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Ren.
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July 28, 2007 at 9:31 PM #68425July 28, 2007 at 9:31 PM #68494
bsrsharma
ParticipantHere in Portland, Oregon, I have made it a habit to carefully watch out for “Tyvek Homes” (Homes half built where builder ran out of money, covered in waterproof paper). In fact, I think quantity of Tyvek paper sold may even be a good indicator of builder pain!
July 28, 2007 at 11:42 PM #68445temeculaguy
ParticipantUpdate, there are now 11 with three car garages but one is a tandem 3rd car and i’m not sure if I am going to include those because I hate them.
Gary, nice rant, I love the plattitudes on the MLS. Motivated seller, priced below comps, etc. and then you see what a lie it is. Here’s and example from a local townhouse development.
Prop A claims to be the lowest price in the complex, it’s the smallest model and the ask is 318k for a short sale and claims the price reflest the need for new carpet.
Further investigation reveals three other untis at 299k, the model match is nicer and the other two are larger. Why claim to have the lowest price when you don’t, do they think the sellers agents won’t check the one accross the street. Sure one could argue that the others came on the market after the listing agent wrote the narrative but I remember when it came on the market and there were still others priced lower. Even so, leaving that in the ad seems counterproductive, it doccuments a minimum 6% reduction during it’s time on the market, where’s my checkbook I better buy it before it loses another 6% next month.
July 28, 2007 at 11:42 PM #68514ParticipantUpdate, there are now 11 with three car garages but one is a tandem 3rd car and i’m not sure if I am going to include those because I hate them.
Gary, nice rant, I love the plattitudes on the MLS. Motivated seller, priced below comps, etc. and then you see what a lie it is. Here’s and example from a local townhouse development.
Prop A claims to be the lowest price in the complex, it’s the smallest model and the ask is 318k for a short sale and claims the price reflest the need for new carpet.
Further investigation reveals three other untis at 299k, the model match is nicer and the other two are larger. Why claim to have the lowest price when you don’t, do they think the sellers agents won’t check the one accross the street. Sure one could argue that the others came on the market after the listing agent wrote the narrative but I remember when it came on the market and there were still others priced lower. Even so, leaving that in the ad seems counterproductive, it doccuments a minimum 6% reduction during it’s time on the market, where’s my checkbook I better buy it before it loses another 6% next month.
July 29, 2007 at 8:14 PM #68597garysears
ParticipantChasing the market down much?
How about your favorite listings of high DOM, multiple price reductions? Check out these sellers. I’ll bet they would have got their current asking price a year ago.
8866 LAMAR ST #4, Spring Valley, CA 91977**
MLS #: 066058699
387 days and counting….Purchased: 07/09/2003 $240,000
http://www.listingssandiego.com/search/homeview.asp?id=1545284
In case you don’t have a free ziprealty account:
Original List Price: $390,000
Price Reduced: 07/29/06 — $360,000 to $350,000
Price Reduced: 09/01/06 — $350,000 to $345,000
Price Increased: 09/27/06 — $345,000 to $365,000
Price Reduced: 01/21/07 — $365,000 to $280,000
Price Reduced: 04/06/07 — $360,000 to $332,000
Price Reduced: 06/08/07 — $332,000 to $330,000
Price Reduced: 06/17/07 — $330,000 to $300,000
Price Reduced: 06/28/07 — $300,000 to $280,000
Price Reduced: 07/21/07 — $280,000 to $275,000July 29, 2007 at 8:14 PM #68666ParticipantChasing the market down much?
How about your favorite listings of high DOM, multiple price reductions? Check out these sellers. I’ll bet they would have got their current asking price a year ago.
8866 LAMAR ST #4, Spring Valley, CA 91977**
MLS #: 066058699
387 days and counting….Purchased: 07/09/2003 $240,000
http://www.listingssandiego.com/search/homeview.asp?id=1545284
In case you don’t have a free ziprealty account:
Original List Price: $390,000
Price Reduced: 07/29/06 — $360,000 to $350,000
Price Reduced: 09/01/06 — $350,000 to $345,000
Price Increased: 09/27/06 — $345,000 to $365,000
Price Reduced: 01/21/07 — $365,000 to $280,000
Price Reduced: 04/06/07 — $360,000 to $332,000
Price Reduced: 06/08/07 — $332,000 to $330,000
Price Reduced: 06/17/07 — $330,000 to $300,000
Price Reduced: 06/28/07 — $300,000 to $280,000
Price Reduced: 07/21/07 — $280,000 to $275,000July 30, 2007 at 12:39 AM #68623patientrenter
ParticipantGary and temeculaguy, thanks for those. Really hits the spot… as satisfying as a nice cold beer on a hot day.
Patient renter in OC
July 30, 2007 at 12:39 AM #68693ParticipantGary and temeculaguy, thanks for those. Really hits the spot… as satisfying as a nice cold beer on a hot day.
Patient renter in OC
August 12, 2007 at 10:22 AM #73692ParticipantIt’s been two weeks and we are up to 13 with the new low price leader at 365k
August 12, 2007 at 10:22 AM #73814ParticipantIt’s been two weeks and we are up to 13 with the new low price leader at 365k
August 12, 2007 at 10:22 AM #73819ParticipantIt’s been two weeks and we are up to 13 with the new low price leader at 365k
August 24, 2007 at 6:57 PM #80669ParticipantTwelve days later, now it is 16 resale homes under 400k with three car garages and a new low price leader at 355k
August 24, 2007 at 6:57 PM #80800ParticipantTwelve days later, now it is 16 resale homes under 400k with three car garages and a new low price leader at 355k
August 24, 2007 at 6:57 PM #80821ParticipantTwelve days later, now it is 16 resale homes under 400k with three car garages and a new low price leader at 355k
September 27, 2007 at 8:01 PM #86182ParticipantToday’s update, 21 homes under 400k in 92592 with a three car garage. 4 of them for 350k
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