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  1. #21501
    Join Date
    Sep 2006
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    6,519
    Quote Originally Posted by alias_rice View Post
    I’ve noticed open houses popping up again in my neck of the woods. They used to be pointless as sellers would have more than enough offers within a week without the hassle of an open house. Maybe Utah is finally starting to cool down a bit.
    Same here - We went to one a few weeks ago, because it was walking distance from our house. Normally this house would have had offers w/o the need for an open house. Asking price was $1.695million. The next week, we see it posted again with an open house. Seeing lots of multiple open houses on homes in that $1mil-$2mil range that apparently aren't getting the multi above asking offers like last year.

    I keep seeing that word "stagflation" thrown around a lot lately.
    "We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch

  2. #21502
    Join Date
    Jan 2008
    Posts
    7,602
    Quote Originally Posted by Mazderati View Post
    https://www.redfin.com/MA/Beverly/15...5/home/8215841



    I'd need to find a younger wife to traipse down the stairs in bikini, heels, and robe before the current wife finds a younger husband to do the same in a banana hammock.
    Hey, a place on Paine ave for less than 10MM is a steal!

    Just saw this one on the market. my neighbor's "team" is the listing agent on it apparently.
    https://www.realtor.com/realestatean...5_M92607-14886

  3. #21503
    Join Date
    Oct 2003
    Location
    Seattle
    Posts
    24,730
    Quote Originally Posted by Toadman View Post
    Same here - We went to one a few weeks ago, because it was walking distance from our house. Normally this house would have had offers w/o the need for an open house. Asking price was $1.695million. The next week, we see it posted again with an open house. Seeing lots of multiple open houses on homes in that $1mil-$2mil range that apparently aren't getting the multi above asking offers like last year.
    I think more open houses probably means fewer offers AND realtors needing to drum up business.

  4. #21504
    Join Date
    Mar 2008
    Location
    northern BC
    Posts
    26,903
    an RE agent told me they had never sold a house at any open house they had ever staged

    but they meet a lot of new tire kicking customers to whom they did sell the house

    wander into an open and the first thing they will ask " do you have an agent you are working with ? "
    Lee Lau - xxx-er is the laziest Asian canuck I know

  5. #21505
    Join Date
    Dec 2010
    Location
    Last Best City in the Last Best Place
    Posts
    5,381
    Quote Originally Posted by XXX-er View Post
    an RE agent told me they had never sold a house at any open house they had ever staged
    We bought ours after seeing it as an open house. Fell in love with the view. Of course it was 2010 and had been on the market 2 years with several price reductions. Then we came in with an offer 50k below asking and they took it.

    I think well see a ton of overpriced houses hit the market in the next couple months as everybody hopes to find one last sucker to pay a stupid price.

  6. #21506
    Join Date
    Sep 2005
    Location
    PRB
    Posts
    28,168
    My house sold to someone who came to our open house.
    "fuck off you asshat gaper shit for brains fucktard wanker." - Jesus Christ
    "She was tossing her bean salad with the vigor of a Drunken Pop princess so I walked out of the corner and said.... "need a hand?"" - Odin
    "I'd eat a bag of Dicks and wash it down with a Coke any day." - iceman

  7. #21507
    Join Date
    Nov 2003
    Location
    none
    Posts
    7,806
    I’ve heard that a few times.
    I went to an open house that I liked the house, but not the lot. I later met the builder and he had five others, one that I did buy.

  8. #21508
    Join Date
    Mar 2008
    Location
    northern BC
    Posts
    26,903
    well that^^ was a sample size of 1 agent

    I bought this place in 2010, a 30K discount no takers on a FSBO that had been on the market 5 months

    I wana thank y'all down thar for shitting the bed and causing the credit swap crisis which depressed everything enough so i could get back in the market

    now its worth double but where would I live and besides it produces revenue and come with a gardener
    Lee Lau - xxx-er is the laziest Asian canuck I know

  9. #21509
    Join Date
    Aug 2016
    Location
    关你屁事
    Posts
    6,735
    It’s also an “I’m doing something” signal to the client if the place ain’t moving. Source n>1 sellers who feel better

  10. #21510
    Join Date
    Mar 2008
    Location
    northern BC
    Posts
    26,903
    And its less confrontational than saying " this dump ain't movin cuz your price is too high " and if you have a nicely appointed liviving room what a great place to return calls and do RE agent administrivia whilst wearing a nice suit !

    or just play wordle
    Lee Lau - xxx-er is the laziest Asian canuck I know

  11. #21511
    Join Date
    Apr 2012
    Location
    Stumptown
    Posts
    8,020
    The "do you have an agent?" question also changes how they agent can talk to you. If you have an agent already their fiduciary duties change slightly (at least in Oregon where you can represent both the buyer and seller in a deal).

  12. #21512
    Join Date
    Mar 2008
    Location
    the ham
    Posts
    11,327
    SOP at my wife's firm was a junior agent does the open to 1. help them meet potential clients, and 2. possibly keep both sides of the deal in house. That latter point was big, because dual-agency was verboten at that brokerage. The group text went out every Thursday.

    My wife never sold the house she was doing the open at - and she did a lot of them - but she did pick up clients.

  13. #21513
    Join Date
    Dec 2002
    Location
    cow hampshire
    Posts
    7,033
    I looked at a tear down for 795. It's way overpriced. No realtor, so she's winging it. It's her mother's house. The fucked up part is I'd be in for 5 if she took it.

  14. #21514
    Join Date
    Jun 2020
    Location
    in a freezer in Italy
    Posts
    5,097
    Does she know it's a teardown?

  15. #21515
    Join Date
    Sep 2006
    Posts
    6,519
    We have had a house sell that someone came to our open house and we have purchased a house that we saw during a open house event.
    "We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch

  16. #21516
    Join Date
    May 2008
    Location
    GRRD
    Posts
    2,227
    I found this interesting



    and then this guy put a different spin on it


  17. #21517
    Join Date
    Dec 2002
    Location
    cow hampshire
    Posts
    7,033
    Quote Originally Posted by ötzi View Post
    Does she know it's a teardown?
    No, I don't think she does. It's liveable for an old lady maybe or a dirtbag ski bum. The roof leaked or leaks. Mold or mildew in ceiling sheetrock and just kinda falling apart everywhere. It's an old cottage with a small janky addition put on 30 yrs ago. The thing is it's 500yds from the sand on a super quiet street.

  18. #21518
    Join Date
    Dec 2008
    Location
    Vacationland
    Posts
    5,211
    [QUOTE=jackstraw;6618968The thing is it's 500yds from the sand on a super quiet street.[/QUOTE]

    You said sand


    Sent from the Utility Muffin Research Kitchen

  19. #21519
    Join Date
    Aug 2006
    Posts
    7,345
    The boating forum I also frequent is starting to perk up with talk of boats sitting on lots and dealers being willing to give substantial discounts of MSRP to buy. RV dealer near me has a lot at max capacity.

    I'm thinking the peak has happened. With interest rates up the easy HELOC and refi money is gone. I would not want to buy a house now and get stuck with a 5.5 mortgage and peak prices.
    Live Free or Die

  20. #21520
    Join Date
    Sep 2006
    Posts
    6,519
    Latest RE #'s;

    Leading indicators of homebuying activity:
    Fewer people searched for “homes for sale” on Google—searches during the week ending May 14 were down 11% from a year earlier.
    The seasonally-adjusted Redfin Homebuyer Demand Index—a measure of requests for home tours and other home-buying services from Redfin agents—was down 8% year over year during the week ending May 15. This was the largest decline since April 2020 when the pandemic paused most homebuying activity.
    Touring activity from the first week of January through May 15 was 25 percentage points behind the same period in 2021, according to home tour technology company ShowingTime.
    Mortgage purchase applications were down 15% from a year earlier, while the seasonally-adjusted index decreased 12% week over week during the week ending May 13.
    For the week ending May 19, 30-year mortgage rates decreased slightly to 5.25%.
    The median home sale price was up 16% year over year to a record $398,500.
    The median asking price of newly listed homes increased 18% year over year to $416,425, a new all-time high.
    Unless you absolutely have to move, probably a good time to chill and watch things unfold.
    "We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch

  21. #21521
    Join Date
    Dec 2009
    Location
    The Mayonnaisium
    Posts
    9,467
    Talked to an agent this morning who said in passing, 'the market is shifting.' She noted buyers are not as willing to waive inspections, contingencies, etc. recently.

  22. #21522
    Join Date
    Jun 2020
    Location
    in a freezer in Italy
    Posts
    5,097
    Lots more listings around here on Zillow than recently - my take is that people are feeling the top or worried they missed it already and are worried about the downside of the curve. I sure wouldn't buy anything right this minute here, prices still seem aspirational to me.

  23. #21523
    Join Date
    Mar 2006
    Posts
    18,636
    Quote Originally Posted by Mazderati View Post
    Talked to an agent this morning who said in passing, 'the market is shifting.' She noted buyers are not as willing to waive inspections, contingencies, etc. recently.
    It’s never slowing down. Maybe they should use transitory?

  24. #21524
    Join Date
    Mar 2006
    Location
    Beaverton, OR
    Posts
    1,171
    Quote Originally Posted by ötzi View Post
    Lots more listings around here on Zillow than recently - my take is that people are feeling the top or worried they missed it already and are worried about the downside of the curve. I sure wouldn't buy anything right this minute here, prices still seem aspirational to me.

    March thru May is typically the peak times to list your home for sale. I noticed the same thing around my area this past friday, but without actual stats blew it off thinking its the week before Memorial day and perhaps will be the yearly peak for listings. If people start bombarding the market in June and beyond its probably unnatural and a signal to people panicking to try to sell "at the top".

    All IMHO of course.

  25. #21525
    Join Date
    May 2008
    Location
    On a genuine ol' fashioned authentic steam powered aereoplane
    Posts
    15,121
    Quote Originally Posted by jackstraw View Post
    No, I don't think she does. It's liveable for an old lady maybe or a dirtbag ski bum. The roof leaked or leaks. Mold or mildew in ceiling sheetrock and just kinda falling apart everywhere. It's an old cottage with a small janky addition put on 30 yrs ago. The thing is it's 500yds from the sand on a super quiet street.
    I think deals may start to be had for the persistent. Some people are still throwing crazy numbers like it's June 2021 and then the houses sit. Some of these sellers may be more desperate for cash than you think. If it sits long enough and she doesn't pull the listing someone might actually snag a deal. Don't know if you don't offer.

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