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little lady.
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October 9, 2007 at 11:00 AM #87544October 9, 2007 at 11:04 AM #87539
bsrsharma
ParticipantNeither statistic very useful.
Say you want to sell a house.
case 1: You see DOM for neighborhood = 10
case 2: You see DOM for neighborhood = 177
Won't it affect how you price your listing?
What would I do?
Case 1: I will list at about median $/sqft, after considering other things
Case 2: I will list a little below the lowest $/sqft, after considering other things.
Why? Heck I want to sell, take my money and get on with my life. I am not watching a movie!
October 9, 2007 at 11:04 AM #87546ParticipantNeither statistic very useful.
Say you want to sell a house.
case 1: You see DOM for neighborhood = 10
case 2: You see DOM for neighborhood = 177
Won't it affect how you price your listing?
What would I do?
Case 1: I will list at about median $/sqft, after considering other things
Case 2: I will list a little below the lowest $/sqft, after considering other things.
Why? Heck I want to sell, take my money and get on with my life. I am not watching a movie!
October 9, 2007 at 11:08 AM #87543Artifact
ParticipantAs a follow up from Rich’s last post – I plotted out the Sandicor Sales data back to 1999 to compare the seasonal variability – I don’t think a lot needs to be said about this figure – sales are at the lowest point for all of the data I had and 2007 has been very low across the board – lower in every month than in any of the previous 7 years.
[img_assist|nid=5078|title= Monthly Sales Data from Sandicor|desc=|link=node|align=left|width=466|height=362]
October 9, 2007 at 11:08 AM #87550ParticipantAs a follow up from Rich’s last post – I plotted out the Sandicor Sales data back to 1999 to compare the seasonal variability – I don’t think a lot needs to be said about this figure – sales are at the lowest point for all of the data I had and 2007 has been very low across the board – lower in every month than in any of the previous 7 years.
[img_assist|nid=5078|title= Monthly Sales Data from Sandicor|desc=|link=node|align=left|width=466|height=362]
October 9, 2007 at 11:19 AM #87547Participantesmith – I clipped off the lower half of the stack (as being uninteresting). This is what it says:
$15,000 to $19,999: 7
$20,000 to $24,999: 14
$25,000 to $29,999: 5
$30,000 to $34,999: 8
$35,000 to $39,999: 9
$40,000 to $49,999: 13
$50,000 to $59,999: 8
$80,000 to $89,999: 32
$90,000 to $99,999: 44
$100,000 to $124,999: 201
$125,000 to $149,999: 343What does it say? It confirms my observation that it is a generally run down area with a few high end homes probably on the boundaries. The lower half of the stack are most likely mobile homes/trailer parks.
October 9, 2007 at 11:19 AM #87554Participantesmith – I clipped off the lower half of the stack (as being uninteresting). This is what it says:
$15,000 to $19,999: 7
$20,000 to $24,999: 14
$25,000 to $29,999: 5
$30,000 to $34,999: 8
$35,000 to $39,999: 9
$40,000 to $49,999: 13
$50,000 to $59,999: 8
$80,000 to $89,999: 32
$90,000 to $99,999: 44
$100,000 to $124,999: 201
$125,000 to $149,999: 343What does it say? It confirms my observation that it is a generally run down area with a few high end homes probably on the boundaries. The lower half of the stack are most likely mobile homes/trailer parks.
October 9, 2007 at 12:30 PM #87566Eugene
ParticipantWhat does it say? It confirms my observation that it is a generally run down area with a few high end homes probably on the boundaries.
Most likely it says that the data is not very reliable. I work 5 miles from Clairemont, it’s not Rancho Santa Fe but it’s certainly not a run down area. There is a trailer park east of 805 that’s in Kearny Mesa but technically in 92117, that’s where all weird 5-digit prices must be coming from. Other than that it’s a middle-class neighborhood, mostly built in 50’s and 60’s, 1000-1500 sq ft single family houses, some apartments and condo complexes.
October 9, 2007 at 12:30 PM #87571ParticipantWhat does it say? It confirms my observation that it is a generally run down area with a few high end homes probably on the boundaries.
Most likely it says that the data is not very reliable. I work 5 miles from Clairemont, it’s not Rancho Santa Fe but it’s certainly not a run down area. There is a trailer park east of 805 that’s in Kearny Mesa but technically in 92117, that’s where all weird 5-digit prices must be coming from. Other than that it’s a middle-class neighborhood, mostly built in 50’s and 60’s, 1000-1500 sq ft single family houses, some apartments and condo complexes.
October 9, 2007 at 1:46 PM #87588raptorduck
ParticipantSDR. On the few homes I am interested in in RSF I know what they last sold for, property taxes, additions, improvements, why they sold and why they are selling, on top of the usual statistics of their listing histories, relisting histories, price drops etc.
Now I am just trying to gather as much info on the neighborhoods as I can, beyond the typical demographics, school, CC&R’s, zoning regs, etc info; the insider stuff. Not that many folks standing up for Cielo, a few more for Santaluz. Everyone seems to love FBR. I think I now know more about FBR than the association does? Ok, maybe not, you can never know enough. But I think I may be able to pass a FBR entry exam now.
October 9, 2007 at 1:46 PM #87593ParticipantSDR. On the few homes I am interested in in RSF I know what they last sold for, property taxes, additions, improvements, why they sold and why they are selling, on top of the usual statistics of their listing histories, relisting histories, price drops etc.
Now I am just trying to gather as much info on the neighborhoods as I can, beyond the typical demographics, school, CC&R’s, zoning regs, etc info; the insider stuff. Not that many folks standing up for Cielo, a few more for Santaluz. Everyone seems to love FBR. I think I now know more about FBR than the association does? Ok, maybe not, you can never know enough. But I think I may be able to pass a FBR entry exam now.
October 9, 2007 at 1:54 PM #87596Participantesmith – Could it be the prices are somewhat lower due to nearness to the Miramar airfield and Miramar landfill? There are not too many places in San Diego that sold many good SFRs for under $300K during 2005.
October 9, 2007 at 1:54 PM #87601Participantesmith – Could it be the prices are somewhat lower due to nearness to the Miramar airfield and Miramar landfill? There are not too many places in San Diego that sold many good SFRs for under $300K during 2005.
October 9, 2007 at 2:12 PM #87600SD Realtor
Participantraptor sounds like you are in good shape.
bsr – I would not classify clairemont as a rundown area. 92117 is pretty diverse with mid level and more lower/mid level housing stock. It is also characterized as somewhat older housing stock. There is alot of attached housing stock as well.
I think 92117 will be a good candidate for larger drops due to alot of speculative and/or risky purchases. By the same token there are alot of equity rich folk there as well. None of the 92117 housing stock is near the landfill or miramar.
SD Realtor
October 9, 2007 at 2:12 PM #87605Participantraptor sounds like you are in good shape.
bsr – I would not classify clairemont as a rundown area. 92117 is pretty diverse with mid level and more lower/mid level housing stock. It is also characterized as somewhat older housing stock. There is alot of attached housing stock as well.
I think 92117 will be a good candidate for larger drops due to alot of speculative and/or risky purchases. By the same token there are alot of equity rich folk there as well. None of the 92117 housing stock is near the landfill or miramar.
SD Realtor
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