Buyers are Buying from actual Sellers? What???

By
Real Estate Agent with HK Lane, Christie's International Affiliate, 760-285-3578 DRE #01329387

Buyers are Buying from actual Sellers?  What???  Yes, it's true.  There is a definate change in the La Quinta real estate market.  Sellers are actually getting offers that are "in the ball park", not ridiculously low.  Partly because Sellers in the La Quinta area now have enough comparables to get a really good feel for what to price at..if they listen to their Realtors. 

The La Quinta area was hit very hard with the huge reductions in home values driven by the over-extension of loans, and over-building of homes all within a few miles of each other.  The newer developments came crashing down over the past 3 years..dropping and dropping until they have now pretty much settled where Buyers are willing to purchase.  I am actually seeing reduced inventory in many developments in La Quinta and also West Indio..interesting because there was so much out there just 8 months ago, that Buyers felt they could just wait and they'd find something they liked just as well.  What a difference the past 6 to 8 months have made in the La Quinta real estate market!

There is still room to negotiate with Sellers, don't misunderstand, but they are getting close to List Price or at least decent sales prices..above REO's.  I am actually putting homes in Escrow that are CHOSEN over REO's or Short Sales in the same La Quinta developments!  Buyers are seeing the value in paying a little bit more and getting the home they want in great condition.  I think part of this is that actual home owners are purchasing..not just investors. 

Great news for our Valley!

Posted by

 

Kimberley Kelly, RealtorKimberley Kelly,   Land, Ranches or Residential prpoerties in the Palm Springs Valley of California. Follow this link to Meet Kim!

(760) 285-3578

 

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Rainmaker
341,923
Gina Chirico
Lattimer Realty - Fairfield, NJ
Real Estate Agent - Essex County, New Jersey

Wow great news!!  Sure looks like positive signs of a market recovery!! 

Apr 06, 2010 07:59 PM #1
Rainer
208,003
Stephen Arnold
HomeSmart International - Scottsdale, AZ
CRS, GRI, SFR

This is wonderful news!!  Hopefully the trend continues into the summer months for you guys!

Apr 06, 2010 11:42 PM #2
Rainmaker
556,060
Cherise Selley
Selley Group Real Estate, LLC - Colorado Springs, CO
Colorado Springs Realtor

Kimberley - Fantastic for your market.  I've noticed buyers who think the bargain deal is through REO becomes shocked after waiting 6 months to a year before finding out that the banks still want 1-2% off listing price.  People are attracted to the bargains that aren't short sales.  Cherise

Apr 07, 2010 07:09 AM #3
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Kimberley Kelly, SFR, HAFA

I do Real Estate like I played polo-to WIN!
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