Comments on: Where are buyers getting the biggest discounts?

By: Biggest Discounts February Update | Redfin San Diego Sweet Digs

Biggest Discounts February Update | Redfin San Diego Sweet Digs — Wed, 11 Feb 2009 06:22:53 +0000

[...] overall discount for the San Diego area went back up to 4.3%, just above where it was in December, indicating either an increase in the willingness of sellers to bargain with buyers, or a decrease [...]

By: JasonJ

JasonJ — Thu, 08 Jan 2009 06:38:00 +0000

I agree with Anir,

In the low end there are REOs out there that can be rented for more than a mortgage would be on them. From what I am hearing, these are getting multiple offers, keeping the selling price close to the list.

By: Biggest Discounts December Update | Redfin San Diego Sweet Digs

Biggest Discounts December Update | Redfin San Diego Sweet Digs — Fri, 02 Jan 2009 21:05:45 +0000

[...] overall discount for the San Diego area decreased significantly from 4.1% last month to just 1.9% this month, indicating either a decrease in the willingness of sellers to bargain with [...]

By: Anir

Anir — Sun, 28 Dec 2008 01:32:13 +0000

Could it be that the areas that had the least price reductions were areas with the most REO’s?
Think about it. These areas with bank owned listings are price 5 % bellow comps to begin with, banks are non-emotional at the negotiating table and when people make an offer at an REO property they know that the bank will take it’s time getting back to them, in that process other offers will come in and if they do a very low offer chances are they will loose the property. If they really want this home they will offer close to full price if not more.
The areas that came out to be the softest markets are areas with less bank owned properties and the homeowners tend to price their homes too high. Many Real Estate Agents will allow their clients to determine the asking price based on what the client would like to hear and not on where the market actually is at that moment doing everyone a disservice.

By: Where are buyers getting the biggest discounts?

Where are buyers getting the biggest discounts? — Tue, 23 Dec 2008 05:04:47 +0000

[...] While the number and speed of price reductions is certainly interesting information (to some), what really matters to folks out there in the market right now is the size of price reductions. Better yet, how receptive are sellers to accepting an offer below their asking price? Let’s get down to the nitty gritty. Where are buyers currently getting the biggest discount off the asking price in the San Diego area? Knowing which neighborhoods are softer in terms of sale price discounts off list price will better equip you when making an offer. In the charts below, we have taken all sales data from the last three months in Redfin’s San Diego coverage area and sorted it by zip code. We calculated the overall difference between the sale price and the list price. Note that this reflects the final list price, after all price drops in the listing. […]For the full post go here. [...]

By: Tim Ellis

Tim Ellis — Wed, 17 Dec 2008 17:01:16 +0000

Thanks haydesigner. That’s weird. I could swear it was there when I posted.

By: haydesigner

haydesigner — Wed, 17 Dec 2008 16:35:00 +0000

Your second graphic is missing.