Sunday, May 11, 2008

The Price is Right - Driveby Version

Mr. BT cannot drive by a "for sale" sign without stopping to get a flyer. So its usually my job to jump out and get it. As we pull up to the sign, we both take a guess as to the asking price.....

I have gotten pretty good at this game lately, as well as knowing around what range a home will sell for. But every once in a while one will really surprise me.

There have been two or three times in the last year or so where I think a home is at least 50-100k overpriced.....and yet, it sells within 3 weeks of listing. These homes (as well as the ones that are off the market before I get a chance to see them), are the ones that really make me wonder what the future holds for the local market. Conflicting messages abound, especially since numbers of new NODs and foreclosures show no sign of abating.

3 comments:

sacramentia said...

Interesting ... any correlation between the ones that are overpriced sellers? I'm really curious what you're missing?

Buying Time said...

I'm curious too....granted I haven't seen the inside of these places. One was on a cul-du-sac and backing to green space with a pool....but 100k for that?

Husmanen said...

Funny, my wife and I do the same regarding the 'guessing' game. We are mostly surprised by the number still wishing for 2005, rarely do we see one that is below our estimate.