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Zillow used to have a “make me move” function where the homeowner could state a price that he would accept even though the home wasn’t actively on the market. Kind of like seeing the car you’ve always wanted and asking the owner if he’d sell.
Zillow took that option away but a homeowner can still list, just not be active, so it kind of works the same way.

My question to a realtor, does it look weird if a house gets listed on Zillow for a high price, then a couple of years later gets listed again for a lower price? What kind of flags, if any, does this send up?

I’m in the process of updating my home. New flooring throughout, counters, sink, interior paint, and appliances. The right buyer might be willing to pay serious money in this market and we’re getting ready to downsize in the next few years anyway. I’m thinking about throwing a really high price on a FSBO on Zillow just to see if he’s out there.



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Not a Realtor, however I have bought and sold a lot of rental property through the years. At the end of the day, it's all about the comps ( comparable properties sold) in your area. In addition, the mortgage lenders are only going to lend so much on the property so if it is wildly overvalued, the purchaser won't get a loan.

I just sold a condo in June and had multiple offers and the sale price was $20,000 over asking. It is all market and demand driven in this Sellers Market.

As they say, asking is free so go for it. You never know who really, really wants your house.

This is an easy way to test the market - https://fsbo.com/

Last edited by STRSWilson; 01/17/22.

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Figure out what 'most' people are buying now regards interior colors and such, it defeats the purpose of an 'upgrade' or modernization if the next person doesn't care for your 'cup of tea'..........

Also, don't be surprised if the majority of your calls to the ad are from realtors wanting to list your property or to tell you that you are asking too much, BTDT.....

We sold ours for 'asking price', realtors said we were asking too much for a 3/2, I said well it's really a 5/4, they responded with 'no it's not, it's a three two' !?!?!?!? 'I live here, and I can count.................'

not sure about the market in Oregon, but here in FLA if you list a house, almost regardless of price.............. be prepared to move......... like NOW!!!

If a realtor wants to bring an offer, deposit with contract it's worth something, I offered them 2%, ended up paying 1%..........

And just dispense with the whole BS of you paying closing costs and flooring allowances and crap, tell them just make an offer, you pay your fees, I'll pay mine..........

And some people think that a 'cash' deal is worth so much more, it might save a little time over someone that is going to mortgage. BUT unless you're going to hold the paper they are all 'cash deals'......... and I didn't care where the cash came from, their pocket, grandmothers purse, or the mortgage company, I got it all day of closing....................

Good luck with you market test!

JMHO

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Gotta be careful, had a buddy do that - list it at what he thought was a ridiculously high price, and had a cash offer for the full ask same day. shocked

They weren't prepared to move but took the offer anyways. laugh

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Part of the problem is few comps. We’re on a 5 acre parcel out of town so that complicates the process from the start. I’ve looked at homes in my neighborhood that sold recently and multiplied their dollar per square foot by my square footage to get an idea.

For example, a house on 8 acres sold in June of 2020 for $575k. 3 bed, 3 bath, 1638 sq. ft. Built in 1974 and never remodeled, never renovated. That’s $351/ft.

That puts my 2805 sq. ft. home at $ 984k but mine is newer, updated, better view, and more private. Less acreage though.

20 minutes to Costco, 10 minutes to the minimart for beer or milk, 12 minutes to three pretty good restaurants, and 15 minutes to a gas station.


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You're worried about how it looks to whom? People in the market right now probably won't be two years from now, so who cares what todays buyers think? List it at a ridiculous price and if it doesn't sell in a few years drop the price when you're ready. Realtors are whores, they'd sell their mother to the Mexican cartel for a buck and a half. They need inventory and chumps willing to spend cash so they can get their dollas. High rollers!

The last thing I would do is worry about what anybody, and I mean ANYBODY, thinks about what I'm asking for my house. Screw them, price it high and leave the land whores out of it.


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No it will not matter. The market will not care.

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Originally Posted by skeen
Gotta be careful, had a buddy do that - list it at what he thought was a ridiculously high price, and had a cash offer for the full ask same day. shocked

They weren't prepared to move but took the offer anyways. laugh
Then you have to pay a ridiculously high price for another house so you don't gain much for all of your troubles.


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There will be likely two or three interest rate hikes this year so the market will likely change yet all real estate is local. Over pricing depending on local market conditions can be against your best interest, you are better off pricing the home at market value or "Below" value to allow multiple buyers to bid up the price.

Your asking price is totally dependent on your level of upgrades your planning on doing plus your basic home features, location, square footage etc.

Zillow has lost a lot of marketing ground...your local MLS system is your friend.

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Originally Posted by doctor_Encore
There will be likely two or three interest rate hikes this year so the market will likely change yet all real estate is local. Over pricing depending on local market conditions can be against your best interest, you are better off pricing the home at market value or "Below" value to allow multiple buyers to bid up the price.

Your asking price is totally dependent on your level of upgrades your planning on doing plus your basic home features, location, square footage etc.

Zillow has lost a lot of marketing ground...your local MLS system is your friend.


this is what I'm talking about ^^^^

Whores.


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Originally Posted by Pharmseller
Part of the problem is few comps. We’re on a 5 acre parcel out of town so that complicates the process from the start. I’ve looked at homes in my neighborhood that sold recently and multiplied their dollar per square foot by my square footage to get an idea.

For example, a house on 8 acres sold in June of 2020 for $575k. 3 bed, 3 bath, 1638 sq. ft. Built in 1974 and never remodeled, never renovated. That’s $351/ft.

That puts my 2805 sq. ft. home at $ 984k but mine is newer, updated, better view, and more private. Less acreage though.

20 minutes to Costco, 10 minutes to the minimart for beer or milk, 12 minutes to three pretty good restaurants, and 15 minutes to a gas station.

Good luck with your remodeling and expectations of adding value. It's very hard to build what someone else wants, especially what a woman wants. It's way easier to sell the cheapest house in the neighborhood than the highest house in the neighborhood. The best time to sell might be right now?


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Originally Posted by doctor_Encore
There will be likely two or three interest rate hikes this year so the market will likely change yet all real estate is local. Over pricing depending on local market conditions can be against your best interest, you are better off pricing the home at market value or "Below" value to allow multiple buyers to bid up the price.

Your asking price is totally dependent on your level of upgrades your planning on doing plus your basic home features, location, square footage etc.

Zillow has lost a lot of marketing ground...your local MLS system is your friend.




Did you read the part about being ready to sell in the next few years, not now?


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Originally Posted by Rock Chuck
Then you have to pay a ridiculously high price for another house so you don't gain much for all of your troubles.


^^^This^^^



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I think that a lot of people take too narrow a focus on the potential buyers. The wife is getting kind of board with our Florida place and the long drive to get there. She looks at Redfin and sees what she thinks is a ridiculously high price on a comparable place. The problem is that she is looking at it through a Midwestern pay scale background. People out of the over paid east coast who are use to paying outlandish prices for everything are streaming into that area and pay big bucks for the places and think it is reasonable. Same thing for vacation property up in northern WI. A pharmacist from Chicago paid 50k over asking for a place across the lake. Unreal.


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Originally Posted by Windfall
I think that a lot of people take too narrow a focus on the potential buyers. The wife is getting kind of board with our Florida place and the long drive to get there. She looks at Redfin and sees what she thinks is a ridiculously high price on a comparable place. The problem is that she is looking at it through a Midwestern pay scale background. People out of the over paid east coast who are use to paying outlandish prices for everything are streaming into that area and pay big bucks for the places and think it is reasonable. Same thing for vacation property up in northern WI. A pharmacist from Chicago paid 50k over asking for a place across the lake. Unreal.


Bingo.

I’m thinking some California ásshole might want to upgrade.

The Rona has taught business that many jobs are still viable remotely. Live anywhere.


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Good luck with it Pharmseller.

I'm with doc Encore.................if this inflation crap keeps up, the Fed will keep raising rates, fewer folks will want to buy and have a high interest rate mortgage (compared to last few years)

Wife wants to move closer to medical services somewhere. Problem is, in this market we won't find anywhere in those places we'd like to buy at what we're paying here. And, we're closer to paid off every month now.


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In it is death and all you seek
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Originally Posted by Valsdad
Good luck with it Pharmseller.

I'm with doc Encore.................if this inflation crap keeps up, the Fed will keep raising rates, fewer folks will want to buy and have a high interest rate mortgage (compared to last few years)

Wife wants to move closer to medical services somewhere. Problem is, in this market we won't find anywhere in those places we'd like to buy at what we're paying here. And, we're closer to paid off every month now.




I’m 20 minutes from a major hospital.

I hear elk bugling on the hill behind my house every rut.

Tough to put that in a comp.


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During the last Buyer's Market you had to do all the upgrades to the Kitchen, Master, Master Bath to attract buyers. In this market all you have to do is knock down a few cobwebs and list it. The offers come.

As the Fed increases borrowing rates, it pushes a lot of fence sitters into buy as they see Fear of Loss the main motivator. So a rate hike or two can actually heat up the market short term.


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A few friends, too.


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And a 3000 sq.ft. barn for the toys. Three 30-ft bays.


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