- This topic has 16 replies, 11 voices, and was last updated 16 years, 8 months ago by
bob007.
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September 7, 2007 at 5:05 PM #10203September 7, 2007 at 5:12 PM #83808
SD Realtor
ParticipantI guess I disagree MM…
Actually I think she is making a point that most people on Piggington complain about. She is simply implying, don’t take listings for sellers who are thinking about fetching an unrealistic price. Don’t waste time with unmotivated sellers whose homes will simply sit on the market and not do anything.
I don’t like her underlying reasoning that this will do nothing but add to the inventory numbers but overall I think her message is not bad.
How many posts have we seen where someone raves about some overpriced home saying, “What is this seller thinking?”
September 7, 2007 at 5:21 PM #83810bsrsharma
ParticipantSD has a point. When I want to scan for listings, I filter out all ads that don’t have either “Motivated Seller” or “Price Reduced” in them. With the markets being what they are, why would you want to even consider buying from anyone who is not most desperate?
September 7, 2007 at 5:30 PM #83812Bugs
ParticipantWith much respect for our resident agents here, I tend to look at L.A-Y comments with a jaundiced eye. The conspiracy theorist in me sees ulterior motives in the shadows of these comments.
They’re probably thinking they can manipulate the market psychology a little better by reducing the ratio of listings to sales. Having 11 months of inventory on tap contributes to the mass awareness that prices must fall. Reduce that overhang to only 6 months and its easier for the bulls to argue that now is a great time to buy and you’d better hurry up before the market takes off again.
September 7, 2007 at 5:36 PM #83815ParticipantThere is no doubt that the way she whined in the article about adding to the inventory lends creedence to your point Bugs. The motives from CAR, NAR or SDAR are and will always be to promote real estate regardless of the market conditions.
Yet to advocate not to take listings from unrealistic sellers is inherently good for all parties involved regardless of the motive don’t you think?
SD Realtor
September 7, 2007 at 6:46 PM #83820
CoronitaParticipantI guess I disagree MM…
Actually I think she is making a point that most people on Piggington complain about. She is simply implying, don't take listings for sellers who are thinking about fetching an unrealistic price. Don't waste time with unmotivated sellers whose homes will simply sit on the market and not do anything.
I don't like her underlying reasoning that this will do nothing but add to the inventory numbers but overall I think her message is not bad.
How many posts have we seen where someone raves about some overpriced home saying, "What is this seller thinking?"
SD R,
Funny you should mention this. Guess who recently just relisted her 2/2 condo? Yup, that's right. Ms. Fishtank lady herself.
http://sandiego.houserebate.com/search/homeview.asp?id=1666225&p3=-1&ix=78
It's the fishtank that makes the $30k difference, right?
All together now. WHAT THE HELL IS THIS SELLER THINKING????
September 7, 2007 at 6:58 PM #83822ParticipantFLU you are the man!
As you know I have had many a conversation with this seller. Her thoughts are way out there man…
SD Realtor
September 7, 2007 at 7:15 PM #83823NotCranky
ParticipantHow about the telescope? is that for looking at the neighbor’s fish?
September 7, 2007 at 7:16 PM #83824Arraya
ParticipantThat seems like a good thing regardless of the reasoning. Essential wouldn’t that push prices down quicker? Which in turn would correct the market that much sooner.
September 7, 2007 at 7:17 PM #83825ParticipantSD_R
I’m sure you’re right and I can certainly see the merits of telling some of these sellers “no”. Maybe I should dial the paranoia level down a bit.
September 7, 2007 at 7:32 PM #83826temeculaguy
ParticipantRealtors should refuse listings from unrealistic buyers, not to manipulate the market but to keep from wasting their time. The Moreno Valley realtor in the article cited a 36 month supply, with 59 sales and 2200 listings. If each buyer viewed 15 homes before buying only half of the listings even had one showing. I’ll bet they are running low on lockboxes and signs.
September 8, 2007 at 9:15 AM #83859MANmom
ParticipantI agree with you SDR, a prime example of listing unrealistically is 7449 Park Village road in PQ. What is this owner thinking? $925,000 for 2,276 sq.ft., 5,000 sf lot, nothing special. A house just 4 addresses down the street on the same side of Park Village sold for only $625,000 recently. Yes, it was smaller, but only by a few hundred square feet and one bedroom. Since when was one bedroom worth $300,000? This is one listing that is in the dreaming catagory.
My post was simply an observation that Realtors are in business to list and sell properties, not to talk an owner out of listing. Yes, they need to give their informed opinions of what price can be acheived, but if the owner doesn’t take that advice, should you not take the listing? Kind of reminds me of the old caveat “the customer is always right”. To blatently tell people in her profession not do business is a laugh to me.
MANmom
September 8, 2007 at 9:48 AM #83860CoronitaParticipantFLU you are the man!
As you know I have had many a conversation with this seller. Her thoughts are way out there man…
SD Realtor
Guess she didn't take a look at recent comps.
Pending:
Address Zip LP BR BA ESF LP/ESF Built OMD 12613 EL CAMINO REAL F 92130 499,000 2 2.5 1351 369.36 1998 8/18/2007 3 bedrooms
12615 EL CAMINO REAL D 92130 546,000 3 2.5 1533 356.16 1998 7/16/2007 12627 EL CAMINO REAL #A 92130 549,900 3 3 1584 347.16 1998 9/4/2007 Similar offerings (doens't include any seller (owner) "incentives" which I'm sure exists)
sold
3802 MYKONOS LANE 22 92130 484,900 2 2.5 1231 393.91 2002 7/27/2007 3798 MYKONOS LANE 32 92130 475,000 2 2.5 1231 385.87 2002 5/23/2007 3802 MYKONOS LANE 21 92130 467,400 2 2.5 1231 379.69 2002 6/1/2007 3808 MYKONOS LANE 18 92130 484,900 2 2.5 1231 393.91 2002 5/25 3810 MYKONOS LANE 7 92130 487,400 2 2.5 1231 395.94 2002 8/21/2007 3798 MYKONOS LANE 31 92130 489,900 2 2.5 1231 397.97 2002 7/20/2007 3792 MYKONOS LANE 36 92130 489,000 2 2.5 1231 397.24 2002 7/13/2007 3714 MYKONOS LANE 163 92130 489,900 2 2.5 1231 397.97 2002 7/30/2007 3798 MYKONOS LANE 30 92130 489,900 2 2.5 1231 397.97 2002 6/14/2007 3710 MYKONOS LANE 171 92130 480,000 2 2.5 1231 389.93 2002 6/14/2007 3712 MYKONOS LANE 167 92130 491,500 2 2.5 1231 399.27 2002 6/22/2007 3812 MYKONOS LANE 10 92130 472,000 2 2.5 1231 383.43 2002 7/27/2007 3716 MYKONOS LANE 162 92130 494,900 2 2.5 1231 402.03 2002 8/10/2007 3710 MYKONOS LANE 169 92130 492,000 2 2.5 1231 399.68 2002 6/29/2007 3712 MYKONOS LANE 168 92130 497,900 2 2.5 1231 404.47 2002 8/15/2007
3716 MYKONOS LANE 161 92130 500,000 2 2.5 1231 406.17 2002 6/4/2007 3796 MYKONOS LANE 28 92130 500,000 2 2.5 1231 406.17 2002 6/14/2007 3796 MYKONOS LANE 29 92130 477,600 2 2.5 1231 387.98 2002 6/26/2007 3808 MYKONOS LANE 17 92130 489,900 2 2.5 1231 397.97 2002 7/31/2007 3710 MYKONOS LANE 170 92130 499,900 2 2.5 1231 406.09 2002 8/17/2007 3792 MYKONOS LANE 35 92130 480,000 2 2.5 1231 389.93 2002 6/20/2007 September 8, 2007 at 10:19 AM #83861Peace
ParticipantYou used to always hear “motivated buyers only”
now that the tables have turned I would certainly check out a realtor that advertised “Motivated Sellers Only”
September 9, 2007 at 3:36 PM #83962bob007
Participantwhy do realtors care about unrealistic prices ? they did not seem to complain about prices on the way up even though the prospects of some buyers paying off the loan was unrealistic.
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