Quote:
Originally Posted by ranchlandsselling
That aren't being sold or even toured. How do people that are short money, negative cash flow, etc. sell these houses that currently people aren't willing to buy when houses in sub $500k range are still selling quite well?
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There're still people upgrading from 500K to 700K just fewer than normal. Price reduction is the means to sell so a 800K house will sell for 750K or perhaps even lower if the seller is desperate enough. This one house in my area was originally listed in Jan this year for 930K and the last listing price was $789K in June or July this year and got sold.
I've seen a few houses originally listed in the 900K+ range and sold with the last listing price $100K or so lower than that.