Home Buying in Glenside>Question Details

123456, Home Buyer in Glenside, PA

I have noticed multiple homes increased their asking price by 20K recently. Is it realistic to assume they have done 20 worth of cap improvements?

Asked by 123456, Glenside, PA Sat Nov 5, 2011

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Linda Nunn’s answer
All answers below are all good possibilities. A recent sold in the neighborhood, increased to cover the trending 5% discount Offer price from List Price, or increase to cover repair.inprovement,

Are interested in buying? Do you have a Buyers Agent? My suggestion, if you are currently in the market or planning to buy in the near future, get an Agent for professional research on your specifics of location, size, price and ammenities.

Feel free to contact
0 votes Thank Flag Link Tue Jan 31, 2012
I agree with Tim. It is clearly a buyer's market and many sellers will just not listen to reason or accept the data that is presented to them. They ask much higher because they think it will force a buyer to offer higher...WRONG! The buyers will pass them buy and they will sit on the market indefinitely.

Carol Cei, ePRO, Realtor
Five Star Professional
ReMax Action Realty
215.643.9661 cell
Web Reference: http://Www.carolcei.com
0 votes Thank Flag Link Sat Nov 5, 2011
Although I can't give the answer without speaking to the listing agent, which I would be happy to do for you, most likely this could be a short sale and the seller's mortgage company is not accepting the net price and what was the asking price.
0 votes Thank Flag Link Sat Nov 5, 2011
Or the market has simply improved in that neighborhood. Everytime a home sells, it is a new comp to be used to calculate market value.

They also could have had an offer from a buyer that fell through, but during which they made some requested repairs, hence the price adjustment.

If you have a certain area you are interested in receiving a market report on, just send me your home zip code, your home address or the address of the home you are considering.
Web Reference: http://kurfiss.com
0 votes Thank Flag Link Sat Nov 5, 2011
The price increases may not be directly related to improvements, but rather a reflection of the current market trends. There has certainly been an increase in buyer activity recently due to the record low rates that are currently available for purchase financing. Also, in metro Philly, except for a few locales, pricing consolidation continues with a slight uptick in sold prices. However, the beauty contest is certainly dictating pricing; the updated, well-maintained, move-in condition property will have multiple offers and sell for, if not slightly more than, asking price, while the other available properties that do not have these benefits will certainly continue to experience pricing pressure to offset any potential buyers' post-settlement investments. Good Hunting!
0 votes Thank Flag Link Sat Nov 5, 2011
Never assume anything, ask. Owners will often think they are offering their homes too low in these buyers markets. They may also have gotten several low ball offers and they think that by raising the list prices the low offers won't be as low after they raised the listed price.
0 votes Thank Flag Link Sat Nov 5, 2011
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