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I don't know about other areas but here in NE Raleigh we saw a bit of a stagnation maybe six months ago, then starting about two months ago have seen several 10,000 increases in each home sale which is significant because the price point is under, or was under, $250k. The neighborhood is not particularly good and commute times to RTP are upwards of one hour.
Owners (and agent) got lucky with the reassignment plan
Lesson for agents - don't talk about schools in your listing.
In all seriousness though, it's crazy the amount of people complaining about potential home value drop over in the WCPSS forum. If only they came to CD first
Plus you capture all the people who are doing real estate searches based on price and don't go into the $600Ks.
I've always wondered how much that mattered. I understand the concept/principle, but when I'm searching to buy anything, I'll always search 10-20% above budget price to see if there is anything overpriced which may be able to be negotiated.
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Quote:
Originally Posted by cheapdad00
I've always wondered how much that mattered. I understand the concept/principle, but when I'm searching to buy anything, I'll always search 10-20% above budget price to see if there is anything overpriced which may be able to be negotiated.
It is a common thought, but I think you are typical.
People put me on a short leash on search, but do pretty much what you do.
If someone caps me at $575,000, I always assume they are looking at a higher price range on their own.
If they find a buyer that really wants it, could go as high as $600,000 but no more than that!!!
That's around what I figured. Unless there's something wrong with it and it goes for less, but based on the info we have, my guess is in line with yours.
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