Thursday, January 15, 2009


How long do you think it would take a "super motivated seller" to sell?? A week? Maybe a month? Nope keep guessing, because you're never going get this one.


here's the first line of the listing:
"NOT a repo and NOT a short sale. .. .. .. just a super motivated seller! This Crystal Ridge single story is model-like in every way!"

14305 Crystal View is a nice single story home over in Crystal Ridge Estates in Riverside. The home is 3215 sq/ft and has 3 bedrooms and 3.5 baths. It sits on a hill, on a large lot, although much of that lot is not usable. The house looks nice and the price is getting close to where they may have a chance of snagging a buyer. But this is a perfect example of how NOT to sell a house. It's been on the market for well over a year. In fact I'm sure this was on the market even before that. I'm sure I looked at this house 2 years ago or more. In any case the listing price has always been "just a little too high". It's a classic example of chasing the market down. Actually they didn't have a hope until Sept, when they got the price below $600k. Before that the price was probably $150k to $200k too high. I looked at 2 REO properties listing in the around $500k back when this guy was listed at $800k.

You have to give the realtor some points on the listing. There are great pictures and listing is even well written. She did everything right except the most important. She priced it too high in a declining market. Of course the price is probably the result of a delusional seller much more so than a delusional realtor.

Check out the price movement. At $550k this has a chance of selling now. Not a great chance, especially as stale as this listing is but at least it's not miles higher than the nearby listings any more.

Jan 06, 2009 Price Changed $550,000 -- MRMLS #I07163035
Nov 04, 2008 Price Changed $599,900 -- MRMLS #I07163035
Sep 09, 2008 Price Changed $650,000 -- MRMLS #I07163035
Jun 06, 2008 Off Redfin * -- Inactive SoCalMLS #1
Jun 03, 2008 Price Changed $740,000 -- MRMLS #I07163035
May 30, 2008 Price Changed $699,900 -- MRMLS #I07163035
Apr 12, 2008 Price Changed $789,000 -- MRMLS #I07163035
Mar 07, 2008 Listed * -- Inactive SoCalMLS #1
Feb 09, 2008 Price Changed $849,900 -- MRMLS #I07163035
Nov 26, 2007 Price Changed $899,000 -- MRMLS #I07163035
Nov 09, 2007 Listed $920,000 -- MRMLS #I07163035
Mar 31, 2004 Sold $621,000 376.3%/yr Public Records
Feb 13, 2004 Sold $508,000 -- Public Records


lisaandre said...

Oh geez....I finally made your blog. I'm just thrilled about not being called a "Realtard"! You've pretty much nailed this one on the head. Trust me, the concept of chasing the market down was explained right from the start, and time and time again. The seller's are starting to listen and their motivation and circumstances HAVE changed. I do feel (based on recent activity) that this home is within a range of attracting offers at this point in time. Thanks for the free publicity. I am truly not a delusional agent. A delusional agent wouldn't read your blog on a regular basis, because you my friend do not pump sunshine up anyone's A**! Are you a Bruce Norris fan by the way? He rents space in our office and if you don't know him, you should consider going to one of his seminars. You would LOVE him. Right up your alley. I would have rather stayed out of your radar, but everyone has their turn in the frying pan and at least you were being fair about it.

Lisa Andre - The Realtor

golfer_X said...

Thanks for putting up a decent listing! Although you might want to remove the "motivated" part. I too think at that price there's some hope. Although as you know, over $500k, the number of closings has fallen off a cliff.

I try to be fair with the "realtard" nameplate and only bestow it when called for. I have plenty of respect for people that do a job well. Unfortunately, in the real estate biz these days there are a lot more hacks than professionals. Hopefully this corrections will weed many of them out.

Allison said...

I'm really late on this post, but just wanted to say how awesome it is that Lisa posted here. Way to step up to the plate!

I imagine at least half of the time, the "Realtards" are working for stupid homeowners or banks. Realtors can only do so much in trying to help the owner price a home right.