Dark Reality of down market

[ErraBook_monagadu]

Both houses bought 830K  three years ago. 
 

This house not selling since Feb listed $800k

https://www.zillow.com/homedetails/5777-Tournament-Ct-Tracy-CA-95377/2063071241_zpid/

 

Now the other listed for $700k

https://www.zillow.com/homedetails/6991-Seraphina-Dr-Tracy-CA-95377/300278108_zpid/

 

[ErraBook_monagadu]

Next another one will list $650K

[Sonu_Patel]

papam.. they tried to rent it seems.. 

overall loss = 830k - 699K - 5% commissions = $165K 

 

[ErraBook_monagadu]

Property tax 50K

Vacancy cost++

[halwafan]

india lo kuda gabbu leparu Real estate ni NRIs.. 

[ErraBook_monagadu]

These are symptoms of market collapse:

 

1. Resale house for sale 1.4M

https://www.zillow.com/homedetails/6832-Spanner-Ct-Tracy-CA-95377/300275717_zpid/

 

2. Brand new house similar size for sale by builder $900K, in addition many incentives and much better financing terms.

https://www.zillow.com/homedetails/2821-Jonah-St-Tracy-CA-95377/451091474_zpid/

[rajvasraj]

On 6/26/2025 at 7:19 PM, ErraBook_monagadu said:

Both houses bought 830K  three years ago. 

 

Now the other listed for $700k

https://www.zillow.com/homedetails/6991-Seraphina-Dr-Tracy-CA-95377/300278108_zpid/

 

this family might have some emergency vayya

[aratipandu]

24 minutes ago, ErraBook_monagadu said:

These are symptoms of market collapse:

 

1. Resale house for sale 1.4M

https://www.zillow.com/homedetails/6832-Spanner-Ct-Tracy-CA-95377/300275717_zpid/

 

2. Brand new house similar size for sale by builder $900K, in addition many incentives and much better financing terms.

https://www.zillow.com/homedetails/2821-Jonah-St-Tracy-CA-95377/451091474_zpid/

obviously all desis want new construction only....

resale listing esina uncle and aunty ki notlo

[rajvasraj]

21 minutes ago, ErraBook_monagadu said:

These are symptoms of market collapse:

 

1. Resale house for sale 1.4M

https://www.zillow.com/homedetails/6832-Spanner-Ct-Tracy-CA-95377/300275717_zpid/

 

2. Brand new house similar size for sale by builder $900K, in addition many incentives and much better financing terms.

https://www.zillow.com/homedetails/2821-Jonah-St-Tracy-CA-95377/451091474_zpid/

pyna house ki 2% intrest kinda house ki 7.5% intrest...buddi undali kada vayya compare cheyyataniki kuda.. 

[rajvasraj]

Just now, aratipandu said:

obviously all desis want new construction only....

resale listing esina uncle and aunty ki notlo

intrest rates padite veede start chestadu pandu kuyyoo morroo enti ee price lu ani  

[ErraBook_monagadu]

1 minute ago, rajvasraj said:

this family might have some emergency vayya

No, the agent never underprices because of sellers urgency. Even if they do, they do underprice a little bit to generate more traffic., not a large amount.

That is not the case here, the agent fully realized that many properties are sitting unsold for 1 to 1.5 years and correctly decided to price it right.

The clever agent understands reality. many others still living the illusion of recovery, irrational overbidding expectations etc waiting for a disaster.

 

[ErraBook_monagadu]

4 minutes ago, rajvasraj said:

pyna house ki 2% intrest kinda house ki 7.5% intrest...buddi undali kada vayya compare cheyyataniki kuda.. 

how does it matter to the buyer? The seller can’t pass 2% mortgage to the buyer. You have no idea how real estate works?

[rajvasraj]

Just now, ErraBook_monagadu said:

No, the agent never underprices because of sellers urgency. Even if they do, they do underprice a little bit to generate more traffic., not a large amount.

That is not the case here, the agent fully realized that many properties are sitting unsold for 1 to 1.5 years and correctly decided to price it right.

The clever agent understands reality. many others still living the illusion of recovery, irrational overbidding expectations etc waiting for a disaster.

 

malli ade septunna vayya, you are seeing the principal number but the main problem is monthly payment that is way more that what the original seller paid for.....intrest rate lu 8% unnappudu house kone vadini em antaru...

[rajvasraj]

Just now, ErraBook_monagadu said:

how does it matter to the buyer? The seller can’t pass 2% mortgage to the buyer. You have no idea how real estate works?

ori nayanaa neeku burra unda leda...intrest rates 8% unnari ante how does it matter endi raa nayaanaa edikelli vastar raa meeru 

[ErraBook_monagadu]

6 hours ago, rajvasraj said:

ori nayanaa neeku burra unda leda...intrest rates 8% unnari ante how does it matter endi raa nayaanaa edikelli vastar raa meeru 

That’s not the point I was making. I was asking how does the difference in interest rates current owners are paying for the two houses, will factor in the listing price? That is absolutely not a factor that should differentiate listing price of two houses