Home Prices

[Bullitt]

Jack the prices up before going up for sale so it looks like the agents involved have brokered a major deal. This is also explained by the endowment effect. People tend to value items that they own more highly than they would if the item did not belong to them.

Epic, in your case, check other websites that give price estimates and make comparisons. Unless there's gold buried somewhere on that property, something looks wrong there.

 

[Skooby]

I feel like I'm going to be a forever renter.

46 and no home. I live in the DC region so homes are always expensive.

Whenever I'm retired I figure I'll move somewhere else that has a lower cost of living.

 

[Epic]

Epic, in your case, check other websites that give price estimates and make comparisons. Unless there's gold buried somewhere on that property, something looks wrong there.

Yeah, I hear ya. I'd say I see the price get jacked like that right before listing on about 7 out of 10 properties that I look at. It's most likely just a trend to get more money, but I just want to buy a house for a fair price, and not pretend that I'm on Pawn Stars or American Pickers having to haggle on a price when we all know what the fair market value is. :sigh:
I think I can work it so I can make it a Cash Buy also, so that should work in my favor.
I just need a larger (more land) place so I can have a shop, but property taxes where I'm at are high (Md. suburbs) at 1%. I can get 3 acres with a small rancher in WV, and only pay .5% (half) in property tax.
I'll find it sooner or later...... No rush..... Just gonna keep looking.

 

[nasa1974]

In my area I know the homes are going higher than what you might see on Zillow or the county auditor web page. The funny thing is there are some homes that are being offered 5-10% more than the listed price because a couple of people are bidding on it.