Tom saw that Stewart had a new banner on Redfin, and he wondered if I refreshed the listing on the MLS. I didn’t, and when I checked, the other listings nearby that have been active for months had the same look:
Buyers are probably smart enough to figure it out. But in case it brings more eyeballs, we lowered the price to $989,000 and we’ll have open house 12-3 on Sunday! Three other listings within a couple of blocks of us went pending in the last week, so it’s been hopping in South O!
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The same thing happened to Richard, so maybe it is system wide?
He also dropped the price, ($1,299,000) and NO OPEN HOUSE – PENDING!:
People are starting to realize that housing bubble 2.0 has peaked and air is coming out.
Sellers will be lowering prices like mad over the next several months.
Stop cheerleading and be honest with people.
Stop cheerleading and be honest with people.
Haha you’re funny.
Go back and read the last 7,500 blog posts before you pop off.
Hey Jim, What do you think about 14645 Arroyo Hondo and 7764 Doug Hill Court that just slashed 200k and 400k from the list price in the last few days? Marketing ploy? or panic setting in?
You may remember that I sold the house two doors down on Arroyo Hondo (2x) so I’m familiar with those – huge tract houses that are not in Santaluz so there is a lot of superior competition. The owner is a former MLB star who paid $1.1 – just the type of seller who can drop his price and still win. There have been six sales in there this year and all closed in the $1.3s and $1.4s and though the former model homes were decked out originally, they are somewhat dated today and the location in the tract isn’t the best. Looks normal to me. Similar at Doug Hill.
General rules of thumb that apply to all markets:
1. Over-sized McMansions are out.
2. The Tuscan look is out.
3. Inferior locations are out.
4. Dreamy list prices are out.