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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Broken_Clock who wrote (79535)	6/15/2007 12:30:34 AM
From: MulhollandDrive	Read Replies (2) \| Respond to of 306849

“But 22 months later and $224,00 cheaper, their home is still on the market because buyers have asked for a new roof, granite countertops or new gates for the pool. The home, now listed for $749,000 by Coldwell Banker, has fallen out of escrow six times.” “‘They make demands, huge demands,’ Diane Golden said. ‘A buyer wants everything replaced, brand-new.’” noooooooo..... the price is still too f'ing high just lower the price sufficiently and be done with it these 'demands' are nothing more than buyers attempts to get the seller to re-price the house

To: Broken_Clock who wrote (79535)	6/15/2007 7:05:06 AM
From: Tradelite	Read Replies (1) \| Respond to of 306849

<<“‘In a hot market, all homes are created equal,’ agreed local Realtor Bob Casagrand. ‘In a cold market, all homes are not created equal. In a cold market, the distance between the good stuff and the not-so-good stuff widens substantially.’”>> Wow, is that ever true. I had to drive thru several neighborhoods that previously had been feverishly undergoing the teardown-old-stuff-and-build-new-tacky-McMansion-stuff-on-tiny-lots-and-try-to-get-a million-plus-bucks yesterday. For-sale signs, empty old houses not yet torn down, yards overgrown with tall grass and the small builders' signs sticking out in the yard. (One builder's sign actually had been spray-painted months ago with graffiti, and he hasn't bothered to cover it up yet). These neighborhoods don't support the prices the small no-name builders are trying to get for their unbuilt palaces--never have and won't until ALL the tiny little very old homes get torn down. Who wants to pay $1.5 million for something wedged between--and towering above-- two 1950s one-level hovels on quarter-acre lots? Shoulda been a big national-sized builder in there earlier who could make deals with a hundred or so homeowners at a time and really improve the neighborhood as a whole, all at once. The small builders think they could do it one house at a time. They will be in bankruptcy court, if they aren't already. One of these ersatz mansions is nearing completion next door to my father's house. I noted the builder had hired one of the arguably BEST agents in town to market the house. (She was the second agent from the same large successful firm who had had a sale sign in the yard.) Her sign was down yesterday and replaced by another small independent real estate broker who has been around for a long time, selling his services real cheap and running his main retail cigar-store biz on the side. Even his sign in the yard is showing signs of age--he obviously hasn't bought new ones since the 1980s. I'm pretty certain the good former agents quit the job, knowing it was a lost cause and waste of marketing money. The new broker probably hasn't promised to supply much help, so his low fee is "attractive" to this losing builder. Heh....meanwhile he'd better keep his construction debris out of my father's yard, or he's going to get yet another threatening letter from my father's two offspring.