It will be difficult to determine the frenzy velocity because you will keep seeing eye-popping sales that make you think that the market is still on fire.

This is where evaluating the features of each house will come in handy.  The high-value targets – great locations, big ocean views, one-story, etc. – will be the ones that still fetch crazy prices. Why? Because frenzied-up buyers care less about price when they fall in love.

For example – the highest sale this year in this neighborhood was $795,000, and Richard closed one in March for $560,000.

But they asked $919,900 for this – and it went pending after 23 DOM:

You have to gauge whether each property deserves frenzy pricing, or is just hoping to get caught up in the excitement – get good help!

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

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