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Can someone explain to me what the phenomenon is that would make a house for sale do this??
10/14/2009 Price change $194,900
09/18/2009 Price change $184,900
07/25/2009 Price change $194,900
06/28/2009 Price change $199,900
05/24/2009 Price change $204,900
I have seen some other homes for sale do this. I've never seen a homes price decrease and then increase like that. I did read in the description that a concrete driveway had just been completed, I suppose that would account for it, but $10K ??
Last edited by Beretta; 11-01-2009 at 10:08 AM..
Reason: moved from city forum in TN
It may be as simple as the seller has raised their asking price. The seller may have the reasoning that they want to cover the cost of improvements, fix ups, etc. - maybe to give them more room to cover some closing expenses. Maybe they just feel they had it priced too low. Who knows.
As you know, no seller has the obligation to never increase an asking price.
BTW - It's not uncommon for a property to have a final sale price that is higher than the list (aking price). This usually occurs when a buyer wants the consessions and/or closing costs. Such costs are added to the sales price.
...BTW - It's not uncommon for a property to have a final sale price that is higher than the list (aking price). This usually occurs when a buyer wants the consessions and/or closing costs. Such costs are added to the sales price.
Or, like many bank owned here, to have multiple offers that drive the final price over asking.
Also builders will put a home in the MLS and as they build the house they can start adding upgrades and adjust the price upward. Then as the house sits completed the may then maybe lower the price.
Or you could have a crazy seller who things his his house is appreciating every few months. We talked to a guy a few years back who wanted to add $2400 to the list price every month since that was his payment and he thought it was going up that much. I never did figure out his logic and we passed on listing the house.
Well I was just wondering why I've seen this a few times on other properties. I received all good answers from you folks I guess the only way to know what this particular seller is doing is to ask the agent who listed it. I just thought it odd, especially since they've been trying to sell the house since May.
I've seen this happen when a home is listed as a short sale. Until an offer is made and submitted to the bank, there is really no way of knowing what the bank will accept. Once an offer is submitted, and after several months of waiting, everyone finally knows what the bank's bottom line is. Problem is the buyer may have gotten tired of waiting and walked away. The home is then listed as a bank approved short sale at a higher price.
It may be as simple as they don't know what they are doing....
Imagine that.
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