WIDGET UPDATE: Since the pricing widget has now been up and running for exactly six months, we spent a little time yesterday looking at some data to try to see if it has any predictive ability. We came up with a list of twelve properties that had been both subjected to the widget treatment and…
WIDGET UPDATE: Since the pricing widget has now been up and running for exactly six months, we spent a little time yesterday looking at some data to try to see if it has any predictive ability. We came up with a list of twelve properties that had been both subjected to the widget treatment and gone on to sell. The findings were quite interesting: In every single case, the average predicted selling price fell short of the actual selling price. The interesting thing was the consistent range by which the widget underpriced. The widget price was between 9.4% and 19.8% under the ultimate selling price; on average the widget underpriced by about 14%. So we’re going to create a second-generation widget that shows average and median predictions as well as a predicted selling price based on the historical track record. Hopefully that’ll get done in the next couple of weeks. The twelve data points are listed below. P.S. If any reader would like to become the official keeper of the widget spreadsheet and try to keep an eye on this stuff, we’d be more than happy to hand it off!
Antidope is right, stoner. Your definition would make every sale an overpay in every market except where there were multiple legitimate bidders at the same exact price. It would also make every ebay transaction an overpay. market is price whereever willing buyers meet willing sellers.
Oh sorry, I was responding to antidope, not wasder…
But now to respond to wasder: whatever the current average time on the market is.
shill–can they turn around and sell it in what time frame?
Wasder, the price reflects the current market value if a number of would-be buyers are willing to pay it. If only one idiot is, then they over-priced. The test is can they turn around and sell it for the same amount plus expenses? If yes, they did well. If no, they over-paid.
any rate, all you’re really saying (now) is that we need a 12 month plateau to feel comfortable the bottom won’t fall out again. not exactly guru-level forecasting.
but i agree it is a relatively safe way to enter the home ownership arena…
Hey market-nerd. I will come to your defense here. I don’t recall you saying three months in a row was your mark for recovery. Always remember the YOY approaching zero. You are nothing if not dogmatically consistent.
if Stoner opens up your posting history six months i am quite certain i will find it.
give him permission for me to peruse and i will hunt you down.
let’s see you make that request.
Weren’t able to quote me, huh ‘dope? Stop slandering my shit!
***Bid half off peak comps***
check the ip addresses asap!!!
whuh = what = bho = mfn = mm = brickoven = cornerbodega ???
but maybe it’s stoner itself creating fictional characters that drive traffic…
nah, it’d be too hard to make up half that nonsense.
glad to see the “idiots” brigade is out in force. one question shill, your definition of over-paying applies to any and all markets, not just the current markets (last line 1234p). so unless you’re buying, price paid will be greater than your perceived value. helpful. not.