Everyone knows some neighborhoods are more popular than others. They have the wow factor working for them in obvious ways such as superior schools and locations. On the other hand, sometimes a neighborhood's popularity is judged in less tangible ways. The hip and cool factor is more difficult to measure, but buyers pick up on it right away. 
Maybe it is the Prius lined driveways, high tech baby strollers or the evolution of the 1950s ranch home into the green abodes of the 21st century that makes young home buyers say, "This is the where we want to live." Whatever it is it is working well.
Perhaps it is simply "Popular Personality Syndrome" the it factor that makes others want to join the in crowd. Maybe it is the sense of belonging or a good match. Whether we can define it or not, it exists, and buyers are willing to pay a premium for homes in such a neighborhood.
On such home came on the market a week ago today. There are currently three offers and counters are due back today. Three buyers, one home. Being popular pays dividends.
Norma 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.
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Norma Toering & Team RE/MAX Estate Properties
(310) 493-8333
PalosVerdesLifestyle- Norma's award winning site as the best Palos Verdes homes and real estate blog since 2007. Selected by Relocation.com as one of the top ten Los Angeles area real estate blogs. Chosen by MovingCost.com as one of the best Los Angeles realty blogs. Awarded 5 out of 5 stars by Lender411 blog review. 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. Based on information from the Association of REALTORS®/Multiple Listing as of the initial date of this article/blog publication and /or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
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19 Comments on Some Houses Get All the Offers
That sounds like a Rod Stewart song Norma. You're right though, some houses just have that "je ne sais quoi" about them that attract buyers. It's our job as agents to figure out what is so attractive about them and apply that formula to our own listings when we can.
There are intangibles in this emotional world of "choice", that's for sure. Saavy post!
Location, location, location. That's the only one thing that can withstand any economic pitfalls. Thanks for sharing.
I would like to be ON THE LIST for those homes, I would be a GREAT listing agent! We all have to hope for a just a few like that!
Malcolm - You're right--maybe you're on to something and I should set it to music or have my son do it--he's the musician in the family. Never hurts to have another income stream...
Li - Sometimes it is obvious and other times it is more subtle but we all know there are homes and neighborhoods that simply have IT!
Irina - A good location never hurts!
Joan - Those are the dream listings but it get competitive when you are representing the buyer.
I know........sometimes you list one that you think will sell in a heartbeat! Then you list one that you think will never sell and it gets the multiple offers! Go figure?
Of course we all know that gorgeous staged property that will sell with the highest price and have multiple offers..........few and far between!
Sometimes it is just the feel of a home... people attach right away and it is a win win... for the seller in this case.
Elizabeth -- As soon as I can package and sell the IT Factor, I'll be a rich woman...
Kim - It's kinda like love, hard to dissect, but the connection has to be there for it to happen.
TRUE! We have variations here from neighborhood to neighborhood and even if their boundaries are touching there can be a huge variation in average sold price per square foot. Sometimes it's the amenities of the hood, sometimes it is the aesthetics, maybe it is what is parked in the driveway, IDK!
Great homes never last. In today's market, pricing is everything! But great neighborhoods and a plus.
Renee - True, sometimes a particular street within a neighborhood will demand a higher price than the rest of the area...
Kay, a great price works in every neighborhood!
I recently had my first real experience with location; the day that house went on the market the floodgates were opened. It was amazing and all because of location.
Question: so do you aviod listings that don't have the it factor?
Always good to hear stories about a 50s neighborhood reinventing itself to be a leader in the 21st century. Some buyers like a mix of old and new.
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