California Horse 'n Home

LISTING PRICE IN OUR CURRENT MARKET
IS KEY TO HOME SALE SUCCESS

    I'm amazed at a couple of new listings out-of-area agents have taken in the Lake Mathews area. Over-priced is an understatement. If you've read any of my Realty-Reality blog posts you surely understand that there have been zero, none, nada single family homes on 4-5 acres sold for over $850,000.00 in the last couple years in our area (Lake Mathews, Gavilan Springs, Gavilan Hills).
    There's only one home in our area that sold for over $800,000.00 since September, 2009 - and that was a custom built mansion with over 5000 square feet of living space and an Olympic sized indoor pool - It's original listing price was $1.5 million. SOLD FOR $820,000.00 - 9/23/2009 

    Yet, we have OOA (out of area) agents taking listings and sellers jumping on board at unrealistic prices. Personally, I believe they are doing an injustice to their clients and you might have to question the motivation of the real estate agent. It would clearly seem their interest is not in selling the home anywhere near the listing price, which is in the $950,000.00 dollar range - a 2008 price, and high even then. Certainly not a true price in todays market. Previous sales over the last six months would indicate this paticular home is perhaps $200,000.00 or more over current market.   
    There are a select few, really good, honest and hard working agents that represent our area. Any one of them is extremely qualified to assist home sellers in determing a realistic sales price based on the current market. 
    Sellers should not be misled by an agent from an obscure, out of area broker - no matter how hard they try to "sell" their previous experience and expertise. A local agent, one that lives in the area, is by far your best opportunity. Go local. It's in your best interest.