I inputted my new listing around 10am this morning, and the first agent to inquire must have been within a block away. Another showed it at 12:15, and at 12:40 she called me to say they are writing an offer too.
Within three hours on being on the MLS, we have EIGHT showings scheduled!
- There isn’t a demand problem.
- There isn’t a rate problem.
- There is a problem with the prices, and buyers want a break.
When buyers see a home that is completely renovated and has an attractive price on it, they literally come running – even in late October, 2022.
Will agents and sellers be able to handle the post-frenzy environment, where you MUST do all the upgrading and price attractively just to have a chance at selling?
Needing everything to go right is a HUGE gamble, because if you miss something and don’t sell in the first few days (or fall out of escrow), then you might not even get as much as the attractive list price.
If you get multiple offers, how do you decide on the winner? Buyer’s remorse is vicious now.
Get Good Help!
Most current owners live in un-renovated houses. Why should buyers get a completely upgraded house at “attractive prices”? Buyers with this mentality will be waiting a very very long time to buy in desirable NCCSD. The price of admission is high here in coastal North County, if you want a gem house too you will pay top dollar, even with 7 or 8% mortgage rates.
Most current owners live in un-renovated houses. Why should buyers get a completely upgraded house at “attractive prices”?
‘Completely upgraded’ is the sweetener that gets them off the fence in the post-frenzy era. But true, they didn’t get an ounce of sweetener during the frenzy, and sellers will look forward to those days returning some day.
If I’m in the market and have the money to buy a “renovated house,” I’m going to look for an unrenovated one and use the money to renovate it the way I want it. The odds of finding a renovated house that’s been done exactly to my tastes are practically nil.
GeneK! How ya been?? I think it’s been years!
Hey Jim, doing just fine. Still dropping in now and then because there’s nobody up here with a site like yours that looks at trends and not just at current prices.