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Claude Windell's Advice

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  • 3 Contributions
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Claude Windell wrote:

Average DOM for a Realtor... Still Relevant Today?

Response
This is an ineresting debate. As the listing agent, it is always my objective to sell the property in a reasonable amount of time at the best possible price for the seller. So I look at the current DOM and selling price for recent sales, generally in the last 90 days. So the objective is to price the property to sell within that time frame with an agreement from the seller to adjust the price a specific amount at a specific DOM.  The first indicator that the price is too high is that the property is not  being shown.In my experience it's the buyers who ask how long the property has been on the market. A high DOM for the buyer is a sign that property is over-priced.  I find the sellers more interested in the listing price. It's during that conversation that we discuss DOM.  Overpriced properties will stay on the market longer, higher DOM.  The listing will become stale, property showings will drop off.  Ultimately the property will sell for less than if it had been price right and sold within the average DOM for the market.Bottom line is DOM is one factor in the marketing of a property; It is not a single indicator of a listing agent's ability.  But it should be part of any listing presentation.
May 12 2011
(0)

I'm interested in lots in redondo view subdivision and how much they are worth in Half Moon Bay, CA?

Answer
David Gowans is correct. This area is zoned PUD, Planned Unit Development. Buying an individual lot in a PUD makes no financial sense.  This type of property is for a developer with deep pockets. The only way these lots could ever be developed is by assembling them into one large parcel. Then a plan for developing the property which would include roads and other infrastructure could be submitted to the City of Half Moon Bay. The Wave Crest project was under consideration for almost 15 years.  The developer finally gave up and sold the tract to Peninsula Open Space Trust.  If you are looking for a lot to build a single family residence on the coast, there are still many buildable parcels.  What you need to look at are lots with R-1 zoning that have road access, water, and sewer.  In the current market these lots start about $150,000. I hope this helpful.
February 18 2011
(0)

My appraisal when I refinanced is significantly higher than the zillow estimate

Answer
Another factor that can affect the Zestimate is lack recent sales in the area around your home. Also neighborhoods that have a wide range of homes from cottages to mansions will be difficult to estimate.
September 27 2010
(0)
 
 
 
 
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