Reply With Quotequit braggin dude...
Just checking out the MLS listings for Anaheim Hills, to see what my house is going for. I got 3200 + - Sq. Ft. 11,000 lot.
WOW! the range for comparable houses in the listings was a high of 1,350,000 to a low of 599,000, comparable Sq. Ft. comparable lot, and the 599,000 was still on the market looking for offers! And I hear the worst is yet to come!
I'm sure there were small differences but not 800,000 worth. What values and when is the market going to stabalize? Comparable houses used to be within 50,000 of each other.
quit braggin dude...
The ones for $599k are sinking into the ground
When I started in RE in Anaheim Hills in 2000 3 bed homes were priced from 300-350k and 4 bed homes were 325-400k. I'd say about a 25k spread for an extra bedroom and maybe a 3 car garage. In 2006 there was a 125k minimum spread from a 3-4 bedroom home.
The ones that have the lowest prices are the ones that either NEED to sell or REALLY WANT TO SELL!! The others are not really wanting to sell or owe for what they are asking.
Just looked at Moreno Valley. many 5000 + - in the very low 4's !!!
Corona, many 4-5000 in the mid 5's
Most of these homes are only a year or two old.
I see a lot of homes still listed at the inflated value of a year or two ago. Are these people not aware of their competition?
If someone is looking to buy the rates have really fallen. As of yesterday, and I expect today to be lower, Downey was 5.375 @ 1.75 pt, and 5.80 at '0' points for 30 year comforming.
Just looked at Moreno Valley. many 5000 + - in the very low 4's !!!
Corona, many 4-5000 in the mid 5's
Most of these homes are only a year or two old.
I see a lot of homes still listed at the inflated value of a year or two ago. Are these people not aware of their competition?
No, their holding on to breaking even until the bank takes the home back. I turned away 4 listing this year in AH, YL and Corona because of unrealistic sellers.
Example: I have a friend in Serrano Heights whose neighbor paid 900k last year for a plan 2. Now you can buy that same plan in the tract for $650-675.
His other neighbor just listed for $865 for a plan 3. But it's got 200 more sqft. and travertine! Ha! Good Luck with that! The next phase with a larger home is listed for $700k with a 3 car garage. The lender is also offering a 3 year buy down on the payment. Nobodys biting.
No, their holding on to breaking even until the bank takes the home back. I turned away 4 listing this year in AH, YL and Corona because of unrealistic sellers.
Example: I have a friend in Serrano Heights whose neighbor paid 900k last year for a plan 2. Now you can buy that same plan in the tract for $650-675.
His other neighbor just listed for $865 for a plan 3. But it's got 200 more sqft. and travertine! Ha! Good Luck with that! The next phase with a larger home is listed for $700k with a 3 car garage. The lender is also offering a 3 year buy down on the payment. Nobodys biting.
Wow! that makes me feel a lot better:jawdrop: I'm starting to s--t my pants.
Perfect time for me to move back to Cali!!
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