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

To: Tradelite who wrote (79546)	6/15/2007 10:29:49 AM
From: MulhollandDrive	Read Replies (3) \| Respond to of 306849

the only reason to make excessive 'demands' is because the perceived value isn't there and a buyer wants to get it one way or the other.... you see a tremendous amount of this kind of haggling in S. CA...rather than lower prices, sellers will SPEND money to get their price..that used to work when there sufficient equity to tap to make the improvement to get the sale 'at their price' that market no longer exists comparable sales are the reason that sales agents will try to convince sellers in a soft market to 'spend the money' to make the property move seller have ALWAYS prepped their homes with small cosmetic changes to help with the marketing of the home... now you have buyers EXPECTING when they see a house for $700k+ (like the home cited in the article) amenities like granite....you don't expect to pay that kind of money for laminate <ng> .....it's about perceived value and perceived FUTURE appreciation, no one wants to pay top dollar for a fixer if they think the market will remain soft because of increasing supply if you have a property that hasn't moved in 6 months despite small, incremental price reductions there are basically 2 reasons: 1. your house is in a lousy location 2. your house is overpriced

To: Tradelite who wrote (79546)	6/15/2007 10:44:12 AM
From: Broken_Clock	Read Replies (1) \| Respond to of 306849

One our agents had a client offer on a beautiful new home on a spectacular view acre about 6 months ago. They actually offered full price but wanted the furniture thrown in($2.495,000). The owner and his sleazy brother who is a silent partner said "No way!...we're raising the price!). Today the home is listed with another agent at 100k below the original offering price and includes all the furniture. The original listing agent and her husband(also an agent) have lost their million dollar home in foreclosure and headed back to the mainland since Hawaii is a deficiency judgement sate. Those judgements hang around for 20 years.