All the best,
Exit Realty Search
3928 E. Tremont ave
Bronx, NY 10465
Note 1: A big fad among brokers in our area is listing properties below market value to create a bidding war. This has made marketing statistics that include listing prices useless when trying to get a bead on how the market is moving.
Of course, wouldn't that always be the case? Isn't there a "multiple offer threshold"??
I mean, even when things were the worst, if you took a home that was worth $400,000 in Jun of 2006 and then price it at $125,000 in November of 2008...wouldn't it STILL have gotten multiple offers?
Interestingly enough though, there are STILL homes in the "hot" areas which are expiring. Some houses with multiple offers and some expiring. That shows that it is still very much possible to over-price a home right now.