RE market is shifting slowly to buyers market
invite response
2015 Oct 4, 1:02pm 4,294 views 10 comments
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yes, "research" shows that home sellers tend to reduce their prices in the fall season... this doesn't happen every single fucking year - no way.
It's always a buyers market,because they overpay. Enjoy your new shack.
Any price over 10% of listing is too much.
I love to go to auctions. Someone bids $100,someone else bids $110.
Dumbass! Second bid should be $90.
Rew
2015 Oct 6, 2:26pm
Just seasonality.
My local market, listings at extremely low levels, prices back at 2007 highs, price per square-foot almost higher than ever before. I don't think the market (in terms of sales price) will cool that much this winter, which means the price insanity continues in 2016.
Sales volume doesn't mean poop. As a seller, if I put my house on the market right now, I'm competing against an extremely small range of comps, as well as houses with similar features. It means I can demand top dollar.
Sellers market in the extreme right now (my local area, at-least).
hanera
2015 Oct 6, 4:26pm
Which one of you have bought this year or plan to buy next year?
Which one of you have sold this year or plan to sell next year?
I have bought one SFH in Austin recently, can't afford to buy any in SF/SV and have no interest to buy in other parts of SFBA.
Strategist
2015 Oct 6, 6:26pm
Which one of you have bought this year or plan to buy next year?
Yes......Yes again.
Prices will never be this low again.
It's now or never.
Buy now or forever be sorry.
FortWayne
2015 Oct 6, 11:35pm
Sales volume doesn't mean poop. As a seller, if I put my house on the market right now, I'm competing against an extremely small range of comps, as well as houses with similar features. It means I can demand top dollar.
Last year that would have been true. This year there is a huge slow down already. Last year every place had 30 offers, this year it's 1 or 2. Next year, only god knows what next year will be. If trend continues you'll have to suck it up probably on the aggressive pricing model.
Remember next year rates will go up slightly, and 2 years from now with Republicans finally in the white house even higher. You know what that does to the housing prices.
hanera
2015 Oct 7, 1:36am
Last year that would have been true. This year there is a huge slow down already. Last year every place had 30 offers, this year it's 1 or 2. Next year, only god knows what next year will be. If trend continues you'll have to suck it up probably on the aggressive pricing model.
Still can't tell whether it is seasonal or because RE has peaked. Many houses in hoods where I monitor closely are now sold with only one bid. But I'm still not sure because around the same period last year, prices did come down but in Spring, prices rally vigorously. So, the slowdown could be seasonal + stock market correction's effect, and not a peak.
FortWayne
2015 Oct 7, 7:45am
Still can't tell whether it is seasonal or because RE has peaked. Many houses in hoods where I monitor closely are now sold with only one bid. But I'm still not sure because around the same period last year, prices did come down but in Spring, prices rally vigorously. So, the slowdown could be seasonal + stock market correction's effect, and not a peak.
I have no idea too. Some of it is probably due to higher asking prices, some probably economy or seasonal related. I don't think anyone knows. It's just it is very drastic drop from last year, that's the only thing I noticed.
because RE has peaked.
it's in the zone - investment is getting more cautious/careful, but the "peak" may actually turn into a "mesa" for a while.
https://www.redfin.com/research/reports/2015/redfin-fall-housing-outlook-sees-healthy-buyer-demand-steady-price-and-sales-growth.html#.Vg6-Md9VhBc?utm_medium=email&utm_campaign=1001612_Conversion+-+Demand+Index+September+2015_Split1&utm_source=strongmail
“Buyers are worried about too-high prices and are more cautious about making offers,†said Karen Krupsaw, Redfin vice president of real estate operations. “We’re seeing that sellers are getting the memo, as more people are dropping their prices in the past few weeks.â€
Buyers today would rather keep searching than overpay for a home. Redfin agents report that sellers are beginning to come to terms with this mindset, and some have started lowering their listing prices.
#housing