Special offer

Do Falling Leaves Equal Falling Prices?

By
Real Estate Broker/Owner with Charlemagne International Properties BRE# 01147470

Back to School ads are in full bloom.  Fall cannot be far behind.  I've also noticed an increase in those little red downward pointing arrows next to listings on the MLS daily hot-sheet.  Those arrows indicate a price reduction. The deciduous trees are holding fast to their leaves as August reaches mid-month, but sellers appear to be offering late summer sale prices on more than a few homes in Palos Verdes and the Greater South Bay Area.  Perhaps they are attempting to nudge a few late summer buyers into action.

 

Often, a minuscule price reduction creates a major reaction.  I recently reduced a property's list price by less than 2% and received an offer within a few days; the agreed upon price we negotiated was within 1% of the new list price. 

 

 Sometimes, the seller must make the first move.  If your listing is languishing on the MLS during the dog days of summer, maybe it's time make the first move by reducing your price and invite the buyers to dance.  You never know, a buyer may be watching your home from afar, and patiently waiting for you to make the first move.

Norma Toering - REMAX Palos VerdesNorma Toering & Team RE/MAX Palos Verdes Realty
(310) 493-8333 / Office Phone: (310) 831-0800

PalosVerdesLifestyle - Nominated by Relocation.com as one of the top ten Los Angeles area real estate blogs. Ranked by Technorati in the top 1% of all blogs. As seen in the Daily Breeze newspaper.

South Bay Los Angeles cities I sell real estate, property, houses and homes in: Palos Verdes Estates, Rolling Hills, Rolling Hills Estates, Rancho Palos Verdes, San Pedro, Long Beach, Torrance, Lomita, Redondo Beach, Hermosa Beach and Manhattan Beach. Information is deemed reliable but not guaranteed.


Find Norma on: Facebook - Twitter - LinkedIn - Email Norma

Search for Homes in Palos Verdes California on Toering and Team.

Listing a Palos Verdes Home - Sell My Oceanfront Home
Palos Verdes Horse Property - Palos Verdes Realtor Blog
Boitano Palms Lots for Sale - Homes with Views in Palos Verdes
Palos Verdes Coastal Homes - Palos Verdes Homes
Palos Verdes Photography - Palos Verdes Videos

Comments (7)

Harrison K. Long
HomeSmart, Evergreen Realty - Irvine, CA
REALTOR , GRI, Broker associate, Attorney

Norma ... Some of our buyer clients here in Orange County want to know how long the home has been on the market and whether they have had a price reduction.  The thought is that a deal might be in the works if there is a price reduction and that the buyer can drive the seller down even more.  Buyers want good deals.  Owner/Sellers continue to have high price expectations.

Aug 11, 2010 05:48 AM
Norma Toering Broker for Palos Verdes and Beach Cities
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes Luxury Homes in L.A.

Buyers want to know a seller is motivated and nothing makes that clearer than a price reduction.

Aug 11, 2010 06:02 AM
Patricia Kennedy
RLAH@Properties - Washington, DC
Home in the Capital

Norma, I don't think the season matters as much as the price of the house to begin with!

Aug 11, 2010 09:36 AM
Will Nesbitt
Nesbitt Realty at Condo Alexandria - Alexandria, VA
Nesbitt Realty is a family-run brokerage.

Price change with the weather? Hm.... I'me beginning to think so.

Aug 12, 2010 05:51 AM
Carra Riley & Declan Kenyon
Brokers Guild Cherry Creek Ltd - Westminster, CO
Helping people Transition at all ages!

Norma ~  I think that change in marketing is important.. giving agents a reason to dial or forward information to customers!  Whether it is price, terms or condition.

Featured in Cosmic Cow Pie

Cosmic Cow

Aug 12, 2010 08:21 AM
Robert L. Brown
www.mrbrownsellsgr.com - Grand Rapids, MI
Grand Rapids Real Estate Bellabay Realty, West Mic

Location and price set the tone. Condition follows closely behind. BTW a very good post.

Aug 13, 2010 12:52 PM
Brian Madigan
RE/MAX West Realty Inc., Brokerage (Toronto) - Toronto, ON
LL.B., Broker

Traditionally, the Toronto market sees two highs, one in the Spring, usually May, and one in the Fall, usually October.

The market declines over the summer, but the Fall high is very close to the Spring number.

Aug 15, 2010 04:20 AM