There is a saying in real estate that buyers can pick two of three: Size, Condition, Location. I'm going to modify it slightly, because price should be in there. Home Buyers - Pick Two: Price, Condition, Location. If a buyer wants a home in fantastic condition and in...
The Fed came through yesterday and lowered their rate by 1/4%. It caused mortgage rates to come all the way back to....7%. This is probably as good as it will get for the next few months. The market feels fairly balanced currently, with some tilt towards a buyer's...
We've heard of the metric that measures the supply and demand in residential real estate sales. Lance called it the key housing metric going into 2025, but he is suspicious of its accuracy: A rule of thumb in real estate is that anything below a 6-month supply of...
Reader Jim G. made a couple of friendly comments on how Compass is handling our objection to the Clear Cooperation Policy. It followed what a big-mouth in L.A. said this week when he called the Compass explanation, 'disingenuous'. We're all struggling to describe the...
The conspiring events - softer market, fewer and less-experienced agents, and lower commissions - are all leading us to the same place: The destruction of the traditional model of residential real estate sales will be triumphed by the unknowing, but it will be the...
People are asking about the NAR lawsuits - hat tip to Susie, Gerry, and Carl! The lawsuit that began this week contends that realtors force sellers to pay a commission to the buyer's agent. Two defendants, ReMax and Anywhere (Coldwell Banker, Sotheby's, etc.) have...
Home flipping is all the rage, and it complicates the demand for old houses and fixers because there are more flippers than buyers pursuing them. Agents get calls, texts, and emails every day from flippers begging to buy their listings. They offer to have the listing...
April felt busy though we had no new listings (the La Costa Valley listing hit on March 31st). Thankfully, there are more to come:
A great quote about higher-end listings from this free WSJ article: Tomer Fridman, a luxury agent with Compass said the prices on some of the homes were exorbitant in the first place, so the reductions represent a long-overdue correction. “When you do a price...
There will be one overwhelming factor in selling real estate this year: Buyers Will Want To Pay Less. They are coming into every situation with that mindset. Whether it's online or in person, they will be looking for ANY reason to NOT buy this house. If they can't...
