November Real Estate Report
It would not be an exaggeration to declare the Hidden Meadows real estate market as moribund, if not dead.
People in real estate tend to put the best face on the market, but 'facts is facts."
I have closed a million dollar house, two condos and a 4 acre parcel of land in the past month -- but those were in the pipeline for several months.
This is normally a cold time of year -- Un-anxious Buyers do not want to do a major house move over the Thanksgiving or Christmas Holidays -- and Un-anxious Sellers have friends and family coming for the Holidays, and they do not wish to be constantly picking up the house.
Many Sellers simply take their homes off the market for the Holidays.
Add to that the demographics and psychographics of Hidden Meadows: People do not NEED to sell.
One of the reasons that Rancho Bernardo homes are still selling is that RB is populated with people who must sell -- they have job transfers, or they lost their current job, or they are going to a new job...
When you must sell your home, you have an incentive to price your home to sell. Well priced homes keep the market honest because everyone else must stay relatively low to match the homes that must be sold.
That is far less prevalent in Hidden Meadows. Few people in the Meadows must sell...Most simply wish to sell, but it is not necessary to sell this month, or next, or even next year. Consequently, there is no need for Meadows Sellers to price their homes for a quick sale.
So, Rancho Bernardo homes sell, and Hidden Meadows homes do not. It is not unusual for a Sunday Open House in Hidden Meadows to generate only one "lookie-loo" in five and a half hours!
A "new market" begins in February...
People in real estate tend to put the best face on the market, but 'facts is facts."
I have closed a million dollar house, two condos and a 4 acre parcel of land in the past month -- but those were in the pipeline for several months.
This is normally a cold time of year -- Un-anxious Buyers do not want to do a major house move over the Thanksgiving or Christmas Holidays -- and Un-anxious Sellers have friends and family coming for the Holidays, and they do not wish to be constantly picking up the house.
Many Sellers simply take their homes off the market for the Holidays.
Add to that the demographics and psychographics of Hidden Meadows: People do not NEED to sell.
One of the reasons that Rancho Bernardo homes are still selling is that RB is populated with people who must sell -- they have job transfers, or they lost their current job, or they are going to a new job...
When you must sell your home, you have an incentive to price your home to sell. Well priced homes keep the market honest because everyone else must stay relatively low to match the homes that must be sold.
That is far less prevalent in Hidden Meadows. Few people in the Meadows must sell...Most simply wish to sell, but it is not necessary to sell this month, or next, or even next year. Consequently, there is no need for Meadows Sellers to price their homes for a quick sale.
So, Rancho Bernardo homes sell, and Hidden Meadows homes do not. It is not unusual for a Sunday Open House in Hidden Meadows to generate only one "lookie-loo" in five and a half hours!
A "new market" begins in February...
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