Home Buying in Streamwood>Question Details

Dk0450, Home Buyer in Streamwood, IL

Why did selling price jump 35% as soon as I inquired about it with the Realtor? Market up about 2.2% .House on the market over 365 days.

Asked by Dk0450, Streamwood, IL Wed Apr 25, 2012

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The SELLING PRICE did not go up 35%!

The LISTING PRICE may have, but not the selling price.

The Listing Price is, at best, a non-sensical number that someone came up with to try to generate some interest with the property:
It may be artifically high because the seller, or the Bank, or the Realtor thinks that someone will come along and pay the price.
or,
It may be set really low to encourage multiple offers, (which is the way to go now-a-days).

You should ignore the SELLING PRICE and have your Agent do a CMA to determine the Market Value of the house. That should guide you to YOUR realistic offer price.
0 votes Thank Flag Link Wed Apr 25, 2012
You may want to engage your own Realtor to assist you with searching for the best homes at the best prices. Asking the Listing Broker can be less than informative, as they represent the seller.
There may be some homes you are missing by not using the actual MLS and just relying on Internet sites.
0 votes Thank Flag Link Wed Apr 25, 2012
What's the address? I couldn't really answer the question without looking up the property history...that may give some insight!
0 votes Thank Flag Link Wed Apr 25, 2012
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