Richard and I split the open house today – I took the second half and had a steady stream of folks until 4pm, an hour after the scheduled closing time. He had the same flow, which means there had to be 60-70 visitors.
It’s one thing to have a big open-house crowd in a coastal location off a well-traveled street. Today’s open house in San Marcos couldn’t have been more off the beaten track. It isn’t a large tract of newer homes that would naturally have good access – heck, two GPS systems couldn’t find it. If people were successful in following the 10 open-house signs, they still had to be patient enough to call for the code to open the gate.
Because this house is at the top of the hill in the back of the community, there wasn’t a lot of neighbor-looky-loos either. Instead of tourists and neighbors, we had a healthy turnout of people looking to buy.
The mass media continues to run negative but vague stories about housing in general – I forgot that I was supposed to keep count, but here are a couple from today:
http://www.bloomberg.com/news/2014-04-25/housing-in-u-s-cools-as-rate-rise-hits-sales-mortgages.html
The media loves the ivory-tower schtick, but the real test is on the street. When we have 60-70 buyers trek up a remote hill in San Marcos hoping to find a decent buy, it’s a healthy sign.
We’ve had three offers each at the last two listings, and I’m going to guess we’ll have three here too. Does a large crowd and only three offers mean anything? It means there are a few dozen people looking in earnest to buy a house around this price range, in this area!
Don’t listen to the ivory-tower babble – the market is fine.
Regardless of inventory, rates, or tight credit, all that matters is price. Are there enough buyers willing and able to sustain these prices?
All we can say – and all we know – is, “Yes, so far.” Results may vary!
Kayla will be with me 12-3pm on Sunday – stop on by!
http://www.zillow.com/homedetails/467-Silver-Shadow-Dr-San-Marcos-CA-92078/16670169_zpid/
