New Era of Real Estate: Multiple Offers

Not just a local phenomena.  Multiple offers are the rule when properties are priced to attract them and professionally marketed.  Check with Heather or David for the details.  We'd love to list your home or refer you to a local expert.

Fixing Up or Selling As Is: Relevant Considerations

As in just about everything except scuba diving, it doesn't make sense to go overboard when fixing up a home to sell.  BUT, certain fixes may pay for themselves several times over in terms of attracting offers and getting maximum value.  Inman columnist Dian Hymer explains this well in Fixing to sell: Don't go overboard | Inman News. -David

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Why real estate price padding doesn't work in today's market

Answers: Because the market is not yet resilient, because qualifying is still difficult for many buyers, because listings not received well by the marketplace quickly become stale unless the price is adjusted downward.

Question: Why real estate price padding doesn't work in today's market - Inman News

- David

Preparing for a Quick Sale - from WSJ.com

Sometimes it's the simplest, most common wisdom that is best.  This is an EXCELLENT article on preparing and pricing your home for a timely and successful sale!  Sorry, the personalization must go.  Selling is about appealing to the BUYER! - David

Foreclosure glut deflates all home sales

I'm often asked whether (or why) distressed property listings and sales (foreclosures, short sales) affect the value of normal properties offered for sale under standard terms.  Here's a commentary on that topic from MarketWatch:

Foreclosure glut deflates all home sales Realty Q&A - MarketWatch

The bottom line is that the market prices homes in light of available substitutes, so distressed properties, though usually in much worse condition than other properties, definitely have an impact in the eyes of buyers, appraisers, and lenders.

Home Pricing Analysis: An Example

[A telling story of home pricing, retold in this blog due to its continuing relevance]

I recently had the opportunity to analyze the pricing of a home in the Manhattan Beach Tree Section that had been offered for sale in the current buyer’s market for over 130 days without an offer. For that purpose, and as an example of the types of analytics we can create for you in the course of assisting you in pricing a home for sale (or evaluating what to offer for one), I present this analysis below. - David