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SD Realtor
ParticipantHuys lets see what this closes at before we do more analysis. Also with regards to comps, I get ALOT of questions like this from frustrated buyes. That is, they may miss out on a home that is initially listed very low, but then bid up. Still the home sells for less then comps in the area. Is that good? Absolutely. Is it something that makes an instaneous response to other comps when those other comps get appraised?
Well I am not an appraiser. That question would be much better answered by Bugs and/or other appraisers.
My OPINION is that I believe it is an analogy to rain… A sprinkle here or there and the ground (which represents the overall regional market where the low sale price is at) doesn’t get wet. However as more and more of them happen, the ground gets wet and stays wet. See what I am saying? One comp in my opinion is not a comp killer. However when the number of comps that are significantly lower start to support more then a trivial percentage of sales or at least represent a strong trend (for the region) then I believe you get the big moves down because the higher priced places that are true comps simply will not appraise.
The list price of this home is definitely near the 250/sf level and the comps for attached homes similar are well over the 300/sf. I expect it will move for the mid to high 300’s when it is said and done. Just a guess.
SD Realtor
ParticipantHuys lets see what this closes at before we do more analysis. Also with regards to comps, I get ALOT of questions like this from frustrated buyes. That is, they may miss out on a home that is initially listed very low, but then bid up. Still the home sells for less then comps in the area. Is that good? Absolutely. Is it something that makes an instaneous response to other comps when those other comps get appraised?
Well I am not an appraiser. That question would be much better answered by Bugs and/or other appraisers.
My OPINION is that I believe it is an analogy to rain… A sprinkle here or there and the ground (which represents the overall regional market where the low sale price is at) doesn’t get wet. However as more and more of them happen, the ground gets wet and stays wet. See what I am saying? One comp in my opinion is not a comp killer. However when the number of comps that are significantly lower start to support more then a trivial percentage of sales or at least represent a strong trend (for the region) then I believe you get the big moves down because the higher priced places that are true comps simply will not appraise.
The list price of this home is definitely near the 250/sf level and the comps for attached homes similar are well over the 300/sf. I expect it will move for the mid to high 300’s when it is said and done. Just a guess.
SD Realtor
ParticipantI am telling you guys… do not underestimate that denial is still strong. Believe me I do not believe the market will go up but alot of stubborn sellers sure the heck do.
Look… I think most of us on this site are pretty bright. Still though, none of us should be surprised when there are new bailouts proposed, when there are more stories about the lending industry forgiving loans, and about the amount of stubborness/denial that still resides in the minds of sellers.
SD Realtor
ParticipantI am telling you guys… do not underestimate that denial is still strong. Believe me I do not believe the market will go up but alot of stubborn sellers sure the heck do.
Look… I think most of us on this site are pretty bright. Still though, none of us should be surprised when there are new bailouts proposed, when there are more stories about the lending industry forgiving loans, and about the amount of stubborness/denial that still resides in the minds of sellers.
SD Realtor
ParticipantI am telling you guys… do not underestimate that denial is still strong. Believe me I do not believe the market will go up but alot of stubborn sellers sure the heck do.
Look… I think most of us on this site are pretty bright. Still though, none of us should be surprised when there are new bailouts proposed, when there are more stories about the lending industry forgiving loans, and about the amount of stubborness/denial that still resides in the minds of sellers.
SD Realtor
ParticipantI am telling you guys… do not underestimate that denial is still strong. Believe me I do not believe the market will go up but alot of stubborn sellers sure the heck do.
Look… I think most of us on this site are pretty bright. Still though, none of us should be surprised when there are new bailouts proposed, when there are more stories about the lending industry forgiving loans, and about the amount of stubborness/denial that still resides in the minds of sellers.
SD Realtor
ParticipantI am telling you guys… do not underestimate that denial is still strong. Believe me I do not believe the market will go up but alot of stubborn sellers sure the heck do.
Look… I think most of us on this site are pretty bright. Still though, none of us should be surprised when there are new bailouts proposed, when there are more stories about the lending industry forgiving loans, and about the amount of stubborness/denial that still resides in the minds of sellers.
SD Realtor
Participant“Many seasoned professionals have been burned by jumping in too early”
Probably a pretty accurate statement. The people who make money in these situations don’t get them at an REDC auction or anything like that. You see these guys at trustee sales and they are VERY good at what they do. The fact that you see them letting all of the properties at trustee sales go back to the lender instead of buying them themselves indicates that they do not see value yet.
SD Realtor
Participant“Many seasoned professionals have been burned by jumping in too early”
Probably a pretty accurate statement. The people who make money in these situations don’t get them at an REDC auction or anything like that. You see these guys at trustee sales and they are VERY good at what they do. The fact that you see them letting all of the properties at trustee sales go back to the lender instead of buying them themselves indicates that they do not see value yet.
SD Realtor
Participant“Many seasoned professionals have been burned by jumping in too early”
Probably a pretty accurate statement. The people who make money in these situations don’t get them at an REDC auction or anything like that. You see these guys at trustee sales and they are VERY good at what they do. The fact that you see them letting all of the properties at trustee sales go back to the lender instead of buying them themselves indicates that they do not see value yet.
SD Realtor
Participant“Many seasoned professionals have been burned by jumping in too early”
Probably a pretty accurate statement. The people who make money in these situations don’t get them at an REDC auction or anything like that. You see these guys at trustee sales and they are VERY good at what they do. The fact that you see them letting all of the properties at trustee sales go back to the lender instead of buying them themselves indicates that they do not see value yet.
SD Realtor
Participant“Many seasoned professionals have been burned by jumping in too early”
Probably a pretty accurate statement. The people who make money in these situations don’t get them at an REDC auction or anything like that. You see these guys at trustee sales and they are VERY good at what they do. The fact that you see them letting all of the properties at trustee sales go back to the lender instead of buying them themselves indicates that they do not see value yet.
SD Realtor
Participantocrenter – These are all really common right now. Your record of that listing you featured that has 11 of them hasn’t been surpassed that I know of but I have a 6er on my Lakeside listing as the lender processes the latest offer we received.
SD Realtor
Participantocrenter – These are all really common right now. Your record of that listing you featured that has 11 of them hasn’t been surpassed that I know of but I have a 6er on my Lakeside listing as the lender processes the latest offer we received.
SD Realtor
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