If 30 people bid on a house then how is someone supposed to buy it without "overpaying"? Are all 30 buyers supposed to offer list price and not a dollar more? What about the cash buyers? Are they irresponsible too? If you're selling a house and someone offers you 100k over list, are you supposed to tell them "sorry that's irresponsible, I'm only going to sell for list price". Of course you would take the offer.

What's happening now is completely different from what happened in the 2000s. People actually have a lot of money now.

Not sure what your point is. Of course I understand supply and demand.


These people bidding $100K over better hope that the "supply" does not take off, for one.



And to answer your bolded question, I would accept it from a private buyer intending to live there. Not from an investor though (as these cash buyers often are).

[matrix5k]

Originally Posted by massnative71

Not sure what your point is. Of course I understand supply and demand.


These people bidding $100K over better hope that the "supply" does not take off, for one.



And to answer your bolded question, I would accept it from a private buyer intending to live there. Not from an investor though (as these cash buyers often are).

You apparently don't know what anyone's point is. Accepting 100k from a private buyer is no different than accepting 100k from an investor. How would you even know if a bidder is an investor? Most of the houses posted here are from private buyers. No one is buying a 1-5mil SFH to rent it out.

And once again list price is irrelevant.

[matrix5k]

Originally Posted by AtkinsonDan

Yes, list price has no real correlation to market value. Some sellers list low because they believe a resultant bidding war will get them more money. Other sellers list high because they have an emotional attachment to the house and believe everyone else will too. The bottom line is the market value of property or any object for that matter is simply whatever someone else is willing to pay. Some people here keep over-analyzing the sales.

Thank you thank you, finally someone else gets it.

[massnative71]

Originally Posted by matrix5k

You apparently don't know what anyone's point is.

Nah only yours is where I get confused. It's like you are only here to be argumentative.

Originally Posted by matrix5k

Accepting 100k from a private buyer is no different than accepting 100k from an investor. How would you even know if a bidder is an investor?

I consider it an ethical responsible to not do business with investors. Most will tell you right off, but if not there are plenty ways to screen them.

[msRB311]

Originally Posted by matrix5k

You apparently don't know what anyone's point is. Accepting 100k from a private buyer is no different than accepting 100k from an investor. How would you even know if a bidder is an investor? Most of the houses posted here are from private buyers. No one is buying a 1-5mil SFH to rent it out.

how about that 100k could have gone to many other things but instead it went to a house that was already expensive. If you don't think 800-1M (or more) is a lot (and I don't care if it's easily affordable for 5% of people in the world) and then add on another 100k to that for a place to live then I don't know what to tell you.

[matrix5k]

Originally Posted by msRB311

how about that 100k could have gone to many other things but instead it went to a house that was already expensive. If you don't think 800-1M (or more) is a lot (and I don't care if it's easily affordable for 5% of people in the world) and then add on another 100k to that for a place to live then I don't know what to tell you.

So if you have 30 people bid on a 800k house do you expect all 30 to offer 800k and not a dollar more? I don't understand why you guys think homes should not sell over list price.

[massnative71]

Originally Posted by matrix5k

So if you have 30 people bid on a 800k house do you expect all 30 to offer 800k and not a dollar more? I don't understand why you guys think homes should not sell over list price.

Two reasons to justify offering a lot over list price.


1. List price was set artificially low to attract bidders.


2. Desperation.





I can't think of many more.

[UNC4Me]

Originally Posted by msRB311

how about that 100k could have gone to many other things but instead it went to a house that was already expensive. If you don't think 800-1M (or more) is a lot (and I don't care if it's easily affordable for 5% of people in the world) and then add on another 100k to that for a place to live then I don't know what to tell you.

Whether or not you consider it expensive doesn’t matter. Whether or not that 100k is a deal breaker to you is meaningless. What matters is what potential buyers think. If they perceive value at 100k over ask, then they’ll make an offer. And by value I don’t mean solely the value of the house/land. Value to a buyer includes all sorts of things like school assignments, proximity to amenities, commute time/ease, close to family etc etc. Their perceived value may be under, at or above asking price. Up to them to decide.