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Tony's Blog

By Tony | Home Buyer in Los Altos, CA

Home buyers, relax...they aren't selling the home anyway!

Just as an example, look at this house, which was listed last month on the market for $2 million before. It is a nice house. Now it is listed for $2.1 million. 


So, what is the point? When home buyers are ready to buy houses, do your thorough research and come up with the offer that you strongly believe that it is a fair market price (no need for low balling). Then, just seat back, relax, and let the home sellers to select the highest bid. Home buyers don't need to come back to overbid each other many times because the end result would be that the home owner's asking the agent to re-list with a higher price when they see someone desperate for it. They aren't selling it anyway! Besides, there is no need to hurry to buy until the end of the year when you will know for certain regarding the fiscal cliff issues that your future mortgage interest and property tax deductions will be reduced or capped, and by how much. Will your decision of buying a home change at that time? Just think about it!


By Grace Morioka (408-426-1616),  Thu Nov 8 2012, 16:04
Hi Tony,

I've read and reread your post, and I don't think I understand what you're trying to say? Do you think that sellers readjust the price when they get offers? Because if so, you'd be wrong. Further, do you think someone lists a home only to "chum" the waters to get prices? Again, you'd be wrong...home sellers invest far too much of their time to waste and money beautifying a home only to find out what the public wants to pay for it.

If this is truly what you think the market is here in Santa Clara County, then I'm afraid you'll be "relaxing" a long time without a home in Los Altos. The reason why prices are restated at higher fees on one listing can be varied, but it seldom has to do with the seller trying to pump up the price by him/herself.

So again, your post has me confused since the assumptions regarding buying, pricing and the current market are, IMHO, incorrect. Can you be more specific? What leads you to believe that this is the seller's behavior?
By Tony,  Fri Nov 9 2012, 15:23
Perhaps, you should specifically provide some of the potential variables when a home was listed at a certain price, but then later re-listed at a higher price than the original one after a few open house sessions and receiving offerings from buyers, if that wasn't due to the high demand? There isn't any thing wrong with higher demand vs. increase the asking price on a home.

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