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Jazzman
ParticipantHow much under list price are homes selling for is going to depend on price range, location and a host of other variables such as whether the home is distressed, how long it’s been on the market, and how motivated the seller is. You can get a rough guide with Redfin’s list to price graph, but it’s a good idea to do your own comparative market analysis. Run all sales of similar homes, and check to see what they were listed for prior to being sold. But remember, just because they average say 95% doesn’t mean you can’t haggle more off. Look for weaknesses, don’t be too swayed by your broker, and support you offer with facts. Play one seller off against another, don’t be afraid to low-ball, or walk away from several homes before deciding. So try and avoid falling in love with a home, and make sure your spouse in on the same page. Be very aware of broker stories like they’ve had several other or higher offers, or that bidding wars are happening everywhere. Try and get as much information about the home before you start paying for inspections; electrical, plumbing, roof, HVAC, remodeling, motivations for sale, seller’s personal circumstances, corner lot’s, easements, road noise, hazard zones etc. Remember, it is a buyer’s market, but more so for those who have done their homework. And remember that a home is just a chunk of timber thrown together to form a big box to hide in.
Participant[quote=urbanrealtor][quote=Jazzman]Seems a little harsh on what is after all the cradle of Western civilization. But I’ll grant you some Germans may be a little miffed. It’s a wonderful country and people, but much of southern Europe places different emphases on living, and tax dodging is national pastime. Often, the higher the taxes the more the dodging which feeds back into itself …at least that is what it seems.[/quote]
Dude.
Baghdad is pretty close to the location of the first cities and agricultural development.It is considered the cradle of all civilization and was the land the Jews wandered from.
That didn’t count for shit when they tried to annex Kuwait.
We bombed the bejesus out of them and then went back 12 years later and ruined the country just for good measure.
Now we’re leaving.
If anything Greece is getting off lucky.[/quote]
Dude, Greece isn’t Iraq which isn’t Mesopotamia and what have the Jews got to do with it LOL. Yes, they are lucky and probably couldn’t give a rat’s ass what some blogger thinks in San Diego.ParticipantSeems a little harsh on what is after all the cradle of Western civilization. But I’ll grant you some Germans may be a little miffed. It’s a wonderful country and people, but much of southern Europe places different emphases on living, and tax dodging is national pastime. Often, the higher the taxes the more the dodging which feeds back into itself …at least that is what it seems.
ParticipantBearishgirl, I found that short sales are good for backups or Plan B’s. Tying up a home as ‘pending’, especially if you can get a ‘do not continue to show’ status, allows you to continue a search. An insurance if you will.
Participant[quote=SD Realtor]…the vast majority of buyers DO NOT act in this manner. More often then not they are driven by other factors and are more concerned with moving on to other stages of their lives then getting the bottom most dollar. [/quote]
Therein lies a paradox. Bottom most dollar or just value for money, this doesn’t deny the fact that the very same people spend a small fortune and several years on education and training in order to get well paid jobs to service these huge debts. Yet little of that investment seems to go towards figuring this out.Participant[quote=outtamojo][quote=Jazzman]”[T]here is and will for the most part always be people that will step in as buyers …The desireability factor simply makes it so.”
SD, not sure I agree here. I think that willingness is for the most part buyers not realizing the score, and agreeing to buyer broker pressure. I also don’t see desirability as being a huge factor. I have had offers accepted in three highly desirable places, Santa Barbara, Maui, and France WELL BELOW asking price. However, in each case I went against my broker’s advice and beat the so-called odds. Tenacity, patience and a firm belief it’s a buyer’s market is all it takes. Any hint of uninformed buyer competition and you walk away. Home prices are still very over-valued in many high end areas. The housing market has been socialized, and the industry needs to be grateful for the benefit check it receives from the tax payer. So it’s not the market is “a buzz”, as there is no true market, and many realities still haven’t been absorbed by everyone.[/quote]
When offers are accepted “well below” list price is that so much due to only “informed buyers” making offers or dreamy sellers with way too high listing prices? You say desireability is not a factor but I am curious about the days on markets for your properties…[/quote]
Yes and no. There are still many delusional sellers out there, but as I said it is as much about realizing buyers are in a very strong position, and that your broker may not be exploiting that to your best advantage. DOMs are always a factor as is looking for other weaknesses. Why the curiosity with that?
Participant“[T]here is and will for the most part always be people that will step in as buyers …The desireability factor simply makes it so.”
SD, not sure I agree here. I think that willingness is for the most part buyers not realizing the score, and agreeing to buyer broker pressure. I also don’t see desirability as being a huge factor. I have had offers accepted in three highly desirable places, Santa Barbara, Maui, and France WELL BELOW asking price. However, in each case I went against my broker’s advice and beat the so-called odds. Tenacity, patience and a firm belief it’s a buyer’s market is all it takes. Any hint of uninformed buyer competition and you walk away. Home prices are still very over-valued in many high end areas. The housing market has been socialized, and the industry needs to be grateful for the benefit check it receives from the tax payer. So it’s not the market is “a buzz”, as there is no true market, and many realities still haven’t been absorbed by everyone.
Participant[quote=jimklinge]
I’ve taken so much crap for so long that I never want to come across as a cheerleader.
But everywhere I go in San Diego County, which lately has been covering more than just North San Diego County Coastal, I see the same results.
Is the market hot? Yes, for those sellers who get the price right.[/quote]
From what I have seen of your videos, you don’t some across as a cheerleader, hence my surprise with your “market is abuzz” title. Isn’t it true that bidding wars were happening even when prices were falling off a cliff, and any home priced to attract buyers will sell? The question is what percentage of sales fall into this category, and has there been a marked increase in that percentage more recently?
Participant[quote=equalizer] They have unreasonable expectations for what they can get relative to the actual demand for their traits.
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Now translate that into housing market trends. Of course, now I get it. It’s the same humans.Participant[quote=Rich Toscano]…what’s true in his segment may not be true everywhere.[/quote]
Yes, hence the curiosity.ParticipantNo I think it was Gop.
ParticipantDouble dip? We never got out of the first recession.
ParticipantIt’s spread to Canada and right across the Atlantic …it’s worldwide. Irony is the West has been trying to impose democracy in the middle east, but the Arab Springs has shown us how to reclaim ours. Yes, there will almost certainly be violence as there nearly always is. I don’t think that matters much for as long as it doesn’t become bigger than the cause.
October 9, 2011 at 7:34 AM in reply to: Global Financial Meltdown Possible in 2 to 3 Weeks: IMF Robert Shapiro #730340ParticipantRound two of batten down the hatches.
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