selling myhouse part 4

[temeculaguy]

It may fool someone, can’t hurt, personally I only looked at resales that had been on the market a while, with many price reductions or repos on the market one day. Buyers are not fooled by real estate these days, a saavy buyer might want to wait it out until it gets reduced, leaving it up and showing the reductions lets them know it’s been allowed to run it’s course. Desperation is the new black. Out in so cal land, things have dropped about 100 grand since you pondered why your house wasn’t selling, it is now to the point that someone can relocate from Oklahoma to Southern California in order to get a cheaper house.

I found part 1 of your saga, in August I told it was worth 225k. I’m afraid you are dropping too little too late, a 10% drop puts you at 270k, if the comps dropped 10% you are still above the market, what does your realtor say? Why isn’t anyone bidding?

http://piggington.com/selling_my_house_part_1

I’d don’t have the energy to run the comps again but I’m guessing real estate didn’t go up over the last five months there.

If you drop the price every 30 days by 5%, guess what, you will find what it is worth, not to you, but to a buyer.

Thinking DOM is the problem is just distracting yourself from the real problem, people buy on price and payment. Do you really think some couple shopping for a house is going to have this conversation:

Husband: “Hey babe, this house is nice and it is priced well, plus they just lowered the price 50 grand.”

Wife: “No hun, it’s been on the market for 200 days, lets buy the one up the street for 50 grand more because it was just listed, who needs 50 grand, I wan’t a fresh listing.”

If you need it gone, go agressive, be the most competatively priced one within a mile radius or you could ignore the advice and hope the economy turns around after the holidays, but I’m doubting that.

I can’t remember but were you looking to relocate to another town, odds are the prices fell there as well so losing money on the sale will be rewarded with a lower price on the buy, just pay less wherever you are going.

[temeculaguy]

ocrenter, I was going to say the same thing, but it’s your thunder, btw, thanks for the props with the reference on your blog, I’m famous now.

[temeculaguy]

ocrenter, I was going to say the same thing, but it’s your thunder, btw, thanks for the props with the reference on your blog, I’m famous now.

[temeculaguy]

ocrenter, I was going to say the same thing, but it’s your thunder, btw, thanks for the props with the reference on your blog, I’m famous now.

[temeculaguy]

ocrenter, I was going to say the same thing, but it’s your thunder, btw, thanks for the props with the reference on your blog, I’m famous now.

[temeculaguy]

ocrenter, I was going to say the same thing, but it’s your thunder, btw, thanks for the props with the reference on your blog, I’m famous now.

[patb]

[quote=threadkiller]Is your house average for the zip code? How much does the average household make in the area, assuming your house is average could the average household in that zip code qualify for a loan right now? If so it may be a marketing problem. Keep in mind however that average household incomes will be going down in the future in most zipcodes, hint! That means “get her sold”- just my 2 cents[/quote]

the house is above average for the block, in terms of condition,
it’s below average for the subdivision for square footage,
it’s above average for the city in terms of assessment
it’s median for recent sales.

median income fo rthe city is 51K, median income for the subdivision
is 100K, it’s 57K in the zip code but the south end of the code
includes a whole bunch of student dorms

the house at the corner just listed for 449K, it’s a bigger place but
its 117/sf, i’m asking 107/SF

[patb]

[quote=threadkiller]Is your house average for the zip code? How much does the average household make in the area, assuming your house is average could the average household in that zip code qualify for a loan right now? If so it may be a marketing problem. Keep in mind however that average household incomes will be going down in the future in most zipcodes, hint! That means “get her sold”- just my 2 cents[/quote]

the house is above average for the block, in terms of condition,
it’s below average for the subdivision for square footage,
it’s above average for the city in terms of assessment
it’s median for recent sales.

median income fo rthe city is 51K, median income for the subdivision
is 100K, it’s 57K in the zip code but the south end of the code
includes a whole bunch of student dorms

the house at the corner just listed for 449K, it’s a bigger place but
its 117/sf, i’m asking 107/SF

[patb]

[quote=threadkiller]Is your house average for the zip code? How much does the average household make in the area, assuming your house is average could the average household in that zip code qualify for a loan right now? If so it may be a marketing problem. Keep in mind however that average household incomes will be going down in the future in most zipcodes, hint! That means “get her sold”- just my 2 cents[/quote]

the house is above average for the block, in terms of condition,
it’s below average for the subdivision for square footage,
it’s above average for the city in terms of assessment
it’s median for recent sales.

median income fo rthe city is 51K, median income for the subdivision
is 100K, it’s 57K in the zip code but the south end of the code
includes a whole bunch of student dorms

the house at the corner just listed for 449K, it’s a bigger place but
its 117/sf, i’m asking 107/SF

[patb]

[quote=threadkiller]Is your house average for the zip code? How much does the average household make in the area, assuming your house is average could the average household in that zip code qualify for a loan right now? If so it may be a marketing problem. Keep in mind however that average household incomes will be going down in the future in most zipcodes, hint! That means “get her sold”- just my 2 cents[/quote]

the house is above average for the block, in terms of condition,
it’s below average for the subdivision for square footage,
it’s above average for the city in terms of assessment
it’s median for recent sales.

median income fo rthe city is 51K, median income for the subdivision
is 100K, it’s 57K in the zip code but the south end of the code
includes a whole bunch of student dorms

the house at the corner just listed for 449K, it’s a bigger place but
its 117/sf, i’m asking 107/SF

[patb]

[quote=threadkiller]Is your house average for the zip code? How much does the average household make in the area, assuming your house is average could the average household in that zip code qualify for a loan right now? If so it may be a marketing problem. Keep in mind however that average household incomes will be going down in the future in most zipcodes, hint! That means “get her sold”- just my 2 cents[/quote]

the house is above average for the block, in terms of condition,
it’s below average for the subdivision for square footage,
it’s above average for the city in terms of assessment
it’s median for recent sales.

median income fo rthe city is 51K, median income for the subdivision
is 100K, it’s 57K in the zip code but the south end of the code
includes a whole bunch of student dorms

the house at the corner just listed for 449K, it’s a bigger place but
its 117/sf, i’m asking 107/SF

[temeculaguy]

I have time now, looking just at homes with the same schools listed, this one sold for 250 and is quite nice, newer with a 3 car

http://www.openhouseok.com/showhome.oht?&city=norman&address=617+Rivermont&st=ok

this one is 3200 sq for 230k

http://www.openhouseok.com/showhome.oht?&city=norman&address=311+Cherry+Creek+Dr&st=ok

this one is only 2100 sq and is pending at 224k

http://www.openhouseok.com/showhome.oht?&city=norman&address=909+Meadow+Ridge+Rd&st=ok

2000 sq ft for 200k

http://www.openhouseok.com/showhome.oht?&city=norman&address=229+Deerhurst+Dr&st=ok

2250sq for 189k

http://www.openhouseok.com/showhome.oht?&city=norman&address=709+Inverness&st=ok

2300 sq for 165k

http://www.openhouseok.com/showhome.oht?&city=norman&address=4207+Blue+Sage+Rd&st=ok

Your zestimate is 200-250k, somewhat validating my 225k estimate. The three closest sales within 2 streets are 207, 189 and 184, all three were smaller at about 2000 sq. but the 207 was your next door neighbor in July, before the economy fell apart in the media.

2 streets away on briarcrest is a listing for more sq ft for 225k, and it’s zillow range is 270-350k, so I’m guessing that you zillow range isn’t completely undervalued. I don’t like zillows estimates but it just another tool to look at.

Once again, I am on the other side of the country, but you asked and I was bored, I think at 269k your house is priced better but still overpriced, at 225k it will sell at 250 you might get looks and might get an offer. I think you wasted 4 months at 300k, you need to realize time is not on your side, if you get minimal traffic and no offers in 30 days, go 249k and take it from there.

That one on the corner for 450k is the highest listing I could find close by and they paid 185k in 1999, I think they are dreaming, don’t use listings to determine comps, use sales.

Median for the zip is 182k.

On the bright side, all of the zip code trends are actually positive, both the 30 day and the 1 year average values are stable or slightly positive, so you aren’t facing the massive depreciation we are out in so cal.

[temeculaguy]

I have time now, looking just at homes with the same schools listed, this one sold for 250 and is quite nice, newer with a 3 car

http://www.openhouseok.com/showhome.oht?&city=norman&address=617+Rivermont&st=ok

this one is 3200 sq for 230k

http://www.openhouseok.com/showhome.oht?&city=norman&address=311+Cherry+Creek+Dr&st=ok

this one is only 2100 sq and is pending at 224k

http://www.openhouseok.com/showhome.oht?&city=norman&address=909+Meadow+Ridge+Rd&st=ok

2000 sq ft for 200k

http://www.openhouseok.com/showhome.oht?&city=norman&address=229+Deerhurst+Dr&st=ok

2250sq for 189k

http://www.openhouseok.com/showhome.oht?&city=norman&address=709+Inverness&st=ok

2300 sq for 165k

http://www.openhouseok.com/showhome.oht?&city=norman&address=4207+Blue+Sage+Rd&st=ok

Your zestimate is 200-250k, somewhat validating my 225k estimate. The three closest sales within 2 streets are 207, 189 and 184, all three were smaller at about 2000 sq. but the 207 was your next door neighbor in July, before the economy fell apart in the media.

2 streets away on briarcrest is a listing for more sq ft for 225k, and it’s zillow range is 270-350k, so I’m guessing that you zillow range isn’t completely undervalued. I don’t like zillows estimates but it just another tool to look at.

Once again, I am on the other side of the country, but you asked and I was bored, I think at 269k your house is priced better but still overpriced, at 225k it will sell at 250 you might get looks and might get an offer. I think you wasted 4 months at 300k, you need to realize time is not on your side, if you get minimal traffic and no offers in 30 days, go 249k and take it from there.

That one on the corner for 450k is the highest listing I could find close by and they paid 185k in 1999, I think they are dreaming, don’t use listings to determine comps, use sales.

Median for the zip is 182k.

On the bright side, all of the zip code trends are actually positive, both the 30 day and the 1 year average values are stable or slightly positive, so you aren’t facing the massive depreciation we are out in so cal.

[temeculaguy]

I have time now, looking just at homes with the same schools listed, this one sold for 250 and is quite nice, newer with a 3 car

http://www.openhouseok.com/showhome.oht?&city=norman&address=617+Rivermont&st=ok

this one is 3200 sq for 230k

http://www.openhouseok.com/showhome.oht?&city=norman&address=311+Cherry+Creek+Dr&st=ok

this one is only 2100 sq and is pending at 224k

http://www.openhouseok.com/showhome.oht?&city=norman&address=909+Meadow+Ridge+Rd&st=ok

2000 sq ft for 200k

http://www.openhouseok.com/showhome.oht?&city=norman&address=229+Deerhurst+Dr&st=ok

2250sq for 189k

http://www.openhouseok.com/showhome.oht?&city=norman&address=709+Inverness&st=ok

2300 sq for 165k

http://www.openhouseok.com/showhome.oht?&city=norman&address=4207+Blue+Sage+Rd&st=ok

Your zestimate is 200-250k, somewhat validating my 225k estimate. The three closest sales within 2 streets are 207, 189 and 184, all three were smaller at about 2000 sq. but the 207 was your next door neighbor in July, before the economy fell apart in the media.

2 streets away on briarcrest is a listing for more sq ft for 225k, and it’s zillow range is 270-350k, so I’m guessing that you zillow range isn’t completely undervalued. I don’t like zillows estimates but it just another tool to look at.

Once again, I am on the other side of the country, but you asked and I was bored, I think at 269k your house is priced better but still overpriced, at 225k it will sell at 250 you might get looks and might get an offer. I think you wasted 4 months at 300k, you need to realize time is not on your side, if you get minimal traffic and no offers in 30 days, go 249k and take it from there.

That one on the corner for 450k is the highest listing I could find close by and they paid 185k in 1999, I think they are dreaming, don’t use listings to determine comps, use sales.

Median for the zip is 182k.

On the bright side, all of the zip code trends are actually positive, both the 30 day and the 1 year average values are stable or slightly positive, so you aren’t facing the massive depreciation we are out in so cal.

[temeculaguy]

I have time now, looking just at homes with the same schools listed, this one sold for 250 and is quite nice, newer with a 3 car

http://www.openhouseok.com/showhome.oht?&city=norman&address=617+Rivermont&st=ok

this one is 3200 sq for 230k

http://www.openhouseok.com/showhome.oht?&city=norman&address=311+Cherry+Creek+Dr&st=ok

this one is only 2100 sq and is pending at 224k

http://www.openhouseok.com/showhome.oht?&city=norman&address=909+Meadow+Ridge+Rd&st=ok

2000 sq ft for 200k

http://www.openhouseok.com/showhome.oht?&city=norman&address=229+Deerhurst+Dr&st=ok

2250sq for 189k

http://www.openhouseok.com/showhome.oht?&city=norman&address=709+Inverness&st=ok

2300 sq for 165k

http://www.openhouseok.com/showhome.oht?&city=norman&address=4207+Blue+Sage+Rd&st=ok

Your zestimate is 200-250k, somewhat validating my 225k estimate. The three closest sales within 2 streets are 207, 189 and 184, all three were smaller at about 2000 sq. but the 207 was your next door neighbor in July, before the economy fell apart in the media.

2 streets away on briarcrest is a listing for more sq ft for 225k, and it’s zillow range is 270-350k, so I’m guessing that you zillow range isn’t completely undervalued. I don’t like zillows estimates but it just another tool to look at.

Once again, I am on the other side of the country, but you asked and I was bored, I think at 269k your house is priced better but still overpriced, at 225k it will sell at 250 you might get looks and might get an offer. I think you wasted 4 months at 300k, you need to realize time is not on your side, if you get minimal traffic and no offers in 30 days, go 249k and take it from there.

That one on the corner for 450k is the highest listing I could find close by and they paid 185k in 1999, I think they are dreaming, don’t use listings to determine comps, use sales.

Median for the zip is 182k.

On the bright side, all of the zip code trends are actually positive, both the 30 day and the 1 year average values are stable or slightly positive, so you aren’t facing the massive depreciation we are out in so cal.

[Author]

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