It really doesn't matter what LISTING PRICE they assigned to the house;
Make your own number:
Understand that the LISTING PRICE has one primary objective, to attract attention: It is not intended to be set in stone, and in many cases it is not even a good guideline toward the SELLING PRICE.
Some Sellers believe that by setting the LISTING PRICE high, they can always come down, and people will make an offer anyway: WRONG! Buyers will just bypass the property and look at houses that are within their price range. And six months from now, the Seller will slowly start lowering the PRICE, (this is called â€œchasing the curveâ€) and Buyers will be asking the question; â€œWhatâ€™s wrong with that house?â€ and â€œWhy has it been on the Market so long?â€
Other Sellers set the LISTING PRICE low, to attract multiple offers. (The correct strategy.) We are asked; â€œArenâ€™t you obligated to sell at this price if someone offers it?â€ The answer is probably not; for that to happen, you would first have to have only one offer, and secondly, the offer would have be exactly the same, down to the smallest detail, (please discuss this with your Realtor).
Another thought; Buyer will search for potential properties by groups; for example, $400,000 to $450,000, and $250,000 to $300,000. If your house is priced at $460,000 or $310,000, the Buyers will never see it. (something else to discuss with your Agent.)
Different Banks have different philosophies about pricing their properties: You cannot draw any conclusions without a good analysis.
Have your Realtor do a CMA, (Comparative Market Analysis) to help you determine your Offering Price. It is the surest way to determine the Market Value of the property.... more
Bushwick is getting better all the time. It is a neighborhood thatâ€™s ready to move beyond the images of its charred past. The median sales price for homes in Bushwick, Brooklyn for Aug 09 to Oct 09 was $445,000 based on 54 sales. Compared to the same period one year ago, the median sales price decreased 10.9%, or $54,500, and the number of sales increased 3.8%. Average price per square foot for Bushwick was $193, a decrease of 1% compared to the same period last year.
There are currently 351 resale and new homes in Brooklyn on Trulia, including 1 open house, as well as 205 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Bushwick was $450,033 for the week ending Nov 10, which represents a decrease of 2.4%, or $11,070, compared to the prior week.... more
bushwick popularity is growing into one of brooklyns great places to live its close to nyc city has excellent tranpotation shopping along broaway bushwick has a mix of brownstone multi family homes prices have stabilized demand is strong... more