Tell me if this is not a good idea and why

We know the market is terrible right now... but my husband thinks we should just list the house by owner for what we wanted to make about 3 years ago when things were good. and just see if we get any bites (besides from realtors). For instance - we live in Destiny West. The value has decreased, but had we listed it 3 years ago, we could have asked for at least 900,000 and have wiggle room.

What are the cons by listing it at this price, hoping that someone that doesn't know any different (maybe from out of state or out of the country)? If anything, I would think the other houses would look like a deal in comparison.

Why not sell it to those people you have convinced into making $3900 a month? They should be able to afford it no matter what you are asking.

it worked for my sister

so I have to give it a try

We know the market is terrible right now... but my husband thinks we should just list the house by owner for what we wanted to make about 3 years ago when things were good. and just see if we get any bites (besides from realtors). For instance - we live in Destiny West. The value has decreased, but had we listed it 3 years ago, we could have asked for at least 900,000 and have wiggle room.

What are the cons by listing it at this price, hoping that someone that doesn't know any different (maybe from out of state or out of the country)? If anything, I would think the other houses would look like a deal in comparison.

The number of people who don't know any better is at an all time low. 😀

The number of people who don't know any better is at an all time low. 😀

If someone can still be successful finding victims for an illegal pyramid scheme I am sure that they could find victims to hose on a house. The problem being finding someone to do the closing that is not going to let the cat out of the bag. All of the fake closing agents have probably moved on to other nefarious schemes.

If someone can still be successful finding victims for an illegal pyramid scheme I am sure that they could find victims to hose on a house. The problem being finding someone to do the closing that is not going to let the cat out of the bag. All of the fake closing agents have probably moved on to other nefarious schemes.

Appraiser.

So this mythical buyer, assuming he or she paid cash and did not need an appraisal, would immediately be $200K or $300K underwater? Is your place that special that it would not matter?

Seriously -- would you wish this on your worst enemy? Or are you just trying to transfer your misery to someone else? Because that's pretty much what you are talking about, unless you have some priceless water view that nobody else has.

hollibird, aren't you a Realtor?

The number of people who don't know any better is at an all time low. 😀

...but they are still out there. How about the 1200 square foot, Joe built:yikes: cottage in Phase I of Watercolor that just sold for $1.05 million or just over $800 per square foot.

Words escape me.

Do you have any motivation to sell your house other than the possibility that you might find a stupid buyer to screw over?

Good thing you live at the beach, you'll be quasi used to the heat when your karma catches up with you. :roll:

P.S. One would think someone who could ACTUALLY turn $6 into $3900 every month wouldn't need to dabble in real estate grifting.

We know the market is terrible right now... but my husband thinks we should just list the house by owner for what we wanted to make about 3 years ago when things were good. and just see if we get any bites (besides from realtors). For instance - we live in Destiny West. The value has decreased, but had we listed it 3 years ago, we could have asked for at least 900,000 and have wiggle room.

What are the cons by listing it at this price, hoping that someone that doesn't know any different (maybe from out of state or out of the country)? If anything, I would think the other houses would look like a deal in comparison.
Tell me if this is not a good idea and why

Because dishonesty usually comes back to bite you in the @$$. Tell me if you think attempting to cheat someone is a good idea and why?

Can't believe someone would even ask that...

For $6 per month, you could start pulling in $3900 every month. It's that simple.

Am I having one of those flashbacks they promised me back in the sixties? I thought pyramid schemes went out in the seventies.

I am confused why people think that buyers from other areas or out of the country will pay more for something then what it is worth. They will do the comps, look around, etc. Listing or selling right now too high is simply telling the public what your home is not worth. Each day, each month, each year on the market is another day your value drops by having a number claiming a value that is not reality based. If you can not compete in the market look at plan B.

Because dishonesty usually comes back to bite you in the @$$. Tell me if you think attempting to cheat someone is a good idea and why?

Come on now? Everybody has witnessed how ordinary items can have immense value to any one individual person, hence the expression "beauty is in the eye of the beholder". If you happen to find a buyer for your house at this rate it's because it was totally worth it to them and everybody associated with a this transaction is a winner. You can't win if you don't play!;-)

If someone is willing to pay that price when they could probably have the same or very close equivalent then go for it.

However I do think that kurt should remove that siggy line. That's just flat out a scam.

done

I believe the downside was asked about. The downside of listing your house 60% higher than possible selling price is that you unneccessarily confusing buyers and adding fake inventory to the market. Also, today's buyers are fairly educated, and well-researched. Your reputation will be attached to your listing, and people may base their thoughts of you on your listing, good or bad. As mentioned, it's in the eye of the beholder. One last thing is that you may influence other people in your neighborhood, who may think that you know something they don't, and they also over-price their listings.

If you are still licensed as a Florida Realtor, I'd be very careful about your statements. Realtors have a Code of Ethics by which we are governed.

Buyers today are very informed and savvy. They all have one thing in common- they don't want a deal, they must have a steal!

Sellers with the mentality that a rube will come along and give them what they want are seriously deluding themselves.

Come on now… Everybody has witnessed how ordinary items can have immense value to any one individual person, hence the expression "beauty is in the eye of the beholder". If you happen to find a buyer for your house at this rate it's because it was totally worth it to them and everybody associated with a this transaction is a winner. You can't win if you don't play!;-)

Come on now? With housing prices down 20-30% across the board (including here in our area), no house is worth what it was 3 years ago. Comps are easily available and no honest appraiser will value a house at the figure it was valued 3 years ago. Ask any reputable realtor.

Have you had your house appraised lately? You might be surprised by its current value. I know I was when I had mine appraised for the first time in 2 years, just recently. I've made improvements and it still went down in value 15%.

I don't think you'll find many who will "play" if we all start acting like the poster of this thread. No one "wins" if you play this game. Reality hurts, but it's still real. I still say complete disclosure and honesty are the best policy...and it's the law. That's my story and I'm still sticking to it!

I love your dog though.

...but they are still out there. How about the 1200 square foot, Joe built:yikes: cottage in Phase I of Watercolor that just sold for $1.05 million or just over $800 per square foot.

Really? On the beach?

I have to say, I'm speachless by the question posed. . . .truly speachless. . .

I have to say, I'm speachless by the question posed. . . .truly speachless. . .

By the way the thread is titled seems to say the OP must know this is dishonest...

Let's back up a moment. I read a few people hinting that a persons decision to over-price their home is dishonest and illegal. For the record, it is not illegal to over-price your home, just as it isn't illegal to overcharge for a haircut. It just doesn't bring in business, and often will repulse anyone from buying, or trusting that you know anything about pricing real estate. Dishonest? Really? I don't know that I fully agree with overpricing being dishonest, and if it is, isn't every listing which doesn't sell today, over-priced, and therefore "dishonest?"

Let's back up a moment. I read a few people hinting that a persons decision to over-price their home is dishonest and illegal. For the record, it is not illegal to over-price your home, just as it isn't illegal to overcharge for a haircut. It just doesn't bring in business, and often will repulse anyone from buying, or trusting that you know anything about pricing real estate. Dishonest? Really? I don't know that I fully agree with overpricing being dishonest, and if it is, isn't every listing which doesn't sell today, over-priced, and therefore "dishonest?"

good point. Hadn't thought of it that way.

This isn't a case of someone pricing their home above market value because of sentiment, a mistaken idea about its value, or a sellers market, this is someone who is specifically pricing their home far above what they know is its value in the explicitly stated hope that they can fool someone into buying it.

That's dishonest to me. :wave: