I'm starting to see a lot of the overpriced listings from last summer coming back to the market. Problem is, the prices are still just as unlikely to result in a sale. It looks like the "I'm not going to give it away" crowd are coming back to the market. In the last few weeks I've been watching as more and more of these listings come back. That's probably what's driving housing trackers median listing price to stabilize or even rise slightly while the sales data still shows the prices declining.
Anyone remember this clown? He's asking $930k for his house when nearby REOs are selling in the mid to high $300s. At least he's not asking 1.4 million anymore!
Or how about the fake grass house? Yes, it's back. Another total nutjob asking three times what he should be asking. This genius actually raised his asking price by $50K. Same crappy pictures as last year.
Oh yea, hope springs eternal....
8 comments:
I love how clean the kitchen is in the second listings pics.. wow..
Spring bounce would not make the price bounce. These people should wake up, it is 2009 you all.....
It'll be a bounce if you love crap homes. Shacks are cheap and plenty, but decent neighborhood/school areas for decent prices are hard to come by. All the reasonably priced listings are for houses that have some major $50,000+ issue. And with the issue factored in the house is more overpriced than it's neighbors. Me and my cash are still waiting!
(P.S. - comment removed above because, as I kept thinking about it Thee, I suppose that no matter what condition a house is in or how genuinely "reasonable" the asking price is on a house, it's always possible to find ways to spend an additional $50k plus on it I guess! So rather than argue the point about there being NO reasonably priced houses available now without that kind of baggage, I came back and removed the post that was originally above this one. This follow up about why it's now gone seemed the courteous thing to do. If you really are looking for a genuinely reasonably priced house in this area that doesn't necessarily bring with it the major issues you mention, I'll be happy to suggest one. I do conceed your point though - sometimes it really does come down to an "in the eye of the beholder" kind of thing.)
jsp, I don't know your story, but either you are a shack owner or you are in Egypt. I don't know if you are in De Nile or you love shack!!!! hahaha Yes, "based on all the comps" doesn't mean anything today. Like I'm going to buy your shack for $300,000 because 3 years ago it was worth $500,000, but in 1997 it was bought for $150,000. To top it off...yeah, it's a beautiful home, but half of mexico goes to the local public school making it 85% "Hispanic" (Mexican nationals) and 15% non "hispanic" with testing scores 1/4 of even bottom ranked california's average!!!! Sorry, no thanks! And being the genius I am, I'm going to predict that your house will sell for - wait for it - market value!!! Congratulations....were you expecting something else?
Funny how he says "hundreds of thousands in upgrades". So he spent more on upgrades than the house is worth? Perfect example of over-upgrading. Guess he watched too much HGTV.
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