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Saturday, May 31, 2008
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15 comments:
Doug, Lance, check this out.
Compare to this link.
The first is a full scan of 22305 (North Ridge, the top of Del Ray, Hume, and E REED) with recent sales showing. 91-59 = 32 units sold. (Seems like a high rate.)
The second scan excludes recent sales. 59 listings (0 W GLEBE is a multiple)
Just flipping between the two views, it looks like places are selling. The bulk of the sales are the pricier units.
Prices in the mid range, older THs are soft, down perhaps 10 or 15%.
It looks like SFH are rising in price.
One error in the listings, Price $180,000 - For Sale
2622 WAGON
ALEXANDRIA, VA 22305
Status ACTIVE
WAGON isn't in 22305.
I've noticed some really odd things happening on MLS lately. Using several different search tools, some houses with "for sale" signs just don't show up. Others that I had been following suddenly drop off. I swing by to see if they went under contract, sign never changes.
Has anyone else noticed this? Is it a faulty search tool (or user)? Agents playing games? If the later, there could be far more inventory out there than people realize because this has been common (anecdotaly about 1 in 10 houses I know of for sale is not on MLS).
I believe these houses are going to auction
Pony-moss: Others that I had been following suddenly drop off. I swing by to see if they went under contract, sign never changes.
10 W GLEBE was marked "SOLD" in MLS for a couple months but the "For Sale - Bank Owned" sign stayed up.
I drove by last week and the sign was "down" but leaning against the house.
I have no idea what's going on with that place.
eponymous said...
I've noticed some really odd things happening on MLS lately. Using several different search tools, some houses with "for sale" signs just don't show up.
Ghost listings. Its very common in weak markets to artificially reset the days on market. Usually the homes re-enter the MLS when the seller thinks they have a better chance. In which areas have you seen this? There are two homes within two blocks of my rental that are doing this.
Got Popcorn?
Neil
Wannabuy asked "in what areas"?
McLean, Chevy Chase, Bethesda, Kensington. It has been quite common, enough so that I suspect it could influence inventory stats.
It seems hard to believe that buyers would care about DOM. Only location, house and price matter. It is also very easy for the buyer to find out how long it has really been for sale. I guess agents have to come up with some sort of gimmick to make them look like they are earning their commission.
Thanks for the replies.
I've seen it happen in Oakton and Vienna
Add Springfield to the list.
From today's Post, a lady from McLean who refuses to "give her house away":
http://tinyurl.com/5stal7
Terminator-X said...
"From today's Post, a lady from McLean who refuses to "give her house away""
Actually, that article had some good tips on how to increase your chances of getting something for good discount. For example:
"The trick to a successful lowball offer may also be in the presentation. "The way to phrase it is: 'We really love the house, but we couldn't afford it at that price. This is what we could afford. We know it's way below what you're asking, but would you consider it?' " Frohlinger said.
That will leave the seller with a different impression than if the potential buyer complains about odd color choice, outdated fixtures or an inconvenient floor plan. "It is the way you make a lowball offer as much as the number itself," Frohlinger said.
Of course, I suspect groveling may be hard for some of the "full-of-themselves" BHs I've encountered here ... Huh Leroy?
I suspect groveling would be just want some people here would like . . . and then they would laugh and spit in the face of those groveling.
We groveled just like that on our last offer, almost word for word. Had been for sale for more than two years. We even let them see our finances to prove we weren't hiding anything from them.
They countered $155K higher than our offer.
It's still for sale.
"Of course, I suspect groveling may be hard for some of the "full-of-themselves" BHs I've encountered here ... Huh Leroy?"
Groveling?
It is a business transaction lance.
I suppose you "groveled" when you bought your house.
Perhaps you "groveled" when you bought your car.
Maybe you "grovel" when you get your restaurant bill...
Hey, if all else fails maybe it will get the deal done... but I think there is little doubt that a good groveler today will get more for their groveling than even the best groveler could have gotten last year when you called the bottom...
What is the point?
The point is that a smart buyer is able to position themselves to get more for their money while the hasty buyers rush into the market...
"The first is a full scan of 22305 (North Ridge, the top of Del Ray, Hume, and E REED) with recent sales showing. 91-59 = 32 units sold. (Seems like a high rate.)"
Seems like a high rate huh?
Why don't you just look at the MRIS stats?
Why would an honest observer of the market ignore reliable data with years of previous data to compare to in favor of something like you just posted?
Do you have any idea how that "data" compares to previous years? Or even previous months?
A week from Tuesday we will have May's sales data.
eponymous said...
“It seems hard to believe that buyers would care about DOM. Only location, house and price matter. It is also very easy for the buyer to find out how long it has really been for sale.”
I care about DOM. And I would imagine buyers that do their homework care about DOM. An at a glance look at similar houses, you’d have more negotiating power with a home that’s been on the market 300 days vice 100. Furthermore, DOM is reported by MRIS as another gauge of the market.
For the sheeple out there, it’s not “very easy” to find out how long a home has really been on the market. Only a handful of search engines reveal DOM. I wouldn’t rely on a real estate agent doing much more than looking at the DOM on the full service MLS, not even bothering to follow up with a tax ID search or address search.
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