Buyers are Panning for Gold in the Housing Market
By Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A.
(Charlemagne International Properties)
The current real estate market is a bit puzzling. Some new listings grow old and stale waiting for the right buyer to come along. Other new listings are sold in a multiple offer feeding frenzy. If the price is not way out of line, and the conditions are similar then why is one seller able to attract many buyers and the other seller is left with none? My local explanation is location and view. Buyers are cherry picking the best of the housing fruit and leaving the rest to, for lack of a better term, rot on the MLS. Recently a panoramic ocean view home received nine offers. A similar view home in a nearby neighborhood (only blocks away) is still on the market. The Palos Verdes Peninsula buyers are a savvy bunch. They recognize the little nuances that distinguish a property fro...
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