Re:Tech bubbles are bursting all over the place
by ploika on Friday May 13, 2022 @02:55PM
(#31371263)
"Price to Entice" is a very real thing where I live. It's basically a way of getting your listing seen by more people, and increasing the chances of a bidding war pushing up the final sales price.
Re:Tech bubbles are bursting all over the place
by mancerayder on Friday May 13, 2022 @02:49PM
(#31371205)
They set the price well under market in order to generate interest and visits. Next, in the same time interval multiple people bid, and you get a bidding war. Alternatively, price it at what you want it, and let it sit however long it takes. For hot markets, the former is what is done, in the US at least
Re:Tech bubbles are bursting all over the place
by sokoloff on Friday May 13, 2022 @08:17PM
(#31373887)
If you think the house will sell for $1.01M, you should absolutely list it just under $1M (so it hits the screens of shoppers who are only looking at $700K-1M houses).
Re:Tech bubbles are bursting all over the place
by mancerayder on Friday May 13, 2022 @09:35PM
(#31374313)
And you get more simultaneous bids. If one prices it high for the long term and prefers patience, there'll be sporadic bids and eventually low-balls.
When we sold our house the broker put it at a fair price. Then along came a couple that’s been outbid a number of times and offered 30% over within 24 hours of listing.
Was the home underpriced? Maybe, but the housing market is such that it doesn’t have to appeal to hundreds of people. Just one.
Looking at the people going through the home most of them were using flyhomes.com (they operate as sort of a “we will pay cash for the house and then you pay us back”) and probably had no intention of living there.