{"id":515,"date":"2006-10-06T06:34:31","date_gmt":"2006-10-06T13:34:31","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=515"},"modified":"2006-10-06T06:34:35","modified_gmt":"2006-10-06T13:34:35","slug":"which-houses-will-sell-local-market-is-slow-but-not-on-life-support","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/515\/which-houses-will-sell-local-market-is-slow-but-not-on-life-support\/","title":{"rendered":"Which houses will sell?: Local market is slow but not on life support . . ."},"content":{"rendered":"

This is me from this morning’s Arizona Republic<\/i><\/a>, a kinder, gentler, less incendiary Greg. (Permanent link<\/a>.) That marks a year of these columns, 52 on the nose. To tell the truth, I expected to get fired a long time ago. But, if they’re not going to fire me, I wish they’d give me more space. At 350 words I have just enough room to introduce an idea without quite exploring it…<\/p>\n

 
Local market is slow but not on life support<\/b><\/p>\n

The nationally reported real estate news is dire, of course — bad news trumps good news.<\/p>\n

The locally reported real estate news is largely defined by year-over-year comparisons, which tends to make things look worse than they really are. Is our market in excellent shape? Far from it. But neither should it be put on life support.<\/p>\n

For the kinds of homes common on the west side of the Valley, September was a repeat of August, itself a repeat of July. Prices flat, sales slow but not awful, discounting moderate. Days on market is climbing, but available inventories of newer suburban homes are declining. (You can read more about these results at bloodhoundrealty.com\/MarketBasket.php<\/a>.)<\/p>\n

But as interesting as those results are — and as promising for the recovery of our market — they speak only of sold homes. What about the homes that are not selling?<\/p>\n

I’m looking at houses right now for an investor. He picked out one he was interested in, and, as a matter of course, I searched every similar listing in that subdivision — active, pending and sold — going back to May.<\/p>\n

I found 10 active listings with that floor plan in that subdivision. This is as close as you can get to identical comps, like little plastic Monopoly houses, each one the twin of the next.<\/p>\n

All of them were built between 2002 and 2004, all by the same builder, of course. All upgraded to some degree, none to the ultimate degree. No premium lots, no view lots, no pools.<\/p>\n

What’s the spread of prices for these nearly identical homes? They run from $245,000 to $360,000, a difference of $115,000.<\/p>\n

Which ones will sell?<\/p>\n

The best-kept houses Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

This is me from this morning’s Arizona Republic, a kinder, gentler, less incendiary Greg. (Permanent link.) That marks a year of these columns, 52 on the nose. To tell the truth, I expected to get fired a long time ago. But, if they’re not going to fire me, I wish they’d give me more space. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[6,5],"tags":[],"class_list":{"0":"post-515","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-marketing","7":"category-real-estate","9":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":2826,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2826\/in-the-metropolitan-phoenix-real-estate-market-our-long-slow-slide-in-home-prices-is-finally-encountering-demand\/","url_meta":{"origin":515,"position":0},"title":"In the Metropolitan Phoenix real estate market, our long, slow slide in home prices is finally encountering demand","author":"Greg Swann","date":"March 24, 2008","format":false,"excerpt":"This is my column for this week from the Arizona Republic (permanent link): \u00a0In the Metropolitan Phoenix real estate market, our long, slow slide in home prices is finally encountering demand If you've been looking for the bottom of the Phoenix real estate market, it might well be upon us.\u2026","rel":"","context":"In "Investment"","block_context":{"text":"Investment","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/investment\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":510,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/510\/business-is-slow-at-the-arizona-business-blogs\/","url_meta":{"origin":515,"position":1},"title":"Business is slow at the Arizona Business Blogs . . .","author":"Greg Swann","date":"October 5, 2006","format":false,"excerpt":"In the \"Don't Hate Me Just Because I'm Pitiful\" sweepstakes, The Arizona Republic invites us to visit their brand new \"Arizona Business Blogs\". They're not new, but that hardly matters. First, there is no link to the not-new \"Arizona Business Blogs\" in the on-line article. Second, although there is a\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2170,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2170\/its-a-great-time-to-buy-but-this-time-for-different-reasons\/","url_meta":{"origin":515,"position":2},"title":"“It’s A Great Time To Buy!” — But This Time, For Different Reasons","author":"Dan Green","date":"November 6, 2007","format":false,"excerpt":"You hang around enough real estate agents, and you start to understand why \"it's a great time to buy real estate\". The reasons are many: \"You get terrific tax deductions.\" \"Long-term, real estate is a fantastic investment.\" \"With so much product available, you'll be able to set your price.\" \"This\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1593,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1593\/new-homes-sales-market-slowdowns-and-investor-irrationality-looks-like-its-time-to-face-a-correction\/","url_meta":{"origin":515,"position":3},"title":"New Homes Sales, Market Slowdowns, and Investor Irrationality: Looks like its Time to Face a Correction","author":"Cooksquared","date":"June 28, 2007","format":false,"excerpt":"Tanking new homes sells should have real estate flippers and small investors worried. Today KB Homes reported a loss of $149 Million. Additionally, CEO Jeffrey Mezger remarked in the Wall Street Journal, \"We can't predict when market conditions will improve,\" essentially ensuring investors conditions will not improve next quarter. Homebuilders\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3820,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3820\/theres-more-to-the-mortgage-relief-bill-than-just-mortgage-relief\/","url_meta":{"origin":515,"position":4},"title":"There’s more to the mortgage relief bill than just mortgage relief","author":"Greg Swann","date":"August 9, 2008","format":false,"excerpt":"This is my column for this week from the Arizona Republic (permanent link). Notes for insiders: The legislative thumbprint of the National Association of Realtors is churn. The NAR is not necessarily for or against any legislation. Instead, their lobbyists will look for ways to introduce short-term incentives to churn\u2026","rel":"","context":"In "Investment"","block_context":{"text":"Investment","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/investment\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":230,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/230\/the-carnival-of-real-estate-4\/","url_meta":{"origin":515,"position":5},"title":"The Carnival of Real Estate . . .","author":"Greg Swann","date":"August 21, 2006","format":false,"excerpt":"...is up at The Pine Needle Lawn. Sorry to be so late saying so, but this dreadfully slow real estate market has us coming and going... We're also featured in this week's Carnival of Business. And: We have decided that when we host the Carnival of Real Estate (deadline October\u2026","rel":"","context":"In "Blog Carnivals"","block_context":{"text":"Blog Carnivals","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blog-carnivals\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/515","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=515"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/515\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=515"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=515"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=515"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}