I've had at least 5 houses around me on the market for close to a year now. Nothing is moving here in Vegas, but no one is dropping their prices yet either. I heard 1 out of every 67 houses in Vegas is in forclosure right now.....
Nothing seems to be selling this year. There are 6 houses on our street that have been for sale for a long time (one of them has been on the market for over a year (Northeast Phoenix). 3 of the houses have been empty for at least 6 months.
How does it look in your neighborhood?
I've had at least 5 houses around me on the market for close to a year now. Nothing is moving here in Vegas, but no one is dropping their prices yet either. I heard 1 out of every 67 houses in Vegas is in forclosure right now.....
Stuff is selling. It is just people are on crack and think their house is worth what it was in 2005 and unfortunately there are many agents out their that don't have the balls to either 1) tell them or 2) refuse to take the listing at a price 30% over market. So what you get is 6 houses for sale on the street for 6 monts with no action. The ones that are priced right don't last more than 60 days in todays market. These listings are sold by the experienced agents that tell it like it is and don't mess around with overpriced headache listings.
Oh, and yes...volume is down too
By me its slowed down, when from sign up one day gone the next, to a week to 2 weeks on the market. Still a few that have been for sale for a LONG time, but they are so over priced its not even funny.
I sold my house a in 6 hours. Just closed escrow this past monday. I had the realtor bring me comps of what closed, not what things were listed for. The buyer came in and we negotiated price down 2% from list price. This is a buyers market, you need to be in front of the curve if you want to sell.
moto is right- with only 1 of 10 selling right now in most of CA, price is everything.
When I talked to a realtor, he said you had to be in front of the rolling ball. Or another words, priced to sell if you wanna sell.
I've had at least 5 houses around me on the market for close to a year now. Nothing is moving here in Vegas, but no one is dropping their prices yet either. I heard 1 out of every 67 houses in Vegas is in forclosure right now.....
As of last week it is 1 out of every 36 now...we have had about 9 for sale within a 4 block radius and nothing is moving...they missed the boat....
It does seem like everything is about $100,000 priced to high. I'd have a hard time loosing money like that.
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.