Home Buying in Ronkonkoma>Question Details

Dan, Home Buyer in Queens, NY

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

Asked by Dan, Queens, NY Mon May 12, 2008

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)

Help the community by answering this question:


The Seller is the only one who may change the price. The listing broker would have no choice but to follow the homeowner's decision. As to why? could be alot of reasons.

maybe its a distress property or short sale with all the accrued interest since February rolled into the listing price.

Maybe seller is incorporating their next tax bill into the price.

Maybe it's Thursday.

If you like that house and wish to own it, make an offer through your agent for the PRICE YOU WANT TO PAY, and they either accept it, counter offer, or reject it. either way you move forward or you move on. obsessing over one house for 6+ months watching it isn't healthy.
0 votes Thank Flag Link Thu Aug 22, 2013
So wht kind of offer would you put on this house if you were interested?
0 votes Thank Flag Link Tue May 13, 2008
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...
0 votes Thank Flag Link Tue May 13, 2008
Don Tepper, Real Estate Pro in Burke, VA
There have been no updates on the house since it first listed.
0 votes Thank Flag Link Tue May 13, 2008
I've seen the same houses go up and down in price just to stay on the hotsheet each month.
0 votes Thank Flag Link Tue May 13, 2008
Dare to be different?? This has been a widely acclaimed tactic, specifically in the entertainment industry, to draw attention to one's own agenda.
0 votes Thank Flag Link Mon May 12, 2008
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.

0 votes Thank Flag Link Mon May 12, 2008
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
0 votes Thank Flag Link Mon May 12, 2008
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