Forget the price point, it’s the deal-making that is interesting about this case. The sellers of this home just acquired it last week as part of a home swap, and before closing I had arranged for vendors to do a quick tune-up. We hit the ground running, and $10,000 worth of new carpet, paint, and lighting got it ready for market in a week.
It listed for $398,000 on Saturday, and yesterday the model match across the street (listed for $392,000) went pending. It came back on market today, and they raised their price to the range $395,000-$405,000.
What do we do?
Lower our price to $389,000 – we want to be the next one to sell:
This is a tour of the Robin Williams’ $30 million Napa estate. The video is quality – a clean presentation of the stuff you want to see, and the drone work is fantastic. It’s only 1:53-min. long.
There is a 15-sec. commercial, which I try to avoid. But the rest is worth it!
There has been three categories of listings lately:
1. New listings that sell at or around list price the first week on the market.
2. Those that sell months later as price reductions finally intersect a rising market. In a slowing market (like we have now) pricing loses momentum quickly as buyers get more confident.
3. Those that don’t sell.
It’s going to get more obvious to sellers as showings slow to a crawl or less – if they want to sell this year, they need to lower their price. But hey, great news – those who are willing to sell for a price at the comps – or slightly under - should find takers.
With my content further diminished by the drone crash, I’ll be finding my way to new topics. Hang in there!
Yesterday’s search and rescue efforts were suspended because of darkness, but a second effort was launched today. The drone was recovered, though worse for wear, and the video of the last flight was corrupted, unfortunately:
The drone took its own life today.
It was bound to happen. I never got the calibration right, and the drone lost control and crashed about half of the time lately.
It was great while it lasted!
Kayla and I saw this house on broker preview day in May, and filmed this for a potential buyer. It has since closed for $3,050,000 cash last month, which shows how Del Mar Terrace is getting more love these days!
I said in the video that you’d be seeing some dazzling sunsets, but, if so, it would only be in the winter that you’d see the sun actually set:
Snippets of things happening around town. There’s a guy in here who could use your help – if you can do anything for him, he’d probably appreciate it:
The full tour of mostly Chevys below!
The non-gearheads can repeat the first Kayla’s Korner video (she does has more than one outfit):
As prices rise, the inferior locations are the first to feel it – although this is an extreme example. But hey, it’s Carmel Valley!