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Old 06-24-2007, 12:55 PM
 
Location: Thousand Oaks, California
10,408 posts, read 2,588,798 times
Reputation: 1493

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There is a house down the street from me (in Thousand Oaks) that sold in 2 days. It sold before any of us were able to go check it out. From the outside it looked like it had been well taken care of, but no major remodels. It was listed pretty high for the area, but not as high as during the 'peak' time. Inside might have been gorgeous, who knows. We were all shocked it sold so fast. I guess it only takes ONE buyer willing to pay the price...

Generally, the market has slowed in this area, but homes are selling.
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Old 06-24-2007, 03:11 PM
 
62 posts, read 290,506 times
Reputation: 76
Quote:
Originally Posted by Sassberto View Post
Guys, I hate to be a broken record, but the topic is about how quickly / easily a house sells in California. Not real estate fraud, not the existence of a housing bubble. This particular topic seems to repeatedly be a problem around here.
The housing bubble is intricately tied into to how long a home will be on the market.
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Old 06-24-2007, 03:24 PM
 
1,868 posts, read 5,666,947 times
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Quote:
Originally Posted by Sal Monella View Post
The housing bubble is intricately tied into to how long a home will be on the market.
You know, I think you have a point!!
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Old 06-27-2007, 08:12 PM
 
126 posts, read 577,210 times
Reputation: 67
Quote:
Originally Posted by Axiom View Post
As for price points: I think higher priced homes always take longer to sell; if for no other reason, because you've got a smaller buyer pool. I think that's especially true now. If folks can't sell their house... they can't move up. Also lenders are requiring people to actually qualify for what they want to buy now (novel concept - huh)
This is very true. Where I am (Mendocino County), the higher priced places are still selling - they are just sitting on the market for much longer. Some are getting asking price, it may just take 8 months.

Our place is priced over a million (it's our home and business on 21 acres and we are NOT being greedy on what we're asking.) We are still having showings - but the lenders have really tightened their requirements and the folks who love it and want to buy it just aren't qualifying for financing.

Anyone want to buy a lovely property that is currently a B&B but would make a great family compound or retreat property?
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Old 06-27-2007, 08:35 PM
 
3,035 posts, read 14,388,990 times
Reputation: 914
There is a new section in the San Diego MLS now just for foreclosures.

The market is adjusting in San Diego and will need 5-7 years to absorb alot of the appreciation that market has seen. However, I remain bullish on San Diego long term as the employment picture there is both stronger and more diverse than it has been in years. Hold out till 09 and buy when everyone is saying 'never buy in San Diego'.....this cycle has already repeated itself 2x, I'm banking on a third.

By the way, you can sell in less than a week, but you better make sure your house shows very well. You also have to price it right. Forget what nieghbors have gotten in the past, the boom days are behind us....be realistic.. Also, in the boom days, a great kitchen would fetch more, nowadays, it simply means you sell sooner. Be smart and you can sell fast, grasp onto 2004 thinking, and your home will stagnate on the market with all the other stale inventory.
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Old 06-28-2007, 10:39 AM
 
Location: Sunny SoCal
519 posts, read 3,906,161 times
Reputation: 495
Quote:
Originally Posted by Axiom View Post
As for price points: I think higher priced homes always take longer to sell; if for no other reason, because you've got a smaller buyer pool.

Would anyone here say that the better bargains are in these higher priced homes? Higher priced being... $700K and up?

I say that because if the buyer pool is smaller, then obviously only a select few will be able to afford it. But lets say you can afford it this home.
Can't you throw a low ball offer on a house knowing they seller is looking at a small buyer pool? And most likely the seller is being forced to sell so they'll take *almost* any offer given?
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Old 06-28-2007, 11:47 AM
 
Location: In a house
21,956 posts, read 24,198,514 times
Reputation: 15030
Maybe in a few cases but as a rule that isn't going to happen. People seem to be pretty set on their prices....but that soon may change!!
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Old 06-28-2007, 11:53 AM
 
9,520 posts, read 30,344,392 times
Reputation: 6419
Quote:
Originally Posted by Jedi5 View Post
Would anyone here say that the better bargains are in these higher priced homes? Higher priced being... $700K and up?

I say that because if the buyer pool is smaller, then obviously only a select few will be able to afford it. But lets say you can afford it this home.
Can't you throw a low ball offer on a house knowing they seller is looking at a small buyer pool? And most likely the seller is being forced to sell so they'll take *almost* any offer given?
At least in San Diego there doesn't seem to be any real "deals" outside of new property and condos. When you buy from the builder they can work with you a lot more than an individual homeowner can. Most people seem to be just leaving the property on the market for months rather than lower the price. I'm guessing a lot of them are just "fishing".
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Old 06-28-2007, 12:35 PM
 
Location: Los Angeles County
5 posts, read 11,242 times
Reputation: 10
The houses near us are not selling because the new home market is so incredibly strong! Buyers are seeing 0 down payment and great financing thru the builders lenders that single sellers can't match.
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Old 06-28-2007, 06:52 PM
 
376 posts, read 1,500,763 times
Reputation: 164
All real estate is local and that truly comes down to the area. Average days on the market really vary. But I will say on good deals we are starting to see multiple offers on homes. There are homes that have been on the market fo r longer and that can mean many things, i.e. the seller doesn't want to come down in price and is in no hurry to sell. The home is overpriced, the home has too much competition in terms of amentities, etc.
It really depends on the house you want. I just sold a house in 7 days priced well but it wasn't overpriced and not a huge deal either. Hook up with an agent and they can tell you the average days on the market, vs sold comps and the data will help you make the right decision to use in negotations.
Best of luck
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