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You seemed to imply that I assumed the triangle *would* lose 90% of value. I just inferred that it *could*. The likelihood, in my humble opinion, is 30-50% in the triangle, and 60-80% in the more speculative markets.
I notice she (the second poster) entirely dodged the question. The first one talks about a price drop and then sell within 1-2 of the price AFTER the drop, and the second person only mentions "her listings selling within 1% of the asking price". Which asking price? the Original or the Adjusted....
Great catch RBG! You're absolutely right. My critical thinking didn't pick up on it the first time around. CH realtors are obsessed with the within 1% of asking price thing. They're totally hung up on it. They completely discourage anyone offering anything less let's say 97% by telling them that they are "lowballing" and will "insult" the sellers. From personal experience, neither is true. Furthermore, many sales may look like they were sold for over asking when actually closing costs were rolled in. Ugh. Numbers.
And a direct quote attributed to Stacey Anfindsen of Greater Chapel Hill Association of REALTORS:
"Instead of falling, list prices are rising. Comparing the average list prices in January and October of this year yields some amazing numbers. The average list price has increased 14% in Chapel Hill, 27% in Raleigh, 24% in Cary and 15% in Durham."
Wow! And all the RE agents in this thread were saying the market in the triangle has not seen a "boom" so won't see a "bust". And these same people vehemently denied that a 20% increase occurred anywhere in the triangle.
I wonder what Vicki has to say about the above . And below is what her position has been on house prices
I have a question and maybe I am looking into this wrong but isn't list price a lot different than sales price? I could list my house at 250k but if I sell it at 200k thats a whole different number so isn't it safe to say that list prices mean nothing when it comes to things? Maybe? Somebody?
You are right, tluv00. People can ASK any price they want for their home.
The market determines what the house will sell for. Real Estate Agents and Appriasers are trained to come up with an educated guess but the market determines the price.
And the numbers can be taken out of context in any way that people want so they can make their point since the majority of us are educated to know when others less educated are simply running their mouths!!!
.........
And the numbers can be taken out of context in any way that people want so they can make their point since the majority of us are educated to know when others less educated are simply running their mouths!!!
Vicki
At least we are not fudging the numbers and reality to play on peoples fears so that we can make a living out of it.
Hmmm. This thread is beginning to sound like stock market analysis. Prices go up and down for no good reason, only because people "believe" in rumours or have fears or "perceptions" ... Unfortunately, it IS about perception. Not about reality.
I know what MY house is worth to me. And I know what price I am willing to sell it for ( about 10% less than I paid for it ). It doesn't matter to me what the market does ( of course I don't have to sell, so I can afford to wait until it does sell ). Even if I lose money on this one, that's okay, because I have already made considerable profits on other houses over the years. No one owes me a profit.
And when I buy a place in the Raleigh area it will be based on what it is worth to me, and what makes sense to me.
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