Rudy Bachraty’s Real Estate Blog

A home buyer on Trulia recently asked:
How can I see how long properties have been on the market on Trulia?


On each listing, we show the days on Trulia as illustrated in the image below.



I could have just commented on their question here but wanted to show the illustration.

Hope this helps.

The news is everywhere. First time home buyers now have an extension to get their $8,000 tax credit. They will have to have a signed contract by April 30th and existing homeowners who have lived in their home for more than 5 years are eligible for a $6,500 tax credit. More details on the Tax Credit extension can be found on our corporate blog.

So I hope to see all of you sharing this very imporatant information with all your local readers on Trulia and beyond. If you have not done so already, please write a blog post highlighting the tax credit extion details as well as the new program for existing homeowners.

If and when you do, please leave us a link to your post either on this blog post or on my question here.

Thanks all!

* Update - The new location of the event is located at 4490 Glidden Way, Fremont CA 94536

On Thursday November 5th, 2009, Trulia, along with Trulia Mayor Carl Medford and the home sellers, is hosting a free educational, social networking and wine tasting Open House event in Fremont, California. When it comes to social media, some people refer to it as an online cocktail party. Well, we’re bringing the online connections that have been made, offline for a little party of our own.

You see, the back story here is that the home seller of this fantastic Victorian home located in Fremont, California found his real estate agent, Carl Medford, on Trulia. As one of our first 5 Trulia Mayors, Carl’s idea was to host a Trulia Voices real estate networking event at the home of one of his Trulia clients. After a little brainstorming, we decided to incorporate some educational marketing material and Wine tasting into the open house as well. So if you are from Fremont or the surrounding areas and will be in Fremont on November 5th, please stop by, we’d love to meet you face to face.

Here are the details:

• Date: Thursday November 5th, 2009
• Time: 3-5 pm - Broker and Agent educational & networking session
• Time: 5-8 pm Networking event open to all - Home Buyers, Sellers, local businesses
• Address: *Updated - 4490 Glidden Way, Fremont CA 94536 i
• Meet some Trulians
• Meet Carl and the home sellers
• Learn some online marketing tips that can help you and your business
• Learn how being proactive on Trulia’s real estate social networking community can help you connect with home buyers and sellers
• Carl will share how blogging on Trulia has helped him create a significant online presence that has transformed his business.
• Meet other local Trulia Voices from Fremont and surrounding areas
• Network with Fremont area real estate agents, brokers and other professionals
  
• Enjoy the free Expresso Bar and hors devours
• Free Wente Wine tasting
  

If you plan on attending, please leave a comment here or register on our Facebook event page or on Eventbrite.

* The new location of the event is located at 4490 Glidden Way, Fremont CA 94536

Jeanne Feenick shares a Trulia success story of how first time home buyers Alex and Olga found Jeanne on Trulia Voices. And ultimately, how she helped them find their home in New Jersey.

Thanks for sharing Jeanne!

photo credit: AMagill

*Note - If you don’t see home price reductions for your local market mentioned below, just leave a comment below with your City, County or zip code and we’ll provide it to you on demand. If you’re on Twitter, just ask me @trulia “How much were prices reduced in my area - City, County or Zip code? Cool?

Our September home price reduction report shows a fourth straight month of increases. 26% of U.S. homes as of September 1, 2009 have experienced at least 1 price cut of their original asking price. Since June, the percentage of price reductions has increased by 10%. The total amount slashed off of active for sale listings by home sellers is $28.5 billion. Fourteen of the largest 50 cities are seeing reduction rates that are significantly above the national average of 26%. The average percent off the original asking price remains 10% off compared to 10.6% in June. For the 4th straight month, Jacksonville, Florida leads the way with 37% of active listings seeing a price reduction.

Price Reduction Highlights

• 26% of U.S. homes as of September 1, 2009 have experienced at least 1 price cut of their original asking price
• $28.5 Billion in price reductions
• Average national price reduction remains 10% compared to 10.6 in June
• Jacksonville, Florida leads nation in price reductions for 4th straight month with 38%
• Sellers need to price aggressively to avoid price reductions
• Luxury homes priced $2 million plus seeing an average of 14% cut vs. the national average of 10%
• Luxury homes over $2,000,000 on Trulia = 2% but = 25% of the $28.5 billion in home price reductions
• New York City, New York = sellers cut 13% off original asking price
• Austin, Texas = sellers cut 8% off original asking price

According to Trulia’s Co-Founder & CEO Pete Flint,

“The steady rise in price reductions is a signal that sellers are still trying to adjust to the ever changing market conditions. “We expect the $8,000 federal tax incentive to extend the peak home purchasing season beyond the summer months, continuing to drive  competition amongst sellers and ultimately leading to more price reductions, giving consumers a great opportunity to find the home of their dreams.”

Several cities have seen four consecutive months where the percent of homes that have seen a price reduction has increased month-over-month, underscoring that sellers across the country might not be fully adjusting their home value expectations to the current real estate market:

Top 50 U.S. Cities for Price Reductions in September

Luxury Real Estate Market

Luxury homes that are priced $2 million and above are seeing an average of 14% cut vs. the national average of 10%. Approximately 2% of the homes on Trulia are luxury homes yet are responsible for 25% of the $28.5 billion in home price reductions.

For more info on Trulia’s national home price reduction report, please visit our press release in the Trulia News Room.

Trulia started a Twitition today to help extend the $8,000 1st Time Home Buyer tax credit and we need everyone's support to help spread the word.

If you have a Twitter account, please click this link and RT - Re-tweet the Vote.

http://act.ly/ig

Let's see if we can help influence some positive change.

Brett Favre just signed a contract to be the new quarterback for the Minnesota Vikings. As one of the NFL’’s most dominant quarterbacks over the years, I guess he still has one or more years left in him. As a Jets fan, we were happy to have him last year in New York. Ok, so he’s un-retired once again. Does he have it in him to make another run? Who knows. But one things for sure, he has to live somewhere this season, right?

Here’s some homes that Brett might want to consider buying:

1. $5750,000 - 2505 E. Lake Of The Isles Pkwy Minneapolis-MN 55405

2. $5,495,000 2427 E. Lake Of The Isles Pkwy Minneapolis MN 55405

3.  $3,999,990 -  222 2nd St. SE. 1701 Minneapolis MN 55414

4. $3,995,000 - 2340 W. Lake Of The Isles Pkwy Minneapolis MN 55405

5. $3,295,000 - 301 Kenwood Pkwy 701 Minneapolis MN 55403

In case Brett doesn’t have a Realtor to help him, here are some local real estate agents in Minneapolis, Minnesota that can help him find his new home.

Good luck in your new city and with your new team Brett!