I’m still here PD. Someone said to me the other day that they think the realtors are trying to keep the prices inflated here. Did you happen to see the the new listing for 630 B Ave? MLS #070049217. $3825000-4250000! In my opinion that is at least $1.5M overpriced. Why would a realtor list it for such a ridiculous figure in this market? Regarding all of the new construction under $2M, I would never consider a 2 on 1 on a 3500 sqft lot. I would consider a “traditional” billy box but I can’t believe that they are now putting 2 houses on one lot and trying to get $1.4M-over $1.5M for them. Look at 837 C Ave. They are asking $1535000 for the front house. Would you ever consider one of the back houses? I can’t imagine who would and my realtor told me that there are 28 more similar units currently under construction. The “traditional” billy boxes are now priced upwards of $2M. The 2 new constructions in the 200 block of J have been on the market forever and have dropped in asking price from $1.98M to $1.68M but still no takers. There are 2 resales in the 800 block of H. One is listed for $1895000(reduced from $1.95M) and the other is listed for $2.1M! 841 B was listed for $1849000 and went pending in just a couple of weeks! That same property was on the market last summer for over $2M. Bottom line, my opinion is that sellers here don’t believe prices are dropping and the local realtors are trying to support that delusion. I’ll sit on the sidelines in my rental for now. I expect to remain there for at least a couple of years. I’d like to get a nice house on a 7000 sqft lot in a good location for under $2M. I suspect that you’re looking for the same thing as are many many people I know who are also waiting and watching.
