Home Price Double Dip Begins

[bearishgurl]

[quote=permabear]I just sold my home in 2 days because I priced it “just right”. I got a fair price – not too low, not too high.[/quote]

Good for you, permabear!

[FormerOwner]

I sold my house in the spring of 2006 – priced it at the low end of the range of properties listed for sale in that area – and it sold very quickly. All my neighbors thought I sold it too low and were mad at me for ruining the comps. Well, now the values in that neigborhood are 250K below what I sold it for! Actually, a couple of the people that told me I was selling it too cheap actually lost their homes to foreclosure.

More recently, I have friends that have been trying to sell their house this year but have listed it a little high as compared to actual sold comps and at the high end of the range of listings. They actually refused an offer because it was 20K or so below what they *thought* it was worth. Well, they are still trying to sell it!

[FormerOwner]

I sold my house in the spring of 2006 – priced it at the low end of the range of properties listed for sale in that area – and it sold very quickly. All my neighbors thought I sold it too low and were mad at me for ruining the comps. Well, now the values in that neigborhood are 250K below what I sold it for! Actually, a couple of the people that told me I was selling it too cheap actually lost their homes to foreclosure.

More recently, I have friends that have been trying to sell their house this year but have listed it a little high as compared to actual sold comps and at the high end of the range of listings. They actually refused an offer because it was 20K or so below what they *thought* it was worth. Well, they are still trying to sell it!

[FormerOwner]

I sold my house in the spring of 2006 – priced it at the low end of the range of properties listed for sale in that area – and it sold very quickly. All my neighbors thought I sold it too low and were mad at me for ruining the comps. Well, now the values in that neigborhood are 250K below what I sold it for! Actually, a couple of the people that told me I was selling it too cheap actually lost their homes to foreclosure.

More recently, I have friends that have been trying to sell their house this year but have listed it a little high as compared to actual sold comps and at the high end of the range of listings. They actually refused an offer because it was 20K or so below what they *thought* it was worth. Well, they are still trying to sell it!

[FormerOwner]

I sold my house in the spring of 2006 – priced it at the low end of the range of properties listed for sale in that area – and it sold very quickly. All my neighbors thought I sold it too low and were mad at me for ruining the comps. Well, now the values in that neigborhood are 250K below what I sold it for! Actually, a couple of the people that told me I was selling it too cheap actually lost their homes to foreclosure.

More recently, I have friends that have been trying to sell their house this year but have listed it a little high as compared to actual sold comps and at the high end of the range of listings. They actually refused an offer because it was 20K or so below what they *thought* it was worth. Well, they are still trying to sell it!

[FormerOwner]

I sold my house in the spring of 2006 – priced it at the low end of the range of properties listed for sale in that area – and it sold very quickly. All my neighbors thought I sold it too low and were mad at me for ruining the comps. Well, now the values in that neigborhood are 250K below what I sold it for! Actually, a couple of the people that told me I was selling it too cheap actually lost their homes to foreclosure.

More recently, I have friends that have been trying to sell their house this year but have listed it a little high as compared to actual sold comps and at the high end of the range of listings. They actually refused an offer because it was 20K or so below what they *thought* it was worth. Well, they are still trying to sell it!

[scaredyclassic]

do you think the prospect of a couple years free squatting rent changes things? I wonder on the house we were negotiating for recently and were only $9,000 apart, if the selelr was thinking, hell, if I cannot get out of this with my $10 or 20k or whatever in equity (which i estimated he had) then maybe I the seller should just say screw it, take the credit hit and just squat. I bet when the sale is close to break even, it’s got to be at minimum a fleeting thought if not a major consideration. My wife says I’m crazy for thinking this way…but…who not price it high — and either make your money thru a lucky sale or in the alternative a sad aquat.

[scaredyclassic]

do you think the prospect of a couple years free squatting rent changes things? I wonder on the house we were negotiating for recently and were only $9,000 apart, if the selelr was thinking, hell, if I cannot get out of this with my $10 or 20k or whatever in equity (which i estimated he had) then maybe I the seller should just say screw it, take the credit hit and just squat. I bet when the sale is close to break even, it’s got to be at minimum a fleeting thought if not a major consideration. My wife says I’m crazy for thinking this way…but…who not price it high — and either make your money thru a lucky sale or in the alternative a sad aquat.

[scaredyclassic]

do you think the prospect of a couple years free squatting rent changes things? I wonder on the house we were negotiating for recently and were only $9,000 apart, if the selelr was thinking, hell, if I cannot get out of this with my $10 or 20k or whatever in equity (which i estimated he had) then maybe I the seller should just say screw it, take the credit hit and just squat. I bet when the sale is close to break even, it’s got to be at minimum a fleeting thought if not a major consideration. My wife says I’m crazy for thinking this way…but…who not price it high — and either make your money thru a lucky sale or in the alternative a sad aquat.

[scaredyclassic]

do you think the prospect of a couple years free squatting rent changes things? I wonder on the house we were negotiating for recently and were only $9,000 apart, if the selelr was thinking, hell, if I cannot get out of this with my $10 or 20k or whatever in equity (which i estimated he had) then maybe I the seller should just say screw it, take the credit hit and just squat. I bet when the sale is close to break even, it’s got to be at minimum a fleeting thought if not a major consideration. My wife says I’m crazy for thinking this way…but…who not price it high — and either make your money thru a lucky sale or in the alternative a sad aquat.

[scaredyclassic]

do you think the prospect of a couple years free squatting rent changes things? I wonder on the house we were negotiating for recently and were only $9,000 apart, if the selelr was thinking, hell, if I cannot get out of this with my $10 or 20k or whatever in equity (which i estimated he had) then maybe I the seller should just say screw it, take the credit hit and just squat. I bet when the sale is close to break even, it’s got to be at minimum a fleeting thought if not a major consideration. My wife says I’m crazy for thinking this way…but…who not price it high — and either make your money thru a lucky sale or in the alternative a sad aquat.

[FormerOwner]

Good point. I wouldn’t be surprised if a lot of people think like that. In my friends’ case, they have quite a bit of equity in the house and if they sold it today at a realistic market price they would end up with quite a bit of cash. However, they would not get back all the cash they put down on the house and I think they haven’t come to terms with that. They are like the banks – they don’t want to recognize their loss, I think.

[FormerOwner]

Good point. I wouldn’t be surprised if a lot of people think like that. In my friends’ case, they have quite a bit of equity in the house and if they sold it today at a realistic market price they would end up with quite a bit of cash. However, they would not get back all the cash they put down on the house and I think they haven’t come to terms with that. They are like the banks – they don’t want to recognize their loss, I think.

[FormerOwner]

Good point. I wouldn’t be surprised if a lot of people think like that. In my friends’ case, they have quite a bit of equity in the house and if they sold it today at a realistic market price they would end up with quite a bit of cash. However, they would not get back all the cash they put down on the house and I think they haven’t come to terms with that. They are like the banks – they don’t want to recognize their loss, I think.

[FormerOwner]

Good point. I wouldn’t be surprised if a lot of people think like that. In my friends’ case, they have quite a bit of equity in the house and if they sold it today at a realistic market price they would end up with quite a bit of cash. However, they would not get back all the cash they put down on the house and I think they haven’t come to terms with that. They are like the banks – they don’t want to recognize their loss, I think.

[Author]

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