Thursday, October 15th, 2009 at 1:52 AM
Frenzy-O-Meter
Who cares where the market has been, where is it going??
How do you know if the market is going up or down? Better or Worse?
Monitor specific listings in your area. Rate each listing based on how well the list price reflects the value (and eventual SP).
Does the list price incite urgency?
Did you grab for your checkbook?
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Early in my career I learned to use this sophisticated organizational system to assist with tracking – I put each listing in one of these three categories:
1. Hot Buy
2. Warmed-Over Turd
3. Dog, Barks at Traffic
Try this at home! You’ll see that using these categories will help!
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How fast they go pending can give you a clue about the sales price:
First 10 days = list price or higher
11-30 days = within 5% of list price
30+ days = at least 5% to 10% off list
We’ll follow a few listings to help gauge the market’s direction in the fourth quarter – here’s a youtube tour of the first set:
Posted on Thursday, October 15th, 2009 at 1:52 AM in Frenzy, Jim TV, Thinking of Buying?, Tips, Advice & Links, Training | 39 Comments » | 
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