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Very interesting that they say distressed homes made up for more than 50% of the homes sold! That has to hurt the bottom line for seller's who's homes are not at that bargain basement price, that is, if the article is accurate.
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
6,957 posts, read 22,311,234 times
Reputation: 6471
If you read the article carefully you will notice that the data is from ONE MONTH. Then it goes on to talk about some sort of trend that one is supposed to be seeing.
"On the other hand, those who don't have to sell are often hanging on to 2006 prices. And they are hanging on to their homes.
Prices aren't dropping. And homes aren't selling."
"Prices haven't come down much. In some premium neighborhoods they have may even be rising."
Oh really? What planet is that on?
"Brett has spent his life rifling through department store bargain bins in London, Boston and New York, and that's pretty much the same way he views markets."
I started to say similar things a few times, and then just asked myself "oh, why bother?" LOL! And I erased my post(s).
More often than not, I just read these threads and move along. People find articles/stats/information to fit what they want/need the market to be and there is so much conflicting information out there it will make your head explode.
But thanks for articulating what I was thinking. It saved me the trouble but I wanted to at least say I agree!
Location: Halfway between Number 4 Privet Drive and Forks, WA
1,516 posts, read 4,590,742 times
Reputation: 677
Quote:
Originally Posted by DMenscha
If you read the article carefully you will notice that the data is from ONE MONTH. Then it goes on to talk about some sort of trend that one is supposed to be seeing.
"On the other hand, those who don't have to sell are often hanging on to 2006 prices. And they are hanging on to their homes.
Prices aren't dropping. And homes aren't selling."
"Prices haven't come down much. In some premium neighborhoods they have may even be rising."
Oh really? What planet is that on?
"Brett has spent his life rifling through department store bargain bins in London, Boston and New York, and that's pretty much the same way he views markets."
Very interesting that they say distressed homes made up for more than 50% of the homes sold! That has to hurt the bottom line for seller's who's homes are not at that bargain basement price, that is, if the article is accurate.
Interesting... :O)
The humerous thing is that they twist it to exclaim that home sales are up!
Location: Halfway between Number 4 Privet Drive and Forks, WA
1,516 posts, read 4,590,742 times
Reputation: 677
Quote:
Originally Posted by jsimon521
Very interesting that they say distressed homes made up for more than 50% of the homes sold! That has to hurt the bottom line for seller's who's homes are not at that bargain basement price, that is, if the article is accurate.
Interesting... :O)
Hmm...I'll have to let my non-distressed neighbor know that whose house went under contract in under 30 days. Bargain basement? Nah...Priced right? I'd say so...
He's not saying to "negotiate" with a "seller" who lists at a 2006 price, he's saying, show up to a foreclosure auction and bid 20% below the comps.
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