How To Set The Right Asking Price

Art of the Deal

Things are not what they seem.

We went to an art fair in the square. (In Prescott, there is something in the court house square every weekend, all Summer long.)

My wife loves this one artist and fell in love with a painting he did of the Grand Canyon.

By the way, the artist is another Californian that moved to Prescott. He graduated from Long Beach State.

They wanted $850 for the painting. I didn’t want to pay that much, but I love my wife and I would pay anything to leave with that painting.

It had a frame on it that we weren’t in love with, so I asked if we could buy it for $50 less without the frame.

No, they said. He buys the frames in bulk and gets a really good deal on them, so no, they couldn’t take any money off by selling it without the frame.

OK. Well, we’re going to buy the painting. I told the girl in the booth that we were going to buy it, no matter what.

We love his work. We love this painting. We are buying this painting.

But, I just have to ask, could you give us a better price on the painting?

I tell her that we are buying it anyway, she doesn’t have to give us a better price, but I just wanted to ask.

I told her she didn’t have to lower the price. I used my words and said exactly that.

What was her response? Continue reading How To Set The Right Asking Price

The Truth About Real Estate Agents

It’s slowly beginning to dawn on me.

Flipping Houses

My main business is to flip houses. That’s where the real money is.

That’s where my heart is. That’s what I enjoy doing.

The problem was that every time we bought or sold a home, we had to pay a commission on the transaction.

Even though that transaction was already organized and prepared, I had to pay someone to list it and represent it for me.

I can represent myself, thank you very much.

The agent doesn’t have to tell me how to stage the house, or how to get it ready to list, or how to negotiate the price.

I need access to list it on the MLS and I need to know what contracts and forms to fill out to make it legal.

That’s all. Give me that and then get out of my way. Continue reading The Truth About Real Estate Agents

Police Pursuit Suspect Reverses Car Against Traffic, Flees On Foot In El Segundo « CBS Los Angeles

As I sit here, watching humming birds and looking out at the forest, I sometimes really miss where I moved from in California.

Here’s the latest news from my home town, El Segundo.

You’ll see a sign for “The Habit” hamburgers. We used to eat there. We shopped at that Walgreens.

This is where we lived. Our house was near the corner of Grand Ave., about a mile from where this happened.

This is just one reason we moved to Prescott, AZ.

EL SEGUNDO (CBSLA.com) — A police pursuit that began in downtown Los Angeles on Wednesday afternoon ended in El Segundo, when police apprehended a man suspected of stealing a car.

After the crash, the suspect fled on foot near the corner of Grand Avenue and Indiana Street. Authorities arrested him nearby.

Read the entire article at: http://losangeles.cbslocal.com/

Good times, people. Good times.

The Prescott Real Estate Market – Stats for Aug., 2015

Prices are still going up. Sales volume is going up. Absorption rate is going down.

All signs point to this being a perfect time to sell your house.

Am I saying that as a real estate agent, trying to manipulate you into doing a deal?

No. I’ll also tell you that this is a horrible time to BUY a house.

Unless you are selling somewhere else, in a higher priced market, (and I’m looking at you, Los Angeles), then bringing that bucket of cash here to buy a cheaper, smaller house, please don’t buy a house.

This is not the time to trade up. This is the time to downsize.

According to every financial guy that I trust, we are at, or near, the top of the bubble.

We are about to burst and fall into a prolonged depression. Housing prices will crash in the next 6-9 months.

Get your own advice if you want, but that’s what I’m saying.

You look at the numbers and tell me what you think.

Summary Statistics Aug-15 Aug-14 % Chg 2015 YTD 2014 YTD % Chg
Absorption Rate 5.25 6.24 -15.87 5.31 5.54 -4.15
Average List Price $381,093 $368,151 3.52 $317,033 $302,954 4.65
Median List Price $305,450 $295,500 3.37 $250,000 $240,000 4.17
Average Sale Price $275,809 $242,248 13.85 $256,178 $230,266 11.25
Median Sale Price $220,000 $211,900 3.82 $221,000 $199,950 10.53
Average CDOM 105 118 -11.02 92 86 6.98
Median CDOM 39 52 -25.00 43 46 -6.52

150901_stats_chart

150901_stats_numbers

Born and Raised In LA – I Don’t Want To Move To Prescott

Fear, Anger, Sadness

Is this you?

My post on the 17 Things I Learned Moving From Southern California To Prescott, AZ ranks well in search engines, so I tend to get interesting emails from people thinking about making the move.

I was touched by this edited excerpt from an email I got recently that really expressed some of the feelings that I had before I became another Californian moving to Prescott, AZ.

I was born and raised here, and I don’t want to leave.

So of course I am upset. I am the last living person in my family and I am 99% sure I am leaving.

Makes me very sad. Like you .. TOTALLY comfortable here. What is not to be comfortable with?

This makes me sick to my stomach. I try to tell that to people, they look at me like I am nuts.

I did give some consideration to the fact that despite my brain not wanting to go, it is entirely possible that I just might like it. I am not normally one for liking major changes anymore, but it is possible I would have more of a life there than here, where it appears I have none.

Continue reading Born and Raised In LA – I Don’t Want To Move To Prescott

Food Trucks – What I Miss About LA

I love Prescott. I should have moved here years before I did.

But I do miss some things from living near Los Angeles.

Tito’s Tacos and Randy’s Donuts immediately come to mind.

Food Trucks

Another big thing that I miss is food trucks.

Yes, I’ve eaten off roach coaches for years and they were fine, but when the gourmet food truck trend hit a few years ago, I was enthralled.

Kogi Tacos started it all by offering Korean BBQ short rib tacos and burritos.

I mean, Korean tacos? What? They were amazing. Who knew that I would love kimchi on BBQ?

First Fridays

Continue reading Food Trucks – What I Miss About LA

Drones Over Prescott – Aerial Video For Real Estate

How It Started

This post might get me in legal trouble.

Ever since I first heard about drones a few years ago, I’ve wanted one.

The ability to fly into the air and see from there, to record what you see, to control the flight, and move above everything else is just, I mean, that’s like a primal urge…, isn’t it, to fly?

I guess I just want to be TinkerBell. Continue reading Drones Over Prescott – Aerial Video For Real Estate

The Prescott Real Estate Market – Stats for July, 2015

The Prescott Real Estate Market – July 2015

The Prescott Real Estate Market seems to have no slow down in sight. The stats seem to keep going up.

Prices are steady, not really going up much. they have leveled off in the last couple months. That could be because…

The number of listings is up, so people who have been thinking about selling are testing the water to see what they can get. That means more competition for buyers putting some pressure on the prices to keep them lower.

Look at the charts below and add your comments below.

The Prescott Real Estate Market - July 2015 charts

The Prescott Real Estate Market - July 2015 numbers

Summary Statistics

Jul-15 Jul-14 % Chg 2015 YTD 2014 YTD % Chg
Absorption Rate 6.53 7.11 -8.16 5.93 6.11 -2.95
Average List Price $502,393 $472,475 6.33 $430,536 $400,820 7.41
Median List Price $425,000 $389,000 9.25 $369,500 $339,900 8.71
Average Sale Price $364,066 $297,469 22.39 $331,134 $292,155 13.34
Median Sale Price $305,711 $280,250 9.09 $305,000 $266,500 14.45
Average CDOM 111 101 9.90 111 94 18.09
Median CDOM 41 43 -4.65 52 48 8.33

How Much Is My House Worth? – Setting A Price

I am constantly asked, by everyone I talk to about selling their house, what the asking price should be.

It’s an important question and a tough one to answer.

Let me explain to you what I tell them. Then you can decide what will work best for you.

Bottom Line

Your house, or anything else, for that matter, is worth exactly what someone else will pay you for it.

No more. No less.

The marketing effort behind trying to get someone to pay you a specific amount is another story. Maybe you can coerce someone, or manipulate them, but the bottom line is that they will pay what they will pay.

Asking Price

Now, your asking price is usually viewed as “a good place to start” when negotiating the selling price. Continue reading How Much Is My House Worth? – Setting A Price

Realtors see growing need to be tech savvy – The Prescott Daily Courier – Prescott, Arizona

I was shocked to see an article published in our local paper about REALTORs needing to be more tech savvy.

You can read it here: http://dcourier.com/

This ought to be good, I thought to myself.

It was.

Because I’ve been a web developer for over 21 years, my ideas about being “tech savvy” are probably a little different than what was presented in the article.

First, This Part Is Wrong

They interviewed someone from a company, who’s name I will not repeat here, that is trying to sell homes entirely on line.

Their goal is for people to buy a house on their phone.

That might work if houses were made with cookie cutters, on a conveyor belt, then dropped in a row in the middle of the desert, like they are in Phoenix.

It won’t work if people are educated and have taste.

As long as people want to see, and touch, and smell, and walk around a house, before they decide to spend their lives in it, technology will not be the final word in real estate.

Let the Internet do what it’s best at, managing and conveying information, and let the real estate agent do what they are best at, putting deals together in real life.

Will Technology Take Over?

Technology doesn’t take over. People with technology take over.

I heard Gary Vaynerchuk say that “technology” will not take over anything.

It’s people who hustle, using the best technology, that will take over lazy people using less technology.

TV will crush the radio. Railroads will crush the horse and wagon. Cars will crush the railroads. Drone videos will crush newspaper ads.

Let’s look at what that technology looks like in the world of real estate.

What Does Tech Savvy Mean?

Let’s start with a quote: Continue reading Realtors see growing need to be tech savvy – The Prescott Daily Courier – Prescott, Arizona