Interesting article on spring inventories!

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Posted by dleeny

great article, I read it last week. have you checked out homepages.com & zillow.com? very interesting stuff!

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I agree, those are very interesting sights. However, the figures they give aren't always accurate. For example, it shows my home's value 4 times less than what it really is.

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Posted by FallBride05

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Posted by dleeny

great article, I read it last week. have you checked out homepages.com & zillow.com? very interesting stuff!

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I agree, those are very interesting sights. However, the figures they give aren't always accurate. For example, it shows my home's value 4 times less than what it really is.

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when the site first came out, the prices for homes I looked at where way below. but they seem to have fixed it, for LI anyway

I showed it to DH and he just said.... 'OMG... Don't I wish!!!!' It's probably what the house was appraised at 10 years ago when the previous owners bought the house.

I wish it was accurate for our area, it would be interesting to see. Although I did see on homepages.com that there is a house on the market two blocks from us that is on the market for 1.3 mil!

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Posted by FallBride05

I showed it to DH and he just said.... 'OMG... Don't I wish!!!!' It's probably what the house was appraised at 10 years ago when the previous owners bought the house.

I wish it was accurate for our area, it would be interesting to see. Although I did see on homepages.com that there is a house on the market two blocks from us that is on the market for 1.3 mil!

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just because its on the market for $1.3 mill doesnt mean that they'll get it....a house is only worth what someone will pay for it!

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Posted by Meaghan729

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Posted by FallBride05

I showed it to DH and he just said.... 'OMG... Don't I wish!!!!' It's probably what the house was appraised at 10 years ago when the previous owners bought the house.

I wish it was accurate for our area, it would be interesting to see. Although I did see on homepages.com that there is a house on the market two blocks from us that is on the market for 1.3 mil!

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just because its on the market for $1.3 mill doesnt mean that they'll get it....a house is only worth what someone will pay for it!

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The history in our area (and we did loads of research when we were shopping for homes), is that the houses go for either the asking price or more. Example: We looked at a house we wanted to bid on, knew there would be a bidding war so we decided not bid because we knew it would go higher than what we were willing to pay. The house was on the market for $699k, sold for $803k in the end! This is typical for our area. We got lucky on the house we eventually ended up with. No bidding war, sellers took 10k less than what they were asking and in the end we got more house for only 2k more than what the house we originally wanted to bid on. All the market comparisons for our area show consistent pricing for our area what the house is listed for vs. what the house is sold for.

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Posted by Meaghan729

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Posted by FallBride05

I showed it to DH and he just said.... 'OMG... Don't I wish!!!!' It's probably what the house was appraised at 10 years ago when the previous owners bought the house.

I wish it was accurate for our area, it would be interesting to see. Although I did see on homepages.com that there is a house on the market two blocks from us that is on the market for 1.3 mil!

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just because its on the market for $1.3 mill doesnt mean that they'll get it....a house is only worth what someone will pay for it!

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this is true. DH and I have seen a lot of houses sell for quite a bit under asking (at least in the areas we're looking). The houses we've seen go for asking are move in ready.

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Posted by dleeny

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Posted by Meaghan729

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Posted by FallBride05

I showed it to DH and he just said.... 'OMG... Don't I wish!!!!' It's probably what the house was appraised at 10 years ago when the previous owners bought the house.

I wish it was accurate for our area, it would be interesting to see. Although I did see on homepages.com that there is a house on the market two blocks from us that is on the market for 1.3 mil!

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just because its on the market for $1.3 mill doesnt mean that they'll get it....a house is only worth what someone will pay for it!

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this is true. DH and I have seen a lot of houses sell for quite a bit under asking (at least in the areas we're looking). The houses we've seen go for asking are move in ready.

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So true! I read an article that said sellers are trying to get top dollar for their homes and are ending up going down significantly...
I've seen one that's been posted on this site move DOWN $100k...that's a lot of moolah!

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Posted by 103005FallBride

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Posted by dleeny

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Posted by Meaghan729

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Posted by FallBride05

I showed it to DH and he just said.... 'OMG... Don't I wish!!!!' It's probably what the house was appraised at 10 years ago when the previous owners bought the house.

I wish it was accurate for our area, it would be interesting to see. Although I did see on homepages.com that there is a house on the market two blocks from us that is on the market for 1.3 mil!

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just because its on the market for $1.3 mill doesnt mean that they'll get it....a house is only worth what someone will pay for it!

---

this is true. DH and I have seen a lot of houses sell for quite a bit under asking (at least in the areas we're looking). The houses we've seen go for asking are move in ready.

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So true! I read an article that said sellers are trying to get top dollar for their homes and are ending up going down significantly...
I've seen one that's been posted on this site move DOWN $100k...that's a lot of moolah!

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out of all the houses DH and I have looked at, only one sold for above asking but it was way underpriced for the area and condition it was in. The kitchen was gourmet with granite countertops, it was very tastefully decorated and it had CAC. Our realtor told us it sold for $10K more than asking.

there was a house in Oceanside I liked last summer- it went from $1.2M to $999,000 and then dropped again-

people are not getting the same high numbers now they were getting 2 years ago

2 summers ago my Dad's house would have sold at $700K - $750K

he put it on the market for $599K- we will see what it goes for

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Posted by Beth1210

there was a house in Oceanside I liked last summer- it went from $1.2M to $999,000 and then dropped again-

people are not getting the same high numbers now they were getting 2 years ago

2 summers ago my Dad's house would have sold at $700K - $750K

he put it on the market for $599K- we will see what it goes for

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it doesn't help that interest rates keep going up.

the rates haven't gone up that much

and my husband says he would rather pay less for a house and take the higher rate- then re-fi when rates drop

then over pay for a house and have the value drop

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Posted by Beth1210

the rates haven't gone up that much

and my husband says he would rather pay less for a house and take the higher rate- then re-fi when rates drop

then over pay for a house and have the value drop

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I agree with him, but sellers are listing the houses for what they could have last year when the rates were in the 5% range.

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Posted by dleeny

then over pay for a house and have the value drop

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I agree with him, but sellers are listing the houses for what they could have last year when the rates were in the 5% range.

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I doubt they will get those prices- which is why the invetory is high now- people aren't willing to just pay anything for a house anymore

-my dad dropped his price $100K less then the agent said he could get - so it wont sit there

I should add that my Dad used to own the company that is listing our house- so he knows the market very well and felt the house wouldn't move at $700K - but it would at $599K

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Posted by Beth1210

the rates haven't gone up that much

and my husband says he would rather pay less for a house and take the higher rate- then re-fi when rates drop

then over pay for a house and have the value drop

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rates are starting to go up.

on bloomberg - it shows that the 30 year fixed was at 5.5 a year ago. One month ago it was at 5.81, and current is 6.03

So it took 11 months to go up 30 basis points, but only one month to go up 20.

and the 10 year treasury has gone up significantly over the past month - rates are definitely going to go up more.

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Posted by FallBride05

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Posted by dleeny

great article, I read it last week. have you checked out homepages.com & zillow.com? very interesting stuff!

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I agree, those are very interesting sights. However, the figures they give aren't always accurate. For example, it shows my home's value 4 times less than what it really is.

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Zillow is a total waste. Its not something you can take seriously.

You are better off going on mynassauproperty.com and getting better figures there.

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Posted by DjPiLL

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Posted by FallBride05

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Posted by dleeny

great article, I read it last week. have you checked out homepages.com & zillow.com? very interesting stuff!

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I agree, those are very interesting sights. However, the figures they give aren't always accurate. For example, it shows my home's value 4 times less than what it really is.

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Zillow is a total waste. Its not something you can take seriously.

You are better off going on mynassauproperty.com and getting better figures there.

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we're not looking in Nassau

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Posted by Meaghan729

zillow is good for finding recent home prices in the area you are looking for.

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But only if the site's been updated. I checked out zillow and laughed at the prices they indicated for my area, because I know it's waaaaaaaaaaaaay off! I'm talking quite a few hundred thousand dollars off too!