What does it mean when a person raises their asking price in this market?

Dan
Home Buyer
Queens, NY

I am looking at a house that was listed at 345,000 in February and has since been raised to 360,000 this month Why would a realtor raise the price of this house when no other homes are selling and everyone else is dropping their price?. (Location:Suffolk County NY)

Answers (7)
Dan
Home Buyer
Queens, NY

So wht kind of offer would you put on this house if you were interested?

Tue May 13 2008, 08:49
Don Tepper
Agent
Fairfax, VA

Just a guess, but the sellers (or maybe the agent) weren't seeing much action at $345,000, even though they think that's a reasonable number, and they can't go significantly lower. They're wondering if people searching for homes similar to theirs are searching in a higher price range--say $350,000-$400,000. They're concerned that there might be some buyers searching that higher price range who they're missing.

Just a guess...

Tue May 13 2008, 08:25
Dan
Home Buyer
Queens, NY

There have been no updates on the house since it first listed.

Tue May 13 2008, 07:32
Julie
Agent
Buffalo, NY

I've seen the same houses go up and down in price just to stay on the hotsheet each month.

Tue May 13 2008, 06:10
Franklin Blacker
Agent
11779

Dare to be different?? This has been a widely acclaimed tactic, specifically in the entertainment industry, to draw attention to one's own agenda.

Mon May 12 2008, 12:21
Henry Cunalata
Agent
Bayside, Queens, NY

It does not matter what the seller asks, ultimately the buyer deteremine selling price. If you like a home make an offer and take it from there.

Henry
917-497-0729

Mon May 12 2008, 12:00
Gail Gladstone,...
Agent
11743
FIRST ANSWER

You would have to ask that particular Realtor the reason behind that; there could be a lot of reasons.

If it is new construction, pre-construction prices are usually lower and then go up as the house is built. Sometimes a house is priced as is and a seller does some major improvements...price should go up.

Web Reference: http://GailGladstone.com
Mon May 12 2008, 11:13

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