By The Tim on August 22, 2012
Full disclosure: The Tim is employed by Redfin. On Monday I posted the results of a new quarterly survey of home sellers that we’re doing at Redfin. This part in particular stood out to me as I was analyzing the responses: …when asked how they approach pricing their home 32% of sellers indicated that they [...]
Posted in Features | Tagged listings, overvalued, price drops, Redfin, sellers, survey
By The Tim on December 27, 2010
by Flickr user woodleywonderworks The perpetual motto of real estate salespeople that “it’s a great time to buy” is still a load of nonsense. It’s only a great time to buy when your personal finances, your stage in life, and the right home at the right price all come together at the same time. Granted, [...]
Posted in Features | Tagged appraisal, how-to, overvalued, undervalued, valuation, value
By The Tim on December 24, 2010
Our final method for determining whether or not a home is a good deal is to compare the current asking price to the historic sale prices of the same home during pre-bubble years. The simplest method is to find the oldest sale record available for the home and compare the total percentage gain from that [...]
Posted in Features | Tagged appraisal, how-to, overvalued, undervalued, valuation, value
By The Tim on December 23, 2010
Unfortunately when you’re looking at single-family homes, it can be difficult to get an accurate read on what people in the neighborhood are currently paying in rent. However, studying asking rents in the rental section of Craigslist is the next best thing, and it is definitely better than nothing. photo by The Tim Do a [...]
Posted in Features | Tagged appraisal, how-to, overvalued, undervalued, valuation, value
By The Tim on December 22, 2010
The art of analyzing a home’s “comps”—once the exclusive domain of real estate agents and appraisers—is now open to everyone thanks to sites like Zillow and Redfin that display detailed data on sold homes. The basic process is simple: Make a list of recently sold (within the last 3 months, ideally) homes similar to the [...]
Posted in Features | Tagged appraisal, comps, how-to, overvalued, undervalued, valuation, value
By The Tim on December 22, 2010
I personally believe that a reasonable analysis of the local economic fundamentals points to another ten to fifteen percent decline in Seattle-area home prices. However, I also believe that barring a major economic catastrophe that slashes wages and dramatically increases unemployment, buying in today’s market can be a good move if you can find a [...]
Posted in Features | Tagged appraisal, how-to, overvalued, undervalued, valuation, value
