FS Homes bunched together?

B

buylowsellhigh_IHB

New member
Quick question. I've been noticing more and more, that for sale homes are usually bunched together in a concentrated mass. Is there a clear cut reason to this or is it a coincidence? The locations are... Alevera St in Oak Creek, Danbury in Oak Creek... Unusually high concentrations. And then theres the new northpark on the corner of jeffrey/bryan. To me, a bunch of competing sellers mean better pricing for buyer, but maybe there is a reason for that. Is this a sign that the pricing for this particular neighborhood will drop faster than others?
 
<p>They tend to bunch them together b/c in most communities. The "main" streets has more visibility. So all the agents want the prime location for their signage. location location location. Hahaha</p>
 
I agree with Effenheimer's thought above. Or, also there's a lot of people who are listing just to test the market and see how much they could possibly get. They're listing not because they might need to sell, but because their neighbor is listing and if they could get that same price, then they'd consider selling. Maybe?
 
I've seen all the For Sale signs on Alevera St, and it just looks ugly. There must be around 6-7 signs... if you are a potential buyer, you gotta be wondering why everyone wants to sell, while you would be moving into the neighborhood.
 
sportsfan8, thats precisely my question! Way too many homes being sold in the same neighborhood to be a coincidence...





On Redfin, Alevera street is just NUTS.. Or... Danbury in Oak Creek. Or... Seasons in Quail hill. (Those 3BR Condos)





Still trying to figure out why they do that.





Or whats wrong with the neighborhood.





Or whats wrong with the market.
 
You guys are seeing the panic at the low end spread from small condos to the larger units. These starter home type units were bid up way too high, and now the people want to bail. Unfortunately, there are no buyers, particularly now that credit has dried up.





Real estate markets collapse from the bottom up.
 
<p>That happened recently in my townhome complex (not in Irvine though). There are 260 units total, 10-20 set aside as rentals forever, and out of the rest, 9 were for sale at once last month. The for sale signs as you drove in were so bunched together it was hard to even read them. I was amused when there were I think 7 signs out front and I took a picture. (I need to upload that somewhere one of these days.) </p>

<p>There are still 4-5 for sale now. These are 3-4 bedroom townhouses.</p>
 
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