The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: TraderC who wrote (21162)	6/2/2004 8:22:43 AM
From: Tradelite	Read Replies (2) of 306849

<<If they are not willing to lower the prices sufficiently, then maybe they are not really interested in selling>> That was my impression, as well, from what Lizzie said about people pulling houses off the market. No agent on earth wants to fool around with an unmotivated seller. If a seller is just fishing for a high price, he can waste his own time, but shouldn't expect agents and buyers to join him in pursuing his hobby. Plain and simple.... a house which won't sell after a decent time on the market is definitely overpriced and/or has an unmotivated seller. If a property sells, it was priced correctly for market conditions at the time and in line with its competition in the marketplace. Buyers are adequately equipped with comparable-sales information to know the difference. I find it amusing that some people are blaming NAR for publishing "misleading" sales statistics which are causing this dreadful overpricing problem for sellers. What a hoot! The other amusing thing is that so many seem to believe this is the first time in history that housing prices have gone up. Anyone working in real estate on the East Coast for decades has dealt with "sticker shock" from buyers who come to the area for the first time from just about anywhere in the U.S. ....EXCEPT California and New York. As for bubble talk.....well, I'm still waiting to see a significant number of buyers and homeowners in my area "speculating" in the real estate market. They simply want homes and there just isn't much more land on which to build them around here. Therefore, prices have gone up to meet the market. And I'm still waiting to see how the allegedly bursting bubble is going to flush millions of homeowners out of their homes in search of rental housing, thereby creating a glut of homes for sale. That will be the day. It would be nice to have a little more equilibrium in terms of supply and demand, and I'm sure then some people will be jumping up and down and claiming they told us so, housing was a bubble, and has burst. Yeah, right.

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