Comments on: Hmmm….$354,000 Over Asking in a Down Market? http://thefrontsteps.com/2007/11/29/hmmm354000-over-asking-in-a-down-market/ Real Estate, Insight, Statistics, Gossip, & News...With a Twist and Some Flavor Mon, 21 May 2012 00:11:30 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: YourLandlord http://thefrontsteps.com/2007/11/29/hmmm354000-over-asking-in-a-down-market/comment-page-1/#comment-3081 YourLandlord Fri, 30 Nov 2007 18:49:55 +0000 http://thefrontsteps.com/2007/11/29/hmmm354000-over-asking-in-a-down-market/#comment-3081 Ummmm. WOW WOW WOW! Just in time for the SF market to rocket next yr with more rate cuts and bailouts. Lucky buyers. Ummmm. WOW WOW WOW! Just in time for the SF market to rocket next yr with more rate cuts and bailouts.

Lucky buyers.

]]> By: Craig http://thefrontsteps.com/2007/11/29/hmmm354000-over-asking-in-a-down-market/comment-page-1/#comment-3080 Craig Fri, 30 Nov 2007 18:18:49 +0000 http://thefrontsteps.com/2007/11/29/hmmm354000-over-asking-in-a-down-market/#comment-3080 Park North includes "NOPA". I don't really understand how a distinction was drawn at Masonic. Both sides are still "North of the (damn) Panhandle" from Stanyon to Broderick. Confusion... [<strong>Editor's note</strong>: Damnit! You're all right. We're putting this on the front page. A quick glance over my right shoulder to my handy map hanging on the wall revealed a large boulevard I could have sworn was Masonic. Not to be...Divis. Where EXACTLY is NOPA, who knows.] Park North includes “NOPA”. I don’t really understand how a distinction was drawn at Masonic. Both sides are still “North of the (damn) Panhandle” from Stanyon to Broderick. Confusion…

[Editor's note: Damnit! You're all right. We're putting this on the front page. A quick glance over my right shoulder to my handy map hanging on the wall revealed a large boulevard I could have sworn was Masonic. Not to be...Divis. Where EXACTLY is NOPA, who knows.]

]]> By: becky http://thefrontsteps.com/2007/11/29/hmmm354000-over-asking-in-a-down-market/comment-page-1/#comment-3082 becky Fri, 30 Nov 2007 00:07:02 +0000 http://thefrontsteps.com/2007/11/29/hmmm354000-over-asking-in-a-down-market/#comment-3082 Anything west of Masonic isn't NOPA, it's the Panhandle or North Park. And we existed way before NOPA ever did (way back when it was the Western Addition and Alamo Square). [<strong>Editor's note</strong>: Please excuse. We truncated North Panhandle into NOPA, like idiots, but have been out most of the day. For the record, all posts we do go off of the SFAR districts map and their associated names...for consistency and accuracy. You are correct and we should have written Park North. Thanks.] Anything west of Masonic isn’t NOPA, it’s the Panhandle or North Park. And we existed way before NOPA ever did (way back when it was the Western Addition and Alamo Square).

[Editor's note: Please excuse. We truncated North Panhandle into NOPA, like idiots, but have been out most of the day. For the record, all posts we do go off of the SFAR districts map and their associated names...for consistency and accuracy. You are correct and we should have written Park North. Thanks.]

]]> By: kenny http://thefrontsteps.com/2007/11/29/hmmm354000-over-asking-in-a-down-market/comment-page-1/#comment-3083 kenny Thu, 29 Nov 2007 19:17:59 +0000 http://thefrontsteps.com/2007/11/29/hmmm354000-over-asking-in-a-down-market/#comment-3083 In mid September people were even more leery. In mid September people were even more leery.

]]> By: realtor http://thefrontsteps.com/2007/11/29/hmmm354000-over-asking-in-a-down-market/comment-page-1/#comment-3076 realtor Thu, 29 Nov 2007 19:07:03 +0000 http://thefrontsteps.com/2007/11/29/hmmm354000-over-asking-in-a-down-market/#comment-3076 Foolio, Yes. This closed 11/28. This indicates that even though this place went into contract in Sep, actually October if you look at the report, the sale still went through even during all the negative reporting we're hearing. From what I can tell, there were contingencies and these buyers had the chance to pull out had they desired to do so. I'd be willing to bet that had they pulled out the other buyers would have been happy to pull in. Foolio,

Yes. This closed 11/28. This indicates that even though this place went into contract in Sep, actually October if you look at the report, the sale still went through even during all the negative reporting we’re hearing. From what I can tell, there were contingencies and these buyers had the chance to pull out had they desired to do so. I’d be willing to bet that had they pulled out the other buyers would have been happy to pull in.

]]> By: Foolio http://thefrontsteps.com/2007/11/29/hmmm354000-over-asking-in-a-down-market/comment-page-1/#comment-3075 Foolio Thu, 29 Nov 2007 18:16:44 +0000 http://thefrontsteps.com/2007/11/29/hmmm354000-over-asking-in-a-down-market/#comment-3075 Hmm...do mid-September sales accurately reflect what's going on today, 2 days from December? Hmm…do mid-September sales accurately reflect what’s going on today, 2 days from December?

]]> By: eddy http://thefrontsteps.com/2007/11/29/hmmm354000-over-asking-in-a-down-market/comment-page-1/#comment-3074 eddy Thu, 29 Nov 2007 17:25:12 +0000 http://thefrontsteps.com/2007/11/29/hmmm354000-over-asking-in-a-down-market/#comment-3074 :-) :-)

]]> By: james http://thefrontsteps.com/2007/11/29/hmmm354000-over-asking-in-a-down-market/comment-page-1/#comment-3077 james Thu, 29 Nov 2007 17:22:15 +0000 http://thefrontsteps.com/2007/11/29/hmmm354000-over-asking-in-a-down-market/#comment-3077 my district 6 is a big contrarian according to these stats: District 6 Oct-06 Oct-07 Number of Sales 15 28 Median Selling Price 692,000 742,500 Average DOM 40 36 50% more volume at 8% higher sales prices in 4 less days on market amazing! my district 6 is a big contrarian according to these stats:

District 6 Oct-06 Oct-07

Number of Sales 15 28

Median Selling Price 692,000 742,500

Average DOM 40 36

50% more volume at 8% higher sales prices in 4 less days on market

amazing!

]]> By: theFrontSteps http://thefrontsteps.com/2007/11/29/hmmm354000-over-asking-in-a-down-market/comment-page-1/#comment-3078 theFrontSteps Thu, 29 Nov 2007 17:05:41 +0000 http://thefrontsteps.com/2007/11/29/hmmm354000-over-asking-in-a-down-market/#comment-3078 Damnit Eddy! I'm about to run out the door and you caught me. You know we put all this "glory" reporting, and as you can see a lot of the "doom" reporting on the site to show there are always two sides to every story. We don't ignore the media, the congress, the federal reserve, or any of them. All of that information is valuable. We are simply saying that from what we are experiencing, as agents representing buyers and sellers in this very market, it is nowhere near as bad as the headlines are telling you. Yes, it has cooled, but no it is not that bad here in our little pockets of insanity. Not even close...yet. And nobody knows where things will be tomorrow. You are absolutely correct, "time will tell", and when it does, we'll be sure to tell all of you. Got to go. Thanks for your comments. Don't tear into me as I won't be near a computer for hours to defend myself. ;-) Damnit Eddy! I’m about to run out the door and you caught me. You know we put all this “glory” reporting, and as you can see a lot of the “doom” reporting on the site to show there are always two sides to every story. We don’t ignore the media, the congress, the federal reserve, or any of them. All of that information is valuable. We are simply saying that from what we are experiencing, as agents representing buyers and sellers in this very market, it is nowhere near as bad as the headlines are telling you. Yes, it has cooled, but no it is not that bad here in our little pockets of insanity. Not even close…yet. And nobody knows where things will be tomorrow. You are absolutely correct, “time will tell”, and when it does, we’ll be sure to tell all of you.

Got to go. Thanks for your comments. Don’t tear into me as I won’t be near a computer for hours to defend myself. ;-)

]]> By: eddy http://thefrontsteps.com/2007/11/29/hmmm354000-over-asking-in-a-down-market/comment-page-1/#comment-3079 eddy Thu, 29 Nov 2007 16:51:29 +0000 http://thefrontsteps.com/2007/11/29/hmmm354000-over-asking-in-a-down-market/#comment-3079 Just because a place "flys" off the market in 16 days for 30% over asking doesn't mean the market isn't tanking; just like the stalefish on masonic doesn't mean the market is tanking. These places will sell for what the market asks. There are still a lot of people with a lot of cash and buying power that need / want a home in SF and will pay market rates. But the statistics are telling us that there are 41% fewer of those people when compared to prior years. It's east to cheer the SF market and I don't hope for, or think, the market to crash; but you simply cannot ignore all of the real press (not bubble blogs, but real press, congress, the federal reserve, etc.) on the current state of the overall housing market. It's hard to believe, if not foolish to do so, that SF will be immune to these issues. Time will tell. Just because a place “flys” off the market in 16 days for 30% over asking doesn’t mean the market isn’t tanking; just like the stalefish on masonic doesn’t mean the market is tanking. These places will sell for what the market asks.

There are still a lot of people with a lot of cash and buying power that need / want a home in SF and will pay market rates. But the statistics are telling us that there are 41% fewer of those people when compared to prior years.

It’s east to cheer the SF market and I don’t hope for, or think, the market to crash; but you simply cannot ignore all of the real press (not bubble blogs, but real press, congress, the federal reserve, etc.) on the current state of the overall housing market. It’s hard to believe, if not foolish to do so, that SF will be immune to these issues. Time will tell.

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