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Sleek316
06-08-2006, 11:07 AM
Per Zillow.com an independent real estate value site indicates that zip 83406 has increased in value 15,000 in the last 30 days.
I know theres alot on the market but someone must be getting thier price.
I ask the local professionals if they are see that type of appreciation in the
real world?
Zillow.com

Jyruiz
06-08-2006, 11:09 AM
I noticed my little house went up 10K, I am don't think they are very accurate though.

al cole'holic
06-08-2006, 11:11 AM
no its not..zillow has their heads in their ass, the whole area will be a ghost town shortly when the market is destroyed..then I will come in and buy everything for $.06 on the dollar and declare myself president.

80Dimarco
06-08-2006, 11:16 AM
no its not..zillow has their heads in their ass, the whole area will be a ghost town shortly when the market is destroyed..then I will come in and buy everything for $.06 on the dollar and declare myself president.
LOL Zillow has many heads but only one ass eh? :cool:

cdog
06-08-2006, 11:21 AM
The biggest problem with the "information age" is all the BS information out there. zillow is full of shit. They get lucky now and then. Buyers set the price of homes now and in the near future.

ThongMagnet
06-08-2006, 11:28 AM
here is a typical home i randomly pulled from my zip code in phoenix.
Phoenix will always feed off of the California dreams.
http://www.realtor.com/Prop/1060624852&gate=excite1

TheLurker
06-08-2006, 11:47 AM
I don’t put much stock in the articles that are on MSN.com but here’s what is on their home page today.
Weird timing considering the thread topics that have been on ***boat the last few days
Bubble watch: 10 cities where prices will deflate
From Las Vegas to Edison, N.J., these bubble busters are facing everything from a lack of new building and job loss, to price appreciation that simply can't be maintained.
By Pat Curry, Bankrate.com
10 cities where prices will rise
10 cities that will top out
On Bankrate.com: Buying a home sight unseen
On Bankrate.com: First-time home buyers' guide to taxes
Las Vegas: What goes up must come down. Fortune lists Las Vegas dead last in its list of 100 metro markets for housing appreciation in the next two years, predicting a two-year combined decrease in housing values of nearly 13%. Local Market Monitor reported a 33% increase in appreciation between 2003 and 2004, and then a 14% increase by the third quarter of 2005, evidence that prices have begun to cool.
"Las Vegas is a very interesting market," Winzer says. "A lot of people moved in, but construction has kept up with the pace. For a long time until recently, I didn't consider it an overpriced market. I don't think the price increases will last. There's really not an inability to produce new homes out there if there is a demand for it."
Sacramento, Calif.: We're not quite sure what Sacramento ever did to anyone, but it showed up on just about everyone's list of has-been markets. Winzer's Local Home Value Ratings rates the market as 59% overvalued and Burns Housing Cycle Barometer also lists it as overpriced.
"Sacramento, we think, has topped out," says Gollis of The Concord Group. "There is just so much (housing construction) in the pipeline. It's a steady-as-she goes market and has always had consistent growth, but we think the land market has gotten ahead of itself."
Phoenix: The bigger they are, the harder they fall, and Phoenix is the largest housing market in the country in terms of new construction. It's been running at 65,000 new units per year, with housing appreciation increasing at rates of nearly 30% per year.
"You can't sustain 30% increases a year for very long," Winzer says. "Of all the 100 markets we review, we think if you're an investor in Phoenix, you should sell, because vacancy rates are already pretty high." Gollis says his firm has been studying the market carefully and doesn't like what it sees. "It's had an incredibly unusual amount of growth," he says. "The land market has accelerated dramatically and the lot price as percentage of the home price has gone up significantly. We have some concerns about going long in Phoenix."
Boston: This one is in Winzer's backyard, his firm is based in Wellesley, Mass., so he sees what is happening there every day.
"Until about a year ago, homes would go on sale and be gone in a week," he says. "Now they're sitting on the market for a year." He doesn't see the prices dropping rapidly here -- or in any market, for that matter -- because while real estate prices escalate rapidly, they drop slowly.
"In markets that are well-overpriced, prices don't really fall because people just won't sell," he says. "The adjustment mechanism is skewed by people's emotions getting involved. People will grit their teeth and hang on as long as they can to get the price they want."
They might not be able to hang on for long. Burns ranks Boston fourth on his list of markets likely looking at a bubble; Winzer's analysis indicates the market is 33% overvalued.
Los Angeles: The City of Angels has been described as the poster child for how a lack of new housing near employment centers can hurt an economy. Affordable housing has been an issue in the market for years. It's ranked as one of the least affordable places in the country to live, with housing prices consuming 91% of income, according to statistics from John Burns Real Estate Consulting. The median price of an existing single-family home was $568,000 at the end of 2005, the National Association of Realtors reports. Plus, job growth is virtually flat. Together, it's cause for real estate market consultant Gollis to predict that the prices for California coastal markets are topping out in single-family homes. Fortune predicts a drop-off of nearly 8% in housing prices in the next two years, putting it in 95th out of 100 markets for growth.
Naples, Fla.: At 72%, Naples is No. 2 on Local Market Monitor's list of overvalued markets in the country (Santa Barbara-Santa Maria, Calif., is No. 1 at 86% overvalued). In actual pricing, it outpaces other Florida markets by a good $100,000 margin. Plus, there is an abundance of more affordably priced options for buyers within a short driving distance. It is no understatement that entire cities are being built nearby. "The markets that are the most overvalued are the ones at greatest risk of a substantial correction," Winzer says. "Naples is at the top of that."
Miami/Fort Lauderdale, Fla.: Rapid, dramatic price increases over the past two years -- and an extraordinary amount of new products being built in the condo market -- is the reason many real estate market analysts think this market just can't sustain much more in terms of price increases. The market probably won't decline, they say, because the region remains attractive to South American and European buyers, but there just isn't sufficient demand to absorb the entire available inventory. Plus, according to NAR research, affordability is an issue in the market, calling the home price-to-income ratio "unfavorable."
Edison and Newark, N.J.: As far as the real estate analysts are concerned, these two cities have pretty big targets on them for a decline in appreciation. John Burns Real Estate Consulting ranks Edison seventh -- ahead of Los Angeles, Miami and Washington, D.C. -- as a market facing a potential housing bubble. It gives Newark an F on its local market grading scale, attributable largely to the loss of several thousand jobs and the highest housing-cost-to-income percentage in the state's metro markets. Fortune predicts a very modest 1.2% gain in housing appreciation this year for Edison that would be wiped out in 2007 by a loss of 2.9%. The situation is similar in Newark, where Fortune suggests a 1.5% increase this year will be canceled out by a 1.8% loss the following year.
Nassau/Suffolk, N.Y.: Otherwise known as Long Island, this market is No. 2 in the country on real estate consultant John Burns' list of locations facing a potential housing bubble. (Modesto, Calif., has the top spot.) Similarly, Fortune predicts a loss of about 6% in housing values over the next two years.

Throttle
06-08-2006, 11:49 AM
it would be nice to think that this is true, however I will believe it when I see it.
values will go down as soon as I move in.

TheLurker
06-08-2006, 11:59 AM
it would be nice to think that this is true, however I will believe it when I see it.
values will go down as soon as I move in.
And that would be due to just plain bad timing on your part or..... :D
I get what your saying, every time I buy a stock I tell my wife don’t worry, They always go down after I buy them and they will go up higher after I sell it

shueman
06-08-2006, 12:15 PM
The biggest problem with the "information age" is all the BS information out there. zillow is full of shit. They get lucky now and then. Buyers set the price of homes now and in the near future.
Agreed....comps based solely on $$/sq ft from closed transactions are no real appraisal of value; a starting point, maybe.
Lots of other factors are at play in the value of a property, including the buyer's needs.

uvindex
06-08-2006, 12:20 PM
Per Zillow.com an independent real estate value site indicates that zip 83406 has increased in value 15,000 in the last 30 days. I think you meant 86403. :)

phebus
06-08-2006, 12:26 PM
I just bought a new home in Havasu, and probably overpaid, thus skewing the whole average :rollside:

Throttle
06-08-2006, 12:41 PM
Hopefully the prices in Havi go down, less money I have to buy out my wife if the divorce goes thru.
if the divorce goes thru?

Racer277
06-08-2006, 12:53 PM
no its not..zillow has their heads in their ass, the whole area will be a ghost town shortly when the market is destroyed..then I will come in and buy everything for $.06 on the dollar and declare myself president.
LOL :D :D :D

RiverRatMike
06-08-2006, 12:56 PM
83406 where is that zip code. That's not Havasu

2Driver
06-08-2006, 01:01 PM
83406 where is that zip code. That's not Havasu
Came from wwwdislexia.moc :rollside:

Kilrtoy
06-08-2006, 01:26 PM
So the price in Idaho Falls, ID went up 15K, good for them,
I dont see havasu going up, i see the opposite

RiverRatMike
06-08-2006, 01:29 PM
Came from wwwdislexia.moc :rollside:
LMAO! :rollside:

Not So Fast
06-08-2006, 01:49 PM
So the price in Idaho Falls, ID went up 15K, good for them,
I dont see havasu going up, i see the opposite
Ditto!!!!!!! NSF

Steve-O
06-08-2006, 01:52 PM
Thanks for the correction on the right zip. I thought Sleek 316 was refering to Havasu.
It is still interesting to see comps that verify the market going in a certain direction.
Every home has its pro's & con's the market will determine.
I'd much rather be an owner seeing an upward trend than the opposite

FREIND OF AA AND TA
06-08-2006, 01:52 PM
We have been separated for 8 months and she can't figure out what she wants to do yet. So I live in our 4 bedroom house in Y.L. with my 2 dogs and go to Havi by myself.
Lucky!!!!!

Big Warlock
06-08-2006, 02:01 PM
I don't see Havi going up. I see it going down. And making it hard on boaters isn't going to help.
Market is soft in Phoenix, but far from over. We are at 2004 levels, which was a record year for us. Prices do need to adjust. We had a 40 percent increase in value last year which was out of line.
However, in comparison to Ca., we have no problem. We are still attractive to retirement groups. And still in reason with Ca. and Vegas.
So no worries on my part. Inflation is the big thing to be concerned about. Someone better start building refineries or you will see our economy take a shiat! Regardless of what else happens.
Inflation (read energy costs) are driving up inflation which will drive up interest rates which will slow down the economy. Think what you want, but you better start voting with those that believe in cheaper fuel prices and less regulation.

Hallett19
06-08-2006, 02:13 PM
Yeah, I have done real market analysis' on homes and zillow is off 80% of the time, and WAYYYYY OFFFF the other 20% :)

BoatPI
06-08-2006, 02:21 PM
If you are seeking the rise is values that CA experienced about 24 months ago, go to Calgary and Canmore, Alberta, Canama. I am at me new place now in Canmore. Calgary is going wild, 42% increase over the past 12 months, and the news just anounced a 4.7% increase in housing for the last MONTH!! Canmore 4 plexes are increasing about 100K every 5-6 months. Canmore is in the rockies, 1 hour from Calgary, along the Bow River in a valley near Banff and lake louise. ANY American can own property here. It is alos a hot seasonal rental market.

Outnumbered
06-08-2006, 02:49 PM
I don't see Havi going up. I see it going down. And making it hard on boaters isn't going to help.
Market is soft in Phoenix, but far from over. We are at 2004 levels, which was a record year for us. Prices do need to adjust. We had a 40 percent increase in value last year which was out of line.
However, in comparison to Ca., we have no problem. We are still attractive to retirement groups. And still in reason with Ca. and Vegas.
So no worries on my part. Inflation is the big thing to be concerned about. Someone better start building refineries or you will see our economy take a shiat! Regardless of what else happens.
Inflation (read energy costs) are driving up inflation which will drive up interest rates which will slow down the economy. Think what you want, but you better start voting with those that believe in cheaper fuel prices and less regulation.
Sorry, but there is no way we are at 2004 value levels. Maybe mid 2005, but no way 2004. Check your data. Also, some neighborhoods are doing much better than others. The new areas with lots of new home inventory are getting killed (Buckeye etc.) Scottsdale is doing pretty well in the mid-range values on the other hand.

ChumpChange
06-08-2006, 02:57 PM
Sorry, but there is no way we are at 2004 value levels.
He doesn't say value levels. I think he is stating sales levels. How many houses have been sold. You get a kick out of trying to be the first person to say somebody may be wrong?? I know I do and I just pointed out that you were wrong.

Outnumbered
06-08-2006, 03:07 PM
He doesn't say value levels. I think he is stating sales levels. How many houses have been sold. You get a kick out of trying to be the first person to say somebody may be wrong?? I know I do and I just pointed out that you were wrong.
No kick, just like the facts to be accurate when it comes to home values since its what I do for a living ;) I guess its not clear what he meant. Maybe he can come back and clear it up for us.
How am I wrong??? Unless you were right about what he meant but even you are not sure :p I guess he did not make himself 100% clear. Oh well, guess I am guilty of a misunderstanding :rolleyes:

ratso
06-08-2006, 03:11 PM
We have been separated for 8 months and she can't figure out what she wants to do yet. So I live in our 4 bedroom house in Y.L. with my 2 dogs and go to Havi by myself.
I'm not touching this one... :idea: :notam:

Steve-O
06-08-2006, 03:42 PM
How can Zillow be so wrong they provide comps based on sales. They also quote 5 and 10 year trends.
I hope our property values are rising.

TCHB
06-08-2006, 03:47 PM
The California people like me are driving the price in Havasu. It is a bargain compared to Huntington Beach.

Outnumbered
06-08-2006, 03:51 PM
How can Zillow be so wrong they provide comps based on sales. They also quote 5 and 10 year trends.
I hope our property values are rising.
Because they don't have any idea what the condition, view, design, or quality of the property is, just data. Its close but can be skewed by a few unusual sales like some big $$ homes or a few foreclosures, fixers, etc.
If Zillow was 100% accurate appraisers would be out of a job. What looks good on paper isn't always good IN PERSON ;)

Racer277
06-08-2006, 04:32 PM
If Zillow was 100% accurate appraisers would be out of a job. What looks good on paper isn't always good IN PERSON ;)
From what I understand, that is exactly Zillow's purpose.
To make a "standard" form of appraisal, and to put a lot of appraisers out of business.
I could be wrong, but I believe the guy that started Zillow had originally started Expedia. If so, he put a lot of travel agents out of biz.

Outnumbered
06-08-2006, 04:52 PM
From what I understand, that is exactly Zillow's purpose.
To make a "standard" form of appraisal, and to put a lot of appraisers out of business.
I could be wrong, but I believe the guy that started Zillow had originally started Expedia. If so, he put a lot of travel agents out of biz.
There has been talk of this happening in the industry for about 10 years and I think it will come true some day. It won't be Zillow but a proprietary program developed by the banks using data input from actual appraisals that are being electronically fed into the system as we type. They will build-into the system and loan programs a margin of error they are comfortable with and then self-insure for any gross errors that result from the Zillow-type program. Its just a matter of time before this happens. We, the appraisers, are building our own coffin by submitting this data now electronically and there is nothing we can do about it. Its no secret, its a big issue in our business. Hopefully I will be retired by the time it happens :)

Sleek316
06-09-2006, 07:37 AM
Is the concensus property values in Havasu are increasing, static or declining?

INSman
06-09-2006, 07:42 AM
Is the concensus property values in Havasu are increasing, static or declining?
In general they are increasing, but there is a ton of inventory on the maket right now and all the nice stuff with views, that are newer and have the big garages and flat driveways are selling fairly well and holding price, most of the other older or less desirable homes in some way are sitting and prices are dropping for those that HAVE to sell.

2Driver
06-09-2006, 08:57 AM
If second home buyers and visitors slow, Havasu is large enough to stay afloat because it has it's own economy. So, unless people stop using meth the Havi economy should be able to sustain any vacation visitor downturn. :D :D