Our La Canada starter home closed!
Ever since mid-summer, we have noticed a substantial drop in open-house visitors. Our starter home in La Canada was no exception. What was interesting was the fact that both people who wrote offers waited a bit to do so. And neither came to the open house with their agent. The first offer we received and accepted was from a buyer whose agent didn’t even see the home until the time of their inspection. And even then, the agent came to the inspection late and only stayed with her clients for less than one-half hour.
After escrow was opened, a second buyer wrote an offer without their agent looking at it either.
We sold for less than the asking price. What went wrong?
The La Canada real estate market has cooled . Ultimately, the home was priced too high . While I recommended a lower list price, the seller decided on listing higher . Many La Canada homes continue to sell over the asking price, and now is not the time to price with room to negotiate . Home sellers should be pricing to negotiate up, not down.
The sellers opted not to have a pre-inspection and there was a $15,000 credit to the buyer for mostly nonsense.
