Housing market appears near trough, with signs of recovery in data: National Association of Realtors

[AnaAndDaniel 0]

last year, anyone could practically post a sign in the yard and the house was pending before sundown

This year (at least in my neck of the woods - central nj) it's been the exact opposite. I don't get the sense that market values have fallen much (5-10%) but homes are definitely not selling as fast as they used to. Heck, a lot of units that got listed this spring haven't sold (and it's Nov already) so the owners are yanking them off the market or deciding to rent them out instead. I think if every unit that was 'on sale' back in April/May had to sell by now, prices would have had to come down more.

you looking to sell gupt?

Daniel

:energetic:

Nope.

changed your mind about leaving joisey?

Daniel

:energetic:

For now. Long story.

cliff note version please! nha, it is cool. good luck either way.

Daniel

:energetic:

[w¡n9Nµ7 §£@¥€r 123]

last year, anyone could practically post a sign in the yard and the house was pending before sundown

This year (at least in my neck of the woods - central nj) it's been the exact opposite. I don't get the sense that market values have fallen much (5-10%) but homes are definitely not selling as fast as they used to. Heck, a lot of units that got listed this spring haven't sold (and it's Nov already) so the owners are yanking them off the market or deciding to rent them out instead. I think if every unit that was 'on sale' back in April/May had to sell by now, prices would have had to come down more.

That has to do with sellers have unrealistic expectations of the market. Speculators who don't think that the mkt has changed, but got in too late to ride the bandwagon.

I've seen listings sit for essentially one reason: price. You price it right, it will sell. Granted there are other factors involved as well, but that's the biggun

In my area, there is a brand-new complex of condos/townhomes that is being built right now. A 5 minute walk away. Those sold this year without a problem. I'm guessing/hoping once that is all built out and occupied, buyers interested in this area may be willing to look at pre-existing older townhomes/condos again. Last year, a different complex was being built but there were so many people willing to buy that the new units and older ones all sold.

cliff note version please!

Women are irrational.

Cliff Notes rarely make any sense. Sometimes you just gotta read the book

[AnaAndDaniel 0]

last year, anyone could practically post a sign in the yard and the house was pending before sundown

This year (at least in my neck of the woods - central nj) it's been the exact opposite. I don't get the sense that market values have fallen much (5-10%) but homes are definitely not selling as fast as they used to. Heck, a lot of units that got listed this spring haven't sold (and it's Nov already) so the owners are yanking them off the market or deciding to rent them out instead. I think if every unit that was 'on sale' back in April/May had to sell by now, prices would have had to come down more.

That has to do with sellers have unrealistic expectations of the market. Speculators who don't think that the mkt has changed, but got in too late to ride the bandwagon.

I've seen listings sit for essentially one reason: price. You price it right, it will sell. Granted there are other factors involved as well, but that's the biggun

ooh good one! ummm do you think a good realtor can tell you what the selling price would be w/out going rock bottom?

Daniel

:energetic:

[w¡n9Nµ7 §£@¥€r 123]

I've seen listings sit for essentially one reason: price. You price it right, it will sell.

ooh good one! ummm do you think a good realtor can tell you what the selling price would be w/out going rock bottom?

I would hope a good realtor (i.e. one who consistently makes good money) knows how to maximize his/her commissions.

[Fandango 1,440]

last year, anyone could practically post a sign in the yard and the house was pending before sundown

This year (at least in my neck of the woods - central nj) it's been the exact opposite. I don't get the sense that market values have fallen much (5-10%) but homes are definitely not selling as fast as they used to. Heck, a lot of units that got listed this spring haven't sold (and it's Nov already) so the owners are yanking them off the market or deciding to rent them out instead. I think if every unit that was 'on sale' back in April/May had to sell by now, prices would have had to come down more.

That has to do with sellers have unrealistic expectations of the market. Speculators who don't think that the mkt has changed, but got in too late to ride the bandwagon.

I've seen listings sit for essentially one reason: price. You price it right, it will sell. Granted there are other factors involved as well, but that's the biggun

ooh good one! ummm do you think a good realtor can tell you what the selling price would be w/out going rock bottom?

Daniel

:energetic:

A good transaction broker in FL will be able to give a range.....I don't tell people what their house is 'worth' per se as I am not an appraiser....but I do a market analysis and figure crunch of comps in their area and what the pricing is at for the actives/and solds. Some agents will figure the pendings in as well...but they are really not good to use as you only see what the asking price was, and not what the agreed upon sales price is. You don't see that til it's sold. So to use a pending property with an asking price of 400k when the agreed sales price is 379k would give a false result.

It's pretty interesting, and I'm going to stop myself before I ramble on any more than I already have....but pricing a house at rock bottom doesn't do anyone any favors either. You want continued business and you want referrals, and you won't get those if your customers walk away thinking you slit their throats for the 'quick sale'

Edited November 13, 2006 by LisaD

[Mr. Big Dog 10,747]

I can personally say that although it wasn't as easy as last year, I've had a record year...even amongst all the 'bubble has burst' talk

Bubble or no bubble, FL continues to have a net gain of 1,000 residents/day. Folk gotta live some place, don't they?