My mother has been here the last couple of days, and we’re off to the airport today.  Considering that she lost her husband of 51 years in January, I’m glad to report that she’s in good spirits!

Thanks to Jeeman for carrying the blog over the weekend – let’s expand on a few of his highlights:

1.  He only made two offers.  Finding a seller and listing agent willing to entertain a lowball offer, let alone make a deal, is rare around the more-elite areas.  The combination of lower motivation and stronger kool-aid in the coastal region usually means you’ll have to make several offers before getting an audience.

2. He was willing to buy an ‘updater’.  To improve your chances of getting a ‘deal’, be willing to compromise on other aspects.  If you are dead-set on stealing a home in perfect condition in a great location, don’t be surprised if other frustrated buyers out-bid you.

3.  He was prepared.  He had been reading blogs for years, and had several formulas to use when evaluating price/value.  When his moment came to buy or not buy, he was comfortable with his price decision because he knew exactly where he stood historically.

4.  The deal was “good-enough”.  He was willing to buy even though he thought prices in general would still be trending downward.  His focus was on this specific deal being right.

5.  He had guts.  I don’t think many of today’s buyers feel like they have all the answers before they make an offer, or even after they close.  There will always be uncertainties to live with, you’ll never have all the answers – heck, you won’t know all the questions until you have lived there a while.

6.  He didn’t feel pressured to buy.  There will be plenty of opportunity over the next few years, don’t listen to those who try to talk up the market. 

Stats for North SD County Coastal detached homes sold between Jan. 1st and March 21st:

Year Sales $$/sf DOM
2001 509 $282/sf 51
2002 718 $287/sf 77
2003 624 $337/sf 61
2004 590 $415/sf 55
2005 570 $462/sf 62
2006 506 $495/sf 65
2007 474 $447/sf 78
2008 359 $454/sf 75
2009 296 $394/sf 80
2010 386 $377/sf 78

Sales are a leading indicator, but with the government bailout in full swing, we won’t know for months if any “improvement” is real or imagined – hang in there, and keep looking!

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Jim the Realtor
Jim is a long-time local realtor who comments daily here on his blog, bubbleinfo.com which began in September, 2005. Stick around!

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