Sellers are getting stubborn!! We all know it’s a sellers market here in the Coachella Valley..well, almost everywhere to be more accurate. What’s changing in the real estate market? I’ve been a local realtor selling the Coachella Valley for 20 years now, and living here for much longer. I’ve been through cycles before, and we have been going through a peak price cycle for the past year. But in actuality, our valley has seen rising prices for the past several years, and sellers feel they are in the drivers seat! Pretty much true in all our desert cities, Palm Springs in the West to Coachella in the East.
It feels like the market is softening. Not crashing, just not as frantic as it was. What I see is that a premier property, meaning one that shows fantastic, has perfect sun orientation and great views will still command multiple showings and offerings. But..the properties that are not as cherry, those sellers are increasingly stubborn about the value of their property.
If you are a seller, lucky enough to be in a position to sell your property at the top of the market..such as now, be grateful! Trust your local agent and price it well, but listen to the buyers. Buyers set the market value..not sellers. Several times now, I’ve taken qualified buyers to properties and we are met with stiff requirements regarding writing offers. I’m seeing properties on busy streets with enormously over valued price tags on them. Sellers need to remember that if there are negatives to their properties, they need to reflect those in the list price.