Parkinsons and Golf

We lost another escrow yesterday.

The first-time home buyer saw the article above and cancelled immediately.

https://www.newsweek.com/parkinsons-disease-linked-golf-courses-new-study-2070602

This is what our society has become – just believers of headlines. I read the whole article, and it only took one minute to find how the study was conducted.

It’s based on groundwater samples taken in Wisconsin and Minnesota!

NONE of our drinking water around here comes from groundwater wells!

The reporting gets worse.

The Newsweek article states that “California had the highest number deaths with 4,289”, with no mention of the difference in population.

We can’t get caught up in the hysteria.

I told the seller that buyers are going to think we are damaged goods after two cancelled escrows, and even though all three offers received were higher, they don’t mean anything today. Let’s lower the price again to keep the urgency up:

At our previous list of $1,150,000, any new offers would probably start at $1,100,000.

We’re going to burn the $25,000 one way or another, so let’s lower the price to $1,125,000 and get our money’s worth. Buyers will probably still start at $1,100,000.

Then we scheduled open houses for Friday, Saturday, and Sunday too, which should provide some FOMO.

As the listing agent, I’m going to recommend bold and decisive actions be taken by sellers to differentiate us from the rest of the pack.

This is the new market. It’s way different than during the covid frenzy when buyers always stuck because they were just glad to win the bidding war and get their 3% mortgage. Today, buyers are skittish and look for ANY reason to stay on the fence.

Your agent needs to know what to do! Get Good Help!

Link to listing of 2302 Birdie

NSDCC May Sales vs 2024

Between the tariff calamity that is still a long way from being resolved and Jamie Dimon calling the markets complacent, you would think that The Big Wait would come naturally and home sales would be slowing considerably.

In addition, most homes for sale aren’t selling, and the doomers are out in force!

Yet, look how this month’s local home sales are ahead of last May:

There will be sales from yesterday that get recorded today, plus late-reporters, so I used the data from May 1-18, 2024 for last year’s sales count to get a comparable sample set.

Is there any alarm for the individual areas?

It looks like the sales distribution is ok for now. Hat tip RSF!

Apparently, there have been affluent buyers ignoring the over-supply of homes for sale and the rest of the chaos who are paying enough to make sellers happy!

Inventory Watch

Of today’s 156 pendings, there are 100 of them that are priced Under-$3,000,000, which would make you think the inventory struggle might be a higher-end thing. But as you can see below, the number of active listings Under-$3,000,000 keeps climbing and is well ahead of last year’s counts too.

No changes are expected.

Sellers will let it ride and hope to get lucky. Buyers wonder if prices will drop.

The graduation season is underway, which is a welcome distraction for many. Then people will start going on vacations. Mortgage rates will stay high, and might go higher.

Creating any momentum or urgency will be exceedingly difficult.

The Big Wait is upon us, and likely to stick around!

(more…)

Buyer-Broker Agreements, 2025

J-Opp owns and runs a brokerage so he has to say buyer-broker agreements are mandatory, but the Coldwell Banker and two Compass agents aren’t as committed.

I think the buyers will prevail here and not be signing contracts with buyer-agents much until they find a house to buy – nobody else sees it until then! It helps demonstrate how the only thing worse than being a buyer in the enviroment is being a buyer-agent.

Zillow Offer Advice

I saved the clip above from the Zillow ad of my Escondido listing.

I appreciate them trying to do something to nudge buyers closer to making an offer. Their suggestions are just common sense – if you offer close to the list price, you’ll probably get it!

But I hate the bait-and-switch they do underneath it.

The ‘advice from an agent’ is a licensee who is paying 30% to 40% of their fee to Zillow – which means the buyer-agent fee will be higher (which the buyer is paying one way or another). The advice comes from an agent who hasn’t seen the house, or knows anything about the situation.

I really hate their promise to show the home ‘as early as today at 3:00pm’.

They haven’t run that by me or gleaned it from the listing. It’s when they might have a licensee available – maybe – and yet it makes you think you could see the home within an hour or two. It guarantees disappointment when the buyer finds out they can’t see it that fast, which reflects badly on the home – and it’s likely the buyer will just skip it instead.

We should insist on better treatment of buyers. It’s tough enough on them already!

YouTube History

Like most empty-nesters, I spend a little more time on the internet. Last night, I dug up my history on YouTube, which started almost 20 years ago!

Having over 2 million views is incredible, and I appreciate the recent resurgence.

But I only dream about getting the thousands of views like during the foreclosure days.

This was the video that ran on February 8, 2009 that got over 10,000 views that day and caused the purple spike above. Two months later I was on the front page of the L.A. Times and then on ABCNews Nightline! Those were the days!

I’ll keep them coming!

U. S. Small Towns

What makes a town beautiful? The answer is, naturally, subjective.

Perhaps you have a penchant for windswept coasts. Or, maybe you love historic architecture. Do you favor human-made elements or natural scenery? To offer a glimpse at a variety of gorgeous places around the U.S., we considered destinations from coast to coast.

Here are 20 of the most beautiful small towns in America, all with a population under 20,000.

https://www.travelandleisure.com/most-beautiful-small-towns-in-the-united-states-7099980

Pin It on Pinterest