Tell me about your real estate market for the last 5 years -- (sales)

[515girl]

While looking at homes we noticed quite a number of sellers priced their homes high in 2009 ($350k) and then again in 2011($410). Listing and then removing from the market .

Specific one I'm researching the home was purchased in 2007, new first appraisal being $319K. Third time on the market currently.

What was significant these years to make the house go on the market so high in 2009 and 2011?

[Rustybolt]

Ask a Realtor. Your questions are specific to a single property, but your post is asking about generalities. Too many factors to consider, not the least of which are the motiviations of the seller.

[kevcrawford]

Our market didn't spike during those times. It didn't crash either. Just stagnated a bit.

It seems that you're basing your question on too small a sample size. Best thing, if you're looking at buying, is to get your Realtor to research that specific house and see what they can find out about it. Perhaps they over/under priced it to begin with and adjusted. Maybe they massively updated.

There's not really an answer to your question, as it's kind of unclear what your question is.

For SA overall, we're now in a seller's market (under 6 months inventory) and prices are starting to creep back up. Houses that are priced well don't stay on the market long at all. It's busier than it's been in years.

[515girl]

It seems in SA that you are unable to find the sales price of a home, after it goes under contract or was purchased new......I'm unsure why as this is a matter of public record where I am from. Often the question was asked back home to understand the pricing of what they currently are asking in relation to what they paid for it xyz # of years ago. Figuring appreciation, and improvements on a purchased price home is easier for me to understand I guess. Looking at comps I feel is only part of a picture if all of the homes are inflated in price going towards a seller's market.

kevcrawford I've read a # of your posts on the SA area, I respect your opinion I guess I am focused on this one house and the history behind it in regards to pricing, back then and currently.

[dastexan]

The only way you can really find the true sales price is if something was on MLS and sold through MLS.


You are not required anywhere in Texas to disclose sales price on any private property transaction.

[kevcrawford]

Originally Posted by 515girl

It seems in SA that you are unable to find the sales price of a home, after it goes under contract or was purchased new......I'm unsure why as this is a matter of public record where I am from. Often the question was asked back home to understand the pricing of what they currently are asking in relation to what they paid for it xyz # of years ago. Figuring appreciation, and improvements on a purchased price home is easier for me to understand I guess. Looking at comps I feel is only part of a picture if all of the homes are inflated in price going towards a seller's market.

kevcrawford I've read a # of your posts on the SA area, I respect your opinion I guess I am focused on this one house and the history behind it in regards to pricing, back then and currently.

Texas is a non-disclosure state. Realtors will have access to that info, if the house was sold on MLS. There are just WAY too many variables to determine why a house was priced a certain way then vs now. Personal issues could be at play. Updating, etc. Things that cannot be seen or quantified. And possibly things that can with a little digging.

Home prices really aren't inflating just yet. They will slowly, but it'll take a little while because appraisers have to catch up (not tax assessments, that's different). Homes ARE flying off of the market though. I had a buyer call me to look at one today that didn't last 12 hours on the market. The biggest problem we've got is a lack of good inventory.

[Paka]

Originally Posted by kevcrawford

Our market didn't spike during those times. It didn't crash either. Just stagnated a bit.

It seems that you're basing your question on too small a sample size. Best thing, if you're looking at buying, is to get your Realtor to research that specific house and see what they can find out about it. Perhaps they over/under priced it to begin with and adjusted. Maybe they massively updated.

There's not really an answer to your question, as it's kind of unclear what your question is.

For SA overall, we're now in a seller's market (under 6 months inventory) and prices are starting to creep back up. Houses that are priced well don't stay on the market long at all. It's busier than it's been in years.

TRUST me, he knows of which he speaks....you don't get to be one of the top realtors in the 7th largest city in the nation without knowing your stuff! He has sold property for us, walked in, told us what buyers were looking for and sold it in 3 days....I KNOW how trying it is either buying or selling property and it is important you research and get all the answers you need before you make that type of investment!