I just started a new thread and posted the following, but it seems this thread would also be a place where it might fit:
I just saw a price change for a listed property, which had notes, "VERY MOTIVATED SELLER!! BRING ALL REASONABLE OFFERS!!" I bet you wouldn't think the seller was so motivated if you saw the price change. It increased from $497,500 to $685,000. :shock: That is a 37% increase in price. Motivated seller??? Makes me wonder what that means anymore. When everyone is motivated, no one is motivated. It is really disappointing to see the term, "motivated seller," losing its value. There are truly some motivated sellers. I will let the price, not the wording, "motivated seller," tell me if it the seller is motivated. Does that mean that a buyer can negotiate the price down to $497,500 and feel like they got a huge discount?
Personally, I think the house is a great buy at $500K, but even great buys are not selling like hotcakes right now.
Perhaps there is more to the story, like the property recently receiving a zoning change allowing greater density or something, which might change the value, but on the surface, it just doesn't make sense. If it didn't sell during the last 5 months, priced under $500K, I'm not sure that it will sell now for $685K. A few sellers are realistic in their pricing, but I still question so many of the people who have property listed.