Past sales history on a property higher than asking price.
3 Replies
Daniel Tsikata
Investor from Manassas Park, Va
posted about 1 year ago
I am interested in buying a property but found out that the last time it sold was in 2007 and the amount it sold for is way higher than the amount it's currently listed for. Could this be a bad deal and is it possible that it could depreciate further after some years?
Mary M.
Rental Property Investor from Portland OR
replied about 1 year ago
It sold right before the market collasped during the great recession. Lots of areas have not yet recovered to that price level.
Check other area homes to see if you see a pattern.
Daniel Tsikata
Investor from Manassas Park, Va
replied about 1 year ago
@Mary M. Makes sense, that could explain it. Homes in other areas close to where the property is seem to be increasing in value yearly. Thanks for your quick response
Theresa Harris
replied about 1 year ago
As Mary said, prices don't always go up.