Market Perspective from Twitter

Or … the Charlottesville market’s not so bad … read this conversation from Twitter yesterday. Bolding mine.

I said – I wish I could search the MLS based on difference between how much seller’s asking and what they owe.

Pattyhop: @JimDuncan Do you think there is a correlation between what’s owed and accepted? Are you talking about short sales or “real” people?
JimDuncan @Pattyhop The differential is a possible sign of a seller’s motivation – and *ability* to sell.

Pattyhop: @JimDuncan True, if it’s a “real” seller. In my market we only have about 10-15% of those, the rest are short sales or REO’s.

Wow. Absolutely wow.

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2 Comments

  1. Julie Emery January 17, 2009 at 16:12

    I’ve shown less than five homes in the last two months that were not REOs or short sales. At the lower price ranges there is nothing else. At the higher price ranges there are some but they are not competitively priced so we still end up only looking at the REOs or short sales. I’m shocked to show a house that actually has people living in it these days.

    Reply
  2. Mark January 18, 2009 at 19:13

    I tour houses every other week to review them in the Hook. I search MyCAAR and sort by “Newest First.” Last week when I did this, I was astounded by the number of new listings with unrealistic asking prices. Why do they bother listing them?

    Reply

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