Alameda’s parade could not have been more perfect….warm but not hot, more shade than sun, moved along (no waiting), and the crowds were great! It was a bit challenging to play the drums and wave…but I did do it! This shot is on Grand Street as we rolled (drummed) our way through! Every area had such fab crowds!
Boomer-chick-musings.com Lessons from a wantabe drummer….
There seems to be a trend that properties are selling at or below the list price. Now, that doesn’t mean there aren’t exceptions, but it does seem to be the case. Check out this week’s solds.
And under the PCH (price changes) you may note that the Fernside listing owner, even though he got (I believe) 3 offers, they weren’t high enough for him…so his price change was a hike upwards. In my experience, the most expensive properties start trending down, and the the the rest follow.
What I see is the newer higher end properties are being price closer to the SOLD comps price, rather than the LIST price. If this market is changing…agents don’t want to price a property too low, since multiple offers are not quite as common as they once were, and the sellers may get that lower price (as in the above paragraph). As is seen in the previous paragraph, it is easier for a listed property to be reduced, than it is to be jacked up, after the fact.
Taking this a bit further, the higher priced properties need to be quick to bring that list price down to where it starts to see some activity (as in private showings). If this market is shifting, then the first one down will get the buyer, and the rest may soon follow that Seller’s lead. Unlike a race to the finish, it’s a race to see who gets the buyer.
The next step is the trickle-down to the mid-priced properties, and then the lower price properties. Those at the bottom of the food chain will most likely still be going up, while the higher price properties are coming down, because the lower priced properties are attractive to the most people.
We will see where it goes…for now, I’m stickin’ to this story. Hope I haven’t been too confusing!
Alameda Real Estate this week…
Broker Tour Tuesday...nine this week…I saw 6 of them via my bike!
Active listings this week 69
Pending listings this week 72
Alameda Real Estate Awards this week.…remember this is only my perspective!
Out of rehab I really don’t consider this a prime Gold Coast location, but just about 2 years ago it was sold as a fixer for 915K and now it’s on the market for 1.8M. hmmm. Will be fun to see how this shakes out.
Be well, call if you need vendor referrals..or let me know if you have a good one! I have a great handyman, a good hauler, and an excellent local mover, that my clients have recently used and have been pleased with, all within the last month.
Carry on! marilyn