Why would a buyer want to sell the next month at a loss?
https://www.zillow.com/homedetails/802-Cherry-Orchard-Pl-Santa-Clara-CA-95051/82963502_zpid/ The house was sold for 2.23 in May-2022, and immediately listed for 2.15 the next month. Worse, they have been reducing the price since then. What could be the reason? #mortgage #housing
Lost their job? Either super rich and don’t give an F about the loss or now broke and can’t afford it anymore.
Buyers remorse?
There's probably a lot of people who bought snap shares at $75 and sold them at $70 who would sell a house at a loss like this and be very happy. Same concept
It’s bought/listed by open door - their model got screwed up just like Zillow. Made heavy investments in the Bay Area
makes sense!
is there a way to find houses listed by Opendoor, or zillow?
Ghosted house
Recruiter didn't email back to the house?
Possible that they made the offer at the peak of the market and then tried to back out but were forced into specific performance by legal means to consummate the contract. Now they are cutting losses out of fear the market tanks
They cant afford it on their TC which is probably how they convinced the bank to approve of the jumbo loan in the first place It’s better to cut your loses and move in quickly OR They want to entice offers to start a bidding war OR There’s something wrong with the house or the fact that homeless bums and crack heads have taken over and now they want to leave OR Etc
You will see more and more sell at loss in the coming months
Divorce
Layoff?