[quote=CA renter][quote=bearishgurl]
I agree that the “under 40” generation (maybe even a little older than that) typically does NOT want mom and dad’s 50’s to 70’s rambling ranch or large two story on a large lot. They’re not wired for CAT-5 and the under 40 crowd, in particular, cannot envision what the place would look like with a minor or slightly major facelift and xeriscape (to save water). It seems they would rather live further out of town in a “planned community” and pay MR and HOA. This is sad to me because most of these large suburban houses in CA to be dumped by downsizing baby boomers and even depresssion-era owners (born abt. 1930-1945) in the coming years are situated on large lots in some of the BEST and FINEST locations in the state which can never be duplicated :={[/quote]
As buyers who are looking specifically for a ranch style home on a large lot, I can assure you that there is LOTS of demand for these homes. We can’t even get our foot in the door when one of these comes up, as there are always multiple offers and plenty of buyers who are more than willing to pay premium price (even above “peak” prices) for these homes.[/quote]
Don’t fret on that CAR. A lot of these properties are falling out of escrow constantly. The property we are buying is one of these ranch types and we had it fall into our laps after falling out of escrow 3 times for what we would call trivial reasons. The house we bid on before as a low ball had “multiple offers” but magically they all fell through.
It also seems that a lot of realtors are playing games saying there are multiple offers coming in but they never materialize. We would just tell them “Sorry, we don’t want to get into bidding wars.” then hear back not even a week later saying there were none and to submit ours. There’s a lot of gaming going on but a lot of good properties popping up daily.
