Monday, May 18, 2009

Open Houses Get Real

I held two open houses this weekend in two different geographies and two completely different price ranges. Both had excellent traffic and serious buyers ready to move. What was on their minds? Missing a great opportunity!

The first home was in San Carlos, in the hills, a nice 2/2 fully remodeled in a great neighborhood with good schools close by - 637 Dartmouth Ave priced at $928,000. Visitors were impressed with the quality of the home and made comparisons to others based on "bang for the buck". Two visitors indicated they would look at the disclosures and consider an offer. Why? They considered the home a good value.

The second home was in Los Altos Hills at 25045 Oneonta Drive priced at $3,695,000. Visitors were impressed with the quality and made similar comparisons as the property above. One visitor indicated they would call to follow up to discuss an offer. Why? The considered it a good value.

So, what's the point? The market is truly starting to recover now. Homes at the low end in this area and other areas are starting to get snapped up fast. That leaves buyers in the mid-range and high-end considering that prices will not get lower and may start to move up. The result is that business is strongest at the low end and getting much better everywhere else.

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