Market Conditions in Mastic>Question Details

J. Farrell, Home Buyer in East Patchogue, NY

how and why are houses being sold for less than suggested or less than the comparables?

Asked by J. Farrell, East Patchogue, NY Sun Nov 3, 2013

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My sentiments exactly, in regards to what Ms. Anna Brocco has stated. A home is worth, only what someone is willing to pay for it, and sometimes, a homeowner may be so motivated, to price a home to sell quickly, which may in turn, result in multiple offers, if priced right.

I suggest working with an agent of your choice, so you can better understand the local market conditions in the area in which you are looking for a new home.

I hope this answered your question! If you have any further questions, please feel free to contact me by the ways below.

Wishing you all the best,

De Vonte Williamson , LSA
Experience The Williamson Difference
Proudly Serving Long Island
Top Relocation Associate, 2012
"I Stand Behind Getting You Results!"
1 vote Thank Flag Link Mon Nov 4, 2013
Keep in mind that a property is worth what someone is willing to pay for it, and what the seller will accept...each sellers' circumstances are different.....
1 vote Thank Flag Link Sun Nov 3, 2013
Great answer Ryan!! The market will always predict the sales price of a certain home. Sometimes homeowners need to get a certain amount to make a move that does not determine value. I am in favor of pricing at fair market value to create lots if activity and offers. The more buyers bidding for your home the more likely the price will drive up. I would love to help you in the future or better yet Ryan and I can help you together. Have a great night!! Good luck on your decision Manorville is great area to live. I have sold several homes there .

Life's Good,

Lawrence Gardner :-)
Exit Realty All Pro
1-631-647-8844 Ext.107
1-631-742-4657 Cell
1 vote Thank Flag Link Sun Nov 3, 2013
There are many different answers to this one. It is possible that the market is still not in the greatest shape, and so sellers are forced to sell their home for a lower price then they would have to in a thriving RE market.
0 votes Thank Flag Link Mon Nov 4, 2013
Hey J. It all depends on the seller's motivation. I've gotten buyers GREAT deals from motivated sellers. I've also gotten top dollar for less than motivated sellers that were willing to wait it out.

Each situation is different. Either way, good luck!
0 votes Thank Flag Link Sun Nov 3, 2013
Unless you are speaking of identical properties with few or no variations there are usually features or conditions that determine a difference between properties. Suggested values are just that....merely recommendations that have some sort of basis behind them. This can be further complicated by the level of motivation demonstrated by each seller.

Because a property appraises at a given value doesn't mean that it will sell for that amount......only that based on the most recent information this is what the property should sell for. The rest is a determination arrived at between the seller and the buyer.

Hope this helps,

0 votes Thank Flag Link Sun Nov 3, 2013
Every house is different and is worth whatever someone is willing to pay for it. Do you have any specific examples? Sometimes a home owner has more value in getting a deal done. Especially if they are moving to a place which has rising home values which exceed that of NY. Thus saving them money in the long run.
0 votes Thank Flag Link Sun Nov 3, 2013
The eventual sales price sometimes has a lot to do with the seller's motivation (need to sell in a shorter time frame).

Those reasons will never be apparent to the community.
0 votes Thank Flag Link Sun Nov 3, 2013
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