There isn’t a week, and sometimes a day, when I don’t learn something in this business. Often it’s a lesson learned directly from a client. That’s one of the great things about my business; I benefit from meeting folks from all walks of life and all professions. It’s really quite remarkable and every transaction is different. It’s what has made serving my clientele since 1980, truly a rewarding experience. Even though, the lessons learned are sometimes learned the hard way.
Let’s take for example the lesson I learned this week. We’ve all heard the expression, “… when you ‘assume’ something, you make an a** out of ‘u’ and ‘me’”
So true. I made assumptions this week about what a client of mine knew and didn’t know and those assumptions led to my client not getting a home they really liked. Let me share the “behind the scenes” set up here. We’re in a market right now that is just abysmally undersupplied. The price appreciation vector as a result of this undersupply is such (check my March 17 blog entry and scroll down to the bottom of the page for the chart depicting listing volume) that in my opinion, continued price appreciation is “baked in” to the market for quite some time.
In fact if you read my April 8 blog entry, you will see why I believe this to be true. At any rate, if you’re a buyer of real estate today in a market in which supplies are short, price appreciation trajectories are strongly positive, then you need to understand the choices you can make when your broker is completing the “RPA” (Residential Purchase Agreement). As part of my customer service then, let me share some of the elements in the RPA that you, as a buyer, have to think about and if you’re a seller, what you too have to measure when studying offers presented to you. As you read through the table, the first column refers to paragraphs in the RPA which you can check here
For those of you reading this that are selling or buying now, this is critically important to understand. If you know anyone that is considering buying or selling, please share this email with them. Learn from my mistake!
But first, did you know that of the 61 Palos Verdes homes sold in the last 30 days 1/3rd of them sold for list price or over list price?! For the last 30 days, here’s the most frequent price ranges (scroll to bottom of this article for chart)
One of my clients asked me yesterday about whether or not I thought we were in another “price appreciation bubble” for Palos Verdes Estates home prices. Let’s get one thing clear here, I have no crystal ball and as they say, "past performance is no guaranty of future results"
However, one of the benefits you have of choosing me as your broker is my experience and knowledge of the market based on facts. Here's an example of the kind of data at my finger tips that I use for my clients' benefit
- Call Realty CompanyBroker, 1980 - presentServing investors, home buyers and home sellers throughout the South Bay and Palos Verdes areas. Expert implementation of hi-tech strategies incorporating cutting edge internet manipulation of search engine protocols which elevate clients' homes to greater exposure affecting faster sales, higher competition and minimizing stress for the client
- University of California, Los AngelesEcon & Psych, 19774 - 1979
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