The Piedmont Perspective - Testing, Testing, Testing!

It's the annual STAR testing at school which means there's been a fair amount of grumbling in my household about these "stupid tests." I understand my son's point of view (I do); STAR testing tells us nothing more than how well our kids perform on a particular day - not whether or not they've gained important skills, like critical thinking.  Because the results are largely used to measure the success of the school and not the child, I'm inclined to agree with him (but don't tell Tristan I said so).    However, when my son steps back and looks at the inconvenience more objectively, he discovers that the week includes little to NO homework, early dismissal, and later start times, allowing him to sleep in (bonus)! On balance, it's probably one of the easiest weeks of the year, given that this son has always scored incredibly well on standardized tests.    "DON"T wake me tomorrow morning," Tristan commanded, "I'll get up at the right time on my own." (Okay then.)    Never mind that I haven't woken him in years (unless there were chores involved). Honestly, there's not a lot I've asked of my pampered kids besides their best efforts, BUT getting themselves up and off to school is one of them.    I think my clients are being tested as well - there's just no way to objectively measure their scores.    "We're FREAKING OUT!" is a refrain I'm unfortunately getting use to hearing.    No wonder.  The pace of the market makes for tremendous uncertainty. With multiple bidding on most properties, a HIGH number of preemptive offers in play, and some downright startling results, Buyers are really struggling to keep some degree of sanity as they navigate these challenging market realities.  Honestly, it's a reasonable response to a very trying situation.    "How are we ever going to find a home?" (You will.)   "But what if we don't?" (You will.)    Buyers are not alone. Sellers fair no better. "Why isn't my house jumping off the market like my neighbor's did?"   In short, your house may be missing the 'value proposition,' OR it may have expensive defects that need correcting, OR it may need extensive renovating, OR it is too big, OR it is too small, OR it may simply be priced too high. (That's usually the culprit. Everything sells at the right price.) Whatever the case may be, adapt if possible.   Unfortunately, it's the inconsistencies that are proving to really test us all, making it difficult to predict what is going to happen and when it is going to happen. Some homes, regardless of their condition, find a strong audience, while seemingly terrific homes, get nary a nod. In other words, not all listings are created equal, nor do they attract the same kind of attention. (Chemistry is an evasive concept.)    By way of example, I currently have two listings on the market which are experiencing both ends of the spectrum. The first, has competing Buyers knocking down my door asking for disclosures and booking appointments for the offer date a week in advance (!); while the second has had far less activity even though it is 'value priced,' and has been aggressively marketed as well.  I think they're both great opportunities, but results aren't about what I think, they're about how the market responds.    So what gives?   While these properties are nothing alike, the first stands virtually alone in its neighborhood, while the other has come to market with 31 other competing houses, and many of them with newer amenities and updates. Moreover, supply is narrowing the gap on demand, and in turn, there's been a subtle, but profound, market adjustment.    This is NOT a correction mind you; it's a leveling off of the marketplace which is TYPICAL for this time of the year.  In fact, it's the same pattern we see every year as inventory rises and Buyers start to rethink their options, waiting for next week's offerings. In many cases, Sellers who delayed, are now scrambling to capture the market highs the last two months delivered and often, finding it more difficult to live up to these earlier results.    Still, DON'T panic if your home has sold swiftly, but DO make adjustments as needed and make them quickly. Homes that haven't sold within two weeks should reduce the price and reset their position immediately.  It's simply foolish to wait for the market to meet your expectations. Remember, a willing and able Buyer defines the value of any given property at any given time - NOT THE SELLER. (Sorry about that.)    Buyers, if you haven't been successful up to this point, this is good news, you're now in a much better position to compete (although you'll still need to be willing to be the highest bidder at the table).   Whatever the case may be, sharpen your pencils, prepare for battle, and get ready to be tested. Buying or selling under the best of circumstances is always stressful, and in the Bay Area marketplace, it's exponentially more difficult.  Of course, you're 'freaking out' - who can blame you? (Not me.)     Take a breath, seek objectivity (the rest of the world aspires to house- hunting angst), get into action, and understand that life is a series of tests as we transition from one stage to the next . . . AND I might add from my own recent experience, that transition and change ALWAYS require a fair amount of trust and faith . . .    You're just not going to be able to sleep in while you're going through the process.    Now, how can I help you?