[BBMW]

I was wondering what was behind this, so I dug it up. In case anyone cares....

Bubble Watch Archives - Trulia TrendsTrulia Trends

Originally Posted by logline

We're still undervalued:

http://www.ritholtz.com/blog/wp-cont...bble-watch.jpg

[Marioni888]

we have seen recently 6 homes in summerlin and their owners refuse to lower their price which is 20-50k overpriced.
Their homes are in bad shape, no upgrades, and 3 of them need new kitchen.
And still they are pricing house 20k more then house next door which sold for 20k less only 2 months ago.

when we asked one owner that listed recently his house for 360k (and same house in his neighbor was sold for 330k recently ) why his price is so high he said "I m not in hurry ,I can wait moths or years to get the price I want".

That's bad, very bad

[Cold Warrior]

Bad? Why?

[airics]

Originally Posted by Marioni888

we have seen recently 6 homes in summerlin and their owners refuse to lower their price which is 20-50k overpriced.
Their homes are in bad shape, no upgrades, and 3 of them need new kitchen.
And still they are pricing house 20k more then house next door which sold for 20k less only 2 months ago.

when we asked one owner that listed recently his house for 360k (and same house in his neighbor was sold for 330k recently ) why his price is so high he said "I m not in hurry ,I can wait moths or years to get the price I want".

That's bad, very bad

Id wait for my price too.... this is a seller's market.

[Raiderman]

Originally Posted by airics

Id wait for my price too.... this is a seller's market.

I, also, don't see anything wrong with that. The market determines pricing. If they're too high, they won't sell. If they are too low, or right on the money, they will sell quickly. No one gets hurt either way.

[lvoc]

Originally Posted by Cold Warrior

Bad? Why?

Well I could certainly do without it. I got a good buyer for a home in a Sun City. He is knowledgeable and willing to spend $550K. (And will then put another $200K into it which it needs. A beautiful house but badly dated. House is listed at 700K and they are holding. We know however they are closing on a new 700K house so things may change as they get into two houses. Then again they may not. Had one wonderful house in Sun City sit on the market for 2 and 1/2 years. Finally sold discounting 890K to 870K.

The pricing battle is always interesting when the well off do the joust.

Really though no real harm is done. If you need to sell then you price realistically. If you don't and have a nice house reach a bit...why not.

I will always tell my buyer what is rational on a house.. But if they knowingly go higher OK if we can do the financing. Really nice houses make it hard though thankfully the Appraisers don't look at a house as does a buyer and they won't appraise. So unless you are well set you can't get too carried away.

[Tek_Freek]

Is that 700k house on a golf course not too far from 215? If so there's another one about to come on the market if it hasn't done so yet.

[lvoc]

Originally Posted by Tek_Freek

Is that 700k house on a golf course not too far from 215? If so there's another one about to come on the market if it hasn't done so yet.

I always fudge the numbers a bit Tek to avoid giving too much into the open. So you can always count on the fact I lie on any numbers I quote but they are truthful as a set.

Drop me a DM and I wil give you the street.

[Tek_Freek]

I just checked and I was wrong. Someone may have changed their mind.

[boatpi]

I just closed on my second executive rental house in Rancho Bonito Estates, Rancho and Okey. This are is super hot area with has basically zero rental houses. Some very nice restored homes too.

This one will get a makeover to Santa Barbara Mission style. Should rent at $3,300 for 3,700 sq. feet on 1/3 acre.

Many folks are seeking safe areas close to downtown with large lots and little traffic compared to Summerlin.