Reply With QuoteP = {rate of sell}
The new home communities are offering 50k in incentives to spend however you want.
Buying down the rate, upgrades, and lowering the price.
The preowned market will struggle to compete for sure ...
NE Phoenix huh??? :idea:
P = {rate of sell}
The new home communities are offering 50k in incentives to spend however you want.
Buying down the rate, upgrades, and lowering the price.
The preowned market will struggle to compete for sure ...
I read
"The real estate market will either bring the economy into a recession or out of one".
If you want to sell your house needs to be priced right and turn key so to speak. Buyers have plenty to choose from right now so obviously they would rather walk into a perfect home then something that needs maintenance. Here's a little advice for anyone who's looking to sell. In a "normal" market homes are much more likely to see offers in the first 30 days of the listing. If you price high to start then figure you will drop it if you don't get a bite then you are much less likely to sell at that price then if you had originally listed it as such. If your home sits for 30 days then you decide to drop the price to entice buyers you will then have to drop it below what would of been an aggressive listing price to begin with.
I am currently running 9 new home construction jobs for a subcontractor here in so cal.Some are moving alot faster than others.One of the builders cannot build them fast enough and want to close all 155 homes in 4 months,the job just started production 1 month ago,we have 3 months left to close 125 homes and that is just at one community.I guess they can sell homes like that for 280,000.Not bad for a brand new home,but then again it is in Perris.
The east side is feeling the same crunch. I live a quiet little area on the Chesapeake Bay & the housing market has stalled. We have 8 new houses (a lot of homes for my area) that have been sitting for 6 months.These are 3200+/- sqft homes sitting within 1000 yards of the bay on 2+ acres. These homes are listed at $420-$460 & three of em have "for rent" signs next to the sale signs.
8 months ago, the same stlye houses were selling in 1 day for $550+.
The east side is feeling the same crunch. I live a quiet little area on the Chesapeake Bay & the housing market has stalled. We have 8 new houses (a lot of homes for my area) that have been sitting for 6 months.These are 3200+/- sqft homes sitting within 1000 yards of the bay on 2+ acres. These homes are listed at $420-$460 & three of em have "for rent" signs next to the sale signs.
8 months ago, the same stlye houses were selling in 1 day for $550+.
Those sound awesome! Where do you live???
In my neighborhood there is probably 10 house or more that have been listed for over a year. They have dropped the pricing some, but the only ones I have seen sell have been the ones that did really dramatic price drops, like $70K- $100 K
here in the high desert seems everyday i drive down the road there are more and more houses for sale and i don't see many moving. one of the local real estate places puts up pics of some of the houses for sale, just about everyone has the words "repo" or "reduced" stamped on it. also read in the local paper that apartments are almost to capacity with waiting lists to get into them.
if you want to sell, then price your house to sell. Real estate is a very slippery slope right now with the mortgage market imploding. You need to either sell or ride it out for many years.
If you price your house to sell now, you will regret it in two years. Wait it out
don't give in to the mass panic!!! Be smart about it ... look at history.
I live in Bay Park in San Diego, right accross from Mission Bay. All of the houses I see in my neigborhood are not moving. Most people have them way over price and the majority of them are fixers.
Posting Permissions