Comments on: Lies, damn lies and statistics

By: Lee

Lee — Thu, 12 Jun 2008 23:28:45 +0000

So, T, any luck selling your home ? Any nibbles ?

By: T

Mon, 07 Apr 2008 19:11:28 +0000

I think we are priced right… and the supply in this price range is limited… we’ll see. I don’t NEED to sell, so that takes some of the pressure off.

Even if prices stay flat, I’ll have the advantage of a no-contingent offer. It will indeed suck if rates rise, but I’m presuming that won’t happen until after the election at least. Though I’m also hoping/betting that the spreads on jumbos will come down from the 150 bps over conforming too.

By: wcrealestate

wcrealestate — Mon, 07 Apr 2008 17:55:54 +0000

I think you’ve got the right idea. There’s going to be a seasonal rally and many a buyer will simply say they “must” buy this year and won’t wait. So, I think you’ll find a market if you’re pricing it well.

A recent listing in Walnut Creek’s Diablo Shadow neighborhood went on the market at $750K – which was a very attractive price for the area. The result? It sold in the first weekend.

I still think it was overpriced, but there were 4+ offers, showing that there is demand, particularly for what is perceived as value in this market.

Worst case scenario is that the prices remain the same and interest rates rise slightly. I personally think we’ll see another price drop in late Fall after the seasonal flurry of activity and that rates will be essentially unchanged in the face of a flagging housing market.

By: T

Mon, 07 Apr 2008 17:29:30 +0000

I just listed my house in Lafayette, hoping to sell into the pent up winter demand and supposed bottom fishers. I expect something of a bear market rally this spring – but the trend is still decidedly negative. I’m going to sit on the cash for 6-18 months while inventory hopefully rises and prices drop further. Don’t want to wait too long, lest interest rates get cranked up again.