UT: County housing market strengthening

[an]

[quote=DWCAP]I would just like to point out that CAR’s rant was about listing prices, while everything AN and sdr are talking about are selling prices. As if these are the same things. (there is a nice little red and blue graph from rich here detailing CAR’s frustrations) Are either of you saying that there are no listings that are horrendously over market and just sitting? Is that something a buyer in an inventory constrained market shouldnt be frustrated by?
[/quote]
I never deny that there are some delusional list prices out there. CAR’s post shows it. But I don’t think all list prices are delusional, hence there are houses that were sold while the wishful listings sit and sit.

As a buyer, why would you even bother looking at those houses that are listing at horrendously high price? Just ignore it all together and just look at those are are listed at a reasonable price, which end up getting sold.

[CA renter]

[quote=AN]

As a buyer, why would you even bother looking at those houses that are listing at horrendously high price? Just ignore it all together and just look at those are are listed at a reasonable price, which end up getting sold.[/quote]

Because in an **inventory constrained** market, the few listings that are out there are tne ones we have to contend with. Anything that is fairly reasonably prices has multiple offers within a few hours. It’s not nearly as easy as you might think, AN.

[CA renter]

[quote=AN]

As a buyer, why would you even bother looking at those houses that are listing at horrendously high price? Just ignore it all together and just look at those are are listed at a reasonable price, which end up getting sold.[/quote]

Because in an **inventory constrained** market, the few listings that are out there are tne ones we have to contend with. Anything that is fairly reasonably prices has multiple offers within a few hours. It’s not nearly as easy as you might think, AN.

[CA renter]

[quote=AN]

As a buyer, why would you even bother looking at those houses that are listing at horrendously high price? Just ignore it all together and just look at those are are listed at a reasonable price, which end up getting sold.[/quote]

Because in an **inventory constrained** market, the few listings that are out there are tne ones we have to contend with. Anything that is fairly reasonably prices has multiple offers within a few hours. It’s not nearly as easy as you might think, AN.

[CA renter]

[quote=AN]

As a buyer, why would you even bother looking at those houses that are listing at horrendously high price? Just ignore it all together and just look at those are are listed at a reasonable price, which end up getting sold.[/quote]

Because in an **inventory constrained** market, the few listings that are out there are tne ones we have to contend with. Anything that is fairly reasonably prices has multiple offers within a few hours. It’s not nearly as easy as you might think, AN.

[CA renter]

[quote=AN]

As a buyer, why would you even bother looking at those houses that are listing at horrendously high price? Just ignore it all together and just look at those are are listed at a reasonable price, which end up getting sold.[/quote]

Because in an **inventory constrained** market, the few listings that are out there are tne ones we have to contend with. Anything that is fairly reasonably prices has multiple offers within a few hours. It’s not nearly as easy as you might think, AN.

[CA renter]

[quote=DWCAP]I would just like to point out that CAR’s rant was about listing prices, while everything AN and sdr are talking about are selling prices. As if these are the same things. (there is a nice little red and blue graph from rich here detailing CAR’s frustrations) Are either of you saying that there are no listings that are horrendously over market and just sitting? Is that something a buyer in an inventory constrained market shouldnt be frustrated by?

To put it another way,

“seller will entertain offers between ‘peak bubble pricing’ and ‘absoulute delusion'” is not a good way to sell houses. And why is it that offering (what the buyer considers) to be market prices is so insulting? Dont like the offer, dont take it.

or

[quote] 3. These are asking prices and not sold prices. I can ask $1M for my pencil and be delusional. [/quote]

Yes, exactly her point.[/quote]

DWCAP,

Thank you. This is exactly what I’m trying to get across.

[CA renter]

[quote=DWCAP]I would just like to point out that CAR’s rant was about listing prices, while everything AN and sdr are talking about are selling prices. As if these are the same things. (there is a nice little red and blue graph from rich here detailing CAR’s frustrations) Are either of you saying that there are no listings that are horrendously over market and just sitting? Is that something a buyer in an inventory constrained market shouldnt be frustrated by?

To put it another way,

“seller will entertain offers between ‘peak bubble pricing’ and ‘absoulute delusion'” is not a good way to sell houses. And why is it that offering (what the buyer considers) to be market prices is so insulting? Dont like the offer, dont take it.

or

[quote] 3. These are asking prices and not sold prices. I can ask $1M for my pencil and be delusional. [/quote]

Yes, exactly her point.[/quote]

DWCAP,

Thank you. This is exactly what I’m trying to get across.

[CA renter]

[quote=DWCAP]I would just like to point out that CAR’s rant was about listing prices, while everything AN and sdr are talking about are selling prices. As if these are the same things. (there is a nice little red and blue graph from rich here detailing CAR’s frustrations) Are either of you saying that there are no listings that are horrendously over market and just sitting? Is that something a buyer in an inventory constrained market shouldnt be frustrated by?

To put it another way,

“seller will entertain offers between ‘peak bubble pricing’ and ‘absoulute delusion'” is not a good way to sell houses. And why is it that offering (what the buyer considers) to be market prices is so insulting? Dont like the offer, dont take it.

or

[quote] 3. These are asking prices and not sold prices. I can ask $1M for my pencil and be delusional. [/quote]

Yes, exactly her point.[/quote]

DWCAP,

Thank you. This is exactly what I’m trying to get across.

[CA renter]

[quote=DWCAP]I would just like to point out that CAR’s rant was about listing prices, while everything AN and sdr are talking about are selling prices. As if these are the same things. (there is a nice little red and blue graph from rich here detailing CAR’s frustrations) Are either of you saying that there are no listings that are horrendously over market and just sitting? Is that something a buyer in an inventory constrained market shouldnt be frustrated by?

To put it another way,

“seller will entertain offers between ‘peak bubble pricing’ and ‘absoulute delusion'” is not a good way to sell houses. And why is it that offering (what the buyer considers) to be market prices is so insulting? Dont like the offer, dont take it.

or

[quote] 3. These are asking prices and not sold prices. I can ask $1M for my pencil and be delusional. [/quote]

Yes, exactly her point.[/quote]

DWCAP,

Thank you. This is exactly what I’m trying to get across.

[CA renter]

[quote=DWCAP]I would just like to point out that CAR’s rant was about listing prices, while everything AN and sdr are talking about are selling prices. As if these are the same things. (there is a nice little red and blue graph from rich here detailing CAR’s frustrations) Are either of you saying that there are no listings that are horrendously over market and just sitting? Is that something a buyer in an inventory constrained market shouldnt be frustrated by?

To put it another way,

“seller will entertain offers between ‘peak bubble pricing’ and ‘absoulute delusion'” is not a good way to sell houses. And why is it that offering (what the buyer considers) to be market prices is so insulting? Dont like the offer, dont take it.

or

[quote] 3. These are asking prices and not sold prices. I can ask $1M for my pencil and be delusional. [/quote]

Yes, exactly her point.[/quote]

DWCAP,

Thank you. This is exactly what I’m trying to get across.

[an]

[quote=CA renter]
Because in an **inventory constrained** market, the few listings that are out there are tne ones we have to contend with. Anything that is fairly reasonably prices has multiple offers within a few hours. It’s not nearly as easy as you might think, AN.[/quote]
Why not just view those property as not for sale. It would mean that your supply pool is even smaller, but essentially, that’s what it is. They don’t need to sell, so they’re just putting it out there. I know a few people who are like that. They don’t need to sell, but if someone is will to buy it at their asking price, they’ll sell it. So, for most people, those houses should be counted at all.

Oh, I know about the multiple offers. I’ve been in enough bidding war to know. But as the close price shows, even after the multiple offers, it’s still well bellow those wishful listings you posted.

Maybe you should take a step back and look at it different. Don’t view all the property on the MLS as property for sale. I removed short sales that already have offers, I removed wishful listings. The remaining inventory is what I would consider, true inventory.

With regards to wishful listings, how many people do you know that would knock on any house they like and ask the owner if they would like to sell? These wishful listings are in essence, a way for owners to say, you don’t need to knock on my door, I’m tell you I’m willing to sell, but only at my price. If you don’t like the price, don’t bother.

[an]

[quote=CA renter]
Because in an **inventory constrained** market, the few listings that are out there are tne ones we have to contend with. Anything that is fairly reasonably prices has multiple offers within a few hours. It’s not nearly as easy as you might think, AN.[/quote]
Why not just view those property as not for sale. It would mean that your supply pool is even smaller, but essentially, that’s what it is. They don’t need to sell, so they’re just putting it out there. I know a few people who are like that. They don’t need to sell, but if someone is will to buy it at their asking price, they’ll sell it. So, for most people, those houses should be counted at all.

Oh, I know about the multiple offers. I’ve been in enough bidding war to know. But as the close price shows, even after the multiple offers, it’s still well bellow those wishful listings you posted.

Maybe you should take a step back and look at it different. Don’t view all the property on the MLS as property for sale. I removed short sales that already have offers, I removed wishful listings. The remaining inventory is what I would consider, true inventory.

With regards to wishful listings, how many people do you know that would knock on any house they like and ask the owner if they would like to sell? These wishful listings are in essence, a way for owners to say, you don’t need to knock on my door, I’m tell you I’m willing to sell, but only at my price. If you don’t like the price, don’t bother.

[an]

[quote=CA renter]
Because in an **inventory constrained** market, the few listings that are out there are tne ones we have to contend with. Anything that is fairly reasonably prices has multiple offers within a few hours. It’s not nearly as easy as you might think, AN.[/quote]
Why not just view those property as not for sale. It would mean that your supply pool is even smaller, but essentially, that’s what it is. They don’t need to sell, so they’re just putting it out there. I know a few people who are like that. They don’t need to sell, but if someone is will to buy it at their asking price, they’ll sell it. So, for most people, those houses should be counted at all.

Oh, I know about the multiple offers. I’ve been in enough bidding war to know. But as the close price shows, even after the multiple offers, it’s still well bellow those wishful listings you posted.

Maybe you should take a step back and look at it different. Don’t view all the property on the MLS as property for sale. I removed short sales that already have offers, I removed wishful listings. The remaining inventory is what I would consider, true inventory.

With regards to wishful listings, how many people do you know that would knock on any house they like and ask the owner if they would like to sell? These wishful listings are in essence, a way for owners to say, you don’t need to knock on my door, I’m tell you I’m willing to sell, but only at my price. If you don’t like the price, don’t bother.

[an]

[quote=CA renter]
Because in an **inventory constrained** market, the few listings that are out there are tne ones we have to contend with. Anything that is fairly reasonably prices has multiple offers within a few hours. It’s not nearly as easy as you might think, AN.[/quote]
Why not just view those property as not for sale. It would mean that your supply pool is even smaller, but essentially, that’s what it is. They don’t need to sell, so they’re just putting it out there. I know a few people who are like that. They don’t need to sell, but if someone is will to buy it at their asking price, they’ll sell it. So, for most people, those houses should be counted at all.

Oh, I know about the multiple offers. I’ve been in enough bidding war to know. But as the close price shows, even after the multiple offers, it’s still well bellow those wishful listings you posted.

Maybe you should take a step back and look at it different. Don’t view all the property on the MLS as property for sale. I removed short sales that already have offers, I removed wishful listings. The remaining inventory is what I would consider, true inventory.

With regards to wishful listings, how many people do you know that would knock on any house they like and ask the owner if they would like to sell? These wishful listings are in essence, a way for owners to say, you don’t need to knock on my door, I’m tell you I’m willing to sell, but only at my price. If you don’t like the price, don’t bother.

[Author]

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