Coachella Valley Buyers; careful with the lowball offers!
Coachella Valley Buyers; careful on the lowballs! I am the first to admit that the Coachella Valley real estate market is shifting from a sellers market to a buyers market. The prime properties are still sold quickly, if they are priced correctly. That’s the hitch. I’ve been doing this 25 years and feel quite confident that I can get an accurate list number for my sellers. In 2025, I have had to fight hard to not “chase the market.” Call Kim Kelly, local resident and agent at 760-285-3578.
In the past week, I received offers on two of my listings. One is brand new, in fact only one week on the market, and the other has been reduced several times over the past 90 days. Both offers were definitely low balls. What is considered a lowball? The agent presenting the offers should have advised their buyers better. On the new listing, the agent was from San Diego. She presented an offer that regardless of the amount, could not be justified, or even close to that, by recent comps from that community. To add insult to the offer, they asked for all the sellers furniture in that silly offer. I told the agent that she needed to educate herself about the community before she writes an offer like that on a new listing because now the seller is insulted. Try NOT to insult the sellers! Sellers will usually respond with a counter offer, even if the offer is low, but often they will not when you cannot back that offer up with recent sales.
The second offer was also low, much below list, BUT this is a stand alone property. What I mean by that is there ARE no comps for it. It’s very unique to the area, not in a gated community, and a bit of a white elephant. The sellers decided not to counter this one either, they felt they were just too far apart in the offer number and the amount of a reduction they were comfortable with. Odds are good that if these buyers come back, the sellers will not look kindly on them. Take the tour below of 42605 Byron Pl, Bermuda Dunes. $2,799,000.
