When are Real Estate Agents going to admit the market has turned and start pricing homes lower?
536045
To your question, I do not think they will ever admint that. If you are buyer - it is always buyer market, if you are seller - it is always sellers market. Agents work on commission and therefore they wil take nay listing that comes across. As to your agent in CA that sold a property in 2 weeks, some agnets like to offer low price and get multiple offer, some agents like to go with higher price and get 1 offer. Every agent work differently, the best way to approach the market is to find an agent who has or had a listing in your neigborhood, not 20 miles away , because those agents have a very good idea how houses look inside and what price range you should work with.
835823
The sellers will have to accept the contingency. If the market where you live is booming, they may agree. But to help your chances make an offer at or above the asking price. Just remember that the house is still available for other potential buyers to see and make offers on. So you need to move quickly.
1110783
There is no "standard", just what the market will bear.\n\nBut I just heard a figure you may find interesting.  There was a survey done recently by real estate people and the average monthly rent increase is expected to be 5.3%, about double what the average increase was last year.\n\nReason given is that interests rates are rising so home purchases are slowing.  More people are staying in apartments so demand is up.  Supply is also down as many apartments are being converted to condos.\n\nSounds like you did pretty well.
306295
It's probably you that got the house but call and talk to your agent ASAP.  Usually the sign would say Sale Pending.  I know in our office we run out of "Sale Pending" signs on occasion and just go right to using "Sold" signs.
634179
Never offer the full asking price. I would start out offering 10,000 less than they are asking. They'll probably negotiate with you till you come to a happy medium. Happy house buying!
820238
Its a slight correction in the market.....If interest rates stay low, you will see the market pick up again.....Its also the off season, come spring, it should pick up again....
768999
DATED: 11-7-06\n\nI HOPE I CAN HELP.  THE TRUTH IS THAT THE MARKET IS IN A CORRECTION PHASE RIGHT NOW.  THAT IS TO SAY THAT THE MARKET IS MAKING ADJUSTMENTS AND IT WILL BE DIFFICULT TO DETERMINE REALLY AT ANYTIME WHAT WILL HAPPEN.  BUT, THE MARKET HAS  TRANSITIIONED TOWARD COOLING DOWN.  \n\nEACH REGION IS AFFECTED DIFFERENTLY BASED ON CERTAIN VARIABLES.  EXAMPLE HERE IN LAKE TAHOE WE HAVE A LARGE SEGMENT OF PURCHASES BY SECOND HOME PURCHASERS.  THESE ARE VACATION AND INVESTMENT PURCHASES, AND IS PROBABLY DIFFERENT THAN THE AREA YOU LIVE IN.  \n\nTHE BEST THING TO DO IS RESEARCH THE OTHER AREAS  OF CALIFORNIA YOU ARE INTERESTED IN AND CONTACT A LOCAL REPUTABLE REALTOR WHO CAN HELP YOU.  ALSO, CONTACT A LOCAL REALTOR IF YOU ARE INCLINED TO SELL YOUR HOUSE,  AND THEY CAN GIVE YOU A COMPARARTIVE MARKET ANALYSIS FOR FREE TO TELL YOU ABOUT HOW MUCH YOUR HOUSE COULD SELL FOR.\n\nANOTHER OPTION YOU MAY OR MAY NOT HAVE IS TO REFINANCE.  THERE ARE A LOT OF DIFFERENT PROGRAMS TO FIT INDIVIDUAL NEEDS.  IF YOU CONTACT SOME MORTGAGE LENDERS, THEY MAY BE ABLE TO PUT TOGETHER A GOOD PROGRAM FOR YOU.  SHOP AROUND.  THERE ARE A LOT OF LENDERS THESE DAYS AND IT IS VERY COMPETITIVE, WHICH IS BETTER FOR YOU THE CONSUMER.\n\nIT IS VERY DIFFICULT FOR ANYONE TO DETERMINE THE SHORT-TERM EFFECTS OF REAL ESTATE INVESTING, BUT HISTORICALLY SPEAKING, IT HAS BEEN VERY APPRECIATIVE IN THE LONG TERM.\n\nBE BLESSED AND BE HAPPY!
895206
i love your question.  your home sounds exactly like ours.\nwe also started out as a fsbo for 2 weeks-then listed with a realtor\nwe have been on the market for 15 months- all remodeled with corian kit counter top and cherry wood cabinets, loaded with ceramic tile, priced right for the neighborhood, level corner lot,\nexcellent curb appeal-we have reduced our home several times\nit is now priced less than we have in it.  just makes me sick, but i want to move and my patience is running out.  other homes in this area have sold for faster than others-but-here we sit........\ni don't know what the answer is - i even did away with all the cheap builder fixtures and plumbing and upgraded.  even put in a \nnew all leaded glass front door with side lights.  when you state the 4 buyers want to "steal it" , my question is are you moving to another home that will increase in value enough for you to take a \nloss here and make it back in another home.  that's what we have talked about.  if you have a serious qualified buyer, ready, willing and able try to get a meeting of the minds and move on.\ni truly understand your frustration and wish i had an answer, but\nyour not alone in this declining housing market we are in today.\nyou can also look at this as an opportunity to find yourself another\nhome where the seller is willing to take less than offered.  \nthis truly is a nightmare trying to sell a home in todays market.\nyou have my blessing and i wish you alot of luck in both selling and purchasing a new home.
1111842
If homes in Mendocino were selling for $75,000 each, then there would be no slump.\n\nSlumps happen when there are no sellers selling at the price that buyers can afford, or wish to pay.  So one of two things must happen for a sale to take place - either the seller must drop the price, or the situation in Mendocino must somehow improve such that buyers want to pay more to live there.
36196
The sky's the limit. Realtor's must present every offer that's received, even verbal ones.  But that doesn't mean that they can't talk down an offer by encouraging the seller to keep taking offers.\n\nYou might be surprised.  A seller listing their house for $492K just might sell it for $350K.  They might be desperate...or they were just "reaching" when they posted the $492K price in the first place.\n\nThe market is set by YOU.  What the BUYERS are willing to pay.  So don't let any price intimidate you.  You're the real guage for the selling price of a home.
910610
Heck yea and many scum sucking realtor will also. If they list a property that is way under market they flip it. There is no reason why they would even market the house or even put it on the MLS.  This is just one of the games that they do, check out this web site.\n\nhttp://www.breakingbubble.com/index.htm
1011680
Keep in mind...........\n\nTimes and markets are changing!\n\nIn California with average homes selling well over $500,000, a 20% decline is $100,000! In any market 'timing is everything'! So, could you afford a loss of 25% of your investment all because of poor timing???\n\nThis last up cycle was 10 years in many parts of the country. The downcycle now started in CA, Wash DC, NYC, Vegas and other hot areas of the past are all soft and getting softer.\n\nFrom 1990 to 1996, the average home in San Diego lost 20% of its' value! The cycle we are now enterng looks like it could well exceed that on the downside!\n\nWith all the 100% financing, interest only loans, EZ qualifing etc...even a slight decline will cause many to be unable to sell for the amount due on their loans!\n\nFor some great 'insider' articles on the San Diego real estate market, which I believe will apply to any of the hot real estate markets of the past five years.....visit:\n\nhttp://www.downtown-san-diego-real-estate.com/san-diego-real-estate-article-index.htm\nhttp://www.brokerforyou.com\nhttp://www.san-diego-for-sale-by-owner.com\nhttp://www.la-jolla-ca-del-mar-san-diego-real-estate-encinitas-california.us\nhttp://www.brokerforyou.com/blogger/index.html\nhttp://san-diego-coastal-real-estate.blogspot.com\nhttp://sandiegofsbo.blogspot.com\nhttp://downtown-san-diego-real-estate-views.blogspot.com
121161
Perfessionals believe that the prices are overinflated at the present and will be decreasing in the near future in most areas.
907708
Yes, listen to your instincts.  If your agent is not doing their job, fire them!  Get someone who knows what they're doing.  This time, do extra research on who actually knows what they're doing.  You should have a comparative market analysis done free of charge by any agent that wants your business.  This will show you what houses are selling for in your area.  (Not what they are listed for, that information is useless).
1071715
Find a real estate agent and ask them. They can tell you what the market is doing in your area.
413985
Well, I would definitely wait until these current housing prices bottom out. I'm not sure about the 7 year rule, because real estate is LOCAL. That means if you find a good deal in an area, don't wait to buy it or someone else will. Prices can crash in one area and stay strong in another. It all depends on the local economy.
173802
You probably don't want to here this but here goes anyway. There are only a few reasons why homes don't sell in a market as dynamic as the one we have been in. The # 1 reason is that they are over priced, #2 bad location or something wrong with it #3  poor marketing. With that being said most sellers really love their houses, in fact, the love them so much they always try to get more than they are worth. Some realtors will say anything to get a potential deal, even agree with you on a sales price that is not realistic. I'd look at those three areas before coming to any conclusions. How are other homes in your area moving? 90-120 days is not unreasonable most anywhere. Are there any regional factors affecting sales, growth or lack of, housing availability etc. See what zillow.com says.