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SD Realtor.
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February 22, 2008 at 11:22 PM #158373February 22, 2008 at 11:22 PM #158445
an
ParticipantIn any event while there are those on the bord who say that the 7 offers that have been made determine the market I tend to disagree. First off maybe those people are electing to overpay. Maybe your house is worth less
Everyone offer to pay what they think a particular house is worth. So, no, they don’t think they are overpaying. You might think they are overpaying, but that just mean you think the house is worth less than they do. A house is worth what someone is willing to pay for it. If the seller decide to keep the house because other buyers don’t think it’s worth what he/she thinks it’s worth, then essentially, the seller are selling the house to themselves at the price they want.
Also, please don’t assume people on here are jealous of you because they don’t agree with you. It just make you sound pompous and arrogant. Many on here can easily buy a $1M house if they wanted to. They just don’t think the current $1M house is worth a $1M.
February 23, 2008 at 1:15 AM #158083Raybyrnes
ParticipantThank’s SD Realtor for filling that in. I knew there was seasonality leading up to the summer months. Just wan’t certain if it extended into summer. Now I know. Thank’s
February 23, 2008 at 1:15 AM #158376ParticipantThank’s SD Realtor for filling that in. I knew there was seasonality leading up to the summer months. Just wan’t certain if it extended into summer. Now I know. Thank’s
February 23, 2008 at 1:15 AM #158385ParticipantThank’s SD Realtor for filling that in. I knew there was seasonality leading up to the summer months. Just wan’t certain if it extended into summer. Now I know. Thank’s
February 23, 2008 at 1:15 AM #158393ParticipantThank’s SD Realtor for filling that in. I knew there was seasonality leading up to the summer months. Just wan’t certain if it extended into summer. Now I know. Thank’s
February 23, 2008 at 1:15 AM #158465ParticipantThank’s SD Realtor for filling that in. I knew there was seasonality leading up to the summer months. Just wan’t certain if it extended into summer. Now I know. Thank’s
February 23, 2008 at 9:54 AM #158187hipmatt
Participanthttp://redfin.com/stingray/do/printable-listing?listing-id=1474261
http://redfin.com/stingray/do/printable-listing?listing-id=1469315one of these? or these are the competition. But I would have offered less than 1.15 in this market which is clearly headed down. Yesterdays prices are now meaningless, just as the impressive performance of the patriots this year is also since another team will be remembered as the champions. Buyers are rightfully looking forward. Saying Carmel Valley won’t drop like the rest of SD county or that Morgan Hill is immune to the rest of the Temecula down fall is silly. Hopefully its not too late to accept one of those offers, either that or get used to your home.
February 23, 2008 at 9:54 AM #158478Participanthttp://redfin.com/stingray/do/printable-listing?listing-id=1474261
http://redfin.com/stingray/do/printable-listing?listing-id=1469315one of these? or these are the competition. But I would have offered less than 1.15 in this market which is clearly headed down. Yesterdays prices are now meaningless, just as the impressive performance of the patriots this year is also since another team will be remembered as the champions. Buyers are rightfully looking forward. Saying Carmel Valley won’t drop like the rest of SD county or that Morgan Hill is immune to the rest of the Temecula down fall is silly. Hopefully its not too late to accept one of those offers, either that or get used to your home.
February 23, 2008 at 9:54 AM #158488Participanthttp://redfin.com/stingray/do/printable-listing?listing-id=1474261
http://redfin.com/stingray/do/printable-listing?listing-id=1469315one of these? or these are the competition. But I would have offered less than 1.15 in this market which is clearly headed down. Yesterdays prices are now meaningless, just as the impressive performance of the patriots this year is also since another team will be remembered as the champions. Buyers are rightfully looking forward. Saying Carmel Valley won’t drop like the rest of SD county or that Morgan Hill is immune to the rest of the Temecula down fall is silly. Hopefully its not too late to accept one of those offers, either that or get used to your home.
February 23, 2008 at 9:54 AM #158498Participanthttp://redfin.com/stingray/do/printable-listing?listing-id=1474261
http://redfin.com/stingray/do/printable-listing?listing-id=1469315one of these? or these are the competition. But I would have offered less than 1.15 in this market which is clearly headed down. Yesterdays prices are now meaningless, just as the impressive performance of the patriots this year is also since another team will be remembered as the champions. Buyers are rightfully looking forward. Saying Carmel Valley won’t drop like the rest of SD county or that Morgan Hill is immune to the rest of the Temecula down fall is silly. Hopefully its not too late to accept one of those offers, either that or get used to your home.
February 23, 2008 at 9:54 AM #158571Participanthttp://redfin.com/stingray/do/printable-listing?listing-id=1474261
http://redfin.com/stingray/do/printable-listing?listing-id=1469315one of these? or these are the competition. But I would have offered less than 1.15 in this market which is clearly headed down. Yesterdays prices are now meaningless, just as the impressive performance of the patriots this year is also since another team will be remembered as the champions. Buyers are rightfully looking forward. Saying Carmel Valley won’t drop like the rest of SD county or that Morgan Hill is immune to the rest of the Temecula down fall is silly. Hopefully its not too late to accept one of those offers, either that or get used to your home.
February 23, 2008 at 10:29 AM #158217SD Realtor
ParticipantHi Ray –
Yeah the stats are pretty clear on that regardless of whether the secular trend is up or down. That is why I kept posting that I expected to see increased sales this spring. It is simply the seasonal behavior and it fits into the envelope of the overall secular depreciation trend well.
Also increased activity doesn’t always translate to higher prices because it really depends on the psychology of the buyers out there.
The biggest misunderstanding on this site is that Piggs way way way overestimate the reticence of buyers out there to indeed buy. I will say that buyers are as a group becoming much more aware of the power they have, yet they also battle their own impatience to own as well thus in some respect they do feed the sticky mouths of the sellers out there.
Wanttosell is a good example of this. I would imagine that receiving 7 offers in the first few weeks of a listing that are only 10% under asking will indeed indicate a heavy level of interest in the home and most likely result in a buyer actually coming closer to the asking price soon.
Alternately many many sellers also fail to understand that the first couple weeks are THE ABSOLUTE BEST time for a listing. I could not advocate strongly enough that getting a deal done with the first few that come in is pretty important. Passing on them or playing hardball with them is essentially adding risk to the listing.
This also is a very good example of the frustration that I believe some people have posted here about homes that they visited, and even made offers on that were rejected only to see the homes sell months later at offers at or even LESS then the offer they made.
Wanttosell I am not trying to be rude to you. I try not to do that on this post. Your home may or may not sell close to or at your asking price. It will be an interesting call. All I am saying is that you are quite representative of many of the non distressed sellers out there. (I am assuming you are not selling because of financial distress and have a fair amount of equity in your home) Perhaps I am wrong. Deep down you may not believe you feel “entitled” to receive 1.3 based on comps you have been shown. However you are not acknowledging the market conditions. Falling markets fall below comps, it is simple as that. Again, given the high degree of interest in your home, it sounds like you have a fair shot at the 1.3 but I am making that statement based on your description of what is going on, which is not unbiased.
February 23, 2008 at 10:29 AM #158510ParticipantHi Ray –
Yeah the stats are pretty clear on that regardless of whether the secular trend is up or down. That is why I kept posting that I expected to see increased sales this spring. It is simply the seasonal behavior and it fits into the envelope of the overall secular depreciation trend well.
Also increased activity doesn’t always translate to higher prices because it really depends on the psychology of the buyers out there.
The biggest misunderstanding on this site is that Piggs way way way overestimate the reticence of buyers out there to indeed buy. I will say that buyers are as a group becoming much more aware of the power they have, yet they also battle their own impatience to own as well thus in some respect they do feed the sticky mouths of the sellers out there.
Wanttosell is a good example of this. I would imagine that receiving 7 offers in the first few weeks of a listing that are only 10% under asking will indeed indicate a heavy level of interest in the home and most likely result in a buyer actually coming closer to the asking price soon.
Alternately many many sellers also fail to understand that the first couple weeks are THE ABSOLUTE BEST time for a listing. I could not advocate strongly enough that getting a deal done with the first few that come in is pretty important. Passing on them or playing hardball with them is essentially adding risk to the listing.
This also is a very good example of the frustration that I believe some people have posted here about homes that they visited, and even made offers on that were rejected only to see the homes sell months later at offers at or even LESS then the offer they made.
Wanttosell I am not trying to be rude to you. I try not to do that on this post. Your home may or may not sell close to or at your asking price. It will be an interesting call. All I am saying is that you are quite representative of many of the non distressed sellers out there. (I am assuming you are not selling because of financial distress and have a fair amount of equity in your home) Perhaps I am wrong. Deep down you may not believe you feel “entitled” to receive 1.3 based on comps you have been shown. However you are not acknowledging the market conditions. Falling markets fall below comps, it is simple as that. Again, given the high degree of interest in your home, it sounds like you have a fair shot at the 1.3 but I am making that statement based on your description of what is going on, which is not unbiased.
February 23, 2008 at 10:29 AM #158519ParticipantHi Ray –
Yeah the stats are pretty clear on that regardless of whether the secular trend is up or down. That is why I kept posting that I expected to see increased sales this spring. It is simply the seasonal behavior and it fits into the envelope of the overall secular depreciation trend well.
Also increased activity doesn’t always translate to higher prices because it really depends on the psychology of the buyers out there.
The biggest misunderstanding on this site is that Piggs way way way overestimate the reticence of buyers out there to indeed buy. I will say that buyers are as a group becoming much more aware of the power they have, yet they also battle their own impatience to own as well thus in some respect they do feed the sticky mouths of the sellers out there.
Wanttosell is a good example of this. I would imagine that receiving 7 offers in the first few weeks of a listing that are only 10% under asking will indeed indicate a heavy level of interest in the home and most likely result in a buyer actually coming closer to the asking price soon.
Alternately many many sellers also fail to understand that the first couple weeks are THE ABSOLUTE BEST time for a listing. I could not advocate strongly enough that getting a deal done with the first few that come in is pretty important. Passing on them or playing hardball with them is essentially adding risk to the listing.
This also is a very good example of the frustration that I believe some people have posted here about homes that they visited, and even made offers on that were rejected only to see the homes sell months later at offers at or even LESS then the offer they made.
Wanttosell I am not trying to be rude to you. I try not to do that on this post. Your home may or may not sell close to or at your asking price. It will be an interesting call. All I am saying is that you are quite representative of many of the non distressed sellers out there. (I am assuming you are not selling because of financial distress and have a fair amount of equity in your home) Perhaps I am wrong. Deep down you may not believe you feel “entitled” to receive 1.3 based on comps you have been shown. However you are not acknowledging the market conditions. Falling markets fall below comps, it is simple as that. Again, given the high degree of interest in your home, it sounds like you have a fair shot at the 1.3 but I am making that statement based on your description of what is going on, which is not unbiased.
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