Depending on when the homes were purchased, they could be listed below what they were purchased for although still appearing priced high in the present market.
Seller who purchased when the market was high, have mortgages that might be higher than the present valuation of their home, so it is hard for them to reduce price as quickly as someone owning a house outright.
The ones that were on the markeet for some time are becoming more attractive because
the market is picking up in MANY parts of town and $800k homes are being sold NOW for several reasons. There are several WAYS I can discover what is out there waiting to be bought but I would have to talk to you and meet you in person. Max Sklower, Owner/Broker of Broadcast Realty. Phone 800-888-3581 or 505-822-8864. Email: email@example.com . Without personal contact you and I are and will both be flying blind. OK? Thanks Uwe.... Max
It can depend on a Seller's motivation. If they're just looking to "test" the market, they'll discover that the market will actually "test" them. Others just may not have much flexibility, so they have to stick to their price.
On the buying side, some times simply submitting comps along with your offer can help get a Seller to be a bit more realistic.
If you have any questions or would like to get an idea of value on a particular home, feel free to connect with me.
Syan Real Estate
Call/Text: (505) 730-8181
Sandia Peak Realty
$300K sell very quickly but over $400K take longer. No one wants to pay too much for a house and then wish they didn't because the value has gone down. The NEWS says the market is improving and in some areas it's back to "normal" but in NM, we are usually 2 years behind the "real" world. And finally, FIND YOURSELF A REALTOR that can answer your questions. We are educated in the market and knowledgable about everything you'd want to know about real estate in ABQ..The Seller usually agrees to pay the commission and you will be better informed and more educated to the ABQ. market. You certainly can not see the house next door on the internet and when you buy in NAA, that can be extremely important!