Comments on: Why Is Real Estate Inventory Down….. Sales! http://www.weknowurban.com/blog/2009/12/why-is-real-estate-inventory-down-sales/ WeKnowUrban.com Blog, discussion and news about loft, high rise, and urban condo living in Phoenix, Scottsdale, and Tempe. Sat, 24 Jul 2010 20:28:02 +0000 hourly 1 http://wordpress.org/?v=3.0 By: Press Box Info http://www.weknowurban.com/blog/2009/12/why-is-real-estate-inventory-down-sales/comment-page-1/#comment-2238 Press Box Info Wed, 23 Jun 2010 04:34:15 +0000 http://www.weknowurban.com/blog/?p=1699#comment-2238 This is very misleading. This is very misleading.

]]> By: Arizona Homes For Sa http://www.weknowurban.com/blog/2009/12/why-is-real-estate-inventory-down-sales/comment-page-1/#comment-2117 Arizona Homes For Sa Wed, 21 Apr 2010 06:21:15 +0000 http://www.weknowurban.com/blog/?p=1699#comment-2117 The dollar are much less but to repeat a sale is a sale. Anyone that bought a bargain in late 2008 or 2009 will be able to sell at a profit in 2010. The dollar are much less but to repeat a sale is a sale. Anyone that bought a bargain in late 2008 or 2009 will be able to sell at a profit in 2010.

]]> By: Austin Homes 4 Sale http://www.weknowurban.com/blog/2009/12/why-is-real-estate-inventory-down-sales/comment-page-1/#comment-2116 Austin Homes 4 Sale Wed, 21 Apr 2010 06:19:17 +0000 http://www.weknowurban.com/blog/?p=1699#comment-2116 Our economy is really improving right now, real estate are going strong this year, you got to be wiser in investing so you wotn waste your money Our economy is really improving right now, real estate are going strong this year, you got to be wiser in investing so you wotn waste your money

]]> By: Dean Graziosis Scam http://www.weknowurban.com/blog/2009/12/why-is-real-estate-inventory-down-sales/comment-page-1/#comment-2102 Dean Graziosis Scam Thu, 08 Apr 2010 12:49:29 +0000 http://www.weknowurban.com/blog/?p=1699#comment-2102 It's the biggest mess the states seen in Real Estate drops.As unemployment persists and more foreclosures hit the market prices should keep headed south.Prices went up from 1997 to 2007, it'll take longer than a couple of years to give most of that back. It’s the biggest mess the states seen in Real Estate drops.As unemployment persists and more foreclosures hit the market prices should keep headed south.Prices went up from 1997 to 2007, it’ll take longer than a couple of years to give most of that back.

]]> By: Joseph Lee http://www.weknowurban.com/blog/2009/12/why-is-real-estate-inventory-down-sales/comment-page-1/#comment-1892 Joseph Lee Thu, 24 Dec 2009 00:45:50 +0000 http://www.weknowurban.com/blog/?p=1699#comment-1892 That is correct. Until the surplus is gone the prices will not appreciate. Let me emphasize that the MLS sales do not include Trustee sales, Auctions or For sale by owner. With those included the unit sales would be greater than 2004 or 2005. The $ are much less but to repeat a sale is a sale. Anyone that bought a bargain in late 2008 or 2009 will be able to sell at a profit in 2010. That is correct. Until the surplus is gone the prices will not appreciate. Let me emphasize that the MLS sales do not include Trustee sales, Auctions or For sale by owner. With those included the unit sales would be greater than 2004 or 2005. The $ are much less but to repeat a sale is a sale. Anyone that bought a bargain in late 2008 or 2009 will be able to sell at a profit in 2010.

]]> By: Will Daly http://www.weknowurban.com/blog/2009/12/why-is-real-estate-inventory-down-sales/comment-page-1/#comment-1876 Will Daly Sun, 20 Dec 2009 03:47:01 +0000 http://www.weknowurban.com/blog/?p=1699#comment-1876 Joseph - So if I'm reading your data correctly it seems that you too see the number of sales today to being roughly comparable to sales during 2004 and 2005. Folks, we recognize that a very large number of these sales are foreclosures and short sales but who cares? Sales are sales. And sales help to keep inventories down which leads to price appreciation and a healthier market. Buy a foreclosure now before prices and/or interest rates go up. Joseph – So if I’m reading your data correctly it seems that you too see the number of sales today to being roughly comparable to sales during 2004 and 2005. Folks, we recognize that a very large number of these sales are foreclosures and short sales but who cares? Sales are sales. And sales help to keep inventories down which leads to price appreciation and a healthier market. Buy a foreclosure now before prices and/or interest rates go up.

]]> By: Joseph Lee http://www.weknowurban.com/blog/2009/12/why-is-real-estate-inventory-down-sales/comment-page-1/#comment-1873 Joseph Lee Fri, 18 Dec 2009 23:51:02 +0000 http://www.weknowurban.com/blog/?p=1699#comment-1873 Not all cities are created equal: 2008 (12/17) 2009 (12/17) All counties 56,434 88,478 Phoenix 12,285 24,346 Scottsdale 4,309 5,459 Paradie Valley 174 255 This is just MLS and does not include Trustee sales, Auctions or FISBOS. Phoenix MLS had 25,773 in 2004 and 26,615 in 2005. Not all cities are created equal:

2008 (12/17) 2009 (12/17)
All counties 56,434 88,478
Phoenix 12,285 24,346
Scottsdale 4,309 5,459
Paradie Valley 174 255

This is just MLS and does not include Trustee sales,
Auctions or FISBOS.

Phoenix MLS had 25,773 in 2004 and 26,615 in 2005.

]]> By: Will Daly http://www.weknowurban.com/blog/2009/12/why-is-real-estate-inventory-down-sales/comment-page-1/#comment-1862 Will Daly Tue, 15 Dec 2009 06:27:11 +0000 http://www.weknowurban.com/blog/?p=1699#comment-1862 Brandon - I don't disagree with the inflation comments and you may be right in stating that the increase in sales is due to the tax incentive and investors. However, I must say that I have sold several homes recently and the buyers were not overly motivated by the tax incentive nor were they investors. So, in my experience, a portion of buyers are folks just looking for a place to live. Oh, and I also agree that buyers today should look at living in the property for some time, I don't know what that means in years, but I am not a fan of flipping houses, never have been. W Brandon – I don’t disagree with the inflation comments and you may be right in stating that the increase in sales is due to the tax incentive and investors. However, I must say that I have sold several homes recently and the buyers were not overly motivated by the tax incentive nor were they investors. So, in my experience, a portion of buyers are folks just looking for a place to live. Oh, and I also agree that buyers today should look at living in the property for some time, I don’t know what that means in years, but I am not a fan of flipping houses, never have been. W

]]> By: managedforexaccounts http://www.weknowurban.com/blog/2009/12/why-is-real-estate-inventory-down-sales/comment-page-1/#comment-1855 managedforexaccounts Sat, 12 Dec 2009 04:03:45 +0000 http://www.weknowurban.com/blog/?p=1699#comment-1855 interesting to see the parallels between the US property market and UK market. i would say things have got worse at the tail end of this year, rather than better. it's definitely still a buyers market, with bargain basement prices to be had. interesting to see the parallels between the US property market and UK market. i would say things have got worse at the tail end of this year, rather than better. it’s definitely still a buyers market, with bargain basement prices to be had.

]]> By: brandon adamson http://www.weknowurban.com/blog/2009/12/why-is-real-estate-inventory-down-sales/comment-page-1/#comment-1854 brandon adamson Fri, 11 Dec 2009 01:50:41 +0000 http://www.weknowurban.com/blog/?p=1699#comment-1854 The sales are up because the government is bribing people $8,000 to buy houses. It's a temporary artificial inflation. That and cash investors are buying up cheap places and downgrading condo conversions back into apartments. When the tax credit expires and the artificial incentives are removed we can get an accurate look at where the market actually is. We may start to see with hyperinflation prices skyrocket, but the value will be the same. Inventory is down because the banks have slowed down foreclosing on people, and because everyone KNOWS it's not a good time to sell. I have a friend who lost his job well over a year ago. The bank has yet to foreclose on him and actually reduced his payments IN HALF, to the point where he is able to afford to make payments using just his unemployment checks...and even then only every couple months. Unemployed, for almost two years he has been able to stay in his house paying 700 every other month as opposed to the 1500 per month he had been paying. What about all the people who have been surviving on unemployment the past year? Those benefits will end eventually. How many others in the same boat? Who knows. Now is a pretty good time to buy because of the low interest rates and the tax credit, both of which will not last. But be prepared to be stay there a long time. If the market were genuinely improving then one would be talking about what a great time to sell it is. The sales are up because the government is bribing people $8,000 to buy houses. It’s a temporary artificial inflation. That and cash investors are buying up cheap places and downgrading condo conversions back into apartments. When the tax credit expires and the artificial incentives are removed we can get an accurate look at where the market actually is. We may start to see with hyperinflation prices skyrocket, but the value will be the same. Inventory is down because the banks have slowed down foreclosing on people, and because everyone KNOWS it’s not a good time to sell.

I have a friend who lost his job well over a year ago. The bank has yet to foreclose on him and actually reduced his payments IN HALF, to the point where he is able to afford to make payments using just his unemployment checks…and even then only every couple months. Unemployed, for almost two years he has been able to stay in his house paying 700 every other month as opposed to the 1500 per month he had been paying. What about all the people who have been surviving on unemployment the past year? Those benefits will end eventually. How many others in the same boat? Who knows.

Now is a pretty good time to buy because of the low interest rates and the tax credit, both of which will not last. But be prepared to be stay there a long time.

If the market were genuinely improving then one would be talking about what a great time to sell it is.

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