The minute I saw this address I knew that it would have a big ocean view because I sold one in here before. It turns out, I sold this very home in 2001 for $257,000 when it was all-original (I rep’d the seller then). It has since sold for $461,000 in 2005, $429,000 in 2014, $613,000 in 2018, and $979,000 on Thursday.
My buyer is out-of-state and made the offer based on this video – and then came for the home inspection:
This had everything going for it – old-spanish, one-story, 1br guest house, and the dream workshop all on an acre-plus in the middle of town:
This looks like a miracle in the post-frenzy era, so how do you use it for a logical comp? This is a cautionary tale for the buyers looking at the house for sale up the street. It will be likely that someone will see my high sale closed and just go grab the other one without much thought as to the actual value.
And this was Buyer #2, after the cash buyer blew out after two days.
I mis-spoke about the original list price. It was $1,600,000
Have they been watching? Hat tip to Dan for sending this in!
This is the type of premium offering that has enough going for it that they should get their money. The non-pool buyers probably won’t like it at any price, but those who want turnkey with big view on a culdesac will find it hard to pass up – here’s a minute of it:
I had four showings of my new listing today, and the buyers sure seemed serious – and we might not make it to open house weekend. Here’s a quick spin around the house, plus a surprise at the end:
Our new listing across from Tide Beach Park in Solana Beach has fully-approved plans to build a spectacular Mark-Morris-designed California Modern Contemporary – or just enjoy your beach cottage!
Mark designed the La Jolla house we sold last summer at 365 Marine Street – this plan has similar qualities! Open 12-3pm this Sunday, March 5th.
https://www.compass.com/app/listing/506-pacific-avenue-solana-beach-ca-92075/1256725407327863041
(Think the market is dead? I received two inquiries in the first ten minutes!)
Careful guidance through the escrow period will never be more important – and valuable – as it is during the post-frenzy boom-and-doom!
Jessie says we are in the top 3% of local realtors, which means she is counting 16,000+ agents in the county. She doesn’t include out-of-area or off-market sales, and because we made it into the Compass Top 50, we’re hoping it might mean we’re a little higher. Stay tuned.
In the discussion today, it quickly became obvious how important it is for agents to be able to discuss scenarios and solutions. These days, a buyer-agent will just email an offer to the listing agent, and hope it gets accepted or an easy counter-offer comes back. Any tougher than that and the buyer-agents just turn to their clients and say, ‘what do you think?’ and because no other solution is presented, everyone gives up.
The wicked seller’s market during the last 10-12 years has caused everybody to expect that buyers will just pay the sellers’ price – and if they don’t, then they are called names and declared not serious. Being able to craft these scenarios into sales is where this market will benefit greatly.
It may sound simple to expect agents to discuss offer terms, but don’t underestimate how limited that opportunity is. Not only do people who are used to texting and emailing all day find it a struggle to stitch together a sentence or two in person, they usually have little or no experience with actually discussing offers and how to find a win-win solution. It’s too easy to give up instead.
It was last year when Olivenhain homes selling for $3,000,000+ became a regular occurance.
This house?
2019: $2,310,000
2023: $3,965,000 (+72%)
Here is a glimpse:
There were two new Olivenhain listings today that were priced over $5,000,000!
Are you looking for an experienced agent to help you buy or sell a home?
Contact Jim the Realtor!
CA DRE #01527365, CA DRE #00873197
