Personal experiences in the market this summer

This topic has 20 replies, 4 voices, and was last updated 16 years, 11 months ago by (former)FormerSanDiegan.

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November 19, 2007 at 9:29 AM #10941

NYer
Participant

I have been watching with interest some properties that we considered and even made offers on this summer (we eventually decided to rent).

1477 HERITAGE (Encinitas)- Listed at VRM 1M to 1.08M. We offered up to 1.05M. It closed escrow at 1.03M.

745 Rihely (Encinitas) – Listed at 1.03M. We offered 930K, and may have been willing to go a bit higher. It closed escrow at 907k.

On the other hand, we have:

10523 Abalone Landing Terrace (Carmel Valley) – Originally listed at 1.1; then dropped to 1.07. We never Bid because I didn’t think it was work more that 1M or 1.01M tops, given recent model match comps at 1.05M with better yards/views. BUT, they got 1.05M for it.

4828 Terraza Mar Marvelosa (Carmel Valley) — Originally listed at 1.125-1.150M, then dropped to 999K-1.125M. We eventually bid up to 1.045M, which I thought was too much already; he was stuck at 1.075M and would not move. I would have expected this to sit forever, but it appears to have sold so I suspect that he did eventually get 1.075M for it.

____

I don’t really take too many lessons from this small a sample size, but I thought that some “real-world” experience might be interesting to some on here.

November 19, 2007 at 10:00 AM #101138

SD Realtor
Participant

Hi NYer –

One lesson to take away from your experiences is with regards to the Encinitas home that went for 907k. When you shoot in an offer that gets rejected or perhaps you guys cannot get it worked out with the seller, have your realtor check in a few weeks later. As you see from that experience eventually sellers (well some sellers) do change thier minds and become more open after the market wakes them up a bit.

Terraza Mar Marvelosa is currently in escrow. We will see what it goes for.

Have patience…

SD Realtor

November 19, 2007 at 10:00 AM #101224

SD Realtor
Participant

Hi NYer –

One lesson to take away from your experiences is with regards to the Encinitas home that went for 907k. When you shoot in an offer that gets rejected or perhaps you guys cannot get it worked out with the seller, have your realtor check in a few weeks later. As you see from that experience eventually sellers (well some sellers) do change thier minds and become more open after the market wakes them up a bit.

Terraza Mar Marvelosa is currently in escrow. We will see what it goes for.

Have patience…

SD Realtor

November 19, 2007 at 10:00 AM #101237

SD Realtor
Participant

Hi NYer –

One lesson to take away from your experiences is with regards to the Encinitas home that went for 907k. When you shoot in an offer that gets rejected or perhaps you guys cannot get it worked out with the seller, have your realtor check in a few weeks later. As you see from that experience eventually sellers (well some sellers) do change thier minds and become more open after the market wakes them up a bit.

Terraza Mar Marvelosa is currently in escrow. We will see what it goes for.

Have patience…

SD Realtor

November 19, 2007 at 10:00 AM #101251

SD Realtor
Participant

Hi NYer –

One lesson to take away from your experiences is with regards to the Encinitas home that went for 907k. When you shoot in an offer that gets rejected or perhaps you guys cannot get it worked out with the seller, have your realtor check in a few weeks later. As you see from that experience eventually sellers (well some sellers) do change thier minds and become more open after the market wakes them up a bit.

Terraza Mar Marvelosa is currently in escrow. We will see what it goes for.

Have patience…

SD Realtor

November 19, 2007 at 10:00 AM #101254

SD Realtor
Participant

Hi NYer –

One lesson to take away from your experiences is with regards to the Encinitas home that went for 907k. When you shoot in an offer that gets rejected or perhaps you guys cannot get it worked out with the seller, have your realtor check in a few weeks later. As you see from that experience eventually sellers (well some sellers) do change thier minds and become more open after the market wakes them up a bit.

Terraza Mar Marvelosa is currently in escrow. We will see what it goes for.

Have patience…

SD Realtor

January 13, 2008 at 10:37 PM #135527

bob007
Participant

Why is that the highest bidder does not get the property ?
I have been bidding for properties in the Inland Empire. I have been beaten out in bids for bank owned properties.

January 13, 2008 at 10:37 PM #135624

bob007
Participant

Why is that the highest bidder does not get the property ?
I have been bidding for properties in the Inland Empire. I have been beaten out in bids for bank owned properties.

January 13, 2008 at 10:37 PM #135583

bob007
Participant

Why is that the highest bidder does not get the property ?
I have been bidding for properties in the Inland Empire. I have been beaten out in bids for bank owned properties.

January 13, 2008 at 10:37 PM #135521

bob007
Participant

Why is that the highest bidder does not get the property ?
I have been bidding for properties in the Inland Empire. I have been beaten out in bids for bank owned properties.

January 13, 2008 at 10:37 PM #135325

bob007
Participant

Why is that the highest bidder does not get the property ?
I have been bidding for properties in the Inland Empire. I have been beaten out in bids for bank owned properties.

January 13, 2008 at 11:24 PM #135567

SD Realtor
Participant

NYer I assume you saw 4628 terraza mar marvelosa went for 1.010M…frustrating indeed.

bob007 I am not sure why. It could have to do with the ratio of cash to financing, quality of the buyer, etc… I know it can be frustrating. Also with regards to the banks you gotta be on it man…or shall I say your agent just needs to be really active pestering the listing agent to see how many offers there are and how strong yours is. The problem is that the listing agent may bs your agent. It is a poker game.

Hang in there man. It is not like you will be squeezed out forever. There is simply to much inventory right now.

January 13, 2008 at 11:24 PM #135571

SD Realtor
Participant

NYer I assume you saw 4628 terraza mar marvelosa went for 1.010M…frustrating indeed.

bob007 I am not sure why. It could have to do with the ratio of cash to financing, quality of the buyer, etc… I know it can be frustrating. Also with regards to the banks you gotta be on it man…or shall I say your agent just needs to be really active pestering the listing agent to see how many offers there are and how strong yours is. The problem is that the listing agent may bs your agent. It is a poker game.

Hang in there man. It is not like you will be squeezed out forever. There is simply to much inventory right now.

January 13, 2008 at 11:24 PM #135370

SD Realtor
Participant

NYer I assume you saw 4628 terraza mar marvelosa went for 1.010M…frustrating indeed.

bob007 I am not sure why. It could have to do with the ratio of cash to financing, quality of the buyer, etc… I know it can be frustrating. Also with regards to the banks you gotta be on it man…or shall I say your agent just needs to be really active pestering the listing agent to see how many offers there are and how strong yours is. The problem is that the listing agent may bs your agent. It is a poker game.

Hang in there man. It is not like you will be squeezed out forever. There is simply to much inventory right now.

January 13, 2008 at 11:24 PM #135628

SD Realtor
Participant

NYer I assume you saw 4628 terraza mar marvelosa went for 1.010M…frustrating indeed.

bob007 I am not sure why. It could have to do with the ratio of cash to financing, quality of the buyer, etc… I know it can be frustrating. Also with regards to the banks you gotta be on it man…or shall I say your agent just needs to be really active pestering the listing agent to see how many offers there are and how strong yours is. The problem is that the listing agent may bs your agent. It is a poker game.

Hang in there man. It is not like you will be squeezed out forever. There is simply to much inventory right now.
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