Even in a down market, there is always a point where if you go low enough, someone will buy. A few weeks ago I blogged about Pulte offering three brand new homes in Del Webb on the MLS at prices representing new neighborhood lows. Listed on 8/23/06 for $336,000, 9161 Quilberry Way went pending after just one day at nearly $186 per square foot. 9141 Quilberry went pending on 9/2/06 for $196 per square foot. And 9137 Quilberry went pending on 9/11/06 for $189 per square foot. Pulte also offered $6K in closing costs if you went with their lender.
So, sellers, the buyers are out there, but you have to look good and price right against brand new homes all over town.
Buyers, even though the market is down, there are people out there snatching up the best deals.
Price reductions = 76
Reno Ignoramus
Why do these not appear in the MLS? And, have they closed, and at what price?
Did Pulte accept offers below asking?
Diane Cohn
They are categorized pending/no show, so you won’t see them on public sites. And they haven’t closed yet, so I don’t yet know the answers to your last two questions.
I'd rather not say...
Interesting….Quilberry Way isn’t found in maps.google.net. The development and the roads are too brand new.
Reno Ignoramus
Would you be kind enough to tell us the initial listing prices when these three houses first came on the MLS?
Wazzup
RI,
They did show up on the MLS, here’s my post from Aug 25:
Diane,
I just took a look at the listing on Ashland Bluff Way at $495k. Yesterday, three listings on Quilberry showed up on the mls at 354k, 343K and 336k. What going on in Sierra Canyon? Any comments for a future buyer, ~2yrs? I’m scared.
Posted by: Wazzup | August 25, 2006 at 09:40 AM
Perry
I believe too that there really isn’t a shortage of buyers, only a shortage of crazed ones. No one is willing to pay too much for a house anymore. I’m tired of listening to the media say that the market is slowing due to higher mortgage rates and the FED is so smart etc. I think that rates would need to climb to over 8.5% in order for it to affect the market. One percentage point does not affect a mortgage payment the $80,000 does. I’ve believe that if prices will come down the reasonable amounts, the buyers are there. Check out 70 Suda Way, MLS# 60019965. This is a rather spendy home at $695,000, but you get what you pay for in this case, so it sold. A nice house, on a large lot, on the west side of town.
The article from the Las Vegas paper was interesting. It will be curious to see how this scenario plays out through the winter. It looks like there have been about 24 foreclosure notices filed in Washoe County since the first of the month.
Wazzup
Irns,
You need to use the old technology, the Reno-Sparks map from the AAA dated 10-05 shows Quilberry. It goes out through SC Village 4 and some of 5.
Reno Ignoramus
Let’s look at some Del Webb Sierra Canyon current listings and see what they are asking on a sq. ft. basis:
MLS # 60020863 1765 Trail Creek
$225/sq.ft.
MLS # 60024960 9079 Cabin Creek Tr.
$243/ sq.ft.
MLS # 60022711 1130 Cliff Park Wy.
$215/ sq.ft.
MLS # 60004204 9270 Palmetto Ct.
$250/ sq.ft.
MLS # 60018705 1840 Evergreen Ridge
$273/ sq.ft.
According to Diane, every one of these houses on Quillberry Way sold for less than $200/ sq. ft.
Looks like the comps are dropping in Sierra Canyon. What is it that gotlots likes to say?