Mike F's website used to show what recent listings had sold for as well as their historical sales price in the past back to 1990's(?)
I recall doing some sample tests over a few weeks during the spring/summer this year - the stats were showing that roughly half of all the sellers were actually negative after paying the standard realtor fees. That of course would not include interest payments, moving costs, sunk costs for renos (though it would obviously account for higher sales prices due to the reno.)
Much of that would be due to people who bought during the boom and then had/wanted to sell thereafter. I can't seem to find that link on his site anymore. Did he move it, anybody else see it now?
EDIT: Ahhh here we go (sorry if it seems kinda dbagish to quote myself):
Quote:
Originally Posted by chemgear
You piqued my interest about this component and I had a more detailed look. On Mike F's website you can see the recent sales and what they were originally purchased for in the last seven years.
The most recent sample of ~100 SFH sales (in the last few days) show that almost exactly half of them lost money when they sold, net after standard realtor fees. That does not even include any kind of mortgage interest, property taxes, moving costs, repairs, etc. over time. Heck, that doesn't even include properties that had sunk costs for renovations over the last 7 years for a potential uptick in value.
Average loss was more than $50,000 - a bit painful for just a few years.
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