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I seem to be in one. Houses between 300k-600k are sitting on the market be it, new or older homes. Homes in the 1Million and above are selling. My realtor told me about a woman that wanted to live in a certain development, went to a realtor that I know only to find out nothing was listed in this particular developement. The realtor went door to door asking if they'd be interested in selling their home. There was one home where the wife answered the door said, "yes, for 3 Million". The buyer agreed and it was a cash deal. The house itself was probably worth 2M to 2.5M - go figure?
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I believe it..but it was probably in a sellers' market, but not impossible in a buyers' market.
One across the waterway from me sold for 2.7 million "not on the water".. just a few months back. Sometimes, buyers get the notion if a home is a really great deal--priced way below market..that something is wrong with it, and they shop on, then will buy at comp or just below.However..it is only because the home is a distress sale, but can be stigmatized as a white elephant. Then there are buyers that say I can't believe this hasn't sold - what a great buy and snap it up. |
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