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#1359257 - 03/17/10 06:43 PM
Turnaround in the housing market?
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10K Club
Joined: Jun 2004
Posts: 19,844
Pulling people out of the ditc...
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One of my managers put his house on the market Saturday, had 2 people look Sunday, 1 Monday, an offer was made and accepted yesterday...talk about fast work...he did for sale by owner, so he is happy that he isn't paying 6% for 3 days work
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#1359286 - 03/17/10 07:06 PM
Re: Turnaround in the housing market?
HappyGilmore
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Power Poster
Joined: May 2009
Posts: 3,567
Ohio
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Maybe over in your neck of the woods it has been. I looked at the foreclosure notices yesterday and saw a house that my wife and I have looked at in the realtor ads in the paper going up for auction in April, for about 1/2 the cost it had been listed at. I called the realtor to schedule a walk-through just a bit ago and she said "Oh my gosh I don't know why but this house has been really popular today!" I wanted to tell her the bad news but hey, I want to see the place!
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#1359317 - 03/17/10 07:29 PM
Re: Turnaround in the housing market?
Buccs
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Power Poster
Joined: Nov 2008
Posts: 4,132
Somewhere in the middle
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I have been looking at houses in my market, most have been WAY over priced. The realtors tell me it is because our market is not effected by all the bad stuff out there. BS!!
Yeah, this market has 17% unemployment, the schools can't pass a levy, The factories are laying off and cutting production lines and shifts, the schools enrollments drop each year (The reason they have closed three elementary schools).
Why? Because people are leaving this depressed area.
You are asking too much because you sold them this house for too much 2-5 years ago. So, you can sell it to me for what I am offering and ask the bank to take a short sale, or I will buy it on the courthouse steps when it goes to auction.
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#1359344 - 03/17/10 07:47 PM
Re: Turnaround in the housing market?
BotV#6
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Power Poster
Joined: Aug 2004
Posts: 5,912
Outside A Garage
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I'd mortgage my grandparents to get a house in CA for 120000.00.
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#1359350 - 03/17/10 07:51 PM
Re: Turnaround in the housing market?
Blade Scrapper
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Diamond Poster
Joined: Mar 2002
Posts: 2,355
The O.C., California
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You mean in CA in an area you would actually want to live in, right?
I think there are plenty for 120K - but you don't want to live in Moreno Valley or Palmdale, I'm sure.
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#1359355 - 03/17/10 07:56 PM
Re: Turnaround in the housing market?
califgirl
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Power Poster
Joined: Aug 2004
Posts: 5,912
Outside A Garage
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Yes, I meant civilized California.
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#1359358 - 03/17/10 08:01 PM
Re: Turnaround in the housing market?
Blade Scrapper
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Diamond Poster
Joined: Mar 2002
Posts: 2,355
The O.C., California
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LOL
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#1359403 - 03/17/10 08:38 PM
Re: Turnaround in the housing market?
califgirl
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10K Club
Joined: Oct 2006
Posts: 14,390
Cheeseheadland
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I sold my house last spring in what I felt was a relatively good time frame considering my market. I built it in 2004-05, sold by owner, and asked and was was able to negotiate a reasonable price I felt considering everything else. I was able to get a little more than what I payed to build it four years earlier (well, except for all the after build add-ons like the deck, landscaping, granite counters, drywalling my garage, etc) but I did feel I got a reasonable price for where the market was at.
Neighbors around us who had their homes on the market for many months before, and after (and 2 still today) were livid that we were 'giving our house away'. No, we were pricing where the market was at, and unfortunately, it just simply is not as high as you want it to be. No longer can you build a house and ask for 40k more than you paid to build it two years later, no matter how great you think it is.
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#1359408 - 03/17/10 08:41 PM
Re: Turnaround in the housing market?
#Just Jay
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Diamond Poster
Joined: Nov 2009
Posts: 1,331
Hoosier Country
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WTF?! This is going to make me cry. My house has been on the market for 5 months. We've had 40+ showings, 99% all positive feedback, and nothing. I'm going to go jump out the window now. This sucks!!! Waaaaah!!!! <-- whining and crying
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#1359450 - 03/17/10 09:08 PM
Re: Turnaround in the housing market?
QCL
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Power Poster
Joined: Jan 2004
Posts: 2,795
Guess
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pjs, I was thinking the same thing!!! Or maybe hide some cameras? That could be too traumatic for Agnessa...people can be quite mean when touring a home.
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#1359452 - 03/17/10 09:10 PM
Re: Turnaround in the housing market?
QCL
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10K Club
Joined: Sep 2002
Posts: 13,965
TN
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I'm sure Agnessa's house is just fine. It's just in an upscale area of Indianapolis and probably higher than most people can afford. Hang in there - it will sell.
We sold our house in Georgia almost a year ago at a loss. Actually, we sold it for what we paid for it, but also gave some buyer concessions and we had probably put about $15-20,000 in it in 3 years. It was necessary to sell, though, because we moved about 400 miles away. We had neighbors who listed theirs before we did and almost 3 years later it still hasn't sold. They never dropped their price - it was higher than what we sold for and our house was larger and a little nicer.
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#1359503 - 03/17/10 09:51 PM
Re: Turnaround in the housing market?
Skittles
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Junior Member
Joined: Jul 2008
Posts: 42
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Mines been on the market for 18 months. Dropped price from 199K to 189K and to 164K the first of '10. 3 "tire kickers" so far, no offers. Bad schools, bad economy, no jobs. It's 2700 sf on 15ac.
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#1359509 - 03/17/10 09:55 PM
Re: Turnaround in the housing market?
Zebra 15
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Power Poster
Joined: Aug 2004
Posts: 5,912
Outside A Garage
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You vcan get a house in CA for 164K, as long as the word "crack" is in front of it.
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#1359531 - 03/17/10 10:25 PM
Re: Turnaround in the housing market?
Blade Scrapper
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Power Poster
Joined: Aug 2006
Posts: 4,266
Chillin an grillin
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I bought my house almost 2 years ago for $145,000 less than the original asking price and thought we were getting a great deal. (Talk about over pricing, sheesh) We put about $25,000 into it for granite, appliances, carpet ,paint, light fixtures, door knobs, just about anything you can think of and it has appraised for even less than we bought it. So we have stopped short of remodeling the master bath and the back patio. Can't throw more money away but I sure do want my bathroom remodeled...
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#1359533 - 03/17/10 10:26 PM
Re: Turnaround in the housing market?
Blade Scrapper
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Power Poster
Joined: Mar 2005
Posts: 6,298
San Diego, CA
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You vcan get a house in CA for 164K, as long as the word "crack" is in front of it. Or it doesn't have a permanent foundation A la trailer trash...
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#1359548 - 03/17/10 11:07 PM
Re: Turnaround in the housing market?
Truffle Royale
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Power Poster
Joined: Aug 2006
Posts: 4,266
Chillin an grillin
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Don't discount it, some older houses have a lot more character. We have had two brand new houses before this one and when we were shopping this time, we couldn't find a new house worth a darn that was under a half million dollars they were all awful or had awful parcels.
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#1359602 - 03/18/10 06:09 AM
Re: Turnaround in the housing market?
califgirl
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Power Poster
Joined: Jun 2001
Posts: 8,272
Where the heart is
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You mean in CA in an area you would actually want to live in, right?
I think there are plenty for 120K - but you don't want to live in Moreno Valley or Palmdale, I'm sure. Ummm, actually Moreno Valley and Palmdale ARE relatively civilized. If you want thee Garden Spot, try Barstow! Although truth be told, the Outlet Stores in Barstow can be worth the trip. Especially the Coach outlet!
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#1359617 - 03/18/10 12:24 PM
Re: Turnaround in the housing market?
bOaty
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10K Club
Joined: Sep 2002
Posts: 13,965
TN
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BS - are you planning on staying in this house for awhile? If so - go ahead and do the renovations for yourselves - or at least some of them so you enjoy your home more.
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#1359622 - 03/18/10 12:40 PM
Re: Turnaround in the housing market?
Skittles
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10K Club
Joined: Jun 2004
Posts: 19,844
Pulling people out of the ditc...
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we've put some serious money in our house over the past 2 years with some serious remodels...likely we can recover what we put in it if we sell, but we like where we are, it is a good location, and we have no plans to sell anytime soon. So, i'm not concerned about recovering our investment, but rather enjoying our home.
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