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Category Archive: ‘Bubbleinfo TV’

Open House Report

2016-01-30 13.10.03

Thoughts and reactions from today’s open house:

  1. For those looking to buy a newer 4,000sf single-story house, there were ten sold in the last 12 months – in the county!  They are in remote areas – Fallbrook, Valley Center, Rimrock, Jamul, etc., and they cost about the same. It makes Santee look like the middle of town – and this is a superior view!
  2.  Neighbors agreed that the east side of the street was the preferred location. Why? Because the east side is cooler.  The west side of the street gets the afternoon sun, and either your houses bakes for hours or you have to at least lower your blinds, which negates the benefit of having a view.
  3.  People have been disappointed so often with homes that their expectations are low – they don’t want to get their hopes up.  When they do see an impressive house or spectacular view, some folks get downright giddy – open house feels like a party!
  4.  The price is understandable, and nobody complained – which they usually do if they don’t like it.
  5.  There were 100+ people who attended during the 11am-3pm stretch.  Many were neighbors, but they are good candidates for moving up the hill from the tract below.
  6.  People love solar – free air conditioning!

ocotillo map

I’m not sure when it will happen, but I have confidence that this home will sell!

Posted by on Jan 30, 2016 in Bubbleinfo TV, Jim's Take on the Market, Listing Agent Practices, One-Story, View, Why You Should List With Jim | 0 comments

3D Home Tour

3D camera

Carlos Hernandez from www.touritnow.com did a 3D home tour of my new listing, using his Matterport camera.  Here’s how it turned out:

http://www.touritnow.com/3d-model/7249-ocotillo-street/skinned/

This technology will be the next step in selling houses from afar – do busy people really need to visit in person after seeing these video presentations? It helps to screen out the actual showings too, because there is no hiding anything – if a viewer sees something they don’t like, they can save themselves a trip.

Big picture?  Eventually, the Matterport company will have a library of every house in America….but wait, it’s my listing, and I paid for the tour!

Here is Carlos describing what he does:

Posted by on Jan 28, 2016 in Bubbleinfo TV, Jim's Take on the Market, Listing Agent Practices, The Future, Thinking of Buying?, Thinking of Selling?, Tips, Advice & Links, Why You Should List With Jim | 6 comments

One-Story Wonder!

7249-ocotillo-st-001

Are you looking for a practically-new single story house with spectacular views and is suitable for multi-generational living?  A newer house (built in 2009) with ten-foot ceilings? With house and pool solar-powered? All for just $1,199,000!  Click below for video tour!

(solar is owned, not leased)

Richard and I will be doing open house this Saturday 11am-3pm!

Posted by on Jan 27, 2016 in Boomers, Bubbleinfo TV, Interesting Houses, Jim's Take on the Market, One-Story, View, Why You Should List With Jim | 3 comments

Buyer Empathy or Torture Chamber

tc

Right at the end of the radio-show video, I said that sellers should hire a listing agent who also represents buyers – my suggestion was a 50/50 split.  The host questioned the idea, and at first glance it would seem to make sense for a seller to hire a seller specialist.

Let’s review the reasons why my idea is worth considering.  Throughout the process, the listing agent’s job is the represent the sellers’ best interests – no question there.  Here’s my point:

A listing agent who has empathy for what buyers are experiencing will better represent the sellers’ best interest.

Here are examples of how listing agents who don’t work with buyers can cost their sellers:

  1.  Having to grind out a couple of extra bucks from the buyer.   Recently I representing a buyer who was trying to purchase a home from the kids who inherited it. The parents had bought it in the 1970s, so there was close to a million dollars in equity.  After a longer-than-necessary negotiation, the last volley from the sellers was to punk us for an extra $5,000 on price. There was no justification for it, and while irritating, somebody had to be the better person. My buyer reluctantly agreed to pay the higher price, but it didn’t sit well.  The minute we found one thing wrong with the house, my buyer cancelled without discussion – and I didn’t mind.  We don’t know if it was the sellers or agent who insisted on the extra $5,000, but if it was the sellers then a listing agent who had empathy for buyers could have counseled them about the hazards.
  2.  Listing agents who also work with buyers are actively looking to find their own buyers, instead of waiting for other agents to do the work.
  3.  Agents who work with buyers have seen the comps, inside and out.  They have better knowledge about why a comp sold for the price it did, especially if it was extraordinarily high or low.
  4.  Agents who only do listings don’t hear the objections buyers have about defects in general, and won’t price them accurately.
  5.  The more agents do listings only, the more arrogant they become.  They will only sell their listings on their terms, and if a buyer doesn’t like it, then too bad – no deal.  Because they have several other listings, if one doesn’t sell this week, it won’t change their lifestyle.  In a hot market, they get away with it.  But not every market will be hot forever.

Most listing agents don’t appreciate buyers, and what they have been through.  Instead, they think their job is to work them over.  But you still have to make it to the finish line, and buyers who feel like they’ve been mistreated will demand a discount – or find a reason to cancel.

The big agent teams are the hardest to figure, because they will show buyer sales on their Zillow page.  But usually the team leader isn’t doing the heavy lifting – they have underlings who handle the buyer sales.  The ‘neighborhood specialists’ who mail you every month?  All you know is that they are excellent at licking stamps – many agents get in the way of a successful sale.  Conduct a thorough investigation of the agents you are considering – at least check their Zillow page!

Why does it matter?

If your local market hits a flat spot, and you only get one offer – you want an agent who treats the other side right, so the deal sticks.

What’s the chance of that? Take a look at my 1-minute wrap-up yesterday:

Posted by on Jan 21, 2016 in Bubbleinfo TV, Jim's Take on the Market, Listing Agent Practices | 6 comments

JtR on the Radio

jim and kayla

I was invited to participate on Eran Sinai’s radio show today.

These shows go quickly so we agreed to limit the discussion to our local market, expectations for 2016, and how to select a good agent.

I mentioned during the break that it’s a good thing that the blog keeps me limited to 500 words or so, because I could ramble for hours!

Posted by on Jan 20, 2016 in About the author, Blog Talk Radio, Boomer Liquidations, Bubbleinfo TV, Jim's Take on the Market, North County Coastal | 1 comment