Home › Forums › Closed Forums › Properties or Areas › Sale over listed range…SDR and sdr???
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CA renter.
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January 16, 2009 at 2:27 AM #14844January 16, 2009 at 7:47 AM #329757
sdrealtor
Participantwe need more information
January 16, 2009 at 7:47 AM #330096Participantwe need more information
January 16, 2009 at 7:47 AM #330169Participantwe need more information
January 16, 2009 at 7:47 AM #330197Participantwe need more information
January 16, 2009 at 7:47 AM #330280Participantwe need more information
January 16, 2009 at 9:01 AM #329802urbanrealtor
ParticipantDitto.
Need more info.Here are the only versions of that I have seen.
Your example might be different but this is my experience(s).I have seen a bunch of places go for more than asking or more than upper end of the range recently.
Usually its an reo that was deliberately under priced by the bank or a short that had a super-low sticker price to attract buyers (and then had a bidding war).
During the boom this was usually a sign of either irrational buyer exuberance or straw buyers pretending to be irrationally exuberant.
The straw buyers buy at 100% (or as close as possible) for over asking and get a fat rebate back and then never make a payment. The rebate is the bounty. These days, most straw-buyer crews are mobbed up (according to my friend working with the DOJ).
January 16, 2009 at 9:01 AM #330142ParticipantDitto.
Need more info.Here are the only versions of that I have seen.
Your example might be different but this is my experience(s).I have seen a bunch of places go for more than asking or more than upper end of the range recently.
Usually its an reo that was deliberately under priced by the bank or a short that had a super-low sticker price to attract buyers (and then had a bidding war).
During the boom this was usually a sign of either irrational buyer exuberance or straw buyers pretending to be irrationally exuberant.
The straw buyers buy at 100% (or as close as possible) for over asking and get a fat rebate back and then never make a payment. The rebate is the bounty. These days, most straw-buyer crews are mobbed up (according to my friend working with the DOJ).
January 16, 2009 at 9:01 AM #330214ParticipantDitto.
Need more info.Here are the only versions of that I have seen.
Your example might be different but this is my experience(s).I have seen a bunch of places go for more than asking or more than upper end of the range recently.
Usually its an reo that was deliberately under priced by the bank or a short that had a super-low sticker price to attract buyers (and then had a bidding war).
During the boom this was usually a sign of either irrational buyer exuberance or straw buyers pretending to be irrationally exuberant.
The straw buyers buy at 100% (or as close as possible) for over asking and get a fat rebate back and then never make a payment. The rebate is the bounty. These days, most straw-buyer crews are mobbed up (according to my friend working with the DOJ).
January 16, 2009 at 9:01 AM #330242ParticipantDitto.
Need more info.Here are the only versions of that I have seen.
Your example might be different but this is my experience(s).I have seen a bunch of places go for more than asking or more than upper end of the range recently.
Usually its an reo that was deliberately under priced by the bank or a short that had a super-low sticker price to attract buyers (and then had a bidding war).
During the boom this was usually a sign of either irrational buyer exuberance or straw buyers pretending to be irrationally exuberant.
The straw buyers buy at 100% (or as close as possible) for over asking and get a fat rebate back and then never make a payment. The rebate is the bounty. These days, most straw-buyer crews are mobbed up (according to my friend working with the DOJ).
January 16, 2009 at 9:01 AM #330325ParticipantDitto.
Need more info.Here are the only versions of that I have seen.
Your example might be different but this is my experience(s).I have seen a bunch of places go for more than asking or more than upper end of the range recently.
Usually its an reo that was deliberately under priced by the bank or a short that had a super-low sticker price to attract buyers (and then had a bidding war).
During the boom this was usually a sign of either irrational buyer exuberance or straw buyers pretending to be irrationally exuberant.
The straw buyers buy at 100% (or as close as possible) for over asking and get a fat rebate back and then never make a payment. The rebate is the bounty. These days, most straw-buyer crews are mobbed up (according to my friend working with the DOJ).
January 16, 2009 at 2:49 PM #330063CA renter
ParticipantIf you look at the listing history, you’ll see that it’s been listed for many, many months. They couldn’t find a buyer for all that time, lowered the price multiple times (to $550K-$599K in the beginning of October), and it sat all this time until just recently when it sold for over $600K.
Maybe other buyers aren’t thinking like I do, but range pricing means the lowest price is the price. I would offer lower than that.
A legitimate sale might see a price in that range, but for over it? Especially when it’s been on the market that long? I just don’t get it.
January 16, 2009 at 2:49 PM #330401ParticipantIf you look at the listing history, you’ll see that it’s been listed for many, many months. They couldn’t find a buyer for all that time, lowered the price multiple times (to $550K-$599K in the beginning of October), and it sat all this time until just recently when it sold for over $600K.
Maybe other buyers aren’t thinking like I do, but range pricing means the lowest price is the price. I would offer lower than that.
A legitimate sale might see a price in that range, but for over it? Especially when it’s been on the market that long? I just don’t get it.
January 16, 2009 at 2:49 PM #330474ParticipantIf you look at the listing history, you’ll see that it’s been listed for many, many months. They couldn’t find a buyer for all that time, lowered the price multiple times (to $550K-$599K in the beginning of October), and it sat all this time until just recently when it sold for over $600K.
Maybe other buyers aren’t thinking like I do, but range pricing means the lowest price is the price. I would offer lower than that.
A legitimate sale might see a price in that range, but for over it? Especially when it’s been on the market that long? I just don’t get it.
January 16, 2009 at 2:49 PM #330502ParticipantIf you look at the listing history, you’ll see that it’s been listed for many, many months. They couldn’t find a buyer for all that time, lowered the price multiple times (to $550K-$599K in the beginning of October), and it sat all this time until just recently when it sold for over $600K.
Maybe other buyers aren’t thinking like I do, but range pricing means the lowest price is the price. I would offer lower than that.
A legitimate sale might see a price in that range, but for over it? Especially when it’s been on the market that long? I just don’t get it.
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