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sdrealtor
ParticipantThey listed with an experienced competent realtor that will guide them to get it sold if they are willing to listen. It should sell now, the only question left is at what price?
There are defintely better places to live in that area and the discount it sells at should reflect this.
ParticipantYou are correct. I made the assumption that odd numbered streets are on the east side of the road as they are in most places around here. If that was the case, Merlin would have backed up to Hidden Valley. With that piece of information, Turnstone now has a best case of 800, probably less. And yes the market is worse now. Things really seemed to have slowed considerably the last 2 weeks. I think we can both agree that the house on Turnstone has little chance of selling anywhere close to what they are asking.
ParticipantWhile the turnstone house is overpriced I dont believe its as much as you suspect. The house on merlin backed up to a busy street. It a good market that can make a difference of $50K to $100K. In a buyers market it can make a house extremely difficult to sell. My guess is the house on Turnstone eventually sells around 825. If it was on the market 6 months ago they might have gotten closer to 850.
ParticipantFunny, I think most people would prefer getting accurate information than inaccurate information.
ParticipantOr you could pick up the phone and call a top notch realtor and get the same information without obligation for FREE in a few minutes.
ParticipantAll very sound analysis. Unfortunately all it takes is one nitwit to come in a pay the price. I’m with you on the price but RE markets are far from rational.People do stupid things all the time.
ParticipantZillow will always be inaccurate in a great deal of cases. One major problem is that the zetimates are based upon what is in the assessors records which in many cases is wrong. For example, my primary residence is listed in the tax assessors records 200 sq ft smaller with 1 less garage and 1 less bedroom than I have. It does not account for my location, view upgrades or yard.
Airline tickets are commodities, essentially all are equal but for the price and (window, middle aisle). Homes are all unique and have many attributes that could never be accounted for by a algorithim.
ParticipantPretty much right on except the folks on Dora being $100K less rich in the end. They never were that “rich” except possibly in their hallucinations.
BTW, if you like that area check our parkcrest and the other streets up on top just south of Birmingham. thats where I would want to be!
ParticipantIts hard to get cumualtive DOM for a FSBO unless the owner paid to get in the MLS. A house is “listed” when it is under contract with a real estate agent and generally posted in the MLS. If someone chooses to write 4 Sale on a carboard box and staple it to their garage door there is not way to track that and to be fair the house isnt really listed.
ParticipantI didnt check last week but it has pretty much been the same for several months. It is also off on BR/BA count, garage count and sq footage. When I increase the sq ft by about 200sq ft, correct it to a 3 car garage, add 1 bedroom and the extensive upgrades to my house the zestimate goes down 100K!
ParticipantMy house is 200k below what it would realistically sell for and my next door neighbors is 100K too high.
ParticipantI dont know whether I would say its painful for the owner of Dora. They tried to beat the system by going FSBO and failed. Their expectations were unrealistic and they have realized they are not going to be successful going it alone. Comps for this 1200 sq ft home are around 750K, if they get anything near that they will have done fine.
The other FSBO you mentioned looks to be a nicely remodelled home the owners have been in for about 5 years. It’s only 1000 sq ft and is on a very noisy street. The highest comps are about 680K. If they were truly anxious to sell they would be priced $50 to 100K lower.
As a buyer the lesson here is that FSBO’s are generally the worst deals on the market. Typically unrealistic sellers with mispriced properties and no experienced licensee to protect both buyer and seller from themselves. The sale in Escondido for Hidden Meadows model home was a perfect example of this. Get good professional help.
ParticipantThe housing market is still fairly liquid. You just can’t Supersize that price anymore;)
Participantbalasr,
You were not the offending party that Bugs response was directed at and your cooments never identified any of the sellers personally to my knowledge.Regarding Shadowridge, I know the area well and speak regularly with one of the market leaders there. The market is very slow there and he/she is sitting on many listings that arent going anywhere. But you probably know this already.
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