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March 17, 2009 at 5:10 PM #368883March 18, 2009 at 8:31 AM #369068
Sandi Egan
ParticipantBack to the OP.
I think the N-hundred pound gorilla in the room is the vast pent-up foreclosure inventory. Widespread “foreclosure moratoriums” and banks’ unwillingness/inability to quickly bring REOs to market is IMO the single major reason affecting current supply/demand balance. Soon or late the floodgate will open.
As for multiple offers on a single property, $20 says that only happens to a very limited number of reasonably priced listings.
Am I right?
March 18, 2009 at 8:31 AM #369353ParticipantBack to the OP.
I think the N-hundred pound gorilla in the room is the vast pent-up foreclosure inventory. Widespread “foreclosure moratoriums” and banks’ unwillingness/inability to quickly bring REOs to market is IMO the single major reason affecting current supply/demand balance. Soon or late the floodgate will open.
As for multiple offers on a single property, $20 says that only happens to a very limited number of reasonably priced listings.
Am I right?
March 18, 2009 at 8:31 AM #369518ParticipantBack to the OP.
I think the N-hundred pound gorilla in the room is the vast pent-up foreclosure inventory. Widespread “foreclosure moratoriums” and banks’ unwillingness/inability to quickly bring REOs to market is IMO the single major reason affecting current supply/demand balance. Soon or late the floodgate will open.
As for multiple offers on a single property, $20 says that only happens to a very limited number of reasonably priced listings.
Am I right?
March 18, 2009 at 8:31 AM #369560ParticipantBack to the OP.
I think the N-hundred pound gorilla in the room is the vast pent-up foreclosure inventory. Widespread “foreclosure moratoriums” and banks’ unwillingness/inability to quickly bring REOs to market is IMO the single major reason affecting current supply/demand balance. Soon or late the floodgate will open.
As for multiple offers on a single property, $20 says that only happens to a very limited number of reasonably priced listings.
Am I right?
March 18, 2009 at 8:31 AM #369676ParticipantBack to the OP.
I think the N-hundred pound gorilla in the room is the vast pent-up foreclosure inventory. Widespread “foreclosure moratoriums” and banks’ unwillingness/inability to quickly bring REOs to market is IMO the single major reason affecting current supply/demand balance. Soon or late the floodgate will open.
As for multiple offers on a single property, $20 says that only happens to a very limited number of reasonably priced listings.
Am I right?
March 18, 2009 at 11:05 AM #369252NotCranky
ParticipantI would bet with you on the first one Sandi, but not that much… but if we do get open floodgates…Just not sure how the things you mention and situations that would affect it, are going to be handled.
The second one is true now and is usually true. There is variability to the extent that it is a “buyer’s” or “seller’s” market.In certain periods of the recent frenzy there was a lot of overbidding but people could still find something they wanted without bidding wars, most of the time. It follows that there are variations by submarkets all the time too. Buyer’s do pay attention,have dominant similiarities in certain markets and there is a tendency for them to go towards the same properties, It could be predominantly the cheapest properties at one time or turnkeys at another, or both in some locally weighted mix.
It is a little bit or trial and error but I bet most piggs could look at the MLS and find which houses were going to get traffic, in their target market areas,maybe even if DOM and price reductions were hidden.
March 18, 2009 at 11:05 AM #369539ParticipantI would bet with you on the first one Sandi, but not that much… but if we do get open floodgates…Just not sure how the things you mention and situations that would affect it, are going to be handled.
The second one is true now and is usually true. There is variability to the extent that it is a “buyer’s” or “seller’s” market.In certain periods of the recent frenzy there was a lot of overbidding but people could still find something they wanted without bidding wars, most of the time. It follows that there are variations by submarkets all the time too. Buyer’s do pay attention,have dominant similiarities in certain markets and there is a tendency for them to go towards the same properties, It could be predominantly the cheapest properties at one time or turnkeys at another, or both in some locally weighted mix.
It is a little bit or trial and error but I bet most piggs could look at the MLS and find which houses were going to get traffic, in their target market areas,maybe even if DOM and price reductions were hidden.
March 18, 2009 at 11:05 AM #369705ParticipantI would bet with you on the first one Sandi, but not that much… but if we do get open floodgates…Just not sure how the things you mention and situations that would affect it, are going to be handled.
The second one is true now and is usually true. There is variability to the extent that it is a “buyer’s” or “seller’s” market.In certain periods of the recent frenzy there was a lot of overbidding but people could still find something they wanted without bidding wars, most of the time. It follows that there are variations by submarkets all the time too. Buyer’s do pay attention,have dominant similiarities in certain markets and there is a tendency for them to go towards the same properties, It could be predominantly the cheapest properties at one time or turnkeys at another, or both in some locally weighted mix.
It is a little bit or trial and error but I bet most piggs could look at the MLS and find which houses were going to get traffic, in their target market areas,maybe even if DOM and price reductions were hidden.
March 18, 2009 at 11:05 AM #369746ParticipantI would bet with you on the first one Sandi, but not that much… but if we do get open floodgates…Just not sure how the things you mention and situations that would affect it, are going to be handled.
The second one is true now and is usually true. There is variability to the extent that it is a “buyer’s” or “seller’s” market.In certain periods of the recent frenzy there was a lot of overbidding but people could still find something they wanted without bidding wars, most of the time. It follows that there are variations by submarkets all the time too. Buyer’s do pay attention,have dominant similiarities in certain markets and there is a tendency for them to go towards the same properties, It could be predominantly the cheapest properties at one time or turnkeys at another, or both in some locally weighted mix.
It is a little bit or trial and error but I bet most piggs could look at the MLS and find which houses were going to get traffic, in their target market areas,maybe even if DOM and price reductions were hidden.
March 18, 2009 at 11:05 AM #369862ParticipantI would bet with you on the first one Sandi, but not that much… but if we do get open floodgates…Just not sure how the things you mention and situations that would affect it, are going to be handled.
The second one is true now and is usually true. There is variability to the extent that it is a “buyer’s” or “seller’s” market.In certain periods of the recent frenzy there was a lot of overbidding but people could still find something they wanted without bidding wars, most of the time. It follows that there are variations by submarkets all the time too. Buyer’s do pay attention,have dominant similiarities in certain markets and there is a tendency for them to go towards the same properties, It could be predominantly the cheapest properties at one time or turnkeys at another, or both in some locally weighted mix.
It is a little bit or trial and error but I bet most piggs could look at the MLS and find which houses were going to get traffic, in their target market areas,maybe even if DOM and price reductions were hidden.
March 18, 2009 at 3:53 PM #369412SD Realtor
ParticipantAs for multiple offers on a single property, $20 says that only happens to a very limited number of reasonably priced listings.
Sandi it all depends on the type of property, the price, and how it shows. It really does. If it is priced right and shows well and it is in a desireable area it will get multiple offers. It just depends. Give me a specific area and type of house and I can give you a little bit more of a specific answer.
March 18, 2009 at 3:53 PM #369698ParticipantAs for multiple offers on a single property, $20 says that only happens to a very limited number of reasonably priced listings.
Sandi it all depends on the type of property, the price, and how it shows. It really does. If it is priced right and shows well and it is in a desireable area it will get multiple offers. It just depends. Give me a specific area and type of house and I can give you a little bit more of a specific answer.
March 18, 2009 at 3:53 PM #369865ParticipantAs for multiple offers on a single property, $20 says that only happens to a very limited number of reasonably priced listings.
Sandi it all depends on the type of property, the price, and how it shows. It really does. If it is priced right and shows well and it is in a desireable area it will get multiple offers. It just depends. Give me a specific area and type of house and I can give you a little bit more of a specific answer.
March 18, 2009 at 3:53 PM #369906ParticipantAs for multiple offers on a single property, $20 says that only happens to a very limited number of reasonably priced listings.
Sandi it all depends on the type of property, the price, and how it shows. It really does. If it is priced right and shows well and it is in a desireable area it will get multiple offers. It just depends. Give me a specific area and type of house and I can give you a little bit more of a specific answer.
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