Let’s face it, at least 90% of the current listings aren’t coming off their price much. To get a deal, you have to make offers! Here are some good tips:
The tiki destination!
We taped this during the frenzy, and I conveniently forgot about it. It may have been due to price?
It closed in April for 8% under list, which made it the most-expensive non-oceanfront sale ever in Carlsbad:
We were discussing the “mold” found by a home inspector, who wasn’t qualified to comment on the subject – though that didn’t stop him from trying to scare the daylights out of the buyer just so he could CYA.
I suggested that it was the garden-variety mildew that could be removed with a squirt of bleach and a wipe of a cloth. After all, it tested ‘dry’ and the minor stain under the kitchen sink looked like it was years old.
Of course, they asked, “What do you know about mold?”
I am running short on videos – there are fewer homes for sale, and the list of homes worthy of a video is even shorter. We saw this one a couple of months ago, and it just closed on September 16th for $3,600,000, which was $100,000 over list. Knowing that, the video might be more intriguing now?
There was at least 100 open-house attendees on Saturday, all of which were 60+ years old. The one-story homes are their own market, and likely to perform much better than the two-story segment which has at least 3x as many built, historically.
There is a mystery foot in the beginning of the interior tour in this video, and it would be a good time to acknowledge the difference made by my wife Donna.
We knew on Saturday that our client’s purchase offer was accepted, contingent upon this house selling. Between Monday and Thursday night, Donna got the home carpeted, painted, and staged by her favorite vendors – people who regularly drop everything to help her out. It is a testimony to how well she has nurtured her relationships with them over the years, and when she needs a favor, she can get one!
One of my favorite Compass agents went all out today to promote her new $15,000,000 listing – the MLS remarks:
If these walls could talk, they would speak of the fact that this estate was built by a US ambassador to Italy as a summer home for he and his family with many materials imported from Italy. They’d mention the famous houseguests, upscale fundraisers and political gatherings that have taken place here. Upon driving down the private road to the estate’s gate, you’ll be transported to Tuscany from the moment you pull in. Unlike anything else in the upscale town of Rancho Santa Fe, this home’s historic architecture is met with modern features from a head-to-toe renovation over the last two years.
This Encinitas Ranch home was listed for $3,499,000 on March 29th – which was the week rates started going up – and had no price reductions. After 112 days on the open market, they found a buyer who closed in less than 30 days (Sept.12th) for $3,390,000 cash, which was 3% under the list price.
The buyer’s dilemma: If you are like most buyers, you are turned off by at least 90% of the inventory.
There are probably only one or two listings per month that are nice enough to capture your interest – can you stay passionate in your pursuit? Will you review every auto-notification of a new listing with the likelihood of 85% to 95% of them have no chance of being a possibility for you?
For some, and perhaps for many, it will be easier to just pay within 3% of the list price for a stale old listing. Buy the house and get settled. Pour another 5% to 10% into it during the first year to make it your own.
It’s just money.
There may not be many more of these!
At the end of the video, I promised some pricing data and of course the MLS is down tonight so if you came to see list prices vs. sales prices, check back tomorrow.