When is Price not Price?
Homebuyers searching in Tahoe this spring are facing the frustrating reality that price is not price. On the contrary, the asking price of a home in today’s hot market is more like a starting point.
Once buyers get through the front door and have fallen in love with what they see, they often find themselves in competition with others who are swooning over the same property. In some cases, many others.
One 3-bedroom cabin in Tahoe Donner got 18 offers the first week it was on the market, and closed for cash at more than $100,000 over asking (plus a generous sum for the used furniture). It backed to open space, but it did not have a garage. And like many sales this year, it was priced more than $100,000 below where it…