Forbes reports on the most overly priced homes in America- listing unadaptive sellers as the primary reason for this trend.
Ranking 40 major metropolitan area cities, Forbes looked to how many days homes spent on the market to determine if they were overpriced.
However, according to Marty Kramer of Texas Real Estate, in actuality homes do not sell for these overpriced rates. He suggests that homes are sold below asking price due to negotiation between buyers and sellers that brings the home price closer to it’s actual value.
It’s for reasons such as this, Marty claims, that perhaps the four major Texas cities that made the list (including San Antonio at #6!), are “underanalyzed” rather than “overpriced.”
Click here to read the entire article at forbes.com or here to read Texas Real Estate’s response.
{ 2 comments… read them below or add one }
Are the Homes in the Most Overpriced Cities in America “Overpriced” of “Underanalyzed?”
Please explain the quoted statement above. Was there a mistake? Perhaps you should edit?
Izzy
Good catch, thank you.