Some of you may have thought I was crazy when I wrote about listing prices and how they mean nothing. I know… it’s an extreme stance to take. But I’m all about seeing what the market is doing (ie: looking at SOLD prices), and not so concerned with what the market is hoping it can do (ie: looking at LISTING prices). That’s why I stand where I do on the issue.
- I’ve been known to take an extreme stance on certain topics
My background in real estate appraisal is probably to blame. In appraisal, we look back at the market, viewing what happened — not forward, looking at what could happen. Appraisers are taught that the only way to reliably see what is going on is to study market action, and market action is determined by closed sales. Not listing prices, contingents, or pendings. Closed sales.
Let’s illustrate the danger of depending on the validity of a listing price by looking at a real life example in Haight Ashbury. 513 Clayton came on the market on May 25th for $1,195,000. This charming 3/1 condo has an excellent Read the rest of this entry ?
