Comments on: The last seven days in Real Estate http://raincityguide.com/2006/08/31/the-last-seven-days-in-real-estate/ Seattle's Leading Resource for Real Estate Information Sun, 08 Nov 2009 01:47:42 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: Staten Island Real Estate Agent http://raincityguide.com/2006/08/31/the-last-seven-days-in-real-estate/#comment-341784 Staten Island Real Estate Agent Fri, 17 Jul 2009 17:37:52 +0000 http://raincityguide.com/2006/08/31/the-last-seven-days-in-real-estate/#comment-341784 I would say the theory of the average buyer is around $450,000 makes sense. Whether they are purchasing their first home or 2/3 Home, $450,000 is about what most can afford without over taxing themselves. I would say the theory of the average buyer is around $450,000 makes sense. Whether they are purchasing their first home or 2/3 Home, $450,000 is about what most can afford without over taxing themselves.

]]> By: Dave Halliwill http://raincityguide.com/2006/08/31/the-last-seven-days-in-real-estate/#comment-17159 Dave Halliwill Mon, 11 Sep 2006 19:29:58 +0000 http://raincityguide.com/2006/08/31/the-last-seven-days-in-real-estate/#comment-17159 Well, it can vary greatly depending of course, but right on Lake Somerset where we're at typically between $200,000 ans $300,000 for an averave three bedroom. My folks did have one on two lots on a channel down the road at Lake Leann that recently went for more like $170,000 or so. Devils Lake and Lake Columbia are Natural and Man Made Lakes, respectively, that are a little larger, so prices tend to go up. Lots on Devils can go for $100,000 to $200,000. The Irish hills is right down the road and tens to be less up scale in some ways, but many old natural lakes tucked away in the hills. You might get some steals down there once in a while. Well, it can vary greatly depending of course, but right on Lake Somerset where we’re at typically between $200,000 ans $300,000 for an averave three bedroom. My folks did have one on two lots on a channel down the road at Lake Leann that recently went for more like $170,000 or so. Devils Lake and Lake Columbia are Natural and Man Made Lakes, respectively, that are a little larger, so prices tend to go up. Lots on Devils can go for $100,000 to $200,000.

The Irish hills is right down the road and tens to be less up scale in some ways, but many old natural lakes tucked away in the hills. You might get some steals down there once in a while.

]]> By: ARDELL http://raincityguide.com/2006/08/31/the-last-seven-days-in-real-estate/#comment-17068 ARDELL Sun, 10 Sep 2006 16:07:04 +0000 http://raincityguide.com/2006/08/31/the-last-seven-days-in-real-estate/#comment-17068 What do lakefront homes cost there Dave? Ballpark range. What do lakefront homes cost there Dave? Ballpark range.

]]> By: Dave Halliwill http://raincityguide.com/2006/08/31/the-last-seven-days-in-real-estate/#comment-17059 Dave Halliwill Sun, 10 Sep 2006 13:23:37 +0000 http://raincityguide.com/2006/08/31/the-last-seven-days-in-real-estate/#comment-17059 My folks company deals with Homes, Lake Homes, and Acreage, and I can tell you theat when it comes to looking on the Internet, everyone is interested in looking at Lake Homes and Large Acreage, but whats really selling is the other stuff. Some of this may be that when it comes to the pocket book, Southeast Michigan is really feeling the pinch a little extra because of cut backs in the Auto Industry. I do, however, think that because of the way the market has turned, that there are good deals on lakefronts for folks who still have the cash My folks company deals with Homes, Lake Homes, and Acreage, and I can tell you theat when it comes to looking on the Internet, everyone is interested in looking at Lake Homes and Large Acreage, but whats really selling is the other stuff. Some of this may be that when it comes to the pocket book, Southeast Michigan is really feeling the pinch a little extra because of cut backs in the Auto Industry. I do, however, think that because of the way the market has turned, that there are good deals on lakefronts for folks who still have the cash

]]> By: Greg Swann http://raincityguide.com/2006/08/31/the-last-seven-days-in-real-estate/#comment-14967 Greg Swann Fri, 01 Sep 2006 20:02:07 +0000 http://raincityguide.com/2006/08/31/the-last-seven-days-in-real-estate/#comment-14967 > An even better way to sharpen the tool to a fine degree of accuracy, is to looke at properties back to back in the same price range and area. We do this with sellers. We'll take a comp tour of the vacants at least, and we might make web pages of preview photos of the occupied homes, so <I>they</I> can tell <I>us</I> which will sell first and for how much. > An even better way to sharpen the tool to a fine degree of accuracy, is to looke at properties back to back in the same price range and area.

We do this with sellers. We’ll take a comp tour of the vacants at least, and we might make web pages of preview photos of the occupied homes, so they can tell us which will sell first and for how much.

]]> By: ARDELL http://raincityguide.com/2006/08/31/the-last-seven-days-in-real-estate/#comment-14958 ARDELL Fri, 01 Sep 2006 18:53:55 +0000 http://raincityguide.com/2006/08/31/the-last-seven-days-in-real-estate/#comment-14958 Greg, That reminds me, here's a great tip for new agents. Go to broker's opens and keep a three ring binder of your tour sheet. Write down what you think about the house. Will it sell fast? Will it sell at this price? In the beginning you may be off, but eventually you will get right on target. When you can predict with accuracy which will sell and which will have price reductions and where exactly each house will sell...you are ready to move up from Buyer's only to Listing Agent. Fight the urge to look at homes like a buyer and writing notes like "I like it" or "I hate the carpet"...who cares. Will it sell fast and will it sell without a price reduction are the key questions to fine tune your valuation tool in your brain. An even better way to sharpen the tool to a fine degree of accuracy, is to looke at properties back to back in the same price range and area. You will quickly be able to tell which of the 10 will sell first and why. Go back and double check your answers as they sell off, and write those results down in the binder, until you get most of the answers right. Greg,

That reminds me, here’s a great tip for new agents. Go to broker’s opens and keep a three ring binder of your tour sheet. Write down what you think about the house. Will it sell fast? Will it sell at this price?

In the beginning you may be off, but eventually you will get right on target. When you can predict with accuracy which will sell and which will have price reductions and where exactly each house will sell…you are ready to move up from Buyer’s only to Listing Agent.

Fight the urge to look at homes like a buyer and writing notes like “I like it” or “I hate the carpet”…who cares. Will it sell fast and will it sell without a price reduction are the key questions to fine tune your valuation tool in your brain.

An even better way to sharpen the tool to a fine degree of accuracy, is to looke at properties back to back in the same price range and area. You will quickly be able to tell which of the 10 will sell first and why. Go back and double check your answers as they sell off, and write those results down in the binder, until you get most of the answers right.

]]> By: Greg Swann http://raincityguide.com/2006/08/31/the-last-seven-days-in-real-estate/#comment-14955 Greg Swann Fri, 01 Sep 2006 18:40:42 +0000 http://raincityguide.com/2006/08/31/the-last-seven-days-in-real-estate/#comment-14955 With the builders, here at least, it's a short-term thing. They'll bleed off their excess inventory, then it will be business as usual. I'm with you on looking at houses. I love seeing them, and I love seeing everything in them. Every house tells a story, and I love to puzzle them out. With the builders, here at least, it’s a short-term thing. They’ll bleed off their excess inventory, then it will be business as usual.

I’m with you on looking at houses. I love seeing them, and I love seeing everything in them. Every house tells a story, and I love to puzzle them out.

]]> By: ARDELL http://raincityguide.com/2006/08/31/the-last-seven-days-in-real-estate/#comment-14952 ARDELL Fri, 01 Sep 2006 18:19:13 +0000 http://raincityguide.com/2006/08/31/the-last-seven-days-in-real-estate/#comment-14952 I've heard that from Vegas and outside Naperville as well. It's killing those with 3-5 year old resale products nearby. In Seattle, the only one's competing with new are single family homes in the $400,000 to $500,000 range competing with newer townhomes. In Kirkland Downtown, it's resale competing with both new and conversions, like the one I'm going to see today. I'm so excited. How do we stay excited about going to see yet another condo conversion? Sometimes I think I'm whacko. I get the same way about view property. Never get tired of em, or jaded. I’ve heard that from Vegas and outside Naperville as well. It’s killing those with 3-5 year old resale products nearby.

In Seattle, the only one’s competing with new are single family homes in the $400,000 to $500,000 range competing with newer townhomes. In Kirkland Downtown, it’s resale competing with both new and conversions, like the one I’m going to see today. I’m so excited. How do we stay excited about going to see yet another condo conversion? Sometimes I think I’m whacko. I get the same way about view property. Never get tired of em, or jaded.

]]> By: Greg Swann http://raincityguide.com/2006/08/31/the-last-seven-days-in-real-estate/#comment-14949 Greg Swann Fri, 01 Sep 2006 18:01:27 +0000 http://raincityguide.com/2006/08/31/the-last-seven-days-in-real-estate/#comment-14949 I would say that Phoenix has been a solid buyer's market for many months. The difference between this and the insane seller's market we went through from around March 2004 to September 2005 is that buyers aren't as willing to go low as they had been willing to go high. To get a bargain in our market, you have to be willing to settle for less than the one, true, perfect, ideal, irreplaceable home. If you can choose from a range of acceptable alternatives, you have bargaining power. If you must have this one-and-only-home, you're leverage is diminished. FWIW, right now is an incomparable time to buy a spec home in Phoenix. Builders are burning money to get finished or nearly-finished units out the door before the end of the quarter. It's Hobson's Choice, but the deals are amazing. I would say that Phoenix has been a solid buyer’s market for many months. The difference between this and the insane seller’s market we went through from around March 2004 to September 2005 is that buyers aren’t as willing to go low as they had been willing to go high. To get a bargain in our market, you have to be willing to settle for less than the one, true, perfect, ideal, irreplaceable home. If you can choose from a range of acceptable alternatives, you have bargaining power. If you must have this one-and-only-home, you’re leverage is diminished.

FWIW, right now is an incomparable time to buy a spec home in Phoenix. Builders are burning money to get finished or nearly-finished units out the door before the end of the quarter. It’s Hobson’s Choice, but the deals are amazing.

]]> By: ARDELL http://raincityguide.com/2006/08/31/the-last-seven-days-in-real-estate/#comment-14946 ARDELL Fri, 01 Sep 2006 17:39:14 +0000 http://raincityguide.com/2006/08/31/the-last-seven-days-in-real-estate/#comment-14946 Back to the news, Greg, are you seeing a buyer's market starting out your way? Could simply be the season end doldrums, where we all get ready for that September sprint before the season goes into hibernation. I heard from a peer in another state that the low end was stagnant, and the activity was in the upper numbers. Our stats seem to be moving in that direction as well. I'll dig deeper into inventory and see why there were only 5 sales under $300,000 over on my side of the Lake, and 46 between $400,000 and $500,000. Back to the news, Greg, are you seeing a buyer’s market starting out your way? Could simply be the season end doldrums, where we all get ready for that September sprint before the season goes into hibernation.

I heard from a peer in another state that the low end was stagnant, and the activity was in the upper numbers. Our stats seem to be moving in that direction as well. I’ll dig deeper into inventory and see why there were only 5 sales under $300,000 over on my side of the Lake, and 46 between $400,000 and $500,000.

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