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Posted by on Jan 24, 2013 in Market Buzz, Market Conditions | 4 comments | Print Print

The Hurry-Up-And-Buy Syndrome

The lower-end market is hot enough that buyers caught up in the frenzy will react faster – and with less deliberation – causing them to overlook negatives.

Can they keep their wits about them? I doubt it too, and as a result, both of these will probably sell:

4 Comments

  1. Free advice:

    The first house – if you are buying a house to be your primary residence, and can’t move into this one until November, aren’t you tempted to pass on this and see what else might pop up over the next ten months? The backyard is all pool, and you have the uncertainty of the tenant’s situation – you at least deserve a discount.

    The second house – it sold for $550,000 in March, 2004 which seems like near-peak, and you are already almost back to that price. It needs $50,000 to update kitchen and baths, and that won’t add a square foot. Someday you’ll want to sell this for $600,000-something or more, will there be a buyer willing to pay that for 1,456sf built in 1958 that is only 100 yards away from the I-5 freeway? Too big of a risk.

    I know it seems like everything went up 5% to 10% in the last 2-3 months, but don’t panic, it’s time to outwit and outsmart the competition.

    If you need to buy, pick up something like this, which is more predictable and safe:

    http://www.sdlookup.com/MLS-130001188-3716_Azimuth_Pl_Carlsbad_CA_92010

    New rule – if you are so smart that you know that your listing WILL SELL FAST, then you don’t get to use the range pricing.

  2. put some lipstick on that pig? A few trips to home depot and you’ll have a nice crib.

  3. A small crib though – you’d grow out of this in a hurry with the bedrooms being good-sized, which leaves just a small kitchen and one living room. Four people would be cramped.

  4. Just so happy JtR got us in a sweet deal this year!

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