i dont think this is just ncc. Well there’s a lot of people with more than one house that they bought at a pretty good price. My theory is they don’t need to sell and either
(1) they arent planning to sell
Or
(2) they are selling not because they need to, but rather putting it out there to see how high a price they can fetch, knowing it is a sellers market. if someone came along and offered them a ridiculous price, they would let it go. Hence why some listings are for an unusually high price and out there for many months.
I see a few townhomes in my favorite crest Delmar now listing a 3/3 for $700k+… At peek, these were around $620k. So I’d say people are just putting a price up there to see what sticks.
I might do the same over the summertime for one my rentals if I can get close to 100% appreciation. Currently, I am not that far off, so I will see how it works out. Cash flow is good and there no loan on the place. So I wouldn’t mind just putting it out there and let it sit until someone bites.
So much for that speculation among some that once Qualcomm has a massive layoffs we will see a big price correction. Lol.
