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...
Just a quick reminder of the constant grift in real estate. Before the listing was entered onto the MLS: After the MLS listing was inputted - at least they didn't recreate the history graph.....yet: ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Before the listing...
I had another 80+ people attend my open house on Sunday, and a total of more than 200 people for the weekend. Virtually everyone who came was older, and the overwhelming message was that the buyer pool for one-story homes is large and they are hungry for product. We...
Are you waiting to buy a home until you can get a sizable discount? Is it because you know a guy who will give you a deal on any home improvements needed; you've got your eye on some new appliances down at the scratch-and-dent outlet; and you were thinking about going...
Chris asked how the current environment compares to the 2008 downturn. In the summer of 2008, there were only 601 NSDCC sales between June 1st and August 31st, in spite of there being 1,348 listings that summer. For the next two years, the number of listings far...
The wildcard on pricing is that every potential seller has sufficient equity to dump on price if needed. Why a seller would give it away when there are so many other alternatives (renting, reverse mortgages, hard-money loans, etc.) is beyond me. Even flipper...
It is a true honor to have listed for sale my favorite home of all-time! 365 Marine St., La Jolla 3 br/3.5 ba, 2,894sf YB: 2018 LP = $6,950,000 This custom contemporary was designed and carefully-crafted for over three years to be the ultimate beach house just 100...
I don't care what color he's seeing, if he sells his tony golf-course estate today and thinks he will buy it back later for less, he will be in for a rude awakening. Without foreclosures (now mostly outlawed in California) causing banks to give away homes, there won't...
When thinking about selling, homeowners (especially the long-timers) complain about paying the capital-gains tax on their net profit above the $250,000 exemption per person. With the rapid escalation in values lately, it has turned into a six-figure tax for many!...
