SD Redfin: Biggest Discounts February Update

[SD Realtor]

Pepsi please understand that when I make an offer for a house I want to buy, I look at factors that I believe are important to my purchase. I will state them yet again, I look at recent sales for comps that match the home I am interested in. I look at days on market, I look at distress level. I look at recent activity, I look at interest in the home. I can honestly say I have never used the average difference between sales price and list price to value a home. I have never done it for myself, and I have never done it for any clients.

Perhaps some other realtors who post here use that particular statistic to help them price homes for clients.

To be clear here, you even said it youself that you might start your offereing at -15% or even above listing. So are we not saying the same thing? That your offer will not be based on the listing price, but what you feel is a true valuation of the home?

[NotCranky]

[quote=XBoxBoy]
But I do agree with SD Realtor that this chart has no value if I interpret it as telling me that the average house in La Jolla is worth 10% less than asking price. (Or that if I get 10% off I got a good deal) To value a house, other data points are far more important.

XBoxBoy[/quote]

I would agree with that too but I guess I am giving the OP credit for not trying to do that. It would be irrational. The other points you and pepsi are making seem to be what one would dwell on ,relative to this data. It is more than a coincidence that your observations of various improving factors in favor of the buyer, coincide with higher average reductions.Sellers, as I believe you pointed out, are on average playing catch-up.

If SDR, means to say agents, buyers and sellers should represent themselves carefully as to accuracy at the transaction level,as much as possible,should they choose to participate in the market, I agree.

[NotCranky]

[quote=XBoxBoy]
But I do agree with SD Realtor that this chart has no value if I interpret it as telling me that the average house in La Jolla is worth 10% less than asking price. (Or that if I get 10% off I got a good deal) To value a house, other data points are far more important.

XBoxBoy[/quote]

I would agree with that too but I guess I am giving the OP credit for not trying to do that. It would be irrational. The other points you and pepsi are making seem to be what one would dwell on ,relative to this data. It is more than a coincidence that your observations of various improving factors in favor of the buyer, coincide with higher average reductions.Sellers, as I believe you pointed out, are on average playing catch-up.

If SDR, means to say agents, buyers and sellers should represent themselves carefully as to accuracy at the transaction level,as much as possible,should they choose to participate in the market, I agree.

[NotCranky]

[quote=XBoxBoy]
But I do agree with SD Realtor that this chart has no value if I interpret it as telling me that the average house in La Jolla is worth 10% less than asking price. (Or that if I get 10% off I got a good deal) To value a house, other data points are far more important.

XBoxBoy[/quote]

I would agree with that too but I guess I am giving the OP credit for not trying to do that. It would be irrational. The other points you and pepsi are making seem to be what one would dwell on ,relative to this data. It is more than a coincidence that your observations of various improving factors in favor of the buyer, coincide with higher average reductions.Sellers, as I believe you pointed out, are on average playing catch-up.

If SDR, means to say agents, buyers and sellers should represent themselves carefully as to accuracy at the transaction level,as much as possible,should they choose to participate in the market, I agree.

[NotCranky]

[quote=XBoxBoy]
But I do agree with SD Realtor that this chart has no value if I interpret it as telling me that the average house in La Jolla is worth 10% less than asking price. (Or that if I get 10% off I got a good deal) To value a house, other data points are far more important.

XBoxBoy[/quote]

I would agree with that too but I guess I am giving the OP credit for not trying to do that. It would be irrational. The other points you and pepsi are making seem to be what one would dwell on ,relative to this data. It is more than a coincidence that your observations of various improving factors in favor of the buyer, coincide with higher average reductions.Sellers, as I believe you pointed out, are on average playing catch-up.

If SDR, means to say agents, buyers and sellers should represent themselves carefully as to accuracy at the transaction level,as much as possible,should they choose to participate in the market, I agree.

[NotCranky]

[quote=XBoxBoy]
But I do agree with SD Realtor that this chart has no value if I interpret it as telling me that the average house in La Jolla is worth 10% less than asking price. (Or that if I get 10% off I got a good deal) To value a house, other data points are far more important.

XBoxBoy[/quote]

I would agree with that too but I guess I am giving the OP credit for not trying to do that. It would be irrational. The other points you and pepsi are making seem to be what one would dwell on ,relative to this data. It is more than a coincidence that your observations of various improving factors in favor of the buyer, coincide with higher average reductions.Sellers, as I believe you pointed out, are on average playing catch-up.

If SDR, means to say agents, buyers and sellers should represent themselves carefully as to accuracy at the transaction level,as much as possible,should they choose to participate in the market, I agree.

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