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This house was listed on the 11th for 1.25M with a review date on the 15th. Then on 14th they increased the price to 1.75M with same offer review date. https://www.redfin.com/WA/Bellevue/14829-SE-18th-Pl-98007/home/425913 What's going on here ? Were they getting to many offers or tours and realized it's a waste of time ? Is this a strategy of some kind ? I've never seen this before.
@op So you seriously thought you can get a 8700 lot size sfh for 1.25M in bellevue? It’s not 2020 buddy.
They wanted a bidding war. It seems it didn't get what they wanted
And you seriously think that buyers will pay same price as they would pay when interest rates were 2.5%?… we may likely see 2020 prices in a couple of months
Also…. It was a flip. It was just sold for almost $1.5 a few months ago. Not going to take a loss.
lol, you're right. Listed for 900k, sold for 1.5M :O. This looks like a corporate flipper - RIVERLAKE ESTATES Looks like they did a full remodel. I don't think they'll be making much profit on this. Probably cost them another 400k in remodel costs and transaction fees - don't think they can get over 2M for this.
Bad time to flip honestly!
They have an offer already at higher price and looking to bridge the appraisal gap
Damn I liked that house and couldn’t even afford it at 1.25. Renting forever I guess.
Seattle area has too high of home ownership due to the demographics. As a result, rent price is much lower than other cities. See for yourself. I am a homeowner but wouldn’t buy houses to rent it this area because it will be significant cash negative. Besides this is not real Bellevue. It is the worst area in Bellevue. When housing downturn starts, area like this can’t sell a house. This is an area my realtor (lived in the area for 35 years) was recommending to avoid. Highest crime area in Bellevue.
Yup, not really the best part of Bellevue, areas below I-90 or areas west of 405 are the ones to look at. Easiest way to tell is to look at the school district
Listing description clearly says “New price to reflect early offers, interest……”
They got tired of receiving low offers and had plenty of much higher offers. “New price to reflect early offers, demand and interest! “
(Over) smart move to create a panic among buyers. They probably aren’t getting any offers (at the price they like) so increased the price so that potential buyers would think there is a lot of competition and end up bidding up even higher. Have seen these tricks far too many times
I hope they only get offers for the first number
Saw this house. Bad white collar neighborhood. Not worth 1.25M even, which was the original price. Other houses in this area wound be below 1M