irvinehomeowner
Well-known member
I recall something like price changes alerts agents so it may increase views.
Not sure if that's right.
Not sure if that's right.
Newer Irvine listings with crazy WTF asking prices from equity sellers
- Thread starter usctrojancpa
- Start date
NEW -> Contingent Buyer Assistance Program
It would only give you more negotiating power as a buyer if sell reduces the price. How would it give you more negotiating power if seller increases the price? Remember a while back one of Martin's seller increased the listing price from $2.8M to $3.2M due to too many offers above $3M? I mean, that was at the peak, but the same principle applies. As a buyer, you don't get more negotiating power if seller increases listing price.
Either way, negotiating power depends on the market, not the price. Right now, we're sliding into buyer's market, so buyers currently hold the advantage in negotiation, regardless of price.
Bzzt, wrong. Listing price doesn't mean willing to sell at that price. Some sellers intentionally list below market price to attract more offers. Basically, letting buyers to outbid themselves.
Like I said, the market determines negotiating power, not price. You even said it yourself in the second sentence.
I went to the open house this weekend and that pool is embarrassing. You can't even swim in it. Not sure what the hell the owners were thinking on that one...
I don't think that's actually intended to be a pool. It's more like a pond for the waterfall. Or maybe it's a little pool for you to sit in there and relax.
So not gonna get $975/sf? I think they also have it listed for rent for $15k a month. Also a complete joke.
There's nowhere to sit and it looks pretty deep 8-10 ft on the deep end, I'd guess. The length of the pool is no more than 15-20 ft long.
To top it all off, this house is on a T-intersection. There are a couple other similar listings in the Groves asking $500k less - and you could argue that in this market those are on the high end too. No way this one is getting anywhere close to $975/ft.
A good contractor would have not recommended that the owner put in that pool. A spa, sure but not a pool in that tiny yard. It's a total FAIL in my opinion. If you want to get a pool, buy yourself a home with a big enough backyard.
I was right, thank you, but there is still so much wrong with your post.
What would be the value of warning people against buying after the peak? That would make no sense whatsoever. Everybody, including you, now realizes that home prices are headed down. Earlier this year you were in complete denial and I tried to warn you against making a mistake.
You're now trying to say I was wrong because prices haven't fallen far enough in three months to make me right. You have lived through multiple real estate busts and not one of them has lasted for just a few months, so why would you pretend like prices are done falling? This is major cognitive dissonance on your part.
Many people will stay put due to low rate loans, but there will always be death, divorce, and job losses causing inventory to churn. Demographically, there will be many fewer first time buyers later this decade, in a trend that will stretch far into the future. The tanking fertility rate that started during the Great Recession is going to start paying major dividends by reducing demand across the board.
If Opendoor goes under, which seems likely, that will mean less investor dollars pouring in and less demand in the Valley of the Sun. Eventually, there will be some good deals for investors, but not until a major price correction occurs. Nobody will want to buy a severely cashflow negative investment in a declining market.
Haha But up from $2.379m in April. When in doubt, increase the listing price to sell a home in a declining market.
Still $40k above the 5/26 listing price, which was the housing peak. Perhaps they added more options to the home since then.
sleepy5136
Well-known member
If I see that many price changes in a listing, it would give me more negotiating power as a buyer. I would be even more aggressive in that case. Doing what they are doing is not in the sellers interest TBH.irvinehomeowner said:
CalBears96
Well-known member
sleepy5136 said:
It would only give you more negotiating power as a buyer if sell reduces the price. How would it give you more negotiating power if seller increases the price? Remember a while back one of Martin's seller increased the listing price from $2.8M to $3.2M due to too many offers above $3M? I mean, that was at the peak, but the same principle applies. As a buyer, you don't get more negotiating power if seller increases listing price.
Either way, negotiating power depends on the market, not the price. Right now, we're sliding into buyer's market, so buyers currently hold the advantage in negotiation, regardless of price.
sleepy5136
Well-known member
because it shows me at one point in time you were willing to sell for that price. The market right now gives me even more reason to negotiate below the asking price and especially when the Fed plans to hike more.CalBears96 said:
CalBears96
Well-known member
sleepy5136 said:
Bzzt, wrong. Listing price doesn't mean willing to sell at that price. Some sellers intentionally list below market price to attract more offers. Basically, letting buyers to outbid themselves.
Like I said, the market determines negotiating power, not price. You even said it yourself in the second sentence.
potsticker
Active member
USCTrojanCPA said:
I went to the open house this weekend and that pool is embarrassing. You can't even swim in it. Not sure what the hell the owners were thinking on that one...
CalBears96
Well-known member
best_potsticker_in_town said:
I don't think that's actually intended to be a pool. It's more like a pond for the waterfall. Or maybe it's a little pool for you to sit in there and relax.
usctrojancpa
Well-known member
best_potsticker_in_town said:
So not gonna get $975/sf? I think they also have it listed for rent for $15k a month. Also a complete joke.
potsticker
Active member
CalBears96 said:
There's nowhere to sit and it looks pretty deep 8-10 ft on the deep end, I'd guess. The length of the pool is no more than 15-20 ft long.
To top it all off, this house is on a T-intersection. There are a couple other similar listings in the Groves asking $500k less - and you could argue that in this market those are on the high end too. No way this one is getting anywhere close to $975/ft.
usctrojancpa
Well-known member
bones said:
A good contractor would have not recommended that the owner put in that pool. A spa, sure but not a pool in that tiny yard. It's a total FAIL in my opinion. If you want to get a pool, buy yourself a home with a big enough backyard.
The Motor Court Company
Well-known member
totally agree! if it is a real swimming pool, equipments like pumps, filters, heaters and cleaners, and also chemical feeders and salt chlorine generators still take space; this will make the yard look even smaller.
USCTrojanCPA said:
irvinehomeowner
Well-known member
Funny thing, in 5 to 10 years... this will look cheap.
Yes... I still remember how much I ridiculed Laguna Woktura.
Yes... I still remember how much I ridiculed Laguna Woktura.
sleepy5136
Well-known member
I don't have time to go back/forth with you all the time. We can agree to disagree.CalBears96 said:
Liar Loan
Well-known member
Ready2Downsize said:
I was right, thank you, but there is still so much wrong with your post.
What would be the value of warning people against buying after the peak? That would make no sense whatsoever. Everybody, including you, now realizes that home prices are headed down. Earlier this year you were in complete denial and I tried to warn you against making a mistake.
You're now trying to say I was wrong because prices haven't fallen far enough in three months to make me right. You have lived through multiple real estate busts and not one of them has lasted for just a few months, so why would you pretend like prices are done falling? This is major cognitive dissonance on your part.
Many people will stay put due to low rate loans, but there will always be death, divorce, and job losses causing inventory to churn. Demographically, there will be many fewer first time buyers later this decade, in a trend that will stretch far into the future. The tanking fertility rate that started during the Great Recession is going to start paying major dividends by reducing demand across the board.
If Opendoor goes under, which seems likely, that will mean less investor dollars pouring in and less demand in the Valley of the Sun. Eventually, there will be some good deals for investors, but not until a major price correction occurs. Nobody will want to buy a severely cashflow negative investment in a declining market.
IP finally drops the price on this home and it?s a big drop ;D
https://redf.in/2Mv4HC
https://redf.in/2Mv4HC
usctrojancpa
Well-known member
Danimal said:
Haha But up from $2.379m in April. When in doubt, increase the listing price to sell a home in a declining market.
The Motor Court Company
Well-known member
$1.5k is a big drop?
Danimal said:
CalBears96
Well-known member
The California Court Company said:
Still $40k above the 5/26 listing price, which was the housing peak. Perhaps they added more options to the home since then.
irvinebullhousing
Well-known member
Think US home prices are high? At least we aren?t Canada
The average home in Canada is nearly nine times household income.
https://www.housingwire.com/articles/think-us-home-prices-are-high-at-least-we-arent-canada/
This is the reason why IHO stop thinking about moving to Canada.
The average home in Canada is nearly nine times household income.
https://www.housingwire.com/articles/think-us-home-prices-are-high-at-least-we-arent-canada/
This is the reason why IHO stop thinking about moving to Canada.