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Oh-no-second

I call them ignoseconds. It used be part of some comedian’s routine and it represents the precise moment in time when you’re closing the door of your car and you realize you just locked your keys in it.

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According to Zillow, it sold for $689,000 on 08/29/2006

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Yeah, I’d agree. She knows enough about the market to try to convince someone to hold the property until the market recovers, but doesn’t know she could easily find a place that more than meets her requirements if she actually had the financials to cover a $600,000 property?

I’m sure there’s quite a bit more baked into her request that the seller carry…

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The $12,000 is most likely a home equity loan. I see this from time to time on Zillow. The one thing you can be sure it was not is a sale for $12K

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Whoever takes him up on his offer is in an outstanding position to lose $180,000, so clever on the seller’s part and stupid on the buyer’s…

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As the market goes down buyers still have about the same amount of money to spend – they just buy nicer places.

See, right in the middle of the post, not even trying to make the point. This is why the median holds up.

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There are plenty of rentals available. The ones that are priced right move fast. It’s a market like anything else and seems reasonable right now. I’m not too worried about rents going up much any time soon.

Follow craigslist for a week and I think you’ll agree.

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I can’t explain that particular listing, but I have seen houses that have a pretty big spread in their “value range” listing (ha!) where they adjust the lower end up.

For example, a house might be listed between $849-$999 and they’ll change it to $899-$999. I suspect they may be getting offers at or below the bottom end of the range and since they’re not serious about it (i.e. they really want $999), they’ll just raise the lower end.

Unfortunately, ziprealty doesn’t keep track of changes to the whole value range, just the lower end. As a matter of fact, I’ve seen people raise and lower the upper part of the range and zip doesn’t track this at all.

On the Simsbury listing, it could be that they were just never serious about the $599 price. It was pretty short lived.

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I heard a good one on a radio show the other day. The host said something to the effect of “you bought a house so you could flip it. The house is flipping you!”

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sdr–

That makes sense. Crappy or not, seems like there’s fairly steady demand for those kinds of places. You just pay more the nicer they get.

I’d have been interested myself about 20 years ago.

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It must have been a good deal because the properties we’ve been looking at aren’t moving that quickly.

That said, we’re looking at newer properties that are higher priced than older ones.

I’m sure it’s mostly due to the fact that they have to ask for more to minimize negative cash flow, so the price is higher than the HOTTTTTer market will bear.

We’ve passed on every one we’ve seen (and they linger on the rental market), buy I’m sure we’ll find one that’s a good value to us.

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I was joking, but I would agree that upgrades have been inflated above their “value” along with everything else associated with housing. Kind of makes sense, doesn’t it (the correlation that is, not the hyper-valuation)?

For what it’s worth. I didn’t do a thing to the kitchen as it was like that when I bought the house. I wanted to rip out the granite and put in (what I consider) a beautiful glazed mexican tile.

Needless to say, most people thought that was a bad idea, but only because of the current popularity of granite (in other words, if it were reversed, they’d put in granite regardless of economics or whether I preferred it in my own home!)

I didn’t do it because I’m not wasteful by nature. I mean it’s certainly nice enough, so I figured I’d keep it for 7-10 years or so and then do what I wanted, but as it turns out we sold before that time came.

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no_such_reality– I happened to notice you prefer maple cabinets and dark green granite. The house I just sold had maple cabinets and dark green granite. I should have sold my house to you! Then again, it doesn’t sound like I would have gotten a premium for them!

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no_such_reality and asianautica–

I agree as well! Whew!

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That’s the beauty of a buyers market, especially as it becomes more apparent to everyone. Sellers already know you have options open to you.

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