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Old 04-26-2013, 01:46 PM
 
2,685 posts, read 6,046,156 times
Reputation: 952

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I agree. The monthly or quarterly blurb articles you see in mainstream papers grab one number that rarely tell the story but gets people fired up.

Quote:
Originally Posted by FromGA View Post
The stat was about new homes only (that the median was same, but average was lower). And I can see how that can happen.

However, when one writes an article to disseminate this info, they can tell us either:
(a) median prices for new homes were same, or
(b) average prices for new homes declined, or
(c) Simply provide in bland terms what the mean/median/mode of the data was for several months, and let the reader interpret

Of course no body wants to do (c) - neither media not reader - so one just needs to use their common sense and make decisions as it fits their current needs. In my Asian-Indian language there is an old saying: What you see with your eyes is false, what you hear with your ears is false, better to investigate fully!
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Old 04-26-2013, 06:57 PM
 
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The inventory is pretty limited and bad. I'm curious about what buyers are doing in response. Is it best to wait this out or to change locations?
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Old 04-26-2013, 09:55 PM
 
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Quote:
Originally Posted by Marsha33 View Post
The inventory is pretty limited and bad. I'm curious about what buyers are doing in response. Is it best to wait this out or to change locations?
We will probably buy in the next 6 months. There may be half a dozen houses intown that we might consider putting a bid on if/when our house was sold. But, it is just as likely that we just spend half as much in the suburbs somewhere. I can't see Decatur getting any better for buyers. Maybe there is inventory building up in other intown areas, people holding on because they expect higher prices right around the corner.
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Old 05-04-2013, 02:50 AM
 
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Upthread, there was some discussion (and concern) about investors driving the recent uptick in home sales. This piece, part of which cites a study of Atlanta, claims that homebuyers are definitely dominating recent sales:

Homebuyers Drive US Market

Quote:
Investors may have kick-started the housing recovery, buyers are truly driving the market, research shows.
Recent reports point to strength in the non-distressed or conventional sales market, which is dominated by current homeowners and first-time home buyers.
According to the Campbell/Inside Mortgage Finance Survey released last week, investors accounted for just 21.8% of home sales in March. Investors accounted for only 13% of sales of non-distressed properties, the largest segment of the market. Current homeowners had a 50% market share and first-time homebuyers a 37% share of the non-distressed housing market. . . .
Former Morgan Stanley analyst Oliver Chang, who now runs his own single family rental business Sylvan Road Capital, studied the Atlanta housing market and was surprised to find that homebuyers and not investors are driving the recovery in both sales and prices.
For all the stories about how investors are crowding out home buyers, "owner-occupied buyers are paying the highest prices for non-distressed properties by a wide margin, over the highest investor prices even after taking renovation costs into account," Chang's study revealed. The analysis adjusted for the mix of homes.
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Old 05-04-2013, 07:57 AM
 
2,685 posts, read 6,046,156 times
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Makes sense. Investors aren't going to pay as much for the same house as a retail buyer who plans to live in the house.

Quote:
Originally Posted by K-SawDude View Post
Upthread, there was some discussion (and concern) about investors driving the recent uptick in home sales. This piece, part of which cites a study of Atlanta, claims that homebuyers are definitely dominating recent sales:

Homebuyers Drive US Market
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Old 05-04-2013, 08:41 AM
 
125 posts, read 232,897 times
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So homebuyers are overpaying?! I've decided to wait this out if needed.
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Old 05-04-2013, 08:46 AM
 
2,685 posts, read 6,046,156 times
Reputation: 952
That wasn't my point, but maybe you could argue that based on inventory numbers. My point was that retail buyers always pay more than seasoned investors who look to buy at 80% or less of value. They are looking for something very different than you and me are when we are looking for a place to call home.

Just thinking here, they say inventory is at a healthy more neutral level at 6-8 months, it may just be that we are coming from an extreme where there was so much inventory and now it looks to be back more where it should be. And of course every time at this point in the cycle more buyers come out because of all the pent up demand as buyers delayed buying for several years.

I would think buyers were more underpaying before then overpaying now.

Quote:
Originally Posted by Marsha33 View Post
So homebuyers are overpaying?! I've decided to wait this out if needed.
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