Talked with a realtor at a coffee shop who said most sellers are pricing homes based on what they need, not what they're worth

She told me three sellers this week alone listed 20k above comps just to cover their next down payment. Does that match what you all are seeing in the current Albuquerque market?

3 comments

3 Comments

emerychen12d ago

Funny timing on this, my neighbor just listed his house for 15k over what the appraiser said it was worth. He told me straight up he needed that extra cash to cover his kid's college tuition next semester. So yeah, it seems like folks are just picking numbers based on what life throws at them, not what the market says.

dixon.amy11d ago

My brother in law did the same thing last year with his truck. Listed it for 4 grand over what the blue book said because he needed to pay off a medical bill. I see this pattern everywhere now. People just look at what they owe or what they need and tack it on top of the price. It's like nobody trusts the numbers anymore, they just trust their own bank account. The whole system feels broken when a kid's tuition decides what a house sells for.

knight.diana11d ago

@dixon.amy I get what you're saying but I think the blue book never really told the whole story anyway, it was just a rough guess. In my experience people price things based on what they see similar stuff sell for, not some book from a company. Plenty of trucks and houses go for way over the "official" price every day and that's just supply and demand working out.