UNDERPRICED SHORT SALES: GOOD FOR WHO, WHAT, & DOES IT WORK?
I just found out the property I was making an offer for my client on last night has well over 30 offers!! Asking price was $39,000 on Short Sale. Many offers came in around $100,000.
My Question is:
Do you think Sellers should be underpricing their Short Sale Homes by 10%, 20% or ?
This was underpriced by about 70%....Why?Causes a stir for nothing, at least that's how I feel about it. When I told the Listing Agent it was severely Underpriced, he responded, "That's how the Seller wanted to price it."
How do you feel about it and why?
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