Ken compared some of today's tactics to those used at the peak: They're back after barely a decade: escalation clauses in real estate contracts, "naked" contingency-free offers and low-ball-priced listings designed to pull in dozens of bidders and turn routine sales...
The most common problem in negotiating offers is people winging it. The process is very predictable - the longer the negotiations last, the less likely a deal will come together. Conversely, if you know the boundaries, you can formulate a strategy in advance instead...
MB Mike asked a follow-up: In terms of timing, what does your crystal ball say 2014 will bring? Better to wait a year to sell? Yes, wait if general market conditions are your guide. Real estate is reported as 'up' or 'down', and it will be 'up' for a while. The media...
There are more houses that aren't selling, than those that are. In a frenzied marketplace, how do you know which are the good buys? It's easy - the babbling listing agents will tell you. I always contact the listing agent and ask, "How many offers are in?". Their...
You know the market is competitive, you've lost a bidding war or two, and then it happens - a hot new listing pops up that is right in your wheelhouse. The thought occurs to you. "Maybe I should buy direct from the listing agent?" First, let's identify how often this...
The real estate selling season commences once the Super Bowl holiday weekend is over. What can you expect, and how can you prepare yourself for buying and selling this year? Low inventory - With no foreclosures and very few short-sales around NSDCC, the inventory of...
Here's a seller who is fortunate to have a neighbor lend a hand: With low inventory and frenzy conditions, sellers should capitalize on the opportunities presented by neighboring OPTs!
Are you planning to move this year? Get good help! Tips for finding the right agent (and a blatant pitch to use me!). 1. Bidding Wars - Whether you are selling or buying, you need an agent who has ample experience with handling a bidding war. If you only ask one...
It sure seems like a frenzy when you hear about the lowest rates ever and Southern California median prices going up 17% year-over-year. But there isn't a rising tide that's floating all the boats higher - lots of homes aren't selling. It would be simple to say that...
A blog reader asks: I wanted to get your thoughts on pricing. As you mentioned we are up 17%, though wages are not increasing. Low rates, foreign buyers, and lack of inventory (whether artificially created or organic) are keeping things afloat. Do you see any kind...
