Another range priced home hit the market today,
6020 N Desert Moon Ct in Ventana CC was re-listed today and range priced; Seller will accept or counter offers $995,000-$1,195,000.
(It had been listed for $1,175,000 and not range priced)
So, as the game is played, if you intend to play by the rules your offer must fall within the range. If it doesn’t, presumably, it will be rejected, or ignored, or politely declined.
That’s the theory. But in practice, things often work out quite different.
I perused the MLS for range priced homes sold in the last few months, and here’s what I found happens when push comes to shove
| Range Priced | Sold |
| $207,000 - $230,000 | $207,000 |
| $339,000- $375,000 | $324,900 |
| $345,000- $359,000 | $341,500 |
| $499,000 - $525,000 | $460,000 |
| $650,000- 699,000 | $596,600 |
| 675K + 700K | 640k |
| $695,000 - $725,000 | $665,000 |
| $699,000 - $729,000 | $685,000 |
| $725,000 - $745,000 | $725,000 |
| $1,100,000-$1,249,000 | $1,100,000 |
I mentioned this range pricing phenomena the other day;
Also, I’ve noticed a spurt of range pricing lately and all I can figure is that sellers are trying to avoid getting, what they would consider, low-ball offers. So be it. They own it, they can price it wherever and however they want. On the other hand, considering the market, I wonder if, in doing so, instead of encouraging offers in the range, that they risk discouraging any offers at all.
Judging from that list of range priced homes that sold, it would seem that sellers are not discouraging any offers at all. And that buyers, at least some of them, are ignoring the range and offering what they want and that sellers are playing ball.
But I still don’t buy it, because we only know that about those that have sold. And there are 39 others for sale that have not sold. What’s holding them back.
And who cares about the range, it could be $1.0 to $10.0, the bottom of it is the only number that matters. The problem with most range priced homes is that, just like non-range priced homes, they're overpriced, that is, the bottom of the range is too high to invite interest.
Because if buyers are going to come in at all, are any of them going to come in at more than the bottom of the range. I’ve yet to see it.
The moral of the story; if you see a range priced home that you like, but you don’t like the bottom of the range, go for it, for what makes sense to you.
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