… remained flat last year, according to a recent survey commissioned by Zillow.com — even though national statistics suggest the contrary.”
“Most homeowners thought the value of their homes rose or…
fascinating. I find that anecdotally too. I hear, “not in my neighborhood” all the time.
It’s kinda like perception of the quality of schools in this country. Ask people about the quality in general and they’re really negative. Ask them about their own schools and they’re generally positive.
It’s amusing that the original title of the post was “Fascinating” before I decided to be a bit more descriptive! 😉
The unbridled optimism of the American homeowner. Sellers believe their homes haven’t lost value. Buyers believe that all homes should be down at least 20%. The funny part is when the seller is also a buyer buying in the same neighborhood but they can still create a validation for their view. “My house has new paint.”
Many are in the first or 5 stages of grief according to the Kubler Ross model.. http://en.wikipedia.org/wiki/Kubler-Ross_model
1 – Denial – the majority of people currently
2 – Anger – those clients sueing their agents..
& Slash from Guns & Roses fame.. http://www.luxist.com/2007/11/18/slashs-lawsuit-special-estate-of-the-day/
3 – Bargaining – Buyers and Mortgage Lenders?
4 – Depression – Just walk away? http://money.cnn.com/2008/02/06/real_estate/walking_away/index.htm?postversion=2008020714
5 – Acceptance – Lenders & Wallstreet?
Leave a Reply