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Seemingly Conflicting Headlines Can Confuse Today’s Buyers and Sellers
Seemingly Conflicting Headlines Can Confuse Today’s Buyers and Sellers
 
Yesterday, I wrote a post Believe Me! I Know A Lowball Offer When I Submit It…. which told the experience of an offer from my buyer clients on a property which had been listed for sale in a very active market for about sixty days.  The property is in a terrific location and clean but no significant updates made by the longtime owner.  According to the listing agent, no offers have been submitted and there have been no adjustments to the original list price.   
 
Today, I look at the front page of the Los Angeles Times and see a story with the headline:  Price cuts point to a shift in Southland housing market where it is “revealed” that price cuts are indeed back in the active SoCal real estate market.   A couple of quotes, a graph and some anecdotal insights seemingly prove my point.  Then on the front page of the Business section the story of a newly built Beverly Hills spec home(yes, no buyer) at $85Million.   http://www.latimes.com/business/realestate/la-fi-extreme-home-20140912-story.html  Yes, the timing may be right for such a home and the developer has more planned.
 
Two very different stories.
... more

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