tag:blogger.com,1999:blog-20377909.post2741673854587335562..comments2024-02-26T08:05:58.174-08:00Comments on ECONOMICROT: Las Vegas homes for $60 SF?Randyhttp://www.blogger.com/profile/09221346085089343469noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-20377909.post-50414868836497935042009-09-26T22:16:03.359-07:002009-09-26T22:16:03.359-07:00I'm puzzled. The recent HousingTracker home pr...I'm puzzled. The recent HousingTracker home price data (median) seems moderately downtrending Jan-Jun09 (~15% loss). On the other hand, your Zillow derived plots for median/sqft seem more steeply downtrending for Jan-Jun09 (~20-25% loss). Are my estimates wrong? If not, why does dividing by sqft change the slope so dramatically?<br /><br />Note that, for the 5836 Maria Del Mar St property (see your link), the asking price is $237.9k while the ZESTIMATE is $455.5. Seems quite often that the recent ZESTIMATE is higher than asking price.Unknownhttps://www.blogger.com/profile/06004558716400615566noreply@blogger.comtag:blogger.com,1999:blog-20377909.post-26648427323880333722009-09-03T19:47:43.735-07:002009-09-03T19:47:43.735-07:00Randy, long time reader, love the blog...but I'...Randy, long time reader, love the blog...but I've got to offer this from my "brain dump" entry, on my blog:<br /><br />http://bxcapricorn.blogspot.com/search?q=brain+dump<br /><br />Will a Housing Bottom Lead Us Out?<br /><br />Ah….the housing “experts”…they’re collectively like a fat guy wearing a football jersey. They might dress the part, but the oversized shirt just serves to hide the obvious, while also providing better nacho crumb collection.<br /><br />http://www.businessweek.com/lifestyle/content/jan2009/bw20090129_641584.htm<br /><br />Note: Might be better off sticking with John Burns (of John Burns Real Estate Consulting) and Rick Sharga of RealtyTrac, when it comes to housing market predictions.<br /><br />Note: If you really want to get deep into the current state of the housing market, go here:<br /><br />http://www.campbellsurveys.com/AgentSummaryReports/AgentSurveyReportSummary-June2009.pdf<br /><br />This survey PDF was compiled by surveying those that are knee-deep in the Real Estate market, day-in and day-out, not the PR representative of the NRA. The result is a no-spin, clear look at the now fractured RE market in the US. I consider the US Real Estate market to now exist as four markets. They are:<br /><br />- Damaged REO<br /><br />- Move-In Ready REO<br /><br />- Short Sales<br /><br />- Non-distressed properties.<br /><br />Which is why the statistics on Housingtracker.net are no longer worth considering, as they once were, and why I’m getting more than a little annoyed at pundits that make doomsday predictions based on generalized housing data from:<br /><br />http://www.housingtracker.net/<br /><br />Hope this modifies your viewpoint, not that it matter to me personally, but I felt you deserve exposure to the Campbell's Survey.BxCapricornhttps://www.blogger.com/profile/14720907895352964228noreply@blogger.com