Altadena Real Estate

A Shift in the tide?

We’ve noticed a dramatic change in the local real estate market. It started about three weeks ago and has been gaining momentum ever since. Drum roll please… Buyers are back!

We’ve seen a big jump in the number of actual Buyers attending our open houses. More importantly, these Buyers are writing offers. The result is that we’re witnessing the return of multiple offers.

Case in point, we recently listed a beautiful home at 1496 E Orange Grove Boulevard in Pasadena. Within three days, we had received three solid offers. One of these Buyers had to withdraw his offer after losing his job, another got cold feet and the third was unwilling to come to terms with the Seller. But, after a busy Sunday Open House, with over 75 people in attendance, we received another two offers. We’re now in escrow at over the list price.

We’re also seeing this on the Buyer side. Several Buyers that we’re currently working with have written offers on numerous homes, but have not yet been able to “seal the deal.” They are writing compelling offers that are over the asking prices and are still getting out-bid. I’m putting the finishing touches on a very strong offer on a home that has been listed for less than a week. Fingers crossed…

Perhaps this is just a short term blip? It’s hard to say. We’re certainly not ready to break out the champagne yet. But, we are hoping that this activity is a reflection of consumers’ desire to return to the home buying marketplace.

Bottom line: if you, or anyone you know, has been thinking about selling a home or searching for a new one, now is the time to act. Please call or email us to find out how we can help make the process fun and successful.

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