@alishacollinsrealestate: Replying to @Lee Sellers didn’t just wake up during COVID and decide their houses were worth twice as much. And I don’t think this commenter is being negative. They’re saying sellers saw an opportunity when interest rates were incredibly low and started raising their prices. We don’t need a history book to tell us what happened. We were there. I was standing next to buyers and sellers while it was happening. I even bought a couple houses during COVID myself. But here’s the part I disagree with: Sellers don’t ultimately decide what a house is worth. Buyers do. Think about what was happening. Let’s say a house was listed for $250,000. And TEN buyers wanted it. One of those buyers offered $260,000. Another offered $270,000. Someone else waived or limited certain contingencies. And we had buyers willing to bring additional cash if the appraisal didn’t support their purchase price. Why? Because they REALLY wanted that house and there weren’t enough houses available for everyone who wanted one. The seller didn’t force somebody to offer $20,000 over asking. The real estate agent didn’t force them. The buyer made that decision. Then that house closed. And guess what? Now we had a new comparable sale in the neighborhood. So when the next similar house came on the market, we’re not pretending that $270,000 sale never happened. Now there’s market evidence supporting a higher price. And if the demand is STILL there and another group of buyers competes for that house… It happens again. And again. And again. That’s supply and demand. Then the market can go the OTHER direction. If suddenly we have ten houses available and only two buyers looking for them, sellers don’t have nearly as much leverage. Now they’re competing for those buyers. Prices may have to adjust. Repairs matter more. Closing costs might come into the conversation. That’s why I don’t think it’s accurate to say sellers simply decided what their houses were worth during COVID. Buyers demonstrated what they were willing to pay, and those sales became the comps for the houses that came next. And yes, every seller I know wants the most money they can reasonably get for something they own. You can call that greed if you want. But if you owned the house, would you intentionally sell it for $250,000 if multiple ready, willing and able buyers were offering you $270,000? Do you believe COVID home prices were primarily driven by supply and demand—or do you think sellers and the real estate industry pushed prices higher? Tell me why. #alishacollins #casperwyomingrealestate#realestatebestie #covidhousingmarket #housingmarket

elizabethr567 :

we put a lot into our last house. awesome location. quiet street. we listed for 420. 12-13 offers. multiple over ask. the top offer was 80k over ask. closed effortlessly. they waived the appraisal contigency. the house is worth more 4 yrs later 10% more. but we did a lot of work to make it more mcm. homes in my new area are STILL GOING above ask, 1st weekend here if they are desirable. also the comps still support these prices.

denibegole :

My daughter paid $160k for her house, she sold it at almost $400k, markets fluctuate

Stanley and Jess :

I think it’s greed (at least in my area in eastern MA) because the generations before us fought with every ounce of their being to not allow any housing to be built. This started even before I was ever born in the 90s. They were able to afford homes reasonably relative to their income. Now they’re taking advantage of the fact we have a housing crisis. I saw a 2BR listed for almost 700k yesterday when they purchased it for less than 300k less than 13 years ago. That’s not just simply selling a home for 20k extra, that’s just greed.

Ms.Samie1129 :

Do you think if houses stop selling at over asking and people offer less than asking the prices would go down? At least here in MA- prices are out of control! I honestly don’t know how anyone can afford the payments! So glad I bought way before all this, but I feel bad for those starting out or those who like me want to downsize but it would be financial suicide.

lsenkbeil12345 :

Honestly, I'm glad I dont need to purchase a house

Nuckin futz :

I remember watching a house list at 375k and it was very nicely renovated. Home had 30 offers and one was 75k over list. Another house listed for 790k and it sold for 930k. Insanity but buyers made the offer.

keithtupick :

Investors bought multiple properties then sold some properties to their shell companies for 200k more than they paid real estate value is based on current sales now those properties they bought are worth 400k instead of 200k . I sell real estate and watched it happen if a regular person did that it would be jail time. But billion dollar companies are above the law .

Kelly Moore | Atlanta Realtor :

My sellers listed at 525k and were offered 625k. Those owners could possibly sell at that price today but not much more. My other sellers listed at 550k and got 670k during that time. Almost all sellers had this scenario where they priced right and got much more. It was the buyers who drove the price up!

Sandra Watkins :

Homes also went up when lumber prices spiked doubled and tripled and never came back down as lumber prices dropped for new builds

dd2me :

Absolutely. I’ve had a few buyers lose the house because another buyer bid over listed price. Agents do their best to list at comp prices. And every time a buyer over bids the list it raises the comps.

user1689443098008 :

Yep, and that’s how it works 💯💯💯

Youwishyoucouldbeme009 :

If someone is going to pay me 400k for my home then I am selling it for 400k. Facts.

DYork :

💯 Buyers will tell sellers that they’re overpriced without saying a word.

BridgetteGoldKeySuccess❌🤩 :

Thank you for educating people because there are so many people who have runaway train thoughts of how this industry works

lgc962 :

I even knew people who never planned to sell but they saw what outrageous prices people were paying for houses here in Austin and they sold. It was ridiculous.

Kosmic Acid Trip News :

THANK YOU!!!!!!!!!!!!!!!!!!

denibegole :

My cousin is selling a camper on land, I'm very tempted. I can sell my house and pay it off, get the equity and live in that camper in a beautiful area for $300 a month

Youwishyoucouldbeme009 :

I can assure you if someone offered me 400k for my house I ain’t going to say NO it’s only worth 278k that’s all I want. If someone will pay 400k. I will sell it at 400k. Now all the houses in my subdivision like mine suddenly went up

lgc962 :

100%! There are buyers with cash willing to pay over market price. Lots of PE firrma do this.

KLee713 :

Whether upgrading or downsizing a seller will be purchasing their next home in the same market or maybe moving to an even more inflated one. Of course this consideration is reflected in asking price.

brenda whittiker :

what inspections do you recommend 🤔

pr9000 :

Money is cheap = prices will rise because there’s more money in the market.

Becky :

999Tdog :

I’m not leaving any money on the table when I sell. None.