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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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MLSLI question
I just did my weekly search- and I have to say there were a lot more house under $600K on the water- but that's not my point
but I saw a few that had ranges listed instead of a price- like $748- $650K
what does the mean- I would rather pay the $650K
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Posted 8/1/06 3:53 PM  |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: MLSLI question
This has been more prevalent in the past 6 months or so.
I think they do it to rope someone with a lower budget into the house, to get you to fall in love with the house, and than say well we have a bid for XX amount, which of course is more than the first $ in the price range.
Just drop the price people!!! Stop it with this price range doodie!!
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| Posted 8/1/06 3:56 PM |
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danielle
LIF Infant
Member since 7/05 137 total posts
Name:
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Re: MLSLI question
I guess it would mean offers that they would "entertain".
I don't exactly understand though, so I am just guessing.
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| Posted 8/1/06 3:56 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: MLSLI question
$100K is a big range-
I think it's silly- it's like showing all your cards
just another sign things are changing
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| Posted 8/1/06 3:58 PM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: MLSLI question
Posted by Beth1210
$100K is a big range-
I think it's silly- it's like showing all your cards
just another sign things are changing
definitely! I have been looking on MLS for a year and I didnt see it until about 6-8 months ago.
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| Posted 8/1/06 3:59 PM |
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lululu
LIF Adult
Member since 7/05 9511 total posts
Name:
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Re: MLSLI question
Hmm - $100 k is a big range....
I really dont understand the range thing either - but I always feel like it is to get that house to show up when you search in a lower bracket on MLS. Some of the deals seem too good to be true.
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| Posted 8/1/06 4:05 PM |
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~Colleen~
my loves...
Member since 5/05 9129 total posts
Name:
guess
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Re: MLSLI question
I actually saw that a lot with certain REA's. Prudential comes to mind. They would put $450k-$525k...meaning they would entertain offers between that range. (I haven't looked since Feb of this year - but I was looking since May 2004.)
Your offer isn't all about the money within the offer. It's about what you'll be putting down, what you have to mortgage, when you can move, when they can move, etc. So if you've got two couple's coming in and one is offering $500k with 10% down and can move whenever and the other is offering $485k with 20% down and is also flexible on moving date...the seller might entertain the $485k offer - try to get them to come up perhaps - but they might feel more secure with a larger DP, thus less to mortgage and more security (in their minds) for obtaining that mortgage.
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| Posted 8/1/06 4:08 PM |
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Palebride
I am an amazing bakist
Member since 5/05 13673 total posts
Name:
Lori
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Re: MLSLI question
I was looking at a house with a range of $399 - $458, so I asked my brother and he said some RE agencies do it so that a house like that will show up on a number of price range searches. So more people see it if they are searching in a particular price range.
I thought it was strange too - I mean, if they're willing to take an offer of $399, why would I pay more than that?!?! Especially in this market!
Interestingly, this particular house claims they reduced the price recently when they changed it to $429.
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| Posted 8/1/06 4:13 PM |
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: MLSLI question
Posted by Meaghan729
Posted by Beth1210
$100K is a big range-
I think it's silly- it's like showing all your cards
just another sign things are changing
definitely! I have been looking on MLS for a year and I didnt see it until about 6-8 months ago.
same here!
a range according to my agent means they will not take anything below the lowest #.
the range thing is really stupid... even if someone rich was buying the house, who wants to pay $1 more if you don't have to? 
agent: "the range of this house is $450-$500K"
buyer: "I'll take it for $475"
Message edited 8/1/2006 4:15:02 PM.
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| Posted 8/1/06 4:14 PM |
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lululu
LIF Adult
Member since 7/05 9511 total posts
Name:
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Re: MLSLI question
Posted by Colleen9304
I actually saw that a lot with certain REA's. Prudential comes to mind. They would put $450k-$525k...meaning they would entertain offers between that range. (I haven't looked since Feb of this year - but I was looking since May 2004.)
Your offer isn't all about the money within the offer. It's about what you'll be putting down, what you have to mortgage, when you can move, when they can move, etc. So if you've got two couple's coming in and one is offering $500k with 10% down and can move whenever and the other is offering $485k with 20% down and is also flexible on moving date...the seller might entertain the $485k offer - try to get them to come up perhaps - but they might feel more secure with a larger DP, thus less to mortgage and more security (in their minds) for obtaining that mortgage.
You are SOOO right about it being more than the $$$ amount you offer. when we were selling FH's condo we got two offers right away - one for 679 but the woman needed to close on the sale of her house before she could close with us (she was already in contract with a buyer), and the other 650 all cash, closing immediately. We thought - no brainer - 679. well it was a NIGHTMARE. The womans buyers almost backed out and therefore our deal almost fell thru. And contrary to what you might think it is actually very hard to get the buyers deposit - even if they back out. so next time i would give a lot lot lot more weight to the all cash offer!!!
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| Posted 8/1/06 4:17 PM |
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lululu
LIF Adult
Member since 7/05 9511 total posts
Name:
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Re: MLSLI question
Interestingly enough when i was selling people told me to drop the price significantly to create some type of bidding war situation. to me - this was crazy. if you drop the price in today's market - no one is offering you over the asking price no matter how low you go. and the chance of a bidding war nowadays is slim to none!!! Luckily i didnt listen to this....
But i am thinking maybe they have that type of mentality with this range too - like if i get it low enough it will drum up so much interest that people will bid it up.....
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| Posted 8/1/06 4:20 PM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: MLSLI question
hmmm..i just looked on MLS - didnt put in a price range...and if the house is listed as a price range, it falls where the price range is the highest 
dumb MLS!
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| Posted 8/1/06 4:22 PM |
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lululu
LIF Adult
Member since 7/05 9511 total posts
Name:
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Re: MLSLI question
I just put in 600k as my max and I got one house with a range of $589-$635. I wonder how MLS is set up - maybe it doesnt allow the range so you have a choice of putting in the highest or the lowest????
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| Posted 8/1/06 4:25 PM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: MLSLI question
Posted by lululu
I just put in 600k as my max and I got one house with a range of $589-$635. I wonder how MLS is set up - maybe it doesnt allow the range so you have a choice of putting in the highest or the lowest????
yea you are right....but It was at the end right? You would think that they would set it up so it would fall next to a house that was $589??
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| Posted 8/1/06 4:28 PM |
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lululu
LIF Adult
Member since 7/05 9511 total posts
Name:
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Re: MLSLI question
Posted by Meaghan729
Posted by lululu
I just put in 600k as my max and I got one house with a range of $589-$635. I wonder how MLS is set up - maybe it doesnt allow the range so you have a choice of putting in the highest or the lowest????
yea you are right....but It was at the end right? You would think that they would set it up so it would fall next to a house that was $589??
Yes it was at the end! Very weird - the mysteries of MLS!!!! Maybe it is their way of telling agents that the range is a stupid idea!!!!
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| Posted 8/1/06 4:29 PM |
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Kate07
Feel better my little guy!
Member since 5/05 4476 total posts
Name:
Kate
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Re: MLSLI question
That cracks me up so much. In our building they had two co-ops for sale like that.
A stuid for 199k-299k and a two bedroom for 469k-569k.
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| Posted 8/1/06 4:53 PM |
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-Lisa-
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Member since 5/05 6530 total posts
Name:
Lisa
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Re: MLSLI question
the range thing isn't new - they had it when I was looking at houses 2 years ago.
I never understood it. I bid on one, in the low end of the range, and the realtor thought I was crazy for even thinking they'd entertain my offer. Whats the point?
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| Posted 8/1/06 5:04 PM |
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: MLSLI question
Posted by -Lisa-
the range thing isn't new - they had it when I was looking at houses 2 years ago.
I never understood it. I bid on one, in the low end of the range, and the realtor thought I was crazy for even thinking they'd entertain my offer. Whats the point?
 now THAT is messed up! IMO, realtors are pigs... that's right, I said it! OINK! 
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| Posted 8/1/06 5:51 PM |
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Freddie
LIF Adult
Member since 3/06 1162 total posts
Name:
Freddie
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Re: MLSLI question
I thought it was for the time of bidding wars. I don't know why they would do it now.
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| Posted 8/2/06 8:31 AM |
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