Riverside Market Value Analysis 2010

A Zillow user had asked today for an opinon of where the market is going.   

I did this short analysis of lower Riverside last month, in an attempt to explore the question from the primary data, absent of other influences.

[link removed by moderator]


Best, John Herman

  • September 24 2010 - Greenwich
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Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

 
 

Answers (5)

Profile picture for dacolan
Why not just reply to the original post the question was posed in and include a summary of your findings, rather than starting a new thread with nothing but a link back to your web site?

This smells an awful lot like SPAM to me...
  • September 24 2010
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dacolan...  Tough welcome for the first time I use  "Start a Discussion".   No offense intended.   After I answered the other thread, I thought value trends to be a good topic for new, possibly lively discussion. Regarding summarizing the analysis, the inflation adjusted value chart over the decade is interesting to look at, and possibly is better  discussed here than opinionized by me?  

John Herman
  • September 24 2010
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Profile picture for broker_GRI
John,
You started off good but yes...links to your website are considered spam by Zillow guidelines.


Stick around, answer some questions...trust me on this, there will be plenty of time for "lively debate"

Keep your numbers handy;-)

Tanya
  • September 24 2010
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Ok, Since I got myself into this, and since the moderator removed the on-line link to the excel charts, here is the summary as requested.   If someone wants the link I can send it to them without posting it.

For this short study, I looked at a section of Greenwich (Lower Riverside).   I was trying to test the many market-trend opinons out there, including my own, against the actual data.

I took average sold price per square foot over the last ten years, for the first 7 months of year, in order to take a snapshot of market conditions as of  August 1.   I then adjusted those by removing the high and low sales to stablize the outcomes.   Comparing these year by year, we seem to be at 2003 nominal prices; but measured in 2001 dollars, the underlying current value indication expressed in 2001 dollars is closer to that of 2001.  In this comparison, 2001 dollars are indicative of relative value, and value growth over the decade. Another interesting chart was volume of sales over the decade, which as anticipated showed the spike for 2004, and trough for 2009.    The 2001 return to near average levels may support the view that near-term hardening of prices may be coming.   

The study has a focused context.  I used the quieted portion of Riverside starting south of I-95 at the distance from the highway where noise diminishes away, and south from there.   This was in a minor attempt to enhance consistency of data in an area of substantial variation in home size, and value.

This is not intended as a revelation since this could be inferred from the media reports and opinions, but it is worth something I think to test opinions against primary data once and a while.

John Herman Buyer Agent







 

 

  • September 27 2010
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Correction: The last sentence of the third paragraph should have read...

The "2010" return to near average levels may support the view that near-term hardening of prices may be coming. 

Sorry, I could not seem to edit the typo.   John
  • September 27 2010
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