Some of the people I have been working with recently have not prepared the home to sell properly, basically ignoring my advice. They are also priced to high and IMO will not sell. I have told these clients over and over again what they need to do and how they need to price. The homes that were priced properly and spruced to show did indeed sell. The majority of these sellers simply have built up equity and are not what I would classify as motivated. Others are just well… I hate to say this… stupid…
Example… seller in Encanto… not a great neighborhood. Has a ton of equity and has his home priced about 10% to high. Still got an offer 25k below his low end… He didn’t wanna touch it. Mind you this is after 60 days of NO activity. He said that with that offer he couldn’t move to the Eastlake home he wants without pushing his mortgage up a few hundred dollars. He cannot fathom that the value of his home in Encanto will NEVER achieve a value level of that of Eastlake. Regardless of what the market does, Eastlake will always be a better place to live then Encanto. He seems to think that somehow he will get an appreciation rate in Encanto that will outperform Eastlake, then he will sell his Encanto home, buy in Eastlake and then realize an increased appreciation rate in Eastlake.
sdrealtor works in a more high end area while I am all over the county. The clients I have that lived in his neck of the woods indeed did prep thier homes much better and were more price competitive.
So your statement about alot of inventory being pure crap… Inventory is inventory right? I think there is pure crap regardless of the market conditions dont you? In good times the pure crap sells and in bad times it doesn’t but it is still inventory. I wouldn’t discount the crap now like you are implying because it cannot be discounted during good times… Maybe it could be argued that in good times the ratio of crap to good homes is even WORSE then in hard times!
I couldn’t tell you why Zip and MLS differ. I “believe” that like any other on line MLS provider Zip indeed receives all of the listings from the MLS itself. Now recall that the Sandicor MLS does have listings in shadow zips, Imperial and Riverside county etc… So the more in depth way to do it would be to go by zip codes only. Then throw out the shadow zip codes of the MLS.
