Quote:
Originally Posted by The Big Chill
The house we looked at over the weekend just sold for a hundred thousand over asking. People are doing crazy things right now.
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Was the ask price realistic though? Ie, did it look like a deal at the list price and have wording in the listing such as (reviewing offers at XPM on X Day), etc.
I'm noticing that given the low inventory and strong demand that realtors are pricing good properties below intrinsic value to try to kick off bidding wars to drive offers that are free of conditions. On the surface it might look like people are paying $100,000 premiums but in reality it's something closer to (But still at a modest premium) what it would go for if priced more traditionally.