Thursday, July 26, 2007

Looks can be Deceiving

I was starting to get bummed out recently because several of the houses I had my eye on went "Inactive" in Ziprealty (they send you a message, its a pretty cool service). It made me wonder if Folsom was already starting to rebound, thus killing my dream of being able to afford a place in 95630. However, after seeing Agent Bubble's stats, I was feeling much better.

Today, I also realized that looks can be deceiving. Turns out, as I was browsing rentals (since we are planning on moving next month) one of the houses that went inactive was up for rent! It wasn't sold after all.....ha. In addition, the house next to me, that is $200 cheaper than my house, is still up for rent (which is why I thought I would do another pulse check on rental prices).

7 comments:

Gwynster said...

I keep "interesting houses" saved in Zip realty after they go inactive. Then I wait several months to check the title changes. I'm finding that most are just leaving the market, no sales. What has been selling has been getting 2% to 13% haircuts at closing since late 06'. A home just down the street from me sold for 13% less then asking according to the buyer. I'm still watching it to see what it deeds for.

buying time said...

I really only keep close tabs on houses that fall in my screen scrape criteria. Occasionally checking them against the SacBee sales data. Most of the "interesting houses" in ZipRealty are all way above my price range (but not my rental range!), so I don't follow up on those to see what really happened to them.

S said...

i would point you to check out a number of the bankowned properties in folsom. 156 witmer dr, 104 moylan ct, 714 ward way, 801 bussing ct, 446 slocum dr, 490 flower dr, 711 ward way.... you see a pattern? once escrow closes on these homes it will definitely impact median and comps in folsom. trust me there is a lot more bad news coming for folsom in terms of price

Gwynster said...

Damn, my best connection at Intel is now gone so I can't get my super inside info anymore. That said, it's my understanding that the Folsom campus is being downsized and eventually relocated. I know several people who have already transferred to the AZ site.

Patient Renter said...

"it's my understanding that the Folsom campus is being downsized and eventually relocated"

Interesting. If this pans out it would certainly be devastating around here. Those are some pretty big buildings to be sitting there empty.

Gwynster said...
This comment has been removed by the author.
Gwynster said...

My friend was their interernet security chief and all around damn fine person. She knew everything. She is now writing more books, consulting, left the area and is doing fabulously well.

I have an ex that works for them and a few aquaintances. Listening to them talk, it sure sounds like a slow, phased move without it actually being said.