I hope I'm in the right place

NEW -> Contingent Buyer Assistance Program
[quote author="bkshopr" date=1208390903] I am working on a project in Port Towsend Washinton that feature this cottage style similar to Ross Chapin's creations. </blockquote>
You be sure and post me a link to that project when it's made public, bk. The wife loves Port Townsend and we occasionally spend a weekend there during the summers.
 
[quote author="Nude" date=1208393214][quote author="bkshopr" date=1208390903] I am working on a project in Port Towsend Washinton that feature this cottage style similar to Ross Chapin's creations. </blockquote>
You be sure and post me a link to that project when it's made public, bk. The wife loves Port Townsend and we occasionally spend a weekend there during the summers.</blockquote>


Nude,



I sure will. Projects in Washington are extremely sensitively developed to harmonize with the environment. Building materials are all from local sources to avoid excessive pollution caused by transport. Nuisance water will be filtered before releasing to the storm drain and ocean. House size is compact to conserve energy and to utilize space efficiency rather than wasted footage. Attics will be converted to bedrooms to maximize function within a small but smart house. This will be a project totally approved by mother nature and LEED certified. Everyone will have a porch and enjoys the great outdoor.
 
So you're saying your new project is the opposite of <a href="http://www.irvinehousingblog.com/forums/viewthread/1188/">Brightwater in Huntington Beach</a>?
 
manchester's place on Bluecoat is back on the market. Good luck MJ if you are checking in. I still say you should have gone for $699K on list, but at least you didn't bring it back at $800K.



Street value is no lower than when you last list expired and sales activity is up.
 
[quote author="awgee" date=1208331129]After reading another thread with many examples of sellers chasing the market down, it occurs to me that if one wants to sell a home in this market, the best strategy would be to price the property <strong>under</strong> whatever the perceived market value is, and let buyers bid the price up, instead of chasing prices down.



It's the price. That's all.</blockquote>
Winner. We have seen many examples of this, and works well. It creates a feeding frenzy for your house.
 
Coming from someone who just sold his place, I can confirm that PRICE is the ONLY ISSUE. I sold my place after 7 months on the market (not too bad all things considered), and that was <u>keeping it 10% below all comparable properties the entire time.</u>



Over that time period we had steady traffic with ~200 visits, which I am told is a ton.



The buyers ultimately decided to purchase because they believed the price was at or near the bottom. The final price was 22% off the original listed price, which was already 10% below the listed comps at the time. All told, I ended up selling ~27% off peak 2006 pricing. Based on this discount the buyers felt they we getting a great deal. Based on GRM of 160 the place should drop another 20% (so with their 20% down they will probably never be underwater).



The rule I used was "Price the home 3-5% below what you would ever consider taking".
 
MJ, your wife showed up at my Open House on Sunday. You may be from Manchester, but her accent was much stronger - Scottish or Welsh, maybe? From what she was saying, it sounds like it is time for you to have a serious sit-down with her if you're ever going to sell your place.
 
[quote author="IrvineRealtor" date=1216306088]MJ, your wife showed up at my Open House on Sunday. You may be from Manchester, but her accent was much stronger - Scottish or Welsh, maybe? From what she was saying, it sounds like it is time for you to have a serious sit-down with her if you're ever going to sell your place.</blockquote>


Thanks for bringing this one up again. We have a history lesson involved with this one, and the sooner you learn to avoid the falling knife, the more money you can make.





Sales History



Date Price Appreciation



Apr 13, 1988 $240,000 --



Jun 03, 1991 $285,000 5.6%/yr



Feb 27, 1998 $292,000 0.4%/yr



It needs to get below $320 a sqft. and that means $699k or less. You can see from the other listings that there are better properties priced for less, with some being on the market as long, and newer. I can be nit picky, but even from the pictures I can tell there is work that needs to be done. That isn't a good sign. If this thread keeps going I will post the homes in foreclosure trouble.
 
[quote author="IrvineRealtor" date=1216306088]MJ, your wife showed up at my Open House on Sunday. </blockquote>


I thought it was ex-wife?



In any case best of luck Manchester!
 
[quote author="NewToOC" date=1216340893][quote author="IrvineRealtor" date=1216306088]MJ, your wife showed up at my Open House on Sunday. </blockquote>


I thought it was ex-wife?



In any case best of luck Manchester!</blockquote>


Where has ole Manchester been? <a href="http://www.redfin.com/CA/Irvine/66-Bluecoat-92620/home/4781343">His place just dropped price to $720K.</a> A move in the right direction, but maybe not quite enough... Some neutral paint would sure help that place.
 
[quote author="ipoplaya" date=1217319896][quote author="NewToOC" date=1216340893][quote author="IrvineRealtor" date=1216306088]MJ, your wife showed up at my Open House on Sunday. </blockquote>


I thought it was ex-wife?



In any case best of luck Manchester!</blockquote>


Where has ole Manchester been? <a href="http://www.redfin.com/CA/Irvine/66-Bluecoat-92620/home/4781343">His place just dropped price to $720K.</a> A move in the right direction, but maybe not quite enough... Some neutral paint would sure help that place.</blockquote>
Maybe the reason this house isn't selling is because the buyers need to have a daughter named Juliette.



Staging 101 - depersonalize.
<fieldset class="gc-fieldset">
<legend> Attached files </legend> <a href="http://www.talkirvine.com/converted_files/images/forum_attachments/93_xzIc9Yf3ohP8MbPmVWrD.jpg"><img src="http://www.talkirvine.com/converted_files/images/forum_attachments/93_xzIc9Yf3ohP8MbPmVWrD.jpg" class="gc-images" title="Juliette.jpg" style="max-width:300px" /></a> </fieldset>
 
Oy. In its current state, that is not a home that will sell itself. Depersonalize, declutter, re-paint, and don't take a picture of a white house in the harsh afternoon sun. That first pic of the exterior really should be done early morning, or sunset. That could be a really nice house, but it needs to look like how the potential buyer would want it, not the seller. Oh, the exterior area over the slider to the backyard *really* needs to be repainted. It looks like the new door installation was not finished.
 
If he dropped the price to $625k, I bet they could move this fugly Brady Bunch pos. ~$285 sq ft would seem more than fair in 2008 for something that looks like it has not had any updates since it was new 28 years ago. By the end of 2009, it should be closer to $525k.



Even me who has one of the more bullish outlooks on this board believes that asking almost $750k for something built when Jimmy Carter was still President is absolutely ridiculous. The fact that it probably would have sold for well over $800k two years ago is even more ridiculous. Sorry for the rant, but something about this house is totally offensive to me. Can't quite say whether it is because of its offensive curb appeal, or offensive price --- or a combination of both.
 
As everyone mentioned previously, it is the price.



This listing popped up on my search radar this morning with the price drop. I read the listing before I found this thread. My $0.02. Get rid of all the clutter. The family photos on the wall behind the front door? Take them down. Throw all the refrigerator magnets in a drawer. Paint over the ugly yellow walls of Mr. Roper's "70's wet bar". I'd put Juliette's bed on a different wall. Do I want the image of my kids jumping on the bed and hitting their head on the low ceiling? I like the Tommy Bahama theme room, though. Switch the bookcase with the desk in the corner. People don't want to buy your home you live in. They want to buy their home they will live in. Consider asking your RE agent to spellcheck "Bougainvillea" and maybe reconsider if a 2,200 square foot home is really a "giant". And when you're done. lower the price again. The selling of a home doesn't start until you have an offer. Good luck.
 
[quote author="no_vaseline" date=1219111544]I take it you haven't put it up on your site yet?</blockquote>


It's there now. Just did a monster update...
 
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