Some Houses Get All the Offers

By
Real Estate Broker/Owner with Charlemagne International Properties BRE# 01147470

Everyone knows some neighborhoods are more popular than others.  They have the wow factor working for them in obvious ways such as superior schools and locations.  On the other hand, sometimes a neighborhood's popularity is judged in less tangible ways.  The hip and cool factor is more difficult to measure, but buyers pick up on it right away. 

 

Maybe it is the Prius lined driveways, high tech baby strollers or the evolution of the 1950s ranch home into the green abodes of the 21st century that makes young home buyers say, "This is the where we want to live."  Whatever it is it is working well.

 

Perhaps it is simply "Popular Personality Syndrome" the it factor that makes others want to join the in crowd.  Maybe it is the sense of belonging or a good match.  Whether we can define it or not, it exists, and buyers are willing to pay a premium for homes in such a neighborhood. 

 

On such home came on the market a week ago today.  There are currently three offers and counters are due back today.  Three buyers, one home.  Being popular pays dividends.

Norma Toering - REMAX Palos VerdesNorma Toering & Team RE/MAX Palos Verdes Realty
(310) 493-8333 / Office Phone: (310) 831-0800

PalosVerdesLifestyle - Nominated by Relocation.com as one of the top ten Los Angeles area real estate blogs. Ranked by Technorati in the top 1% of all blogs. As seen in the Daily Breeze newspaper.

South Bay Los Angeles cities I sell real estate, property, houses and homes in: Palos Verdes Estates, Rolling Hills, Rolling Hills Estates, Rancho Palos Verdes, San Pedro, Long Beach, Torrance, Lomita, Redondo Beach, Hermosa Beach and Manhattan Beach. Information is deemed reliable but not guaranteed.


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Show All Comments
Rainmaker
447,863
Malcolm Johnston
Century 21 Lanthorn Real Estate LTD., Trenton, Ontario - Trenton, ON
Trenton Real Estate

That sounds like a Rod Stewart song Norma. You're right though, some houses just have that "je ne sais quoi" about them that attract buyers. It's our job as agents to figure out what is so attractive about them and apply that formula to our own listings when we can.

Sep 29, 2010 12:49 PM #1
Rainmaker
1,127,555
Li Read
Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC
Caring expertise...knowledge for you!

There are intangibles in this emotional world of "choice", that's for sure.    Saavy post!

Sep 29, 2010 12:50 PM #2
Rainer
112,861
Irina Riley
Blue Picket Realty - Woodland Park, CO
GRI, SFR, CNE, e-PRO, SRES

Location, location, location. That's the only one thing that can withstand any economic pitfalls. Thanks for sharing.

Sep 29, 2010 12:52 PM #3
Rainmaker
1,453,388
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I would like to be ON THE LIST for those homes, I would be a GREAT listing agent!   We all have to hope for a just a few like that!

Sep 29, 2010 01:08 PM #4
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Norma Toering
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes & Beach Cities Homes in L.A. CA

Malcolm -  You're right--maybe you're on to something and I should set it to music or have my son do it--he's the musician in the family.  Never hurts to have another income stream...

Sep 29, 2010 02:05 PM #5
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Norma Toering
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes & Beach Cities Homes in L.A. CA

Li - Sometimes it is obvious and other times it is more subtle but we all know there are homes and neighborhoods that simply have IT!

Sep 29, 2010 02:19 PM #6
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Norma Toering
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes & Beach Cities Homes in L.A. CA

Irina - A good location never hurts!

Sep 29, 2010 02:20 PM #7
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Norma Toering
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes & Beach Cities Homes in L.A. CA

Joan - Those are the dream listings but it get competitive when you are representing the buyer.

Sep 29, 2010 02:23 PM #8
Rainmaker
214,333
Elizabeth Arduain
The Diamond Group @ Keller Williams - Lubbock, TX
Lubbock Texas Real Estate

I know........sometimes you list one that you think will sell in a heartbeat!  Then you list one that you think will never sell and it gets the multiple offers! Go figure?

Of course we all know that gorgeous staged property that will sell with the highest price and have multiple offers..........few and far between!

Sep 29, 2010 03:21 PM #9
Rainmaker
389,642
Kim Sellers
Lake Arrowhead, CA Coldwell Banker - Lake Arrowhead, CA
Lake Arrowhead Realtor - DRE#01412099 - Lake Arrow

Sometimes it is just the feel of a home... people attach right away and it is a win win... for the seller in this case.

Sep 29, 2010 04:59 PM #10
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Norma Toering
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes & Beach Cities Homes in L.A. CA

Elizabeth -- As soon as I can package and sell the IT Factor, I'll be a rich woman...

Sep 29, 2010 06:37 PM #11
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Norma Toering
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes & Beach Cities Homes in L.A. CA

Kim - It's kinda like love, hard to dissect, but the connection has to be there for it to happen.

Sep 29, 2010 06:40 PM #12
Ambassador
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Renée Burrows
Savvy Home Strategies Realty, LLC-REALTOR®-Estate-Probate - Las Vegas, NV
Las Vegas Real Estate Broker - www.urLVhome.com

TRUE!  We have variations here from neighborhood to neighborhood and even if their boundaries are touching there can be a huge variation in average sold price per square foot.  Sometimes it's the amenities of the hood, sometimes it is the aesthetics, maybe it is what is parked in the driveway, IDK!

Sep 29, 2010 08:10 PM #13
Rainmaker
686,749
Kay Van Kampen
RE/MAX Broker, RE/MAX Solutions - Springfield, MO
Realtor®, Springfield Mo Real Estate

Great homes never last.  In today's market, pricing is everything!  But great neighborhoods and a plus.

Sep 29, 2010 10:08 PM #14
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Norma Toering
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes & Beach Cities Homes in L.A. CA

Renee - True, sometimes a particular street within a neighborhood will demand a higher price than the rest of the area...

Sep 29, 2010 10:46 PM #15
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Norma Toering
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes & Beach Cities Homes in L.A. CA

Kay, a great price works in every neighborhood!

Sep 29, 2010 10:48 PM #16
Rainmaker
483,762
Teral McDowell
Keller Williams Central - Plano, TX
Texas Realtor, Dallas and Collin County

I recently had my first real experience with location; the day that house went on the market the floodgates were opened. It was amazing and all because of location.

Sep 29, 2010 11:43 PM #17
Rainmaker
83,150
Dana Voelzke
Citibank N.A. (203) 733-9408 - Fairfield, CT
Fairfield County CT Home Lending Officer

Question: so do you aviod listings that don't have the it factor?

Sep 30, 2010 01:18 AM #18
Rainmaker
1,513,367
John Novak
Keller Williams Realty The Marketplace - Las Vegas, NV
Henderson, Las Vegas and Summerlin Real Estate

Always good to hear stories about a 50s neighborhood reinventing itself to be a leader in the 21st century. Some buyers like a mix of old and new.

Oct 03, 2010 05:51 PM #19
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Norma Toering

Palos Verdes & Beach Cities Homes in L.A. CA
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