Thats a good point, and I wonder as I look at listing prices, with so few sales taking place…
Dose anyone really know what the market values are?
What IS considered below market value in a falling market. I don’t consider anything below market value until the prices come in line with rents and income, but then again there are plenty of uneducated people who will pay well above this floor.
The RE and sellers try to use Comps to justify to the uneducated that what they are buying is “worth it”.
but with little recent sales history the prices are still way way way up there.
It a tough spot I would imagine. the sellers want to sell their house but they want to get as much money as possible. Price it too low and you get a quick sale and less money…
price it to high and you get no sale and less money later…
price it just right and you….get the lessor of a bad situation.
It is all about the starting prices. and in this market I think that some agents are using a dart board and blindfold tto pick a good starting prices.
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