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Answers (13)
- Sam Shueh
- Contributions:379
This is summer buying season homes priced right does not stay on the market very long 1 week if that long.
July 11, 2009
Bank Onwed: 9.7%
short sell (seller with approval from lender):15.8%
regular: 74.7% <--------
After people get used this, things are going back to normal.
July 11, 2009
Bank Onwed: 9.7%
short sell (seller with approval from lender):15.8%
regular: 74.7% <--------
After people get used this, things are going back to normal.
- Robert Whitelaw, "RebelBroker"
- Contributions:72
This is a great question. I do regular monthly market analysis videos that I put on YouTube (Find them here). In those, I do a breakdown of the number of properties that sell that are foreclosures, short sales and conventionals.
You would be surprised how much variation there is from community to community on these numbers! For instance, Almaden Valley and Los Gatos have very few short sales or foreclosures. Morgan Hill used to see nearly 80% of their sales being made up of short sales and foreclosures, but in recent months, conventional sales have been making up more and more of the number of homes sold.
I think the short answer (Ok, I guess I am a little late for a short answer) is that yes, there are folks out there selling homes - and getting them sold. For sellers, it is all about being the top property in your price range. It is key for agents and their sellers to be very aware of the competition - because buyers are able to sit back and take their time and compare properties to see where they are getting the most for their money.
Hope that helps,
Robert Whitelaw
Broker/Owner/Realtor
You would be surprised how much variation there is from community to community on these numbers! For instance, Almaden Valley and Los Gatos have very few short sales or foreclosures. Morgan Hill used to see nearly 80% of their sales being made up of short sales and foreclosures, but in recent months, conventional sales have been making up more and more of the number of homes sold.
I think the short answer (Ok, I guess I am a little late for a short answer) is that yes, there are folks out there selling homes - and getting them sold. For sellers, it is all about being the top property in your price range. It is key for agents and their sellers to be very aware of the competition - because buyers are able to sit back and take their time and compare properties to see where they are getting the most for their money.
Hope that helps,
Robert Whitelaw
Broker/Owner/Realtor
- Walters Consulting
- Contributions:1661
there are basicaly two types of buyers out there 1) investors who are only waiting for the distressed or fire sale prices 2) everyone else- who are willing to take what the market is currently offering or they can afford.
- Margaret Oscilia, "creativeconcepts"
- Contributions:43
In the past two weeks, we have staged two homes which sold for very good offers -- these are not high end homes - normal 3-4 bedroom mid range homes. We finished staging another house on Saturday - the Sunday open house had 6 groups come through and another showing on Monday. This was not a foreclosure or bargain. People will continue to want to find a home they love - and won't necessarily be attracted to foreclosures. The media hype is much different than the reality we are experiencing.
- maxxgraphix
- Contributions:26
I'm selling ours. Already have about 6 showings in 3 months and 2 offers not far from what we wanted. Also we just bought another home to move into. I'm tired of the gloom and doom bs from the media. 18% loss is NOT nation wide. Our area is only down .5%. It wasn't overpriced to begin with.
Phoenix market had about 4700 sales in January, over 60% foreclosures and short sales. That means about 2000 regular homeowners actually sold, which is about the lowest monthly number in the past decade.
How come all the other agents just speak anecdotally? Are they afraid of numbers or something?
How come all the other agents just speak anecdotally? Are they afraid of numbers or something?
- Sam Shueh
- Contributions:379
Many homes sold recently are owner occupied and not distressed calls.
In better neighborhood there are few of the poorly maintained foreclosed homes. When you sell yours it got to appeal to buyers thinking they got
a flawless home(floor, cabinets, upgrades, fence, roof). Buyers when they fall in love with a desirable home they are willing to pay going rate.
You can ask your agent to specify serious buyers or qualified buyers to fend off bargain hunters.
In better neighborhood there are few of the poorly maintained foreclosed homes. When you sell yours it got to appeal to buyers thinking they got
a flawless home(floor, cabinets, upgrades, fence, roof). Buyers when they fall in love with a desirable home they are willing to pay going rate.
You can ask your agent to specify serious buyers or qualified buyers to fend off bargain hunters.
- Valorie Stover, "QUALITY REALTOR"
- Contributions:170
Yes, there are sellers that move for a number of reasons. As far as prices in Orange County, CA sellers that have equity in their homes usually get a higher price than the short sales or bank owned. The buyers know short sales take a long time and bank owned sometimes have several offers on them.
A straight sale is so much easier and faster.
A straight sale is so much easier and faster.
- metalchiken
- Contributions:11
Ohh yeah I'm selling... bought mine 10 yrs ago. Modest home great starter at very low price. Now I can sell mine even below these forclosed prices and still be well above water and offer equitty to buyer at closing. Im not greedy.
- Bill McInerney, "Bill McInerney"
- Contributions:17
Pepper02,
Yes, people today are really selling their homes because buyers are really purchasing homes!
Regardless of what media screams the market is not all that bad or negative.
Yes, people today are really selling their homes because buyers are really purchasing homes!
Regardless of what media screams the market is not all that bad or negative.
The answer to your question really depends on your specific market. The Pittsburgh market has many buyers who are looking for properties and prices in many neighborhoods are stready and have increased. There is more inventory on the market so it is taking long for some properties to be "absorbed" but the market is strong!
- Esteban5
- Contributions:128
We're moving up....saved a bundle on the buy, so we expected to take a similar hit (percentage-wise) on the sale.
- Kimberlee Quarles, "Kimberleesellshomes"
- Contributions:174
Yes, regular sellers are selling their homes for a variety of different reasons. Some are retiring and moving out of San Diego area, some are divorce situations, some are due to death, but many are selling their current home in order to cash in on the market and buying a bigger or better home while prices are down and just transfering their equity. Contrary to popular opinion many of the properties on the market are not foreclosures or short sales.
Is anyone out there really "selling" their house? Or are most of homes for sale today foreclosures
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