January 31st, 2011 12:02 AM by Eric Fang
I am watching the RE market recently. And one interesting phenomena is that some houses listed much higher than the market. And it follows the market "lower".
Here is an example, one house listed 1.05M in May, 2010; Then lowered to 985k on 06/04/10;again 910k on 09/09/10; and 885k on 01/20/11.The seller hoped to find someone silly enough to purchase a property with much higher thanthe market price. And they lowered the targetagain when the market is lower. What if theabove property listed 900k at the beginning?It might have been sold.
We have similar stories for the market. Often I have some prospects asked for the rae quotes, and they found the rate lowerthan their loan originators; and then the loan originators want to "match" my rate.
My question is: why they can not just quotethe best rate at the beginning?It make themlooks bad when "matching" the rate.