JULIE GARDNER
  • HOME
  • COMPASS
    • WHY COMPASS?
    • COMPASS CONCIERGE
    • COMPASS BRIDGE LOANS
  • LISTINGS
  • ABOUT
    • ABOUT JULIE
    • A DYNAMIC PARTNERSHIP
    • CONTACT
    • PROCESS
    • TESTIMONIALS
    • PRESS
  • PROJECTS
    • BEFORE & AFTER
    • GARDENS
    • OUR TEAM
    • VIDEOS
  • BLOG
  • COMMUNITY
    • UTILITIES
    • SCHOOLS

The Piedmont Perspective - Summer Lovin' Vol. 365

7/24/2015

0 Comments

 
Picture
We're officially into our summer market, but just because inventory has diminished, it doesn't necessarily follow that interest has . . . or that prices will. . . 

Still, July and August can be great months to step in and purchase a home while others are away on vacation or distracted with swim lessons, tennis camps, family outings or travel abroad.  In truth, fewer Buyers at the table should equate into less pressure on the final sales price, so personally, I've always been a fan of the summer opportunities, even while appreciating the need to get away and relax.  

By the way, it's not just some Buyers that have strayed, but many of their Agents as well, as they too, seek time away from the unyielding hustle and bustle the Spring Market invariably brings.  (Not that I'm complaining, mind you - productivity equals private college tuition.)

But who can blame the public for tuning out and taking some much needed "down time" once summer beckons? (Not me.)  As everyone quickly learns, buying or selling a home can quickly move into a full-time job AND a heavy Internet addiction, especially here in the Bay Area.  For many who've faced rejection a time OR two, OR three, OR FOUR . . .  August often provides a bit of a breather and a welcome respite. (You're not alone.)  Go ahead and enjoy some time off - you've undoubtedly earned it.

As for me? I'll be heading to Tahoe this week for a little R&R and hoping there's still some water left in the lake. (Please tell me there is.)  I'll still be writing offers and reading disclosures, but I'll be doing it in shorts and flip-flops and that's at least something.

Speaking of which, according to a good friend and fellow agent, prices in Tahoe have plummeted a whopping 53% on the heels of a four-year drought and an absence of snow! (Aren't you grateful you bought here?) Ouch! That can certainly sting if you're selling a lakeside home right now.  If you're not, don't lose a moment's sleep. The value of any home is ONLY ever relevant come time to sell.

Unfortunately, for some in the Tahoe region, that time is now.

"We took a bath on our cabin in Northstar," Caroline shared (too bad, I liked that house a lot and I'm sorry to see it go.) "So Uncle Sam received NO capital gains from us . . .  we sure showed him a thing or two," she laughed.  (Caroline has a great sense of humor and a positive point of view.)

As she should.  Not only is Caroline extremely gifted at her craft, she's spent the majority of her adult life selling real estate in and around San Francisco, and has experienced the variables first hand. As such, she's watched the market go up and down and has navigated both ends of the spectrum with a steady hand and uncompromising integrity.  As good timing would have it, she's seen more UP markets, than down, so she's come out far ahead on the deal, and she'd be the first to tell you so.

But here's the basic premise that harkens back to economics 101: ("Beuller? Beuller? Beuller?") markets aren't static instruments - they have a propensity to move!!!  When and how much, is how fortunes are won and lost, I suppose, but over TIME, home values have climbed and home ownership (aside from being a lovely place to hang one's hat) has generally been well rewarded. According to the California Association of Realtors CAR), one in four Americans (27%) believe that Real Estate is the single best investment, far outpacing the stock market (17%) for the first time in many years. 

Even so, none of us wants to pay TOP DOLLAR for our homes. 

"Has the market peaked?" (It's unclear.)
  "So how much is this house going to sell for?" (That remains to be seen.)

"How much will I need to offer?" (How much do you really want the home?)

"Will we be overpaying for the house in this market? (That depends on how long you plan to hold the property.)

"I don't suppose you'll know what other parties are offering?" (No, I won't.)

"Will we know what the other offers were after the fact? ("No, you will not - nor would you want to.)

And so the questions continue . . .
(Gee, I wish I had more definitive answers for you.)

The truth is, that regardless of the number of years one has writing offers and putting homes into escrow, the process in a Sellers' Market is largely a blind auction.  The list price merely sets the starting point in a multiple bidding situation and while not every house is procuring multiple offers, the vast majority of them are. Where exactly a home will ultimately trade, is largely an educated guess and a clear understanding (on your part) of how much you want the home OR how willing you are to walk away (or not!).

Oh, that's not much fun. (No, it isn't.) I understand your frustration and to add to the confusion, the market won't always stay this way.

But here's another truth - the price you pay in today's world is largely irrelevant in tomorrow's . . . (as long as you plan to hold the house for 10 years or more).

By way of example, yesterday I met a darling, elderly couple in front of their home, who had bought their house at a probate auction 40 years ago for $90,000; a bargain by today's standards - and then some . . . 

"I was furious with her," the husband confided to me. "I wanted to back out of the deal; it was soooo much money for us at the time.  Good thing she didn't listen to me," he said with a wink and a nod, pointing at his better half.  His wife simply smiled. 

That's the ending we're all hoping for.
  No, not the part where we don't listen to our husbands, but where we made a wise decision!

Now go hit the beach (there's plenty of it).    

 

How can I help you?

0 Comments

Your comment will be posted after it is approved.


Leave a Reply.

    Subscribe

    Author

    Julie Gardner, has been writing The Perspective for 18 years and has published more than 775 humorous but always informative, essays on life and real estate. 

    Picture

    Archives

    June 2025
    May 2025
    April 2025
    March 2025
    February 2025
    January 2025
    December 2024
    November 2024
    October 2024
    September 2024
    August 2024
    July 2024
    June 2024
    May 2024
    April 2024
    March 2024
    February 2024
    January 2024
    December 2023
    November 2023
    October 2023
    September 2023
    August 2023
    July 2023
    June 2023
    May 2023
    April 2023
    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    August 2015
    July 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015
    January 2015
    December 2014
    November 2014
    October 2014
    September 2014
    July 2014
    June 2014
    May 2014
    April 2014
    March 2014
    February 2014
    January 2014
    December 2013
    November 2013
    October 2013
    September 2013
    August 2013
    July 2013
    June 2013
    May 2013
    April 2013
    March 2013
    February 2013
    January 2013
    December 2012
    November 2012
    October 2012
    September 2012
    August 2012
    July 2012
    June 2012
    May 2012
    April 2012
    March 2012
    February 2012
    January 2012
    December 2011
    November 2011
    October 2011
    September 2011
    August 2011
    July 2011
    June 2011
    May 2011
    April 2011
    March 2011
    February 2011
    January 2011
    December 2010
    November 2010
    October 2010
    September 2010
    August 2010
    July 2010
    June 2010
    May 2010
    April 2010
    March 2010
    February 2010
    January 2010
    December 2009
    November 2009
    October 2009
    September 2009
    August 2009
    July 2009
    June 2009
    May 2009
    April 2009
    March 2009
    February 2009
    January 2009
    December 2008
    November 2008
    October 2008
    September 2008
    August 2008
    July 2008
    June 2008
    May 2008
    April 2008
    March 2008

    Categories

    All
    Business
    Design
    Drought
    Holiday
    Home Maintenance
    Homes For Sale
    Life
    Market
    Politics
    Renovation

    RSS Feed

    View my profile on LinkedIn
Piedmont · Oakland · Berkeley
 510.326.0840
[email protected]
DRE# 01431765
​COMPASS

  • HOME
  • COMPASS
    • WHY COMPASS?
    • COMPASS CONCIERGE
    • COMPASS BRIDGE LOANS
  • LISTINGS
  • ABOUT
    • ABOUT JULIE
    • A DYNAMIC PARTNERSHIP
    • CONTACT
    • PROCESS
    • TESTIMONIALS
    • PRESS
  • PROJECTS
    • BEFORE & AFTER
    • GARDENS
    • OUR TEAM
    • VIDEOS
  • BLOG
  • COMMUNITY
    • UTILITIES
    • SCHOOLS