Last year, the inventory counts in our top three price categories hit their final peak during the third week of September, then declined through January. Buyers – if you like having more homes from which to choose, this is your week!
Click on the link below for the complete NSDCC active-inventory data:
A comparison of TV staging:
We’ve dropped off our baby at college this weekend.
She’s living in the dorms with two girls she met on Facebook. The ‘efficient’ room dimensions were known in advance, so Natalie and Mom planned well, and thanks to UCLA being extremely organized, the move-in was completed without a hitch.
Natalie is a dance major, and is one of 30 kids who got into the UCLA Dance School this year. We have high hopes for her career as a professional dancer, but as the film crew found out, there is a contingency plan:
The documentary-film crew was back in town today. They captured Kayla and I filming a video tour of our new listing in the hills of Oceanside:
Kayla’s finished tour here: https://youtu.be/CnD64tW-rGM
Thanks to daytrip for sending in this article:
http://www.bloomberg.com/news/articles/2015-09-16/would-you-buy-this-house-sight-unseen-
An excerpt:
One in five Americans who bought a home in the past two years said they had made an offer on a home they had never visited, based on a poll of 2,100 recent buyers conducted for Redfin by SurveyMonkey. People who paid more than $750,000 for their homes were particularly likely to make a blind bid, with 53 percent of them submitting an offer sight unseen. So were millennials, 30 percent of whom made such an offer.
Buyers: Are you making offers sight unseen because the top-quality online presentations, or because you know that you can always back out later?
Sellers: Are you worried that buyers are submitting offers without seeing your house, and once they do, they could back out? You should be!
Most listings only include photos of granite slabs, stainless appliances, and the latest in modern bedding.
With so many buyers making offers without seeing the houses, doesn’t it make sense to have the most complete online presentation possible? Yes it does!
What is the answer? Jim the Realtor video tours!
I’ve completed over 2,000 YouTube video tours and regularly use them to sell houses – it is the closest thing to being there.
Why?
Because of the audio. Instead of goofy elevator music, you hear my honest assessment of what you are looking at on the screen. It is healthy for buyers and sellers!
Get Good Help – hire Jim the Realtor!
Later today we are filming the ‘Making of a JTR Video’. The blog post will be here later tonight!
We already have at least twice as many realtors as we need, and now we are loading up with middlemen too – everybody wants a piece of the pie! There is an escrow company now that will input your listing into the MLS for $50, as long as they get the escrow!
These guys think they have the magic mix – I’m still not sure what it is – but they are taking it nationwide. But they will find out that somebody needs to do the actual work! Thanks to Susie for sending in this article!
http://finance.yahoo.com/news/800-million-startup-helps-pad-113000231.html#
An excerpt:
Compass cofounder Ori Allon says real estate is one of the last sectors of the American economy that hasn’t been transformed by data and technology.
He says when he talked to buyers, sellers, developers, and agents, everyone felt they were getting the short end of the stick. And when everyone feels like they are getting screwed, the market is probably inefficient.
Launched in 2013, Compass (formerly Urban Compass), has already shaken up the real estate industry in New York and DC. Now it’s raised another $50 million to expand all over the United States.
The funding raise, which was led by Institutional Venture Partners (IVP), brings total funding to $123 million and values the company at $800 million, according to a source familiar with the matter.
Allon is a startup veteran, having already sold two companies — one to Google and one to Twitter. But Compass is far-and-away bigger than both combined.
Here’s how it works.
Compass helps people find neighborhoods and places to live — either renting or buying. And while there is a sleek interface on the user side, IVP General Partner Todd Chaffee says what really impressed the firm was the agent-side technology. This tech has attracted over 350 agents to the company already, with more of half of them in New York.
Allon says what makes Compass special is that it can significantly reduce the amount of time it takes to find a home and it’s a cleaner experience than alternatives like Craigslist. Compass listings appear on a Google-like map, which also includes pictures of the homes. And if you want to see an apartment, you can schedule a viewing on Compass, which will put together an itinerary for you.
Compass acts as a broker, and the service (including fees for the agent) totals 0-15% per completed rental deal. Fees are significantly less for homebuyers, and at 6% (taken on the seller side), are in line with most high end brokerage firms.
Read full article here (watch their video):
http://finance.yahoo.com/news/800-million-startup-helps-pad-113000231.html#
Hat tip to DH for sending in this article:
http://www.ocregister.com/lansner/swimming-682657-estate-house.html
An excerpt:
“Going … going … gone! Seller will reduce price by $50,000 every day until sold,” said an ad that Coleen Brennan of Engel & Volkers ran in the Los Angeles Times in June.
The price kept dropping – in all, some two dozen times – until it hit $12.74 million on July 7, the Multiple Listing Service shows. A little over two weeks later, the property went into escrow.
While this reverse-auction type strategy is intended to create a sense of urgency among buyers, it can be risky, too. What if everyone just keeps watching the ax swing? The seller could wind up having to take the house off the market again.
But that wasn’t the result here.
On Friday, the deal closed. Sale price: $12.54 million.
Read full story here:
http://www.ocregister.com/lansner/swimming-682657-estate-house.html
Are you looking for a single level house that has some designer flair to it, without being over the top? Want the garage to be set up and ready for tinkering? Check this out!
http://www.zillow.com/homedetails/1314-Clear-Crest-Cir-Vista-CA-92084/16630968_zpid/
The year-over-year changes in active inventory is about what you would expect:
Under $1,400,000: 380 listings (-15% YoY)
Over $1,400,000: 688 listings (-1% YoY)
The average list pricing is about 5% lower than last September, except on the lower end (Under-$800,000) – which is 8% higher!
Click on the link below for the complete NSDCC active-inventory data:
The California Bureau of Real Estate has decided to clamp down on the agent teams and groups – more on it from Rob Hahn:
http://www.notorious-rob.com/2015/09/calbre-to-keller-williams-drop-dead/
