Hat tip to CB Mark for sending this in! A few years ago, some friends appeared on a house-hunting reality TV show. They had a blast, but afterward, they revealed something that surprised me: It was all staged. They’d already purchased a house when they filmed the episode, and that house wasn’t featured on the […more]
There was a slight decline in the percentage of sales closed over the list price in May, but it matched the peak month in 2021, and historically speaking, it still sounds wild that nearly two out of three buyers are paying more than the list price when we are at these crazy-high price points. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ […more]
While the market may be calming down, there are still properties selling for well over the list price!
This listing hit the open market on April 18th, which was long after mortgage rates had gotten into the 5s. It went pending in the first ten days, but then it fell out of escrow three weeks later. By then, the doomer talk had escalated and reviving the market urgency would typically be more of […more]
We are in New York City with daughter Kayla, her boyfriend Frank, and Rob and Andrea, the sellers of the Encinitas Ranch house who relocated to Brooklyn. Here’s a tour of the home that Kayla sold them!
This is the only other sale located on the Encinitas Ranch golf course that might be considered a comparable sale, but it’s a completely different offering. The house has 5,200sf with pool on a half-acre lot – with no threat of golf balls hitting you while in the backyard. My buyers thought the price – […more]
Let’s revisit Encinitas Ranch for an example of how the zestimates will affect the post-frenzy era. Consider the ER comps since my $3,760,000 sale closed in November. This is where the algorithms should perform beautifully because there have been eight sales of similar tract houses built at the same time on similar sized lots and […more]
This is more evidence of how popular the homes with bigger yards and a pool on a culdesac are – so popular that this buyer paid $401,000 over list for this Carlsbad property:
Previously I said that buyer-agents are getting cut out of the action. There are so many reasons why: Commissions are grinding down. Buyer-agents have to sell more, to make the same $$. Working at higher price-points requires advanced skills. Can agents improve? Are you good enough to convince the buyer to pay your fee? It’s […more]
This was the Private Exclusive off-market listing that hit our intra-office website late in the afternoon and literally the next day most of the top Compass agents and me rushed over there to check it out. Both buyer and seller take a gamble on price when transacting off-market. Since this was filmed, two sales on […more]