I AM NOT STUBBORN!

By
Real Estate Agent with Dunnigan, Realtors, Sacramento (916) 425-9715 CalBRE # 01188158

I just read an article in Realtor Magazine that made me feel so validated.  Let me first say, in the interest of full disclosure, that I am a native Sacramentan and proud of it!  I don't mind the labels of Cowtown, Sacratomato or any of the other "hick town" labels that have been attached to my hometown. In fact, they are endearing.

Now Sacramento has been recognized in a national magazine...not as the 5th most miserable city in the nation...but as the city in which sellers understand the need to price homes correctly and to adjust, if necessary, just as quickly!

Where do you find the most stubborn sellers who wait 80 days before slashing their price?  According to Trulia they are:

New York City                                                                                             
El Paso, Texas
Charlotte, North Carolina
Cleveland, Ohio
Raleigh, North Carolina
Louisville, Kentucky
Kansas City, Missouri
Memphis, Tennessee

There are other cities that will slash, but not enough the first time around.  These cities are:

Phoenix, Arizona
Mesa, Arizona
Jacksonville, Florida
Baltimore, Maryland
Chicago, Illinois

Finally, the cities that "get it" and are ready to cut prices on an average of 45 days to 53 days are:

Minneapolis, Minnesota (number 1)
Oakland, California
Sacramento, California

Personally, I think this really reflects the level of experience the cities have had with the market.  I think most will agree that California had the pin that burst the bubble.  I don't know what to say about Minneapolis..I am sure there is a great explanation!

 

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  1. Janice Roosevelt 05/10/2011 01:23 AM
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Rainer
85,486
Nona Swann
Swann & Associates Real Estate - Indialantic, FL
Serving the needs of the Sellers in Brevard County

Interesting blog. I wish my city was on that list. Congratulations on your city not being stubborn!!

Apr 11, 2011 04:04 PM #1
Rainer
248,002
Doug Bullwinkel
Envoy Mortgage,NMLS ID 6666 - Roseville, CA
Mortgage Loan Originator NMLS #281609

The people in this area (Sacramento) are for the most part pretty nice.  They also have taken the worst beating in the housing market so they're more realistic than other places.

Apr 11, 2011 04:36 PM #2
Rainmaker
206,301
Ed Gillespie
WealthWise Mortgage Planning, a Division of American Pacific Mortgage Corporation NMLS #1850 - Folsom, CA

Very interesting study, Paula!  I would never have guessed!  Doug, I think you are right.  I still find folks who think their house is worth more than it is...but they are not as shocked as folks were a year ago!

Apr 16, 2011 07:00 PM #3
Rainmaker
473,005
Janice Roosevelt
Keller Williams Brandywine Valley - West Chester, PA
OICP ABR, ePRO,Ecobroker

Paula, this is fascinating. I am reblogging! Great stuff! I wondered where the Philadelphia area stacks up!

May 10, 2011 01:21 AM #4
Rainmaker
767,896
Thom Abbott
MyMidtownMojo.com |770.713.1505 | Intown Atlanta GA Condo Living - Atlanta, GA
Midtown Atlanta GA Condos For Sale

Ah Paula...I think ATL should of been in there somewhere. I had a listing for 6 months. FINALLY, got the seller to make one price adjustment.

Then she learned she would get some relo costs paid if she went with another agent the company required her to use. House went under contract in a week, after she did what she swore up and down she would NEVER do with me.....dropped the price $25,000.

Grrrrrrrrrrrrrrrr

May 16, 2011 10:03 AM #5
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Rainmaker
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Paula Swayne

Realtor-Land Park, East Sac & Curtis Park -Dunniga
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