The Price is Right?
Paying more than the asking or list price used to be rare. But things changed. Let's explore what happened in 2023 to determine if excessive exuberance continues or not. I'm really interested in what you think! If you have any questions or cool ideas to share, I'm all ears! Just scroll to the bottom of this page.
1/8/20241 min read
Picture this: when you're buying a house, it's like going on a shopping spree for your dream home. But here's the twist—sometimes the price tag isn't the final deal! Imagine seeing a cool toy on sale for $10, and you think, "Great deal, right?" Well, in the housing world, it's like buying that toy and finding out lots of people want it too, so they bid higher, like saying, "I'll pay $12! No, $15! Wait, $20!"
In the past, most folks wanted to pay less than the price marked on the house. It was like trying to bargain for a discount on a big-ticket item. But now, things are shaking up! People are lining up to pay the same or even more than what's written on the house's price tag. Can you imagine offering $12 for that $10 toy? That's kinda what's happening!
It's a bit like a game. The price tag is just the starting line, and the actual sale price is like a race where people compete by offering more than the initial price. It's like running a race and suddenly everyone's trying to jump farther than the starting line!
Statistics show that in the past, paying more than the price marked on the house was super rare, like finding a unicorn. But now, it's becoming more common. Most of the time, people still pay close to the marked price, just a tad more, but not like trying to pay $20 for a $10 toy—that's still pretty rare.
So, if you're in the game of buying a house, remember, it might not stop at the price on the tag. Be ready to offer a bit more if you really, really want that dream home. It's like bringing extra coins just in case that $10 toy becomes the hottest thing in town!
