Quote:
Originally Posted by Marmaduke
Exactly! We have homes on our street and in our neighborhood that are already listed too low, and are dropping by 40 grand at the influence of their realtors.
The skuttlebutt from neighbors
mock them as being crazy for expecting to find a buyer "at that price."
Granted, it's a Buyers Market, but people are panicing and dropping the price, (instead of by $1000), by 35 and 40 grand, hurting our values, maybe for years to come.
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"Hurting values"?
Or just the market readjusting to some ridiculously high prices that were an anomaly in the first place?
Case in point: our home, if one went by the selling prices of similar homes in this and adjacent Villages, appreciated in value something like $130,000 in our first two months here. Good sales tactics and people in a virtual panic to get in here while the getting was good. But I didn't congratulate myself on making some kind of incredibly good deal because we got in under the wire before prices went berserk.
We've been in markets like that before, and if there is one thing we learned it is timing rather than value that is important. Knowing how to ride the roller coaster is what matters.