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Fewer clues with this one – the house isn’t on the market yet.

Want to guess the eventual sales price?

The last one we saw like this was the 3,800sf house on Skyline that had a similar or better view – and it closed last Friday for $838,000:

The second half of this video gets into price reductions during the selling season - the time when sellers run out of excuses for not selling, other than price.  You should try to sell before April, and certainly before May, because once we get into late spring, the backlog of over-priced turkeys will cause the remaining buyers to hesitate further.

My Pricing Rules-of-Thumb:

1. Anywhere, Any Time, Any Market Pricing Gauge:

A. If you are getting offers, then your list price is about right.

B. If you are getting lookers but no offers, your list price is about 5% to 10% wrong (too high).

C.  If you don’t have any buyers looking at the home, it has to be more than 10% wrong on price.

2. Buyers are addicted to the days-on-market statistic, which is out in the open.  They are subtracting about 1% from your original list price for every week the house is on the market.

3. As a result, sellers should lower their price by 5% every 2-4 weeks until they start getting offers.

4.  An exciting price creates urgency and enthusiasm among both buyers and agents.  Without it, your listing goes stale quickly, usually after two weeks – and then lookers dwindle down to just those occasional stops done by agents for comparison to help them sell the better-priced house down the street.

Have you been hoping to find a turn-key, stylish condo in downtown La Jolla where you can walk to everything?  A home that has all the modern conveniences, including two-car off-street parking?

http://www.redfin.com/CA/La-Jolla/7411-Herschel-Ave-92037/unit-2B/home/6605345

Come take a look tomorrow when I’ll be doing open house from 12-3pm at 7411 Herschel, #2B:

With a few other goodies in between:

There are a few listings around Carmel Valley that came out hot this year…..but haven’t sold.

Will buyers snap up the less-expensive offerings, in spite of a flaw or two?  Or will they wait?

The REO in this video may not be a perfect test, because it’s down around where investors might get interested. But it appears that closed sales are stumbling a bit around the CV – last year there were 31 detached closings between Jan 1 and Feb 10th, while this year there were only 23.

http://www.sdlookup.com/MLS-120008431-13595_Lavender_Way_San_Diego_CA_92130

The other contest was the La Jolla Shores bidding war that garnered 18 offers!

http://www.bubbleinfo.com/2012/01/11/bidding-war-contest/

They had the goofy ‘no offers for 0-7 days’, and then the ‘owner-occ offers only for 8-14th day’ policy, but the bank let it run past the 15th day so they could consider all offers.

It listed for $749,000 on Jan. 3rd, and went pending on Jan. 25th.

Today it closed for $879,000 cash!

All my luck – we have two winners again!

$878,000 – Kryx

$880,000 – Myriad

Both will receive dinner for two at the Marine Room down the street – Congratulations!

See the other guesses in the comment section – and thanks for participating!

Tom is coming right along on his major remodel in Bay Park – the photo at the right was taken since Friday’s video (click to enlarge).

Tune in Monday night, February 13th at 8pm when Tom joins me on Blog Talk Radio right here at bubbleinfo.com.

We will be discussing his strategies for finding properties, where he gets his design ideas, the process of remodeling, and the specific strategy of how to sell for top dollar.

There is a funky thing about Blog Talk Radio.

They don’t have any code for leading into the shows – the listening button just goes live at 8:00pm with no notice. So if you tune in a few minutes early and don’t see any place to click to listen, wait until 8:00 on the dot, and it will suddenly appear – and we’ll be rocking!

Also visit Tom’s blog here:

http://tomtarrant.com/

Here are two dis-similar La Jolla houses listed on the same day, but they face the same challenge – finding buyers willing to tackle a project. 

If you can get comfortable with buying a fixer, you can expand your target zone:

Think it’s been crazy so far?  

Between sellers getting more optimistic, scamming realtors low-balling short-sales everywhere, and bank clerks hoping to find the 30-day price from hundreds of miles away, it could get wackier!