It’s been a busy fall season in our local real estate market, with many serious buyers still actively watching for an opportunity to bid on their dream home. This has meant many of the homes we’ve recently listed attracted multiple buyers, went pending quickly, and closed for a final sales price above the asking price.
Who are these buyers?
Some are families ready to move out of San Francisco to take advantage of our wonderful schools. Others are locals who are looking to move up to larger homes, or reduce square footage.
All have one thing in common: They’re smart buyers ready to move quickly when they see the right property come on the market.
Above all else, they’re not going to buy just anything at any price. So don’t be fooled into thinking anything goes.
Real estate fundamentals remain the same – location is critical, and so is showing a property to its best advantage. And, above all else, the price has to make sense for our market and the particulars of a home. Where we see problems arise is when a property comes to market compromising on any of these points, so we never do.
The proof is in the success of our five recent sales transactions in Lamorinda:
- 974 Janet Lane, Lafayette. Listed at $899,000, sold for $1,040,000 — 15.7% over list, with 6 offers.
- 3222 Los Palos Circle, Lafayette. Listed for $1,499,000, sold for $1,718,000 — 14.6% over list, with 9 offers.
- 3868 Campolindo Drive, Moraga. Listed for $1,060,000. Sold for $1,225,000 — 15.6% over list, with 5 offers
- 258 Sundown Terrace, Orinda. Listed at $1,800,000. Sold for $2,100,000 — 16.7% over list, with 6 offers
- 5 Chelton Court, Orinda. Listed for $949,000. Sold for $1,069,000 – 12.6% over list, with 7 offers.
What’s on the horizon?
While we may still see a new property come on the market in the final weeks of December, what we can tell you for sure is that sellers are talking to us right now about their 2014 real estate decisions. This is good news for the recent buyers who have been disappointed in multi-bid situations.
Meanwhile, new buyers are coming forward. They’re working hard, becoming more educated about market conditions and getting their finances in order to be ready to compete, too.Why now? We’re months from summer, but kindergarten registration for 2014-15 begins in late January.
What are your 2014 real estate goals? Whether you’re planning to sell, buy, or both, it’s never too early to reach out. Contact me directly at 925.339.1918 or Dana@DanaGreenTeam.
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