Yes please! That would be great!

As of yet there’s no way to GET this information from the RedFin website, but it does exist in the MLS. RedFin reports the DOM (days on market) statistic, but there’s also a CDOM (cumulative days on the market) recorded. I havent’ seen any site that reports that to the public. CDOM has different reset characteristics, the more important of which is “after a material change in the property” – whereas DOM resets every time the house is listed.

Wow, I remember bringing up this house on the forum back in October:
http://seattlebubble.com/forum/viewtopic.php?f=1&t=782

I didn’t bother to keep track of it, and I am SHOCKED that they continued to raise the price! God, no wonder I’m developing buyer’s ulcers (as evidenced this morning).

http://www.redfin.com/stingray/do/printable-listing?listing-id=1289686

just_checking // Feb 7, 2008 at 4:57 pm

My link can beat yours anytime :).

http://www.redfin.com/stingray/do/printable-listing?listing-id=134055

Take that deeplennon !! :)

1121 days on the market and a 50K price reduction.

Wow… $1.2 Million for my very own junk yard… From the Bird’s Eye view on Zillow you can even count the school buses, boats and cars..

wonder why no one has picked up this….. uh.. deal…

(note: the first line of the description is great… “Seller is very motivated. ..” )

http://www.redfin.com/stingray/do/printable-listing?listing-id=134055

Take that deeplennon !! :)

1121 days on the market and a 50K price reduction.

Interesting, I seemed to have found one that’s still appreciating :) How serious can these people be?

http://www.redfin.com/stingray/do/printable-listing?listing-id=300992

Especially now, with commissions getting scarcer, they have zero incentive to be straight. It’s not their fault: it’s just the pernicious nature of the commission-based system.

Unfortunately, the converse is not true. Just because prices drop does not mean sales volume will increase.

Looking at my own neighborhood, similar homes were selling at close to $500K at the peak, and volume was high. Now, there are dozens for sale at at an average price in the high $300’s and they sit. All these new listings have popped up in recent weeks, all asking the same $389,999 or a few bucks up or down – and buyers are nowhere to be found.

At some point, the price drops become so startling, people have lost so much equity, and inventory multiplies like rabits and despite the improvement in “affordability” buyers just aren’t buying.

Yes, and here is the reason:

If prices don’t fall, sales volume will stay in its current pitiful state. If sales volume stays in its pitiful state, many, many, real estate professionals go out of business. I don’t see why this concept is so hard to grasp.

If I were a Realtor, I would be doing everthing in my interest to get sales volume back up. You don’t need a 3-digit IQ to realize this means a major drop in prices.

Tim, you need to do interviews with these people. Find out what statistics he’s using to base his predictions on.

i agree with the bottom calling. If you could list the names, dates, prediction v. actual I think it’d be a great “who is full of b.s.” resource for people looking for an agent when they hit the market. Assuming, of course, any of these B.S. talkers are still in RE when it comes time to purchase.

It’s no different than the Romney campaign giving quotes about fighting on, one day before he dropped out. They don’t expect anyone to believe them, and the reporter quoting them doesn’t expect readers to take those quotes as unbiased analysis, either.

Redfin now puts up each listing’s price change (drop), with dates. Look up any house that’s been on the market for a while. It’s not as scientific as Tim’s stats, but it tells the story pretty convincingly.

this strategy may take them through next summer.

Also, it’s a source of factual information that will hit people in the gut when they come to the site — you don’t very often see hard facts that prove that pundits are idiots.

Maybe I should start a page where all we do is collect specific quotes from local agents calling the bottom or making unrealistic upbeat predictions. That could be fun.

In addition to all the numeric charts about sales figures and prices, I wish we had a historical chart for when bottoms are called. It could track local experts, and I predict it would look something like this.

This would be an excellent resource to know when we had hit the actual bottom. When all the experts give up on calling the bottom, it’s here.

i figured that would be the headline for the RE sections:

“seattle RE continues to buck national trend with increasing prices”