4S Ranch REO–still too high

[joebaduba]

Nancy,

my wife and I were back in Austin in April and looked at a lot of houses there. I grew up in Texas and went to school there at UT. You are correct that Austin is a different world from the rest of Texas. But the RE market there is one of those pockets in the country where prices are rising. Austin RE market has always had a habit of zigging when the rest of the country is zagging. It has always been the most expensive market in Texas, largely because of the obstacles to growth that have always won out there. But people love to live there, and for good reason. Most of the cool action there is close-in to downtown and the university. But you can head out to the lake too or hill country for the weekend. We love Fredericksburg. Concerts are always going on in Luckenbach. As the city spreads out to Round Rock and Leander, I worry that it becomes just another big town.

Home prices there are creeping up and the better areas seem to be looking at 350,000 – 400,000 easily now. The agents in the new models we looked at were all saying that fully a third of buyers are coming from CA. We asked about jobs and they all said the job market is great and lot’s of the californians are bringing their businesses with them. Property taxes are high but no state income tax offsets that for the most part.

One worrying sign – a couple of realty sites I surfed indicated that supply is down and investor activity is up in Austin. Let’s hope Austin stays weird and doesn’t become a lagging indicator.

[temeculaguy]

EX-SD, Thanks for the debate, when it’s all said and done the final result will probably end up somewhere in between our two opinions. There will still be Jumbo’s, people with 200k incomes will find them and 417K + a 20% down payment puts the conforming prices at 500k so we may see stuff in the 510-600 range feel the pull toward 500 where things sell.

[temeculaguy]

EX-SD, Thanks for the debate, when it’s all said and done the final result will probably end up somewhere in between our two opinions. There will still be Jumbo’s, people with 200k incomes will find them and 417K + a 20% down payment puts the conforming prices at 500k so we may see stuff in the 510-600 range feel the pull toward 500 where things sell.

[temeculaguy]

EX-SD, Thanks for the debate, when it’s all said and done the final result will probably end up somewhere in between our two opinions. There will still be Jumbo’s, people with 200k incomes will find them and 417K + a 20% down payment puts the conforming prices at 500k so we may see stuff in the 510-600 range feel the pull toward 500 where things sell.

[Coronita]

FLU after she bailed out I sent her email letting her know politely that if there is anything I could do to help her out to sell her home to let me know. She responded back asking me for a recommendation. I told her that my first recommendation would be to price the home at what I suggested when we first spoke over the phone before she listed which was in the mid 400's if she was really wanting to sell. She sent me an email telling me I had no idea how nice her home was, that it was by far the most elegant home in the complex and that the market would be far better next year. She said that I do a disservice to sellers by trying to get people to just dump their homes for nothing and that my estimates for sale were below all of the other professionals she spoke to and to make sure I never solicit her again! re the 3/3… I take it you mean 12627. It is an REO and it is priced at 549k. It used to be at 589k. It is still active on the market. (if this is the one you meant)

 SD R,

Sorry to hear that. I have a suggestion. If you haven't responded to fish-tank lady, how about (politely) showing the comps that have been there. I don't get what is soo much nicer about her unit than other 2/2s.

3 bed units are going for what she is asking for.

 

As far as the short sale unit. No, I meant MLS#076022906 that went pending (it was a short sale).Talked about it here:

http://piggington.com/looks_like_some_of_the_carmel_valley_condo_crackheads_are_starti

12627 was a bank owned (i know) .And it was 589k.Wow, didn't know the price was dropped to 549.

 I'm guessing well be seeing the low 5's soon. Just for kicks, I might talk to the listing agent at 12627 and see if the bank would be interested at $450k. Maybe bank needs to rid inventory??? 🙂

 

[Coronita]

FLU after she bailed out I sent her email letting her know politely that if there is anything I could do to help her out to sell her home to let me know. She responded back asking me for a recommendation. I told her that my first recommendation would be to price the home at what I suggested when we first spoke over the phone before she listed which was in the mid 400's if she was really wanting to sell. She sent me an email telling me I had no idea how nice her home was, that it was by far the most elegant home in the complex and that the market would be far better next year. She said that I do a disservice to sellers by trying to get people to just dump their homes for nothing and that my estimates for sale were below all of the other professionals she spoke to and to make sure I never solicit her again! re the 3/3… I take it you mean 12627. It is an REO and it is priced at 549k. It used to be at 589k. It is still active on the market. (if this is the one you meant)

 SD R,

Sorry to hear that. I have a suggestion. If you haven't responded to fish-tank lady, how about (politely) showing the comps that have been there. I don't get what is soo much nicer about her unit than other 2/2s.

3 bed units are going for what she is asking for.

 

As far as the short sale unit. No, I meant MLS#076022906 that went pending (it was a short sale).Talked about it here:

http://piggington.com/looks_like_some_of_the_carmel_valley_condo_crackheads_are_starti

12627 was a bank owned (i know) .And it was 589k.Wow, didn't know the price was dropped to 549.

 I'm guessing well be seeing the low 5's soon. Just for kicks, I might talk to the listing agent at 12627 and see if the bank would be interested at $450k. Maybe bank needs to rid inventory??? 🙂

 

[Coronita]

FLU after she bailed out I sent her email letting her know politely that if there is anything I could do to help her out to sell her home to let me know. She responded back asking me for a recommendation. I told her that my first recommendation would be to price the home at what I suggested when we first spoke over the phone before she listed which was in the mid 400's if she was really wanting to sell. She sent me an email telling me I had no idea how nice her home was, that it was by far the most elegant home in the complex and that the market would be far better next year. She said that I do a disservice to sellers by trying to get people to just dump their homes for nothing and that my estimates for sale were below all of the other professionals she spoke to and to make sure I never solicit her again! re the 3/3… I take it you mean 12627. It is an REO and it is priced at 549k. It used to be at 589k. It is still active on the market. (if this is the one you meant)

 SD R,

Sorry to hear that. I have a suggestion. If you haven't responded to fish-tank lady, how about (politely) showing the comps that have been there. I don't get what is soo much nicer about her unit than other 2/2s.

3 bed units are going for what she is asking for.

 

As far as the short sale unit. No, I meant MLS#076022906 that went pending (it was a short sale).Talked about it here:

http://piggington.com/looks_like_some_of_the_carmel_valley_condo_crackheads_are_starti

12627 was a bank owned (i know) .And it was 589k.Wow, didn't know the price was dropped to 549.

 I'm guessing well be seeing the low 5's soon. Just for kicks, I might talk to the listing agent at 12627 and see if the bank would be interested at $450k. Maybe bank needs to rid inventory??? 🙂

 

[sdrealtor]

“Only in CA will large numbers of people live 75 miles away from where they work to buy a cheaper home.”

Sorry but you are dead wrong on that. People on the east coast routinely commute 75 to 100 miles to jobs in NYC, Boston, DC and Philladephia for that very reason. Some commute even further….

[sdrealtor]

“Only in CA will large numbers of people live 75 miles away from where they work to buy a cheaper home.”

Sorry but you are dead wrong on that. People on the east coast routinely commute 75 to 100 miles to jobs in NYC, Boston, DC and Philladephia for that very reason. Some commute even further….

[sdrealtor]

“Only in CA will large numbers of people live 75 miles away from where they work to buy a cheaper home.”

Sorry but you are dead wrong on that. People on the east coast routinely commute 75 to 100 miles to jobs in NYC, Boston, DC and Philladephia for that very reason. Some commute even further….

[Ex-SD]

SD Realtor, you are absolutely right.

I did not clarify that I was excluding places where someone would have good access to mass transportation like New York City, Chicago, etc. Only a small percentage of people who work in these major cities commute by car from 75 miles away or further plus sit in stop & go traffic for long periods of time.

What I should have said was that only in CA would large numbers of people who had to travel by car to get to work……..live 75+ miles from their homes and sit in stop & go traffic for long periods of time, just to find a cheaper home.

[Ex-SD]

SD Realtor, you are absolutely right.

I did not clarify that I was excluding places where someone would have good access to mass transportation like New York City, Chicago, etc. Only a small percentage of people who work in these major cities commute by car from 75 miles away or further plus sit in stop & go traffic for long periods of time.

What I should have said was that only in CA would large numbers of people who had to travel by car to get to work……..live 75+ miles from their homes and sit in stop & go traffic for long periods of time, just to find a cheaper home.

[Ex-SD]

SD Realtor, you are absolutely right.

I did not clarify that I was excluding places where someone would have good access to mass transportation like New York City, Chicago, etc. Only a small percentage of people who work in these major cities commute by car from 75 miles away or further plus sit in stop & go traffic for long periods of time.

What I should have said was that only in CA would large numbers of people who had to travel by car to get to work……..live 75+ miles from their homes and sit in stop & go traffic for long periods of time, just to find a cheaper home.

[Ex-SD]

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[Ex-SD]

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