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Kate’s New Listing

Impeccable and chic, this incredible gated custom Encinitas estate offers modern living in a central location and a life of leisure. An entertainers paradise bursting with a luxurious and smart design, the home comes complete with its own detached guest house retreat. Across its 1.24-acre lot, discover winding pathways lined by manicured grounds, lush landscaping, and palm trees outlining the perimeter. Admire the tasteful fusion of massive windows, stone, stucco, and IPE wood design elements characterizing its exterior, inviting you to explore inside. Upon passing through the captivating, covered entry, step into an immaculately crafted interior defined by soaring ceilings accentuated by thick wood beams, beautifully matching the exceptional millwork on show. Appreciate the gorgeous, engineered wide-plank white oak flooring and crisp white tones. Multiple windows with custom treatments allow radiant sunlight across the casual and formal gathering areas, creating fabulous spots for entertaining. From the sunlit great room with a sophisticated fireplace to the dining room that basks in stylish lighting’s glow, plenty of extravagances await your lucky guests. Newly remodeled to please the most discerning of cooks, the chef’s kitchen highlights Gaggenau and Miele appliances with a steam oven, quartz countertops, matte black cabinetry, and an oversized island.

Relax in the well-sized bedrooms, topped by a grand primary suite graced by its own fireplace and double walk-in closets. Escape the day’s stresses in its renovated, spa-like ensuite with heated floors, a soaking tub, and a large shower. Whether you’re hosting get-togethers or spending your weekends leisurely, you’ll have an array of bonus rooms, including a game room, sports areas, and a gym. Among the best places to relish the breathtaking ocean panoramas are the balconies, each overlooking a unique angle of spectacular scenery. For a resort-style outdoor experience, the fully fenced backyard treats you to a 13′ saltwater pool!

Carmel Valley Pacific Highlands Ranch

Our new listing in Carmel Valley! Open 12-3 this weekend.

Check out this attractively-priced Portico home with fully remodeled kitchen, hardwood floors, 3 bedrooms + loft and downstairs den, sumptuous primary suite with two walk-in closets, and upstairs laundry room. New paint and carpet, private yard, and cool front porch to watch the balloons go by! Live here and send your kids to Solana Ranch Elementary School – verified with the school district on Nov. 16th. The community pool/clubhouse is like a 5-star resort! It’s a good distance away from Carmel Valley Road too. This model sold for $2,086,000 on May 9th. Look at the savings – our list price is 20% off, and the 30-yr jumbo rate is back down in the 5s! Fed governor Bullard said today that the Fed Funds rate might have to go 1% to 3% higher. This home is the best discounted price/low rate combo you’ll see in the next 1-2 years! Only $1,675,000.

iBuyer Loses $600,000

This ibuyer was new in the game and was hoping to make a splash.  Somebody there should have known in June of this year that the frenzy was wrapping up before investing $2.5 million cash into a 20-year old basic tract house on a busier street on the fringe of La Costa Valley.

My advice has been clear all along: Spruce ’em up nicely, stage it, price it attractively, and hire me to be your agent. If they would have just done some of those things, this would have turned out better.

Instead, they did no improvements, priced it for what they paid, put it on the MLS as a coming-soon listing before they actually owned it, and then did SEVEN price reductions and THREE listing refreshes before closing escrow today for $1,900,000.

About 1-2 months ago I asked the listing agent if they would take $2,000,000 cash, and he said that the offers were coming in higher than that so….no.  And then they close for $1,900,000. This is where the jimjamalama really pays off for sellers!

Frenzy Cruise 8

There probably aren’t many people today who expect to see any frenzy left in the marketplace. But here’s a view from the street, looking at actual sales closed over the last 30 days.

At 22 minutes, this turned into a full-length feature film (sorry), but consider it an audio track about the current market conditions, with video evidence to support it.

Bedside Manner

I don’t mind a home inspector bringing up every detail – what matters most is how they present them. We call it ‘bedside manner’; like the doctors who are able to tactfully tell their patients the truth in a way that they gently understand and accept.

After this sale fell out of escrow, the key positive was that we had 100% clear mold remediation, unlike every other house for sale (because buyers rarely test for mold). Yet when today’s very soft and afraid buyers hear the m-word, they run for the hills, instead of sensing an opportunity. We closed the second escrow at $50,000 under list, instead of $300,000 over.

Encinitas Gated Culdesac 4-Car

This home listed for $3,595,000 but didn’t have any takers over the first five weeks.  They ‘refreshed’ the listing (let it expire and then relisted as a new listing), with a lower price of $3,445,000 – a discount of 4%.

They found the buyer a week later who paid $3,400,000 cash. I’m not sure if it was the lower list price that caused it, or the refresh?

Price Dumping As A Strategy

By now, it’s obvious that I’m a proponent of attractive pricing that creates instant urgency and a quick sale. Those who can properly handle a bidding war can work with the contestants to find top dollar, and I’ve found that it’s literally easier to go up on price, than down.

The more traditional plan of pricing high with the idea that “you can always come down later” has been the pattern for so long that most people don’t even question its effectiveness.

Here is a classic example – even after dropping from $2,995,000 to $2,199,000, it took another two months before they found the buyer, and more discounting before they settled on the sales price:

You can spruce up the house (for best results, do everything) and price attractively to create maximum urgency and sell for top dollar quickly, or you can do nothing, list for a retail price, and let the market have its way with you.

Either way, you still come out with money!

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