The number of wildly-over-the-list-price sales are slowing, but there are still a few happening. Here are five recent sales that closed for +19%, +12%, +23%, +14%, and +42% OVER their list price.
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I saw this house today. They spent $2 million on improvements over the last three years:
https://www.compass.com/listing/1414-lauren-court-encinitas-ca-92024/1592838314677108617/
Are the sellers kicking back a couple of hundred to the buyers under the table?
I remember hearing about this type of thing in tail end of the 2000s bubble.
Basically the “buyers” were using loaned money that was kicked back from the sellers to pay the mostgage and ride out the next upswing in home values.
Works great when it works. If banks aren’t foreclosing I guess you could just live in the house for free for a couple of years.