When Properties Seem Priced to Spur a Bidding War
March 24, 2011
The New York Times:
Despite the housing market slump, homes in some areas of the country are still selling above listing prices. In the Noe Valley area of San Francisco, where I live, for instance, a number of homes that seemed to be priced low ended up receiving multiple bids and selling for thousands of dollars over the asking price.
Academic papers on the topic of negotiation help explain why this phenomenon occurs and why those in the market for a home may want to stay away from properties offered at below-market prices, where multiple bids are being accepted.
Read the whole story: The New York Times
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