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Renting in Mass
Joined: 26 Jun 2008
Posts: 381
Location: In a house I bought in December 2011
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admin
Site Admin
Joined: 14 Jul 2005
Posts: 1826
Location: Greater Boston
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 Posted: Thu Oct 01, 2009 2:24 pm GMT Post subject: |
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They also have posts each month highlighting the neighborhoods where homes sold at the biggest discount and the neighborhoods with the greatest price reductions. That just strikes me as far more friendly to buyers than the typical cherry picking of pockets where prices went up. As a potential buyer, lower prices are good - it's a simple concept, but it's amazingly rare to hear it from the salesmen.
I wish they had graphed out the tiered indexes for Boston in the post that you linked to because it totally supports their point about the $8K tax credit distorting the market. I've got it covered, though:
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balor123
Joined: 08 Mar 2008
Posts: 1204
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| Posted: Fri Oct 02, 2009 12:05 am GMT Post subject: |
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| admin wrote: | They also have posts each month highlighting the neighborhoods where homes sold at the biggest discount and the neighborhoods with the greatest price reductions. That just strikes me as far more friendly to buyers than the typical cherry picking of pockets where prices went up. As a potential buyer, lower prices are good - it's a simple concept, but it's amazingly rare to hear it from the salesmen.
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That's because they know most buyers consider a house a investment and not a place to live. You buy things you need when they go on sale. You generally wouldn't want to buy investments that have gone down in value (value investors are selective about what they purchase). Typical buyer doesn't know how to estimate the future potential growth for a property except by Newton's law of motion, that what goes up must continue to go up, which is essentially momentum investing which is known to cause bubbles and for investments is a terrible indicator of future performance. Hence, unless buyers either start to treat housing like a place to live or become more sophisticated investors, both unlikely,
then we are doomed to continue with an inflated cost of living in this country and future booms and busts in real estate. Sadly, not much the rest of us can do except do the opposite of what is typically advised and what you would do when buying anything else for utilitly value - buy as little house as possible. |
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Guest
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| Posted: Sat Oct 03, 2009 4:57 am GMT Post subject: |
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| admin wrote: | They also have posts each month highlighting the neighborhoods where homes sold at the biggest discount and the neighborhoods with the greatest price reductions.
- admin |
That sure is nice, except when the data is completely wrong:
http://forums.redfin.com/rf/board/message?board.id=Boston&thread.id=1197 |
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admin
Site Admin
Joined: 14 Jul 2005
Posts: 1826
Location: Greater Boston
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| Posted: Sat Oct 03, 2009 4:20 pm GMT Post subject: |
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| Anonymous wrote: |
That sure is nice, except when the data is completely wrong:
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That's interesting. The complaint seems to be that their monthly blog post for August listed Wayland as being discounted by 8.7% but that their larger list of Boston neighborhoods listed Wayland as being discounted by 3.9% (that stat is now empty, as of this writing). I thought at first that it was probably just a difference in the time period covered, but looking at their page specifically for Wayland, scrolling down to the "Wayland Market Trends" chart, and selecting just sale-to-list % does produce contradictory results. Perhaps their monthly blog only uses the list price of homes that actually sold whereas the "Market Trends" chart uses the list price for all offered properties. I'll ask.
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admin
Site Admin
Joined: 14 Jul 2005
Posts: 1826
Location: Greater Boston
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| Posted: Sat Oct 03, 2009 4:29 pm GMT Post subject: |
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My comment is awaiting moderation. Here it is just in case they don't notice it:
| Quote: |
Someone in your forums asked a question about this post which I’m curious about now too:
http://forums.redfin.com/rf/board/message?board.id=Boston&thread.id=1197
You have Wayland listed above as having an 8.7% discount, but if you go to your page for just Wayland at http://www.redfin.com/city/29624/MA/Wayland , scroll down to the “Wayland Market Trends” chart, select just sale-to-list %, and adjust the time frame to clearly show July, the sale-to-list % is above 96.5% for the whole month. Where’s the difference coming from? Is this blog post only using the list price for homes that sold while the chart is using the list price for everything offered?
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