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HAVE YOU SEEN THE LAST FIGURES FROM TRULIA?

By Sharon Senger

Services for Real Estate Pros with tcDocs

June 11, 2009 03:03 AM

According to Trulia "nearly 1 in 4 homes currently for sale have had their price cut at least once - for a shocking total of $27.4 billion off original list prices (that's more than the GDP of El Salvador)! So what does that mean for Joe Home-buyer? It means he (and you) can probably get a great house for a much lower price than one might expect with just a little research and negotiation."

Here are the numbers that Trulia have just issued:

Percent of current listings with price reductions
1) Jacksonville, FL - 36%	7) Honolulu, HI - 31%
2) Tucson, AZ - 32%	8) Minneapolis, MN - 31%
3) Boston, MA - 32%	9) Austin, TX - 30%
4) Los Angeles, CA -32%	10) Washington, DC - 30%
5) Columbus, OH - 31%	11) Baltimore, MD - 30%
6) Dallas, TX - 31%	12) Las Vegas, NV - 30%

Puzzle Hand Remember your online Real Estate Assistant is an important member of your Team!

Sharon

Source: Trulia 6/11/2009

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Joanne O'Donnell

Chic Home Interiors - Oakland, CA

Sharon, it also means these home sellers should be staging the homes to stave off that reduction!

Jun 11, 2009 03:10 AM

Sharon Senger

tcDocs - Seattle, WA

Licensed Transaction Coordinator

Joanne, a staged home is always a great idea!

Thanks for the comment.

Jun 11, 2009 03:14 AM

Donna Harris

Donna Homes, powered by JPAR - TexasRealEstateMediationServices.com - Austin, TX

Realtor,Mediator,Ombudsman,Property Tax Arbitrator

But what the numbers don't show is that these numbers aren't coming down off "market value", but they're coming down off unrealistic sellers and their agents who are allowing them to price way too high to begin with. If a $300k house is coming down 30%, it was never a $300k house to begin with, it's a $200k house which is a completely different buyer, and it probably would have sold at the correct price with no problems.

Jun 11, 2009 03:41 AM

Donna interesting how statastics sometimes do not always show the big picture Thank you for commenting Sharon

Jun 11, 2009 04:32 AM

Li Read

Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC

Caring expertise...knowledge for you!

Well, that is interesting....I live in an area of Canada that is a discretionary home marketplace, with a mainly out of province, if not out of country, buyer profile. This is a totally secondary home marketplace, so events in the home areas of my buyer affect my area, not my province's indicators.

Jun 11, 2009 05:02 AM

Thanks Li for your insight Sharon

Jun 11, 2009 05:35 AM

Rudy Bachraty

Director, Communications & Partner Strategies, WellcomeMat - Fort Collins, CO

Hi Sharon!

Thanks for sharing.

We all know that home price reductions happen for a variety of resasons. They also happen for homes that may have been priced correctly based on current market conditions and also for homes that may have been overpriced based on unrealistic expectations. Of course the best thing to do in order to sell quickly is to price it right from the start. In addition to that, presenting it in the best condition possible and marketing the home where the consumers are looking can help as well.

Here is some more infor re: our analysis: http://www.truliablog.com/2009/06/05/274-billion-cut-from-asking-prices-nationally/

Best,

Rudy

Social Media Guru at Trulia.com

Jun 18, 2009 05:12 AM

Thanks Rudy appreciate the comments.

Jun 18, 2009 05:35 AM

Sandra White

John L Scott Real Estate - Port Townsend, WA

Experienced Residential Resale Broker

Sharon, I had never checked out Trulia.com. Interesting site. There is no shortage of websites to search for property. There are certainly some good buys out there, that is for sure.

Jun 24, 2009 01:24 PM

Sandra, thank you for reading my post and yes there certainly are some good buys at the moment.

Best wishes

Jun 25, 2009 01:40 AM

HAVE YOU SEEN THE LAST FIGURES FROM TRULIA?

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