Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > New Jersey
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 02-27-2009, 11:40 AM
 
Location: NJ
392 posts, read 842,901 times
Reputation: 191

Advertisements

Quote:
Originally Posted by ghuber View Post
A greedy doctor! LOL what a suprise.
Yes, he bought his "new" home in Nov for $300k off the 06 peak # and $200k off last list price.

He has one standard when buying/another when selling.
Reply With Quote Quick reply to this message

 
Old 02-27-2009, 11:44 AM
 
Location: NJ
12,283 posts, read 35,715,087 times
Reputation: 5331
Quote:
Originally Posted by xmonger View Post
Update # 2

Deal is dead. Seller wouldn't come down more than 4 % from list.

I have rejected the counter.

Just to show you how delusional the seller is... the same exact model house (down the street), with more upgrades/better lot (assessed $30k higher) sold in 1/08 for the same amount the seller is sticking to today.

Did I miss some good news over the past year?

Ride it down baby. You and your realtor combined don't break 100 on the IQ scale.
....."won't you be....my neighbor?"

please, please please, do us a favor and follow this house..I'm DYING to know what it eventually sells for.
Reply With Quote Quick reply to this message
 
Old 02-27-2009, 12:44 PM
 
263 posts, read 524,444 times
Reputation: 34
Quote:
Originally Posted by xmonger View Post
Yes, he bought his "new" home in Nov for $300k off the 06 peak # and $200k off last list price.

He has one standard when buying/another when selling.
Hey, your seller might be in denial about the housing market and might never be able to sell, but don't accuse him of trying to make a profit. There is always a double standard in buying/selling.
Reply With Quote Quick reply to this message
 
Old 02-27-2009, 01:10 PM
 
Location: NJ
392 posts, read 842,901 times
Reputation: 191
Quote:
Originally Posted by halfoffpeak View Post
Hey, your seller might be in denial about the housing market and might never be able to sell, but don't accuse him of trying to make a profit. There is always a double standard in buying/selling.
Not sure I follow. How could he be in denial about the current housing market?

He just purchased another house and got a decent discount off peak #'s ($1.050mm VS. $1.350MM in 06, approx -22%). [Thank you NJ Tax Search]

His old house, which I tried to buy, is sitting vacant because he moved and listed it at 2006 levels. He has come down a bit but it is still grossly overpriced. He is waiting for a sucker, and odds aren't great that he will find him in this market.


Bulls make money, bears make money, pigs get...
Reply With Quote Quick reply to this message
 
Old 02-27-2009, 01:29 PM
 
263 posts, read 524,444 times
Reputation: 34
Quote:
Originally Posted by xmonger View Post
Not sure I follow. How could he be in denial about the current housing market?
He obviously believes that there is someone to buy his place close to asking price. If there is no such individual then he is in denial. There are sales close to asking prices so there might be such individuals.

Or he might think that the decrease was temporary and soon the market will recover.

The correction might not be here yet and if not, YOU CANNOT FORCE it. If you think you can find a house with a substantially lowered price than what houses are selling right now, you might be in denial.
Reply With Quote Quick reply to this message
 
Old 02-27-2009, 01:42 PM
 
Location: NJ
392 posts, read 842,901 times
Reputation: 191
Quote:
Originally Posted by halfoffpeak View Post
He obviously believes that there is someone to buy his place close to asking price. If there is no such individual then he is in denial. There are sales close to asking prices so there might be such individuals.

The correction might not be here yet and if not, YOU CANNOT FORCE it. If you think you can find a house with a substantially lowered price than what houses are selling right now, you might be in denial.
Okay, perhaps I am...but you are confused or I hit some nerve. You tell people bid half off which is unrealistic and then you castigate me. (are you a doctor btw?)

He bought a house, in the same town, for 22% off 2006 peak. (several months ago, under much better economic times)
He is refusing to budge from 16% off peak for the home he has listed (as a counter). He's entitled to do that, I am entitled to walk away.

Now go take your meds
Reply With Quote Quick reply to this message
 
Old 02-27-2009, 01:52 PM
 
263 posts, read 524,444 times
Reputation: 34
My advice is to bid half off peak but if this does not work don't accuse sellers of denial because they do not accept your offer. RE Markets correct over longer periods of time during which some sellers get what they ask.
Reply With Quote Quick reply to this message
 
Old 02-27-2009, 02:00 PM
 
1,552 posts, read 4,637,277 times
Reputation: 509
Quote:
Originally Posted by halfoffpeak View Post
My advice is to bid half off peak but if this does not work don't accuse sellers of denial because they do not accept your offer. RE Markets correct over longer periods of time during which some sellers get what they ask.
halfoff - I like your advice to bid half off peak, but really don't understand the rest of your theory.

half off peak isn't "tomorrow's pricing" -- it's today's pricing. this is why today's houses aren't selling, and why we're building up a record level of inventory. (sure, a few suckers here and there are buying homes at yesterday's prices, but it's a trickle, and not enough to make a dent in the massive inventory that's building up ... and this is before all those foreclosures hit the market.)

home values have adjusted, they are by definition today's values, asking prices, apparently, have not. Hence, denial.

If you look at it any other way, then you are in denial, with your advice to bid half off peak. And since I don't think you're in denial, I think your advice is sound, it is the sellers who are by and large in denial.
Reply With Quote Quick reply to this message
 
Old 02-27-2009, 02:02 PM
 
268 posts, read 762,100 times
Reputation: 72
Quote:
Originally Posted by halfoffpeak View Post
My advice is to bid half off peak but if this does not work don't accuse sellers of denial because they do not accept your offer. RE Markets correct over longer periods of time during which some sellers get what they ask.
This is true. A few months back I looked at a house that was built in '98 and sold that year for a little over 300k. The guy who owned it added a bunch of stuff to the house, and kept it in fantastic condition. Well he listed the house at $675k. I was positive there was no way anyone was going to buy the house for that price, but some goofball couple did in November for 645k!

Keep in mind this is not typical for the market right now... luck.
Reply With Quote Quick reply to this message
 
Old 02-27-2009, 02:04 PM
 
1,552 posts, read 4,637,277 times
Reputation: 509
Quote:
Originally Posted by ghuber View Post
This is true. A few months back I looked at a house that was built in '98 and sold that year for a little over 300k. The guy who owned it added a bunch of stuff to the house, and kept it in fantastic condition. Well he listed the house at $675k. I was positive there was no way anyone was going to buy the house for that price, but some goofball couple did in November for 645k!
We can laugh, but we'll be bailing out that goofball with our tax money in 6 months.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:




Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > New Jersey
Similar Threads
View detailed profiles of:

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top