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Old 07-22-2010, 10:06 PM
 
915 posts, read 1,190,178 times
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I have an automatic search set up on a popular real estate site, with specific criteria. I've noticed recently (past week or 2) there have been very few new houses put up for sale that meet my criteria, relative to the past couple months.

Has anyone else noticed a slow-down of new listings or is it just my search criteria?
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Old 07-22-2010, 10:14 PM
 
Location: Anchored in Phoenix
1,942 posts, read 4,568,637 times
Reputation: 1784
I haven't noticed. I did see a number drop on Zillow in my zip, but then I realized I must have set the filter setting to filter out more houses.

One I'm watching was sold 42 days ago and is now up for sale again at a lower price than the purchase price 42 days ago.
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Old 07-22-2010, 10:51 PM
 
915 posts, read 1,190,178 times
Reputation: 455
Quote:
Originally Posted by Howard Roark View Post
I haven't noticed. I did see a number drop on Zillow in my zip, but then I realized I must have set the filter setting to filter out more houses.

One I'm watching was sold 42 days ago and is now up for sale again at a lower price than the purchase price 42 days ago.

Must be that great new investment strategy I've been hearing about - buy high, sell low.
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Old 07-23-2010, 10:31 AM
 
Location: LEAVING CD
22,974 posts, read 26,999,132 times
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I still see some price drop happening and at least in my area there doesn't seem to be much activity as there was when we started looking 4 months ago. We closed on our house last month and the duplicate to it just across the street just closed last week for $15k less They're already dirt cheap as it is....
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Old 07-24-2010, 09:04 PM
 
Location: Anchored in Phoenix
1,942 posts, read 4,568,637 times
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LOL!

Look at it this way! At least the person who buys high and sells low can say I bought a house worth X (put in your number - $1,000,000? $250,000?), and win admiration. At least that person can remain silent on what it sold for!

Donald trump $30k millionairs make me laugh!

Quote:
Originally Posted by gsm113 View Post
Must be that great new investment strategy I've been hearing about - buy high, sell low.
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Old 07-25-2010, 04:04 PM
 
Location: Rural Michigan
6,343 posts, read 14,678,521 times
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Summer is a terrible time to buy in Phx - too many other buyers competing for houses..
Look in December and you'll have them all to yourself, and you'll get the best prices for the year...
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Old 07-25-2010, 04:46 PM
 
Location: Anchored in Phoenix
1,942 posts, read 4,568,637 times
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Yeah good point.

I noticed today on Zillow that one of the houses I'm waiting to pounce on dropped its price another 4% the other day. It has a "twin" house next door its competing with. Nothing like a nice price war! LOL. The next door house dropped a month and a half ago. Their prices are at the 2001 levels and I think will have to continue to drop to the 1998 level to be reasonably priced, based on this lingering economic crisis.

Quote:
Originally Posted by Zippyman View Post
Summer is a terrible time to buy in Phx - too many other buyers competing for houses..
Look in December and you'll have them all to yourself, and you'll get the best prices for the year...
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Old 07-25-2010, 04:52 PM
 
Location: Rural Michigan
6,343 posts, read 14,678,521 times
Reputation: 10548
Quote:
Originally Posted by Howard Roark View Post
Yeah good point.

I noticed today on Zillow that one of the houses I'm waiting to pounce on dropped its price another 4% the other day. It has a "twin" house next door its competing with. Nothing like a nice price war! LOL. The next door house dropped a month and a half ago. Their prices are at the 2001 levels and I think will have to continue to drop to the 1998 level to be reasonably priced, based on this lingering economic crisis.
Little bro bought a place last summer for less than it sold for new in 1987. significantly less (20%+) - and no, it wasn't a bombed out shell either...

Figuring the value based on a year is a fun & cool exercise, but I wouldn't sign a 30 yr mortgage based on it...
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Old 07-25-2010, 05:02 PM
 
Location: Anchored in Phoenix
1,942 posts, read 4,568,637 times
Reputation: 1784
Oh I agree. And note I was using last sale prices, not estimated prices for 2001. The house sold in 1997 at a far lower price than in 2001. The RE correction in Phoenix still has not done the undershoot of the proper valuation - cannot do it until unemployment goes back to under 4% - with real jobs, not construction jobs.

Quote:
Originally Posted by Zippyman View Post
Little bro bought a place last summer for less than it sold for new in 1987. significantly less (20%+) - and no, it wasn't a bombed out shell either...

Figuring the value based on a year is a fun & cool exercise, but I wouldn't sign a 30 yr mortgage based on it...
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Old 07-25-2010, 05:27 PM
 
2,942 posts, read 6,515,847 times
Reputation: 1214
Quote:
with real jobs, not construction jobs.
Wow, as if construction jobs are not real. Give me a break!
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