The best part of attractive pricing is that it helps to weather the demand dynamics. We're not going to get the 22 offers we got last week, but 100+ people have seen the home, and offer #4 just arrived.
Demand is Different Everywhere
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Month: April 2023
Move to Colorado
Frenzy 2023
Fewer homes for sale than last year? Look at the differences in metro-population too: Denver: 2,931,000 Las Vegas: 2,899,000 Nashville: 1,315,000 San Diego: 3,319,000 Today, our count is actually 2,114 homes for sale (all property types) in a county of 3,319,000...
Dream For Some
People thought that this program's $300 million would last a few months. How about two weeks! I doubt the homebuyers all found homes already. Doesn't it have to be that the $300 million in loan preapprovals all happened quickly, and now those buyers are searching for...
Over List, March
We are right back into frenzy mode with more than a quarter of last month's sales closing over their list price. Was it required to win the home? Or has paying over the list price become more of a badge of honor for today's buyers? To complicate it further, look at...
Post-Frenzy Pricing
I had a long discussion yesterday with a veteran Compass agent where we got into the granular details of today's home pricing. In particular, how crucial it is to examine the past sales carefully to avoid having a one-off sale be a guide as to how much buyers are...
Procol Harum
Keith Reid passed away on March 23rd. He was co-founder of Procol Harum with Gary Brooker and they hold the distinction of their first song being their best song....after co-writing 100+ songs for the band even though Keith didn't play an instrument. Robin Trower...
More Creampuff
I had to input my new listing onto the MLS before noon yesterday to get on the broker-preview tour today, which was a day before the professional photos were completed. We had done a few preliminary photos for marketing purposes so I used those to get started, but...
22 Offers
After hundreds of people came to see our listing on Deer Canyon Place, we received 22 written offers. It makes people think that we must have deliberately underpriced it. Did we? No! Our original list price was $1,750,000, but when this larger model with six bedrooms...
La Costa Valley Creampuff
Now that we worked through the 22 offers we received on the last listing to find the winner, it's time to move on to our new listing in La Costa Valley! 2949 Avenida Castana, Carlsbad 4 br + den/3.5 ba, 2,787sf Lot size: 7,646sf LP = $1,900,000 Are you looking to live...
