How soft are the house prices, and where are they going?

[jad79]

Can you post the MLS number for those? Thanks!

[jad79]

I think I have been able to piece together your examples, and I don't see much evidence that Redfin is wrong or that there are many homes over $430k listed since 10/15 that are pending. Do you have examples of other pending homes that don't have contigencies and aren't still showns as active by their listing agent?

3/2/2009 Listed for $1,325,000 -- 3/4/2009 Offer Accepted. (I assume this is MLS 70882141, which is still showing as active, but it may now be under agreement since yuu say it just went under agreement this weekend).

1/4/2009 Listed for $1,199,000 -- 2/11/2009 price change to 1,179,000
2/23/2009 Offer Accepted (I assume this is MLS 70860192, which is still showing as active in MLS, Redfin, ZipRealty and on the listing agents site. It is showing as accepting backups, so this is probably one of the ones with a contingency you mentioned.)

1/16/2009 Listed for$959,000 -- 2/5/2009 Offer Accepted. (I assume this is MLS 70864965, which is also showing as active in MLS, Redfin, ZipRealty and on the listing agents site. It is also showing as accepting backups, so this is probably one of the ones with a contingency you mentioned.)

1/5/2009 Listed for $579,900 -- 1/30/2009 Offer Accepted (I assume this is 1 Chester Street, the example I listed in my original post)

[smarty]

What is the point of the previous few post?

For those $,$$$,$$$ house, can we buy them for foreclosure prices like in CA, AZ or FL? I just want to buy a house assessed at $1M for $250K.... Will I ever get one?

I'm sure houses if priced right will sell fast ... I saw a house listed in Newton for $10M, it is now listed for $7.4M. (285 days later) I looked (always want to know what a $10M house look like from the outside) and will not pay more than $4M for that house. Of course, the owner paid $3.3M + renovation/addition for that house. What does that say about how soft the market is?

I think the discussion should be what is the right price for a house. Would $$$ per sq ft be more appropriate discussion? At this time, I think $280-300/sq ft seems to be the moving number for Winchester. I heard AZ is selling at $95/sq ft.... and still dropping...

Is this data right?
http://www.altosresearch.com/research/MA/WINCHESTER