Happy Memorial Day Weekend🇺🇸 – TBG Update 5/28

Very rarely do we come across a house that checks off every box on a dream list like our new listing at 809 3rd Ave. The house has a classic center hall floor plan with an extra wide sunshine filled entryway, a spacious living room on one side and a generous dining room on the other, an artfully remodeled kitchen with white shaker cabinets, carrera countertops and high end stainless steel appliances with a breakfast room that opens to the back deck, and a bedroom suite at the back of the downstairs. Upstairs it has 3 beds and 2 baths. The master suite has a walk-in closet and a bath with double vanities, and a freestanding tub and shower. The second bathroom upstairs also has double sinks and vanities and a tub/shower. The washer/dryer is upstairs. The yard is hedged and private, full of trees, and it’s the perfect combination of DG and bright green grass. There’s great entertaining, playing, and al fresco dining space. And then there’s a permitted ADU with a kitchenette, bed and bath that can bring in 30k a year. The house is bathed in sunshine everywhere, there are doors to go outside in just about every single room, and it’s the perfect blend of remodeled in good taste combined with architectural details and historical charm.

809 3rd went on Redfin as a “hot home” almost immediately, which is defined by Redfin as “Expected to sell faster than 98% of nearby homes”.

As a lucky person who gets to observe human behavior all the time, I find something over-the-top cool and smart about sellers who price their house to sell way over asking in multiple offers. I also find something over-the-top cool and smart about buyers who offer way over asking and blow everyone in the multiple offer situation out of the water to get an amazing house. I find that it’s the same cool people who are confident to pay over asking when they buy and to price below market to attract multiple offers when they sell. Savvy people who are real buyers and sellers have the smarts to know that the market sets the price, and the most efficient and effective way to both buy and sell a great house is to engage with multiple offers. Great houses with savvy owners sell in multiple offers both when purchased and when sold.

It’s interesting to observe and to compare the experience across different personality types. There are buyers who categorically won’t engage in multiple offers. We received an offer on a listing of ours this week with a one hour window from the time we received proof of funds until the time the offer expired. We got an explicit warning from the agent that if the offer wasn’t accepted exactly the way it was written by the short offer deadline without a counteroffer, then the buyer would not be engaging further. I see on the MLS sellers who price their houses too high and offer incentives to agents if they convince a buyer to pay their too high price. I see sellers on the MLS, with properties priced too high, who have their agents do open houses for 8 hours in one day with extra flags, signs, and balloons to get attention. Over the years so many sellers have said they’d like to price high and then to do creative advertising in a specific demographic or community – like the entertainment industry or the business managers to the entertainment industry – because they just need “one person” to buy their house and a person of their chosen demographic would be just right. As an uber persistent person who enjoys working especially hard and trying everything, these tactics are not genius or ultimately effective. Chasing the market doesn’t yield top dollar.

It’s so fun that open houses are back!!! I’m excited for Sunday! I’m planning my whole pick of houses I can’t wait to check out on Tuesday 11- 2. I love going to local parks in the evenings and seeing so many different organized ball games going on with parents cheering on the sidelines! Restaurants are packed and not taking any more reservations. Is it just me or was there inflation that happened while we were staying at home; it feels like prices shot up when we were invited to re engage. Interesting to observe and to see where everything lands in our new open world.

Wishing everyone an incredibly spectacular Memorial Day Weekend!!!