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Real Estate Examiner
Showing entries for Category: house-prices

POSTED July 22, 9:32 AM

Chalk this one up in the "sad but true" category. Not all listing prices are created equal, even if the numbers are the same. There are many examples of sellers who list their home for X and don't sell. They then lower the price to Y (or even to Z), and the house sits on the market at that price, seemingly forever. Had they priced it at Y or Z in the first place, the house would have sold.

How can that be you ask? Simple psychology -- potential buyers assume either that something is wrong with the house (why else would it have been on the market for so long?) and/or they smell weakness and assume that the seller will lower the price yet again.

My advice to buyers:

1. Try not to let "days on market" bias you against a listing.

2. Don't be afraid to make an offer, even if it's a lot lower than the asking price!

Categories: house prices , home values , buyer tips

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European housing trends

POSTED July 15, 9:06 PM

Deutsche Bank published an excellent report comparing US home prices with Europe. Here's the key takeaway:"US home prices will decline significantly further in 2008, begin to stabilize in the first half of 2009, and remain depressed forsome time... Read More

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The New York Times tells us to feel sorry for investment bankers (sort of)

POSTED July 15, 9:01 PM

There was an amusing article in the New York Times this week about investment bankers in New York who are having a hard time making it past co-op boards. As a former New York investment banker, I can say with authority: please don't feel sorry for these... Read More

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On CNBC talking about real estate trends

POSTED May 27, 12:50 PM

I was on CNBC's Squawk Box this morning talking about home prices.... Read More

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Interesting Donald Trump interview on CNBC

POSTED May 15, 8:20 PM

Listen to The Donald's thoughts on the real estate industry on CNBC. As usual, entertaining and interesting, and always bombastic.... Read More

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Housing prices case study: Minneapolis

POSTED May 8, 10:54 AM

I did a radio interview this morning on Minneapolis home prices on WCCO-AM radio. Here are the highlights:home prices in the Minneapolis MN area were down 5% from a year agoCondos are faring worse than houses, especially smaller condoscondos worth less... Read More

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Media whirlwind

POSTED May 8, 9:58 AM

I spent most of the week discussing home prices on TV and radio -- over 20 million listeners and viewers heard Zillow's take on housing prices in the last few days.I shared some of my observations about these interviews over on my Active Rain blog --... Read More

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Home prices fall even more quickly in Q1

POSTED May 6, 12:08 PM

Zillow (my company) has just released their 1st Quarter Home Value Report which paints a grim picture of housing trends nationwide. A few of the highlights (or lowlights): nationwide, home prices declined 8% year-over-year, the 5th quarter... Read More

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Conference Call on Housing Prices

POSTED May 5, 10:19 PM

Zillow released our Q1 Home Value report tonight. I'll blog about the findings tomorrow when I have time, but I wanted to give you a heads-up that our head of analytics (Dr. Stan Humphries) is hosting a conference call on May 6 @ 11am PDT to discuss... Read More

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I wonder what they paid for this house...

POSTED April 25, 1:20 PM

Have you ever found yourself walking past a house admiringly, wondering what they paid for it? Or how about at a cocktail party at a nice house and jealously wanting to know the square footage? Well help is here. Just whip out your iphone or Blackberry... Read More

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Spencer Rascoff
Spencer Rascoff is CFO and Vice President of Marketing at Zillow.com, one of the leading Real Estate sites. Here he will help you better understand and respond to the ever-changing market.