How to tell which properties are selling at a discount to their price guides
- realestateprotips
- Nov 21, 2022
- 1 min read
Potential home buyers trying to research their options would be better served by looking at sold prices than price guides, even in a falling market, buyer’s agents warn.
Although fewer properties are selling for hundreds of thousands of dollars over reserve now compared with during the boom, some sought-after family homes are defying the downturn and leaving underbidders shocked.
Separately, pockets of underquoting persist even when prices drop, as agents offer an unrealistically low price guide to attract interest.
Home buyers can be left looking at asking prices and thinking they are in with a chance, only to be knocked out by the first bid at auction.
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