Prices are moving up rapidly on the lower-end of each market. People complain that there is no inventory, but part of the reason is that sellers are pricing much higher. Buyers in the mid-to-higher-end of each market will get a smaller house or yard, but those on the...
Not all bidding wars are the same. It is critical for the agent to properly access the buyer pool - to track both the actual and potential buyers - and the intensity of their pursuit. The frenzy is not constant and predictable - get good help!
In the previous post I mentioned that when I represent sellers, I give price coaching to agents during a bidding war. What is price coaching? It is giving hints about the competing bids. Let's use the Manzanita case for an example. Once a highest-and-best offer came...
Ken compared some of today's tactics to those used at the peak: They're back after barely a decade: escalation clauses in real estate contracts, "naked" contingency-free offers and low-ball-priced listings designed to pull in dozens of bidders and turn routine sales...
Sellers need a listing agent who can handle this effectively: Becoming a homeowner may be getting more difficult for San Diego buyers. With multiple offers and low housing inventory, sellers are starting to ask buyers to submit offers without an appraisal contingency,...
Congratulations to Tom for selling his new-build in South Park! http://tomtarrant.com/modern-bungalow-sold-765000/ His timing was great - it closed for $765,000, which is probably $100,000 more than it would have been last year. Watch the house get built from scratch...
The open house extravanganza concluded today with a monster turnout - at least 110 people attended, including 18 realtors who were showing their clients - we're up to eight offers, all of which are over list price. Here we are discussing this house, and the market in...
Rancho Penasquitos is a real sweet spot for mid-range homes these days:
Here's an example of what happens when three houses hit the market about the same time in Rancho Penasquitos, and the flurry of activity that ensued:
There are more houses that aren't selling, than those that are. In a frenzied marketplace, how do you know which are the good buys? It's easy - the babbling listing agents will tell you. I always contact the listing agent and ask, "How many offers are in?". Their...
