Geotpf_IHB
New member
[quote author="Roo" date=1245155253][quote author="Geotpf" date=1245113274][quote author="gray4gray" date=1245112034]Have you looked at any of the short sales in Big Canyon? The prices have dropped there too.</blockquote>
Pricing on short sales, along with everything else related to them, is mostly fictional, IMHO. Unless one closes, take said prices with a grain of salt.</blockquote>
I don't entirely agree with this. They can tell where and how far/fast the market is going.</blockquote>
I will even expand on this a bit. All asking prices are useless, including REOs and traditional sales. Look at sold comps only.
Frequently, conventional sales are priced too high. Sometimes, REOs are priced too low to get a bidding war going. Short sales are usually priced too low, sometimes too high, but it doesn't matter since they almost never sell anyways.
Pricing on short sales, along with everything else related to them, is mostly fictional, IMHO. Unless one closes, take said prices with a grain of salt.</blockquote>
I don't entirely agree with this. They can tell where and how far/fast the market is going.</blockquote>
I will even expand on this a bit. All asking prices are useless, including REOs and traditional sales. Look at sold comps only.
Frequently, conventional sales are priced too high. Sometimes, REOs are priced too low to get a bidding war going. Short sales are usually priced too low, sometimes too high, but it doesn't matter since they almost never sell anyways.