It was 18 years ago today that I started writing this blog.
It was a Saturday morning. I set up a free account at squarespace to get it started, and it was solely because I expected every other realtor to do a blog too. Funny how that turned out!
Donna said, “Yeah well fine, just don’t spend too much time on it.”
I’ve been a part-time blogger ever since!
It was in August, 2005 when our escrow officer called me to say the buyer of one of our listings was objecting to signing the loan documents. Their realtor/lender beat me over there, and I heard her telling the buyer, “No worries, we will refinance”. It was one of many things that were happening then that led me to start the blog (the home got foreclosed 22 months later).
This is my first blog post, and it still resonates somewhat today:
Housing blogs were becoming popular and I commented regularly elsewhere. It caused more people to discover what I was doing – and to slam me just because I was a realtor, even though I was being pretty gloomy. By 2009, I had picked up quite an audience, and enough attention that the LATimes picked up on the blog, which led to this piece by ABC News Nightline:
The ABC TV spot ran in April, 2009, which coincidentally was the trough of the San Diego Case-Shiller Index. The audience here exploded, and at the same time the bank-owned listings being sent to us increased substantially. We sold 72 homes in 2009, our all-time high!
All kinds of crazy things have happened.
For example, we monitored the Jenae scandal in Bressi Ranch and La Costa Valley where she and co-conspirators were doing seminars and selling homes to unsuspecting suckers who financed their purchases 100%. Jenae promised to rent them out but they were adding $100,000 to each purchase price that was kicked back to her partner John as a tenant-acquisition slush fund. He finally went to jail but Jenae claimed she was duped too and she is still selling homes around the county today.
My life was threatened a couple of times, I’ve evicted dozens of people, I’ve been in a movie, and on CNBC TV (twice), plus I’ve been on ReasonTV, and in Grant’s Interest Rate Observer (on October 3, 2008 for those who have access). I’ve been on industry panels, I’ve been an expert witness in court, I made a citizen’s arrest of squatters, and I’ve met with the FBI to turn in scamming realtors…..among other things!
I’ve had 12,101 blog posts here with 68,179 comments and 3,000+ Youtubes with 2,341,000+ views, plus 14,200+ tweets. It has been one heck of a ride – let’s keep it going!
Thanks to readers everywhere, and a special acknowledgement of those who have utilized our real estate services over the years. It is why I do this blog, and I appreciate your support!
The fam is back together in New York City for Natalie’s next show tonight at the Met-Life Stadium! Grateful to be enjoying what could be a once-in-a-lifetime gig for her – how many concert tours are there of football stadiums around America? Full report of the show to follow.
Madison Square Garden at bottom and Empire State Building
Are you wondering what it is like being a buyer these days – and how we can asisist you?
This is a good example. Our buyer above made offers on seven different homes over the last year before winning the right home, at the right price. We survived a five-offer bidding war when the sellers accepted our offer of $1,340,000, then we worked them down by $50,000 after our inspection.
At $1,290,000 for 1,801sf, I think it will be one of the better buys in Carlsbad this year:
We took four listings in a row and I was going to document the whole experience but it was turning into a feature-length movie. Here is the segment where we discuss the bidding war in Rancho Penasquitos, its failure, and how we handled the aftermath:
I was going through some old footage and found these – and I’m not sure they’ve been seen before:
For those who don’t know, our daughter Kayla worked worked with us for five years before moving to Manhattan in 2018, where she’s a realtor. Here is her Instagram account (she is a great agent!): https://www.instagram.com/kaylaklinge/
She’s been doing real estate videos for ten years!
Are you thinking about selling your home and are trying to identify the strategies used by listing agents to get you top dollar with minimal inconvenience?
Are you finding that agents aren’t real specific about how they do their business, and just want you to trust that because they sold houses in the past that they can do it again?
Here is my specific strategy to achieve top-dollar sales with minimal inconvenience: 1) Do a minor tune-up of the home prior to hitting the open market, 2) Price attractively, 3) Make the home easy to see via the open-house extravaganza, 4) Allow all buyers to bid it up, 5) Treat buyers and agents with respect and deliver full transparency that encourages participation.
Here are the results of our last 25 listings:
None of these were priced artificially low to generate a bidding war. When a property is ‘attractively priced’, it means the presentation is worthy and it causes buyers to want to see it in person.
I have not come across any agent who sells homes like I do, and rarely do I ever meet an agent who has any strategy about handling multiple offers.
It happened again yesterday – the listing agent said on the phone that he had 3-5 offers, so I asked how he planned to handle it. Literally, he said, “I don’t know”, to which I replied, “How about doing a highest-and-best round?” He said, “Well we will probably counter the best 2-3 offers”.
Why he would eliminate any buyer is beyond me – I always counter every buyer because who knows how much higher they might go when asked.
In further discussion, he made it sound like none of the offers received were full price, and later I sent him a text that we were sending in a full price offer. Two hours later, he sends a text back that said, “It sounds like the seller wants to move forward with the first offer he got”.
This is the standard procedure in the realtor business – just grab one.
If your listing languishes on the market, it gets worse. Even the chief economist says so:
You want to sell early – during the first week on the market – when urgency is highest, and not languish for weeks or months just to take less later. In case everything goes right and multiple offers are received, you want an expert who creates a proper bidding war. In 2023, when buyers are more tempted to cancel and move on, you want your escrow handled in a way that it closes successfully, and on time.
Your eventual sales price can vary 5% to 20%, depending on your listing agent.
