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Answers (1)
- Le Green Schubert, "Le Green Schubert"
- Contributions:8
I have been curious enough about this question since I first saw it last year, but no ane ever answered. So tonight I tried a little research on old listings to see if I could get and idea.
Only 3 listings on Zoa in 2009 in the fall, only one sold, the other 2 were removed from the market and never sold. The prices were not reduced by much either. Taking into account the age of the homes and economics, my guess would be that the owners could not reduce the price of the homes to a low enough price to sell, and be able to pay off their loan (The people on that street tended to owe more than the houses were worth. So they did not waste their time trying, they hung on for a better time to sell.
7 show up for the same period in 2010. 4 sold out of the 7 during the fall (Aug to Dec) , 3 for asking price. one was withdrawn, and 2 expired, and all 3 may have been relisted soon after.
This makes it look like there were so many houses for sale, because the owners could sell them for enough to pay off the loans on them.
Anyone else interested in real estate forensics and want to research a theory?
Only 3 listings on Zoa in 2009 in the fall, only one sold, the other 2 were removed from the market and never sold. The prices were not reduced by much either. Taking into account the age of the homes and economics, my guess would be that the owners could not reduce the price of the homes to a low enough price to sell, and be able to pay off their loan (The people on that street tended to owe more than the houses were worth. So they did not waste their time trying, they hung on for a better time to sell.
7 show up for the same period in 2010. 4 sold out of the 7 during the fall (Aug to Dec) , 3 for asking price. one was withdrawn, and 2 expired, and all 3 may have been relisted soon after.
This makes it look like there were so many houses for sale, because the owners could sell them for enough to pay off the loans on them.
Anyone else interested in real estate forensics and want to research a theory?
Why so many for sale houses on Zoa Drive at Gann reserve community in Cedar park ?
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