Selling a home and pricing.

[RiverRat1]

You won’t know if you don’t ask. Congratulations.
Is your area getting all-cash offers from people fleeing Cali?

I met a guy from Missoula, MT when elk hunting a couple weeks ago. We got to talking and he said he’s seen more Texas license plates there. When he asked one person why they relocated to Missoula, he said “too many **** -up Californians moving into Texas”.

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I really didn't want to sell but we sort of had to. Homesteading our ranch house.

But yes, most are coming from Cali. Most our offers were being financed, some with a lot down. Our broker said it's crazy with cali offers rolling in, some buying without even coming here to see the house they buy. I didn't ask but the house next door was bought by two women (assume what you want lol).

[Huntindad]

Update -
So we decided to up our listing price 10% Our house was just like the one next door except she had a pool. We listed at 329k on Thursday and got 345k on Sat.

Pretty sure if we listed at $310 we would have not been offered that high. Seems like max offers in our area are always 15-20k over asking (no more).

Now the deal hasn't closed but we did get two offers at 345k.

IMO if you plan to sell try listing high..very high.. I'd probably try even higher if I knew what I know now. If I started at 340k or even 345k IMO worse case would be an offer at asking price.

Tim, you done good. I may be going that route in March.

[91cavgt]

Yep. They bought our house a month ago for 30% more than what we paid for it only a year ago. No inspection and besides a quick walk through over the phone, they never looked at the house at all.

So on August 30th, my wife and I sold our house for $288k to Zillow. Right after this, Zillow stopped buying houses. They said the reason was they had too many houses and needed to focus on those they already had, but a week after they stopped buying houses they laid off 25% of their employees. If business is good, you don’t lay off a quarter of your workforce! You do stop buying houses and lay off 1/4 of your work force if you see a downturn coming. In October, Zillow sold our old house for $274k for a net loss of $14k!!


My wife and I have been looking at property and houses closely for the last couple of months for our next purchase. We are starting to see more price reductions and longer times on the market. All of this seems to point towards the housing market now being past its peak, at least in our area. Smaller markets tend to lag behind the larger markets so some areas are still going crazy.

[BlackoutRam2500]

^^^^ definitely going to be interesting to see what effect Zillow pulling out has on the market.

Also, California passed new regulations forbidding any new residential zoning. They are trying to undo years of communities rigging their zoning restrictions to keep multi family units out, thus driving up prices.... Palo Alto comes to mind. That will take years to sort out but it should over time ease their housing shortages.

Our house value has increased a ton. There is nothing for sale in my neighborhood and about 25 houses under construction (all custom). Montana would be an option if the winters weren't so brutal and they had an ocean near by. Lol

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[bcmuzzy]

The bad part of all this crazy pricing is that TEXAS is getting a whole bunch of libtards in the process. Where they are moving from, these prices seem like a deal.


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Sure seems like nobody minds taking money from libtards. Until one day when all of a sudden there running this state. Thank you, Governor Perry for courting and giving tax incentives for companies from California to move here. [emoji848]


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[Big pig]

In my area, the reasonably priced homes don’t make it a day. Those that are over priced by 10% or so make it 2-3 days, the ones that are extremely overpriced sit there until the price is lowered to a more reasonable number.

I overpriced mine cause I wasn’t in a hurry and I went with agent’s suggestion
We had already moved to the new house

It had multiple showings before I lowered the price to my original idea of a price
It then Sold quickly. So I guess it depends.

FWIW it was an ugly duckling, but on a cul-de-sac in a good neighborhood.

[Bill M]

My wife performs a market analysis then advises pricing based on that. Even in this market she recommends not overpricing. It is amazing the prices that are being paid above market. FTR, she is about the client first, not her commission. Those that have dealt with her know this about her.

[Bill]

So on August 30th, my wife and I sold our house for $288k to Zillow. Right after this, Zillow stopped buying houses. They said the reason was they had too many houses and needed to focus on those they already had, but a week after they stopped buying houses they laid off 25% of their employees. If business is good, you don’t lay off a quarter of your workforce! You do stop buying houses and lay off 1/4 of your work force if you see a downturn coming. In October, Zillow sold our old house for $274k for a net loss of $14k!!





My wife and I have been looking at property and houses closely for the last couple of months for our next purchase. We are starting to see more price reductions and longer times on the market. All of this seems to point towards the housing market now being past its peak, at least in our area. Smaller markets tend to lag behind the larger markets so some areas are still going crazy.

I’ll make a guess and offer an opinion.

Zillow makes money from advertising,
selling RE agents premium pages, etc. I’m guessing their revenue was down because Realtors and Property Managers did not see the value. I doubt they’d lay off in advance of a downturn- but maybe they would.

https://www.investopedia.com/articles/personal-finance/110615/why-zillow-free-and-how-it-makes-money.asp

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