Quote:
Originally Posted by TrudyM
OK- I know prices are what the market will bear but really. 
When I look at a house that is preowned and compare the listing price with the last sold at price (listed on Zillow) a lot of the listings were bought within the last two years and are listed for 50 to 100 thousand over what they paid. And I recognize quite a few of them from when I was looking at rentals a year ago. I think there are some real estate speculators at work here. I understand 20 thou, real estate commission and then a little profit but when a house sold new construction for 60% of the current asking I think that the speculation is out of hand.
Do you think it is a bubble that will burst or level out. I mean the number of preowned on the market both VLS, MLS and buy owner as a % of total units built in the villages seems high to me. I know they are selling but how much do you think the hype of the sales people "grab it now or it will be gone" is influencing things. |
I guess if you are an owner, prices do not seem to be out of hand but if you were waiting to buy perhaps they seem speculative. Remember it is the monthly payment that drives sales and interest rates are still at historic 50 year lows and stick market has recovered.