[vegaslocal55]

It seems to me these are priced higher than comps. Are they charging a premium because they're only available to owner occupants that first 14-30 days on the market? Are they willing to reduce their price in that initial period? Do they selll quickly? I'll be paying cash, so I don't need their mortgage. Thanks.

[macgeek]

I'm in the same boat as you, also keeping a eye on homepath for houses.
I don't see their prices to be that out of line with MLS

Jonathan

[sdreloc]

I don't see them as "way" out of line, but still high. Maybe a bit too high to fit under a regular bank appraisal.
There is a 1 bedroom condo in Centennial Hills listed through Homepath for $50,500 and I know there are recent comps in the 40's since I looked at property tax records for the address of the complex.

[Willy702]

I think they just price it more realistically from the start and have minimal bidding wars. I talked with my agent about a house he sold recently. He said it listed 3% under comps and received over 20 bids, but almost all of them were under list price and just hoping they'd get lucky with no other bidders showing up. They were left with two realistic bids and the winner was 2% over list so 1% under comps. He said when you price the house above comps you get 2 or 3 bids and usually sell for under list, but you avoid the hassle of dozens of bids and you end up with almost the same sale price anyways.

[FML157]

So Homepath is a listing service of REO homes owned by Fannie Mae, but do they also offer incentive programs (through their lenders) for certain buyers?

[sdreloc]

Originally Posted by Willy702

I think they just price it more realistically from the start and have minimal bidding wars. I talked with my agent about a house he sold recently. He said it listed 3% under comps and received over 20 bids, but almost all of them were under list price and just hoping they'd get lucky with no other bidders showing up. They were left with two realistic bids and the winner was 2% over list so 1% under comps. He said when you price the house above comps you get 2 or 3 bids and usually sell for under list, but you avoid the hassle of dozens of bids and you end up with almost the same sale price anyways.

Sometimes they do list them too high and reduce the list price later when there is no interest.