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an
ParticipantWow, Riverside and SB really got slaughtered. I’m in awed right now that volume can drop like that. Amazing.
ParticipantThe internet revolution can’t get to the RE fast enough. I hope, one day, all of these info will be public and you can easily do a search using your favorite search engine to get all the data you want and construct your own analysis using a spreadsheet app.
There’s really no statistic that will be able to tell you where the bottom is. You won’t even know where the bottom is until you past it. People who like to call bottom will call bottom all the way down. Just like people who like to call top called top all the way up. I’d say, don’t worry about the bottom and just buy a house when it make sense relative to income and rent. The rest will fall into place.
ParticipantThe internet revolution can’t get to the RE fast enough. I hope, one day, all of these info will be public and you can easily do a search using your favorite search engine to get all the data you want and construct your own analysis using a spreadsheet app.
There’s really no statistic that will be able to tell you where the bottom is. You won’t even know where the bottom is until you past it. People who like to call bottom will call bottom all the way down. Just like people who like to call top called top all the way up. I’d say, don’t worry about the bottom and just buy a house when it make sense relative to income and rent. The rest will fall into place.
May 15, 2007 at 11:41 PM in reply to: Gorgeous 5 bedroom 2 bath located in Poway. Priced to sell! #52990ParticipantI love blue, but man, I can’t look at that house for more than 10 seconds. My poor eyes.
ParticipantThe one that’s down the street that is the same size was sold for $680k. It’s in a cul-de-sac, so I’m not sure if that play a part of the price difference, but it was also sold on 07/10/2006. So, up until 04/29/07, it was priced at $625k. IF price hasn’t changed for the last year in 92009, the this house was @ $55k discount, now $85k discount. I don’t know what price move has been like in the area the last year, so maybe you can enlighten us. That might give a clearer picture.
ParticipantI think we all agreeing to the same thing but saying it differently. turnkey AND great price = fixer AND exceptional price. I can almost guaranty that if you have 2 house in the same street, on the same side with the same lot size and floor plan & same view, one a turnkey house @ $600k and one a dump/fixer @ $400k, the dump/fixer will go first. Obviously this example will never take place in real life. My point is if a fixer + cost of fixing + cost of time to fix + cost of hassle of dealing w/ fixing is less than turnkey AND great price, the fixer will sell first. What we’re seeing right now is fixer pricing to close to turnkey, hence they’re not selling and turnkey houses selling.
ParticipantI would have to disagree. As a prospective buyer, I don’t care about being turnkey or not. Price would make a bigger difference to me. If a non-turnkey house is price as such, I would prefer that over an similar turnkey house since I get to customize it the way I like to. Many turnkey houses still have things that they upgraded that I do not like.
ParticipantI recently got another email from the auction people. Apparently, not all properties that were “sold” was actually sold. The email showed 22 properties were actually wasn’t sold and the lender are trying to liquidate them again, but this time, not through another auction. They show you the “previous value” price like before and they now show “LENDER LIQUIDATION PRICE”. The ones that I noticed, the winning bid was well below this “LENDER LIQUIDATION PRICE”. So I guess they didn’t meet the reserve price.
ParticipantIt seems like the only people who are happy are the auction house people. They get paid either way.
ParticipantYou know me better than that. I was just giving him the business.
This is why I put the smiley face at the end of my comment :-). Trying to lighten up this conversation.
ParticipantOn top of that, if you said to him in person what you just said to me online he would kick your ass all the way to Jamul.
That’s a pretty bold statement to make. sdr, do you know Josh personally? If not, he could very well be a 6’5″ 250lb guy or a black belt in martial arts, or both :-).
Participantsdr, I’m not kidding, but I do agree that there are no perfect laboratory settings in the real world. That’s why I don’t think we’ll ever know if it’s price or marketing or both that sell the house. As a buyer with access to listings from ZipRealty, price is the key for me. But maybe other generation are different. I think people in my generation and younger will be gladly buy everything online. I know many people who bought their cars online from across the country and have it shipped to them. So buying RE is only logical next step. If we have all the listings online, either through Zip or Zillow or Craigslist, it doesn’t matter to us. We find what want, we don’t like going to sells people and ask them want we should get.
I usually don’t go to bed till at least 12 or 1, so the night is still young for me :-).
ParticipantThe only way to prove if the price or the marketing or both is the main factor would be having 2 exact same house next to each other with the price. One with a lot of marketing and one with few marketing and see which one sell first. Then do the same experiment with a lower price for the house with less marketing and see which one sell first.
Participantsdr, in a declining market, I agree with you. Price @ 0 DOM would most likely be higher than price @ 100 DOM. However, if it was an appreciating market like it was 2-3 years ago, wouldn’t price @ 100 DOM be higher than price @ 0 DOM? So, in an up market, if you priced a $700k house @ $750k, no one will touch it @ day 1. But 100 days later, if price appreciated past $750k, all of a sudden, to buyers at the time, $750k would be a deal and they would snatch it up. Maybe I’m just talking nonsense, but i swear that make sense to me :-).
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