They should create a “Delusion Chart” which shows original list price vs. final sales price. Would be very telling on what areas are worth waiting to buy based on the sellers’ level of delusion about their home’s value.

They should create a “Delusion Chart” which shows original list price vs. final sales price. Would be very telling on what areas are worth waiting to buy based on the sellers’ level of delusion about their home’s value.

I am sorry to poop on this chart but it is meaningless to me.

How does the discount calculation get done for a price range? Do they use the lowest or the highest value? What if the sale is a short sale? What if the sale had an agreed to price but then the price was modified because the home did not appraise? What about concessions that were made for repairs or other credits back?

Also in reference to what Dave wrote, a measure of sellers delusion would be more useful or to put it in more practical terms a comparison of what zips have fallen more verses others is most important.

I believe Esmith has that CS analysis based on zip codes on his website.

I am sorry to poop on this chart but it is meaningless to me.

How does the discount calculation get done for a price range? Do they use the lowest or the highest value? What if the sale is a short sale? What if the sale had an agreed to price but then the price was modified because the home did not appraise? What about concessions that were made for repairs or other credits back?

Also in reference to what Dave wrote, a measure of sellers delusion would be more useful or to put it in more practical terms a comparison of what zips have fallen more verses others is most important.

I believe Esmith has that CS analysis based on zip codes on his website.

I am sorry to poop on this chart but it is meaningless to me.

How does the discount calculation get done for a price range? Do they use the lowest or the highest value? What if the sale is a short sale? What if the sale had an agreed to price but then the price was modified because the home did not appraise? What about concessions that were made for repairs or other credits back?

Also in reference to what Dave wrote, a measure of sellers delusion would be more useful or to put it in more practical terms a comparison of what zips have fallen more verses others is most important.

I believe Esmith has that CS analysis based on zip codes on his website.

Ditto what SD R said.

Here are a couple takeaways:

Expensive unique homes in beach areas (LJ, SB) which are difficult to price sell at values the market determines rather than comps which are hard to come by.

Distressed east county markets (Ramona, VC, Alpine) have no buyers and get slaughtered.

Looking at the least discounted markets (follow linky) and you will see the foreclosures havens where asking prices are heavily discounted already provide little room to negotiate. nothing surprising there.

Ditto what SD R said.

Here are a couple takeaways:

Expensive unique homes in beach areas (LJ, SB) which are difficult to price sell at values the market determines rather than comps which are hard to come by.

Distressed east county markets (Ramona, VC, Alpine) have no buyers and get slaughtered.

Looking at the least discounted markets (follow linky) and you will see the foreclosures havens where asking prices are heavily discounted already provide little room to negotiate. nothing surprising there.