Adjusting for Bottom Feeder

(January 23, 2017)

Some detached houses are raising their prices by $50,000 or so to compensate for low ball offers.
So a house that was previously priced at $1.250M might re-price at $1.30M.

Bottom feeder buyers are looking for a “discount”. They will only buy if the price is below list. It doesn’t matter what list price is, the bottom feeder will not pay list price.

Are deals out there?
Yes there are currently a few “must sell” properties out there.
But it mostly stuff that is not “choice”.

Are the bottom feeders filling up their shopping bags with discounted houses?
I haven’t seen it.

Are there opportunities out there?
Yes.

In a hot market, a sharp / low price can do a great job in getting multiple offers and a high sale price.
That same pricing can invite offers that are too low in a market transitioning from hot to level.

blog comments powered by Disqus