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Old 01-14-2007, 12:16 PM
 
57 posts, read 268,772 times
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Hey everyone! My house has been on the market since October, and no one is even coming by to see it. We live in Shadow Hills just outside Burbank, and our home is beautiful. Anyone else see the effects of the real estate market in L.A. going down the toilet????
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Old 01-14-2007, 01:47 PM
 
331 posts, read 1,908,739 times
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Been a steady decline now for about 9 months there... becoming a buyers market again...
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Old 01-14-2007, 03:14 PM
 
980 posts, read 2,619,197 times
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Speaking as someone who once had their house on the market for a year in Texas, having it on from October to January really isn't a big deal. If it sells within six months, you are in a pretty normal market -- just not the craziness of the past few years.
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Old 01-14-2007, 10:02 PM
 
32 posts, read 133,689 times
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Rule of thumb is 10+ months on the market = potential bubble.
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Old 01-14-2007, 10:53 PM
 
Location: Beautiful California
253 posts, read 1,016,202 times
Reputation: 183
Quote:
Originally Posted by Nbrakern View Post
Hey everyone! My house has been on the market since October, and no one is even coming by to see it. We live in Shadow Hills just outside Burbank, and our home is beautiful. Anyone else see the effects of the real estate market in L.A. going down the toilet????
Hello!

Suggest you may want to visit www.thehousingbubbleblog.com

You are not alone - many sellers are having to change their expectations in order to get a sale. Its a different market than 2 years ago.

~Cali-girl
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Old 01-15-2007, 06:13 PM
 
150 posts, read 741,482 times
Reputation: 70
Hang in there, kiddo. The 'spring market' is just around the corner and people start to get serious. Re-check your selling price, since you don't want to find yourself lowering the price after that market is gone. People always want to move to CA so eventually you'll sell. It's a very uncertain, trying time and not without stress. We went through it last summer and I hope not to do it again for a long time. Good luck to you!
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Old 01-16-2007, 10:13 AM
 
31 posts, read 145,088 times
Reputation: 27
It's reassuring to know that other people selling their house are in the same boat,and your positive comments,exnyc,are appreciated. We too put our house up for sale in October and for a while it seems like we "missed the boat". We live in the inland empire and while people are continuously looking to move out here from the inner cities, nothing was happening at all. Understandably, there was a combination of factors aside from the slowdown of the housing market ie..the holidays, we had fires around here,and now the stinking COLD. In the last week though, we've had some lookie loos,so maybe it's a sign that things will progress.I'll keep my fingers crossed for you,Nbrakern,while keeping them crossed for us as well. Good Luck!
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Old 01-16-2007, 10:22 AM
 
Location: Sacramento, CA
788 posts, read 3,771,420 times
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There is definitely a slump all over CA, but many homeowners aren't willing to accept this yet, so they are trying to sell their home for what they could have sold it for 2 years ago (which isn't working). Also, late spring and summer are the best selling months, so re-evaluate your sale price, and remain hopeful that it will sell in the summer. You might want to consider taking it off the market for awhile and then putting it back on in the spring or summer. May 1st would be perfect. I am a former realtor (still licensed, but not practicing)--a lot of realtors won't show homes to their buyers if the house has been on the market for a long time; they think it is an indication that there is something undesirable about the house. However, many of the listing realtors won't tell their sellers this because they are afraid they will lose the business if you take it off the market temporarily. Something to consider...
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Old 01-18-2007, 09:04 PM
 
14 posts, read 53,206 times
Reputation: 10
Maybe consider lowering the price a little! I have been looking lately at purchasing a home, and the prices are so high! I think some sellers still think they can get 2005 prices. The market has changed, and the prices are going down. Sellers need to reconsider the price, or like the above person said, consider removing it from the market for a few months. Good-Luck!
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Old 01-18-2007, 10:15 PM
 
156 posts, read 665,755 times
Reputation: 78
I agree with azmom05, usually when a home has been on the market for a really long time, it means the price it too high.
People will only spend what it's worth to them, not what you think you should get for it.
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