Hat tip to Cheese who sent this in, from Bard College: Self-reported home values are widely used as a measure of housing wealth by researchers; the accuracy of this measure, however, is an open empirical question, and requires some type of market assessment of the...
An example of a buyer who took a lowball shot at a listing that had some tell-tale signs: 1. A number of other active listings nearby that weren't selling, 2. Out-of-town REO listing agent, 3. A World Savings/Wachovia/Wells Fargo original loan amount of $687,000,...
It was suggested that the market over $750,000 was "becoming non-existant", and in yesterday's seminar, a realtor said that demand in general was "non-existant". Does a market exist? Let's look at MLS detached active, actives on market more than 90 days, contingents...
The mainstream media has really been loading up and blasting the negativity this week, since the housing stats came out. The people they interview get caught up in the hoopla too, and the more negative you are, the more you'll see yourself on TV! I went to a seminar...
The list price in the MLS is $5,000,000, but it's going to auction on September 29th. The city has the right to reject the final price, and they need at least $3,000,000 to pay off the park debt. In the remarks: LAST OPPORTUNITY LIKE THIS IS DEL MAR EVER! "The City...
For those looking for 'deals' in the 92130, there are houses that have been purchased recently that have closed for less than $300/sf. What do you get?
From an article in the WSJ, and four excerpts (with JtR's comments underneath): 1. Sales may have been even worse if mortgage rates hadn't been so low, said David Berson, chief economist at PMI Group Inc., a mortgage insurer in Walnut Creek, Calif. Low mortgage rates...
This video has Yunnie saying that the sky may not be falling, which proves that he reads here. Larry, the next time they stick a microphone in your face, say that the problem with the record-high inventory is that the sellers are crazy about their list prices! Lower...
At 7am this morning the NAR existing-home sales data for July is due out, and everyone expects a bloodbath. Pundits will be guaranteeing the double dip, and calling for home prices to plunge throughout the land. There will also be remarks about how the tax credit...
Everyone is looking forward to the existing-home sales data coming out Tuesday:
