info on "bungalows @ seagrove"
- Thread starter bdc63
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I don't get it.
Its my understanding that the market started "softening" last year ... increasing volume for sale and deceasing prices.
2 units sold in this community last year for $242K and $285K.
17 units are currently on the market and are listed for a range of $380K to $540K.
So that's an increase of between 57% and 123% from 11/22/05 ... 8 months later in a down market.
What the heck am I missing?
(Shelley, please don't tell me that it's because the higher priced units have granite counter tops)
Its my understanding that the market started "softening" last year ... increasing volume for sale and deceasing prices.
2 units sold in this community last year for $242K and $285K.
17 units are currently on the market and are listed for a range of $380K to $540K.
So that's an increase of between 57% and 123% from 11/22/05 ... 8 months later in a down market.
What the heck am I missing?
(Shelley, please don't tell me that it's because the higher priced units have granite counter tops)
bdc63 said:I don't get it.
Its my understanding that the market started "softening" last year ... increasing volume for sale and deceasing prices.
2 units sold in this community last year for $242K and $285K.
17 units are currently on the market and are listed for a range of $380K to $540K.
So that's an increase of between 57% and 123% from 11/22/05 ... 8 months later in a down market.
What the heck am I missing?
The only word that matters is "sold".
bdc63 said:I don't get it.
Its my understanding that the market started "softening" last year ... increasing volume for sale and deceasing prices.
2 units sold in this community last year for $242K and $285K.
17 units are currently on the market and are listed for a range of $380K to $540K.
So that's an increase of between 57% and 123% from 11/22/05 ... 8 months later in a down market.
What the heck am I missing?
Here's the disconnect: An increase in "ASKING" prices is meaningless---that's why there are 17 units rotting on the vine.
My '65 Rambler Wagon has an "asking" price of $50,000--I'm planning on pimping it out with a granite dashboard....so I guess the market for '65 Ramblers is hot...no?? (P.S. I've had no offers since I put it on the market--wonder what's up with that?
)
245k and 285k
were pre-construction prices,
in the mean time recent sales from public records are as follows:
375k unit #114 01-31-06
375k unit #116 01-31-06
385k unit #144 04-20-06
these prices will be used as comps for the next sale..........
I hope this answers your question.
joho
were pre-construction prices,
in the mean time recent sales from public records are as follows:
375k unit #114 01-31-06
375k unit #116 01-31-06
385k unit #144 04-20-06
these prices will be used as comps for the next sale..........
I hope this answers your question.
joho
Thanks joho for the clarification. You have been very helpful. Are you an agent by chance?
Cork On the Ocean
directionally challenged
I'm showing to recent sales at $495K and 15 active units. Haven't found anything on the units in the 200's but it's not unusual for them not to put original developer units in the MLS and haven't spent a lot of time researching the public records but here's the 2 sales and 15 actives.
http://ecarmls.com/EmeraldReports/listings.asp?ID=77067139
http://ecarmls.com/EmeraldReports/listings.asp?ID=77067139
cork..............
The two sales you are using closed last year.
Unit #107 contract date 2-28 05 closed date 12-26-05 $495k
Unit #156 contract date 3-29-05 closed date 12-28-05 $495k
That was back at the "top of the curve"
The most recent sales is where the market is at this time..........
To answer bdc63 question:
Yes I do have my license (like everybody else)
but I also research data and work very closely with an appraisal firm in the area.
Have a great weekend cork and bdc63.........................
joho
The two sales you are using closed last year.
Unit #107 contract date 2-28 05 closed date 12-26-05 $495k
Unit #156 contract date 3-29-05 closed date 12-28-05 $495k
That was back at the "top of the curve"
The most recent sales is where the market is at this time..........
To answer bdc63 question:
Yes I do have my license (like everybody else)
but I also research data and work very closely with an appraisal firm in the area.
Have a great weekend cork and bdc63.........................
joho
It's been a month since I looked at this community in the mls, so I decide to take a look today ... not sure if anyone else on this board really cares, but I find the data quite interesting.
None of the 17 properties (about 1/2 of the community) have been removed from the mls, and one has been added at $525K. The previous price range was $379K to $539.9K, and now the range is $355.9K to $539.9. Five properties dropped prices since July 9th, as follows:
Unit old price new price
114.....$437K......$355.9K (down $81.1K or 18.5%)
116.....$437K......$355.9K (down $81.1K or 18.5%)
110.....$399.9.....$359.9 (down $40K or 10%)
143.....$379........$359.9 (down $19.1K or 5%)
149.....$450........$399.9 (down $50K or 11%)
None of the 17 properties (about 1/2 of the community) have been removed from the mls, and one has been added at $525K. The previous price range was $379K to $539.9K, and now the range is $355.9K to $539.9. Five properties dropped prices since July 9th, as follows:
Unit old price new price
114.....$437K......$355.9K (down $81.1K or 18.5%)
116.....$437K......$355.9K (down $81.1K or 18.5%)
110.....$399.9.....$359.9 (down $40K or 10%)
143.....$379........$359.9 (down $19.1K or 5%)
149.....$450........$399.9 (down $50K or 11%)
