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Old 03-11-2014, 03:18 PM
 
134 posts, read 287,386 times
Reputation: 61

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I see it happening in Santa Monica... The place is near the highway (the 10). I'm trying to figure out what is going on there that would prompt 3 places going on sale at once on that block when not a whole lot was on sale for months in the area. Any hints or things I can do to find out more?
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Old 03-11-2014, 03:24 PM
 
582 posts, read 779,134 times
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Not really, if the homes where built around the same time, it is common for there to be similar turn-around. The is especially true for areas that consist of start or smaller homes. Young families tend to buy the homes and then move up when the kids arrive.
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Old 03-11-2014, 03:38 PM
 
Location: LA/OC
1,083 posts, read 2,170,379 times
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Sometimes people see a "for sale" sign up, check the prices in the neighborhood and realize it's a good time for them to sell. RE agents typically canvas neighborhoods with new listings for that specific reason.
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Old 03-11-2014, 03:43 PM
 
Location: Orange, California
1,576 posts, read 6,350,124 times
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It may or may not be a red flag for buyers, but I'm sure the sellers are in agony. Hard to market your home for sale as a hot property that a prospective buyer should hurry up and put a list price offer on when half the houses on the street are for sale!!! Plus, more supply equals lower price if demand is steady.
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Old 03-11-2014, 04:26 PM
 
Location: Southern California
4,451 posts, read 6,799,364 times
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Are they between Pico and ocean park?
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Old 03-11-2014, 04:27 PM
 
134 posts, read 287,386 times
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Quote:
Originally Posted by thelopez2 View Post
Are they between Pico and ocean park?
Yes.
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Old 03-11-2014, 04:49 PM
 
Location: M*I*A*M*I
224 posts, read 321,580 times
Reputation: 211
when prices go up, so does inventory.

macroeconomics 101.
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Old 03-11-2014, 05:45 PM
 
Location: Southern California
4,451 posts, read 6,799,364 times
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No it is not a red flag. One unit was empty, I'm guessing the place became empty an the end of the month and they spent some time painting and cleaning it up. It is advantageous to have your house open when someone is also selling, there will be a lot of agent traffic. With one stop an agent can look at 3 homes. I might have see you there.
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Old 03-11-2014, 09:30 PM
 
Location: West Hollywood
3,190 posts, read 3,185,202 times
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Quote:
Originally Posted by goozer View Post
It may or may not be a red flag for buyers, but I'm sure the sellers are in agony. Hard to market your home for sale as a hot property that a prospective buyer should hurry up and put a list price offer on when half the houses on the street are for sale!!! Plus, more supply equals lower price if demand is steady.
So many sellers make this mistake. The best thing to do is wait to list until after the other house/houses nearby sell. That way you'll likely have had some people that were interested in the property/properties but didn't get them and now you can offer them another chance to get in the neighborhood they were eyeing.
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Old 03-11-2014, 10:17 PM
 
Location: Southern California
4,451 posts, read 6,799,364 times
Reputation: 2238
Quote:
Originally Posted by MordinSolus View Post
So many sellers make this mistake. The best thing to do is wait to list until after the other house/houses nearby sell. That way you'll likely have had some people that were interested in the property/properties but didn't get them and now you can offer them another chance to get in the neighborhood they were eyeing.
But then you risk having to wait 30 days. The pent up demand for 600-800k homes is already there. Homes near by have already sold, there are already enough losers locally, I jest. If you wait you'll end up into fall and winter.
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