The RE bubble floats around.

[Pablo]

I still feel like I'm overpaying but......

http://money.cnn.com/2005/08/03/real_estate/buying_selling/pmi_riskiest-markets/index.htm

 

[jason07-1zzfe]

So they're saying prices may go down, not just stabilize? Yeah doesn't look like youll be getting a better deal anytime soon. Even if you did, interest rates would be higher.

Hmm, price decline... Somehow I don't think my town will deem necessary to do one of their annual valuation adjustments for tax purposes if that happens.

But I am a low risk area too.

 

[GROUCHO MARX]

Real estate valuations can be and are very localized. Only way to effect a decline in prices is more sellers than buyers in the particular market.

 

[Pablo]

The current (July) median price for all 3 bedroom houses sold in Lynden is $370,000. My house has 4 HUGE bedrooms, a den, a office, etc on a nice safe creek. Built in 1990, it's not new, but not ancient either. Clean, shiny and sweet. All the mechanicals are well lubed and work great. We are priced just a tad over $400K.

We had a few people look on Wed/Thursday.

Now it is Saturday. Not one person has looked at the house today.

Please tell me (as all the RE weenies tell) me that August (and warm) is just not a good sales month.

I'm getting a little scared. On Tuesday the house will have been on the market for 7 days.

 

[GROUCHO MARX]

Pablo, I would think that people need a little time to make that big a financial commitment.

A house down the road from me (new construction) took at least 8 months to sell. I think the guy was asking something over 3 million. It's across from and below the water line of the reservoir.

 

[Pablo]

Hey at least some lookers would be nice

 

[Amkeer]

You want it priced at $399,900.00.. When you cross over a even number it needs to be a good chunk such as $419,900.00. Anything less than that needs to fall below $400,000.

The longer it stays on the market a home becomes stale. The MLS is set up with numbers so that a Realtor can tell when a home is on the market a while. When it stays on the market a while only two things effect the sale, price and condition. Overpricing a home to bring in offers will not work most of the time. Realtors will avoid showing homes that are overpriced or on the market for a length of time. They want the NEW TO MARKET, WELL PRICED homes to show first.

Only you know whether your home is priced properly. If you are being honest and not looking solely at $$$$$$$$ then it will sell.

My home was under contract within one day. The buyer ran into some financing problems after 40 days. They were minor, but I kicked his contract out after expiration and reactivated my home. I gave him the oppurtunity to come back with a set closing if my home wasn't currently under contract with another buyer. Once this was done its amazing how quickly buyer and lender will get things done. Within 4 days of reactivating my home a Realtor put in an offer at full price and waived his commission, however it had contingencies. The first buyer was told about the offer from the Realtor. Once they learned of this the closing was set 2 days later. So the initial buyer got it done.

Work it!

 

[Pablo]

You know Amkeer - I tried to make the $399k point with the Realtor for your reasons and the typical RE web search reason (some people will plug in $400K MAX)....in reality though it should be $419K!

Crap this agent is spazzing me......I sorta had to choose her because of the GMAC relo package my company contracts with....

 

[Pablo]

For what it's worth the market here was VERY slow last week. We shall see.