Category Archive: ‘Carmel Valley’
The lower-end newer homes in Carmel Valley aren’t having any trouble attracting buyers. This went pending on Day Nine, and they weren’t showing it the first few days. The sellers paid $799,000 when new in May, 2009, and this sale closed for $961,500 on 12/30/13 (a 20% increase):
Here is a tour of Richard’s new listing in the 92130.
There were 25 groups who came through open house today in the rain, 2 1/2 weeks before Christmas.
Sunday’s open house is cancelled, offer accepted!
More tidbits from around town:
This is mid-level pricing for a premier location near Sage Canyon:
You’d think there might be some resistance on this one, but it only took 24 days to go pending. There are 20 houses for sale under $1,000,000 in the 92130, and 19 have closed in the last 30 days:
If you are buying, look hard at what’s being offered:
There hasn’t been much hesitation around Carmel Valley, though the designated school, Ashley Falls, had to help this sale. An inferior model-match closed for $975,000 in February – but this still went pending within 7 days:
It is natural for home sellers to resist lowering their price.
No matter what the evidence is, we want to believe that there has to be other alternatives. The blame game usually starts early too, and virtually everyone makes the list:
1. The agent isn’t doing enough.
2. The government.
3. The Fed.
4. The Democrats.
5. The Republicans.
6. The Padres.
7. The Chargers.
8. The wife and kids.
9. The dog.
10. The ‘market’.
Sellers are usually so resistant that when confronted with lowering thier price, they won’t even ask why. For those who do, here is the answer:
This house is within the vaunted 92130 zip code, but on the east side and in the Poway School District – where you can save a bundle of money, comparatively.
Similar houses that are further west (and half the distance to the I-5) and in the DM/SB school districts are at least 10% to 20% higher-priced – yet this isn’t selling (DOM = 43). Apparently the inferior-home gap needs to grow: