Where are the prices of Real Estate today in Palm Springs?
All the media and the local or nationwide economists are saying and repeating that the prices in Real Estate are now totally adjusted to the market. That means when sellers list their properties today and when they are shown the comparable by their listings agents, they understand they have to list at the adjusted price to today’s market.
Are the buyers reading the same information?
I wish they did. I keep on falling on buyers who for some reason want a DEAL and for whom a “deal” is cutting the listing price in half or something like that when they write an offer.
Prices are already “adjusted” when a property gets on the market.
The comparable show us that the average selling price compared to the listing price for Palm Springs and the area, (all properties included : condos, single family homes, country clubs, gated subdivisions) is between 92% and 97% of the asking price.
THE SELLERS GOT IT! Properties today are priced to sell
Writing offers at 15 or 20% under listing price is a waste of time, paper and energy. My dear buyers and future buyers please set your expectations in accordance with what the market bears in Palm Springs and the area.
Tags: Claudine Messika, Palm Springs Real Estate, Palm Springs real estate market update
