This week’s examples of the hysteria in the marketplace:

Richard,

I wanted to let you know before it hit the mls that the sellers accepted another offer on Talca. Your offer did get there on time and was presented.

I have 16 offers in hand right now and have not called or emailed all people who wanted to show or write. The house was shown over 40 times. The response was overwhelming and the seller had a difficult time reaching a decision.

I will keep everything if that is okay and call you if something goes bump in the night.

Thank you for your professionalism and also your Buyers.

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On the Calzada short-sale listing, where they lowered the price from $1,579,000 to $1,200,000:

Jim,

We can’t get it to see it until Tuesday or Wednesday.  I will be having an “invitation only” open house one of those days.  When I get the date/time confirmed with the seller I will let you know.

FYI I have many offers at and above asking.  About 80% are all cash.  Anticipating submitting all offers to bank 12/10.

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Jim,

The property is tenant-occupied and I’m having trouble with access.  I have already had 30 people call to see it in the first three days on the market.

http://www.sdlookup.com/MLS-120058148-12519_El_Camino_Real_F_San_Diego_CA_92130

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This 2 br/2 ba 1,496sf condo has been on the market for over two years – went pending Wednesday.

SP = $1,500,000  6/3/2008

LP = $1,779,000 – $1,875,000  (pending)

http://www.sdlookup.com/MLS-100057844-222_Neptune_Ave_Encinitas_CA_92024

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Freeway-close 803 Ida Avenue in Solana Beach first listed in October, 2009 for $795,000:

They tried the up-down-up-down price changes, and cancelled the listing five times – but couldn’t get a buyer to stick, and gave up in October, 2011 listed at $699,900.

In a trend that we’ll see more of next year (listings not selling during the last couple of years trying it again), the same agent re-listed it for $699,900 in August, and sold it above list – $732,000:

http://www.sdlookup.com/MLS-120042334-803_Ida_Ave_Solana_Beach_CA_92075

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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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