[NEW HAVENS BEST MIKE WINT]

Hey guys my question is a pretty general one i see very beautiful homes in new haven ct for sell all the time yet, the market barely budges whats your take?

[Csiko]

Originally Posted by NEW HAVENS BEST MIKE WINT

Hey guys my question is a pretty general one i see very beautiful homes in new haven ct for sell all the time yet, the market barely budges whats your take?

Well, uh, been to New Haven lately?

House might be beautiful, but a block over might be too dangerous to go outside after dark. Who'd take the risk?

[NEW HAVENS BEST MIKE WINT]

Originally Posted by csiko

well, uh, been to new haven lately?

House might be beautiful, but a block over might be too dangerous to go outside after dark. Who'd take the risk?

well true but thats every major city. Westville and east rock have a ridiculously low crime-rate.

[Stylo]

I'm not sure what the question is.

Would I sell my home if I had one in New Haven?

Or are homes priced too high in New Haven (the only reason that markets don't move, period)?

[NEW HAVENS BEST MIKE WINT]

Originally Posted by stylo

i'm not sure what the question is.

Would i sell my home if i had one in new haven?

Or are homes priced too high in new haven (the only reason that markets don't move, period)?

the question is would you sell your home in new haven, the second line was more of a statement

[kidyankee764]

Your answer: because people with money who have kids don't want to move to New Haven. /thread

[Stylo]

Originally Posted by kidyankee764

Your answer: because people with money who have kids don't want to move to New Haven. /thread

That explains lower property values, but homes sitting on the market would be indicative of unrealistic sellers. It happens in more expensive areas too.

[kidyankee764]

Originally Posted by Stylo

That explains lower property values, but homes sitting on the market would be indicative of unrealistic sellers. It happens in more expensive areas too.

Depends on the type of home. The OP said the homes were beautiful. High end homes in struggling communities tend to have a difficult time selling for obvious reasons.

[NewJeffCT]

Originally Posted by Stylo

That explains lower property values, but homes sitting on the market would be indicative of unrealistic sellers. It happens in more expensive areas too.

agreed - most of the time a home is on the market for too long, it means it's overpriced.

When we almost moved to Madison a little over 2 years ago, we saw a beautiful home in a great area of town. the home had been on the market for almost a year and the comps indicated it was overpriced by 10% or so. So, we put in a bid based on that (90% of list price), and we couldn't come to an agreement, so we moved on to look at other towns.

Cut to 21 months later - the same home was still on the market and kept getting reduced. Finally, this past July, with the home on the market for three years, they had an accepted offer and it closed at around $15,000 less than what we had offered for it two years earlier. The sellers could have taken our money two years earlier and earned two years of stock market appreciation on a pretty nice pile of cash.

(The sellers had bought the home 15 years earlier and had almost paid off the home as well - so, it wasn't like they were hoping to avoid a loss or a short sale or something like that.)