5 years? The norm here has been 10-20 bids on a house, with an all-cash offer from foreign investors behind a faceless LLC, for like 30 years. Where are you living?
>5 years? The norm here has been 10-20 bids on a house, with an all-cash offer from foreign investors behind a faceless LLC, for like 30 years. Where are you living?
In the major metros, sure. But I'm talking about 3rd tier city suburbs.
Every area is different, some places the norm is to price the house low and then take the highest offer, other places price the house high and then take the highest offer (that will be below the asking price).
Arguably if the house doesn't sit on the market for about 3 months it was priced too low, and if it sits longer it was priced too high (this can also depend on if it is empty or inhabited at the time).
