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A new visitor to your site….ran across it from a link posted to patrick.net. Good info.
Quick question? How do you determine a “house in trouble” on redfin? Do you simply compare the asking price to the last sale price, and if the asking price is lower, then you consider it as a “house in trouble” listing?
I do a similar thing, but wondered if there was a “search” function on Redfin that allowed you to find all the homes with an asking price lower than the last sale price. That would be a handy feature.
Thank you for the post. I’ll be sure to check back in a couple of weeks.
Charles-
I’ve been watching San Mateo RE for over a year. Lots of overpriced property but it looks like there’s manipulation by realtors going on too. I’ve seen properties drop 10% in asking price, go off the market and get reported “sale pending” or “sold” on the realtor’s home page, then reappear on the market 3 months later at the same price.
It looks still very much like realtors are trying to scare buyers into paying top dollar by making it look like young people should feel fortunate to pay $600k for a dilapidated, 2-bedroom shack.
Great post. Fascinating to see how quickly things are changing. Also, love the photo. That would be awesome for a 404 page!
This is a dream house for a web developer.
))
We’ve seen this coming for years… everyone was trying to jump on the housing boom, borrowing money hoping to cash in big… what were they thinking??
Hello- go to Buffalo New York-and see equivalent to #404-selling for $10-to 15 thousand!!!
“It’s hard to imagine that someone paid over $1000 per squarefoot for this place, ”
In reality, that someone is an unknown (foreign) investor who had no idea about the place in the first place.
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