8548 57Th Dr, Coral Springs, FL 33067
- 3 Bed, 2 Bath SFH
- Bought in August 2006 for $385,000
- On the MLS for $309,000
- Days on the Market: 70
- Loss before the Realtor® commission: $76,000
- Loss after the Realtor® commission: $94,540
New request: I am looking to add "buyers" that have multiple distressed properties for sale. If you know of any, please provide a link or MLS listing to one of their properties. I want to highlight some of speculators that were caught holding multiple properties.
Stumble It!
7 comments:
I sometimes go through old listings that are sent to me by my "used house salesman" & have noticed quite a few homes had their listing price RAISED.
For example:
Original list at $300k
New listing at $375k
Can someone explain this to me?
I'll pull MLS numbers later - have to make believe I'm working for a little while :p
This is something I am noticing quite a lot too. People who purchased in 2006 and 2007 trying to sell at the price they paid or quite lower.
Appear to be latecomers to the flippin party. LOL
Sad thing is, they also contributed to the hopes of their neighbors that they can still get unrealistic prices for their homes.
This property is listed at 183.00 per sq/ft for a 1995 house built at less than 100.00 per sq/ft. This is still wishing prices in my opinion.
HappyRenting
Are there buyers in between the listings? If not, a very curious development.
Very interesting article about the cause of the growth in homeownership at:
http://www.businessweek.com/bwdaily/dnflash/content/oct2007/db20071019_946332.htm?campaign_id=yhoo
HappyRenting.
Anon - houses have no buyers in between
Example
MLS: F865271
When I received the email on 9/4/2007, this is what it looked like:
New Listing $315,000 330 SW 203RD AV
4 Bedrooms, Status: Active. Single Family (RE1)
Today that same home is listed for $359,900 after being on the market for 51 days.
Ziprealty shows the increase in price too:
Price Reduced: 10/19/07 -- $315,000 to $309,900
Price Increased: 10/23/07 -- $309,900 to $359,900
This isn't the first either! I've seen so many homes listed and then in a month or two the price increased!!!
Interesting. Ziprealty doesn't list any 'sold homes' in this neighborhood in the last 6 months. Maybe someone convinced him his price was too low. The ad says 'lowest priced home' in the neighborhood. Maybe he figures since no one is buying anyway its good enough if he is the lowest priced. I wouldn't pay 350k for this house, and this just tells me all the houses for sale are still grossly overpriced.
HappyRenting
I am going to guess the raising of asking prices is a new tactic being used by Used House Salesmen and some sellers. It's a tactic of, "why chase the market down while I can make my own market, and when the market returns to the good ol' days, I'll sell at the top". Ignorance may be bliss, but carrying costs will break your back!
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