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My realtor pushed me into a bidding war and I regret it badly
Last Monday in Austin I let my agent talk me into offering $15k over asking on a 2-bedroom bungalow. We lost to a cash buyer anyway and now comps in that zip code have dropped 8% since September. I think first timers get way too scared about missing out and end up making hasty decisions. Has anyone else had an agent push them into something that didn't feel right?
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juliashah4mo ago
You said "comps in that zip code have dropped 8% since September" but that's not really how comps work with the MLS. Zillow and Redfin numbers can be misleading cause they often include stale listings or pending sales. What matters are closed sales from the last 60 to 90 days in your specific neighborhood, not the whole zip code. Did you check the actual sold data from your agent or just the online estimates?
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emmawood4mo ago
Funny you mention that @juliashah, because this whole thing reminds me of how people check weather apps and think it's going to rain all day, but then they step outside and it's sunny. The numbers on a screen don't always match what's really happening in the moment. Zillow and Redfin are like that weather app that's showing last week's forecast. Closed sales from the last 60 to 90 days in your own block or neighborhood tell the true story, not some big zip code average that includes houses nobody wants. It's wild how people trust those big numbers without checking if they're even real. You gotta look at the actual sold listings from a local agent, not just the online guesstimates.
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jackson.matthew4mo ago
My buddy in Atlanta got talked into 20k over asking and then the appraisal came in 15k under what he offered.
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