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Please help me understand these listings in my area

I'm looking for my first home in the greater sacramento area, and I just don't understand some of these postings...

  1. Check out this home in CA: sold on 5/9/2022 for $782,000, then listed for sale on 6/23/2022 for $800,000?? Why would anyone do that? The fees and paperwork surely would cost more than the profit.

  2. This one isn't as extreme... sold 10/17/2022 for $447,615, listed 12/15/2022 for $499,999 (+11.7%). But this was after the housing market started to go south (prices have gone down ~10-15% in the last 5 months) and in a not-great area, with plenty of competition... I can't believe anyone thinks this would sell.

  3. This one is a bit different, it was sold for $900k on 5/31/2022 and then listed immediately for $1.3M, and then over 6 months they've lowered it to $800k. I have so many questions... like, why would anyone think someone would buy it for $1.3M when it literally just sold for $900k? It's not like they are claiming massive remodeling or something. Is this how flippers think?

This is not silicon valley in 2015, it's Bumsville, CA. This thing seems to be a pure investment (i.e. you can't live it, it has tenants) with a rental income of $4800, or .37% of purchase price of $1.3M/month, which is very low, I think you'd do better with treasury bonds. And now, they are offering it at a loss... are they just panicked?

  1. This one sold in July for $300k, listed for $464k on 10/22/2022 (again, after the market started free falling), and now they've backed it down to $390k... are they simply hoping for a buyer that thinks the market prices have gone up 30% in the last 6 months?
submitted by /u/ganjaptics
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/zx4yms/please_help_me_understand_these_listings_in_my/
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