tag:blogger.com,1999:blog-22169920.post4716351598076680747..comments2023-12-20T03:39:11.359-08:00Comments on San Fernando Valley Real Estate: More on 1435 N. Pass, BurbankJudy Graff, Broker Realtorhttp://www.blogger.com/profile/18318238524166896069noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-22169920.post-91519603451481219852010-11-11T09:11:36.000-08:002010-11-11T09:11:36.000-08:00tbgpalisades, I welcome your reasoned approach to ...tbgpalisades, I welcome your reasoned approach to the question of value although I don't agree with your conclusion. I hope you'll keep visiting this blog and engaging in an active dialogue, however!<br /><br />JaredWest, sorry, but by no statistical measure, on non-statistical measure, have prices in Burbank dropped 17% in less than a year for a nice 3+2! I'd love it if they did -- I'd have many more buyer clients and would be too busy to post here. And I think you missed my point. My original post on this was very complimentary on the house and was much to the benefit of the sellers, and also offered my advice to buyers. Potential buyers can take it or not.sfvrealestatenoreply@blogger.comtag:blogger.com,1999:blog-22169920.post-13609199457734445222010-11-11T08:16:55.000-08:002010-11-11T08:16:55.000-08:00why am i sensing bitterness in here? looks like so...why am i sensing bitterness in here? looks like someone is upset on a very high level for not getting this listing and therefore posting misleading information and even email conversations online..that is just not professional. This agent must understand that if she has been in business long enough (which I hope she is) she knows just like any other experienced agent like myself who has been in business since 1973 that market changes daily! Just because she sold something similar over 6 months ago at $480 doesn't mean that the same house would sell for the same amount today! Comps are out there, appraisal comes in the end to determine final value. Now imagine if this agent convinced the sellers to accept an offer for $460-$480K then the appraisal came down to $410-$420..How would that make her look? Someone who doesn't know what they are talking about. Now my advice to buyers is - don't base your opinion on 1-2 agent's blogs that represents ONLY their personal opinion about value. Do your own research, consult with your agent and let your agent help you make the best decision for yourself. That's what you hired them for right?JaredWestnoreply@blogger.comtag:blogger.com,1999:blog-22169920.post-41249722979899364592010-11-10T18:15:44.000-08:002010-11-10T18:15:44.000-08:00BTW - I would not touch this at the higher range m...BTW - I would not touch this at the higher range mentioned unless comparable rent is at least $2,500 - $2,800/month. <br /><br />That said - best of luck to everyone!tbgpalisadesnoreply@blogger.comtag:blogger.com,1999:blog-22169920.post-70606501163604031432010-11-10T18:06:46.000-08:002010-11-10T18:06:46.000-08:00There are several ways to determine value, rather ...There are several ways to determine value, rather than argument - comps are one manner, but are arguably the poorest (at least when the market is not appreciating steadily), as they are subject to emotional manipulation, and with prices falling, are immediately out of date (in terms of risk).<br /><br />Buyers should first look to rents. If this house rents for ~$2,200/month you, an an argument could be made for the $460M-$480M price. I assume you will provide your prospects with comparable rental stats?<br /><br />Secondly, look to a valid index that compares same sale to same sale, such as Case-Shiller. For that, see my comment on the original post. <br /><br />It's not a time for buyers to be making emotional purchases without the facts.tbgpalisadesnoreply@blogger.com