If everyone would just stop listing their homes, and stop cutting
their prices, we wouldn't have a problem. They're ruining it for
everyone!
Get ready HP'ers for neighbor-versus-neighbor fighting...
September 22, 2006
Hearing this one yet on talk radio?
Subscribe to:
Post Comments (Atom)
35 comments:
"...They're ruining it for everyone!"
Spoken like a true FB. As an aside, I could say the same thing now that I can't afford to buy a POS 2 bedroom.
Take your medicine already.
Where are the August existing and new home sales numbers? This is the month that everyone has been waiting for.
Let the Katrina victims live in those unsold homes and take the pressure off of Houston!
Lets not forget the resetting of the adjustable rate mortgages.
But then those stubborn speculators are refusing to lower the prices like the greedy one who bought a home for 2,000,000 did a little fix up and put it on the market for 11,000,000! Would you deny such a speculator such a tidy profit?
CONDOS, CONDOS, CONDOS, CONDOS, CONDOS, CONDOS, CONDOS, CONDOS, CONDOS, CONDOS, CONDOS, CONDOS, CONDOS, CONDOS, CONDOS, CONDOS, CONDOS, for sale all over the Chicago area with NO buyers..... tsk tsk tsk
david in jax,
Should be next week. New home sales are scheduled to be reported next Wednesday, not sure about existing but should be right around then, too.
Next week will be interesting.
Thanks TJ. This should be the big month.
Everybody was kung fu fighting!
Those cats were fast as lightening!
It was a little bit frightening!
Oohhh Ohhhhh Kung Fu Fighting!
Ever since you posted that way cool picture of Bruce Lee and Chuck Norris on this blog I've not been able to get that song out of my head! Just love it! Post it again!
Should be next week. New home sales are scheduled to be reported next Wednesday, not sure about existing but should be right around then, too.
I'll go out on a limb and say that the home sales stats for Aug. tank big time. I recall reading on one of these bubble blogs that mortgage purchase applications fell every week in Aug, before perking up a bit the first couple weeks of Sept (suckah's rally.)
LOL! OMG it's hilarious how transparent that is!
Hey it's your duty to take YOUR house off the market before prices slide too much so I can sell MINE.
They all deserve the rogering they're gonna get!
Existing home sales Mon. 25th @ 10:00am EST
New home sales Wed. 27th @ 10:00am EST
http://mam.econoday.com/calendar/US/EN/New_York/year/2006/month/09/day/25/daily/index.html
THE ECONOMY IN DENIAL: FALLOUT FROM
THE BURSTING HOUSING BUBBLE
http://tinyurl.com/zenn9
California's August numbers are out from DataQuick. For example, Los Angeles County sales fell 14% from July to August -- to 9,193 -- and the median price fell .6% to $517K. Conversely, Bay Area sales were up, although the median price was down 1.1%.
See Calculated Risk's comments for more -- Sept. 20 for the Bay Area and Sept. 19 for Southern California.
(html link because paintblot asked)
paint, you're a regular blogger Nazi
rotten flippers...ruining for all the other flippers
What is an "FB?"
FB = F*cked Buyer
We need a glossary
GF = Greater Fool
REIC = Real Estate Industrial Complex
Did Suzanne research that?
So do they wan us to not sell, or lower prices? You can't have both. What an idiot?!?!?!
Could it be that agents are greedy high comm cause high prices
north GA taking hit agents want 6-7 % that means on 350,000 they make about 24,000.
The fed is leaving rates the way they are. This could be just what we need. Great time to buy
I wish someone would buy mine I have lowered as much as I can. over 100 days and ready to throw myself in front of a truck. I am getting ready to sign with one of these flat fee listings.
It true slashing prices will not help. cutting agent fees will it gives sellers more room to bargin
Of course slashing prices will help. You have to make your property more attractive to buyers like me, and we are terrified, waiting on the sidelines right now. Unless I get a steal I am staying in my current house and saving all my money until the market corrects.
I would even say that because sellers are so greedy and not adjusting to the market, the bubble has the potential for far more pain than it would have. When I sell my current home I will price accordingly.
Doesn't work. Why didn't all the buyers just stop buying a few years ago so prices would go down?
most seller have there prices so high just to cover realtor fee
I guess you will be staying in your home, now that the rates are good and will be for a long time. new sellers will price homes higher. On the other hand now is a great time to buy
the office of federal housing enterprise oversight (ofheo) has a house price calcutator WWW.ofheo.gov its really cool. You still must consider spects and loction of a home, great tool check it out
FS here, I have my home price just perfect you might even say a little low. 2 year old home with everything you could ever want. no bites. I have lowered 3 time from want my agent had said the home should be priced. so slashing price, just dose not work. when the market slows it s*cks.
make your property more attractive to buyers, well lets think about that for a moment.....
wow! I see location,sqaure footage,upgrades and low rates mean nothing
dirt low prices are bad for everyone
Just price it right
Anonymous FS, lowering your home doesn't work if you started far above the real value of the home (relative to average rents and average incomes). Even though you've lowered the price of your home you are probably still far above the true value of your home.
I wouldn't trust your agent's judgement - he/she likely doesn't have a clue how to accurately price a home.
"California's August numbers are out from DataQuick. For example, Los Angeles County sales fell 14% from July to August -- to 9,193 -- and the median price fell .6% to $517K. Conversely, Bay Area sales were up, although the median price was down 1.1%."
LA county yoy's for all the zips are indeed baffling. The lower-end areas in the $300,000-$500,000 range are still showing 10-25% yoy increases while the higher priced coastal zips are seeing the big yoy drops. It varies by zip for each individual area:one beverly hills zip shows a +4.6 while the next BH zip shows a -9.5. That means that the homes only drpped from 2 million to 1.8, a $200,000 haircut. Many high priced areas such as Calabasas, pacific palisades,Venice,Hermosa beach,Brentwood,Bel-aire are indeed seeing 10-20% yoy drops. Other areas still showing slight increases.
In the innor city crap zones of LA the YOY's still positive from 10-20%, revealing that a lot of working class innor city folks are being taken to the cleaners.
Pasadena overall shows -2 to -4 % yoy declines in its 7 zips. Torrance basically flat or slightly neg. Ditto for Van Nuys. Glendale mostly neg, except for 2 zips. Downey, a decent stable burg, has zips up 10-17% yoy. Norwalk, which is a joke, shows +7.6. Compton, the biggest joke of all, shows +20-25%
FS here, I know its not the price. lots of inventory and rates. I hope now that the rates are staying the same things will pick up
Let's think about THIS for a moment - Try reading the ENTIRE post.
As a buyer, I do not care if you paid too much for your home during the "get in now or you'll miss out" phase. No offense - I just don't. I am not buying unless I get a deal. "Making your home more attractive to buyers" doesn't just mean upgrades. What is the point of the upgrades if you price it incorrectly? If you are in over your head, call your lender and try to work it out. Just telling it from the buyer's perspective.
PS - If the realtor you are using now told you to hurry up and buy or miss out, run for your life. If not - negotiate the heck out of the commission. Play realtors against each other if you feel you need one. Putting a FSBO sign in your yard, will bring low commission offers in no time!
you should try WWW.ofheo.gov it works, I used it when pricing my own home, we are sitting but, the days of sold in 30 days are over. when you are dealing with new and old homes it just takes time. If the property rises 5% each year in your area you should take that into account. I am also buying a home. I understand both sides. Each area aroung the country rises at a different % so you just do not know.
Post a Comment