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Post homes for sale and set your Make Me Move Price: In the biggest upgrade since the site launched in February, Zillow now allows homeowners and agents to post homes for sale, for free. Any homeowner can also set a Make Me Move price – redefining what it means for a home to be “For Sale.” Be sure to check out our screen shots of the new features as well.
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Quarterly Home Value Reports: What is the real estate market doing in your area? Has appreciation slowed down or is it still going strong? Get the details on what is happening to the housing market in our Q3 2006 Home Value Reports. A national report is available, along with specific reports in Seattle, San Francisco, Los Angeles, Phoenix and Miami.
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The Press Democrat reports from California. “To counteract sluggish sales, home builders in the Bay Area and Sonoma County increasingly have been forced to whack prices and offer incentives to lure buyers. Through November, new homes sales were down 32 percent in the Bay Area, compared to the same period last year, according to the Ryness Report.”
“As a result, buyers are more in control, in some cases paying roughly $100,000 less than what they would have paid for the same new house a little more than a year ago.”
“The median sales price of a new home also is down compared to a year ago. In November, it was $560,000 in Sonoma County, 15 percent less than the $655,000 in November of 2005, according to Dataquick, which lumps both new houses and condominiums.”
“Buyers expect to be wooed. ‘People walk in the door and say ‘What are you giving away?’ They don’t want to see models, or floor plans,’ said Josh Armstrong, a sales associate at Turnberry.”
“One high-end model that initially listed for $840,000 is now offered for $790,000. Homes that sold in the mid-$700,000s are now in the high-$600,000s.”
“Average weekly traffic, or the number of potential buyers in the Bay Area visiting new home projects, has declined 36 percent this year compared to last year.”
“‘Buyers are starting to come out. They’re skittish, like deer coming out of brush. They want rock-bottom prices,’ said Greg Anderson, sales manager for a 149-home project under construction in Santa Rosa.”
“‘Two years ago, there were more buyers than available homes,’ said Maurice Lockwood, a vice president for Cobblestone Homes. ‘Now it’s the inverse. Inventory is there and buyers have a choice.’”
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