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Panning for Gold in the Great American Real Estate Sale

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

I'm sure you've seen those guidebooks for shoppers offering advice on which month is the best one to purchase everything from cars to clothes, but they do not address when you should purchase a house.  That's because real estate sales are not an annual event.

When it comes to California real estate discount sales, it is more like a generational event.  Some say it is a once in a lifetime opportunity. In my area, Palos Verdes, the last time I remember a "blow out housing sale" was in the early 1990s.  We're approaching the 20-year anniversary of that great Southern California Sale, and compared to the markdowns of the current across the board sale that was a small correction.  This one is a door buster, but strangely enough there is a very short line of savvy shoppers.

Today the local MLS reported a sale that was approximately 20% below the asking price.  I have an offer out on a short sale that is approximately 60% below the price paid by the seller three years ago.  Move toward the interior of California and discounts frequently approach the 50% and beyond number.  So where's the Great Real Estate Rush?

Alas, consumer confidence is slithering along at an all time low. The country is crawling out the economic doldrums at a snail's pace, and the Great American Real Estate Sale is calling to an unresponsive crowd.  Even the whispers of hyper-inflation have not roused the flickering flames.

Buy responsibly, not with abandon.  Greed is not so good.  Live within your means.  Those are valuable lesson learned by the recent downturn and slowdown.  Keeping those tenets in mind, you may want to venture forth and check out one of the greatest real estate sales in recent memory. 

Shoppers, the USA is having a real estate sale.  If you've always daydreamed about owning a piece of the California Coast, now could be the time to convert a dream into reality. 

P.S.  This sale will terminate without notice.  No notice will be given regarding price increases.  No predictions or promises of future sales will be offered.

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

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.


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Comments (4)

Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Norma - We are starting to see somewhat of a housing rush here in Arizona, but it is mainly on homes priced under $150k.  I think these are the kinds of homes first time buyers and investors can afford, so they are receiving multiple offers, and sometimes selling for more than the listing price.  This just recently started about a month ago.

Apr 27, 2009 05:29 AM
Norma Toering Broker for Palos Verdes and Beach Cities
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes Luxury Homes in L.A.

Troy - The rush has to begin somewhere and what better place than at the most affordable level? 

Apr 27, 2009 06:30 AM
Robert Vegas Bob Swetz
Las Vegas, NV

Norma- It will be very difficult for that Real Estate Rush to happen when the Banks and Lenders are holding back. I really like your title and where did you get the photo of you on the camel for your profile pic, where you in Egypt? If you where I am so jealous!

Vegas Bob

Apr 28, 2009 12:47 PM
Norma Toering Broker for Palos Verdes and Beach Cities
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes Luxury Homes in L.A.

Robert --Prepare to be jealous---I was in Egypt in January and it was a grand adventure.

Apr 29, 2009 04:47 AM