New Listing - Crescendo Plan 1 home @ Cadence Park (116 Crossover)

USCTrojanCPA said:
Wow, this listing is very popular...we have over 20 agent appoints schedule Wednesday through Friday.  I'm guessing the open house will be very busy too.
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Told you I thought it was AFFORDABLE! My predicted final price is $3.2M. Only question is will it close this year? I know you can?t give pricing until closing so I?ll just have to wait and see. Are you serving caviar, filet mignon and Dom Perignon at the open house? I?ll show up for that!
 
DrTravel said:
USCTrojanCPA said:
Wow, this listing is very popular...we have over 20 agent appoints schedule Wednesday through Friday.  I'm guessing the open house will be very busy too.
Click to expand...

Told you I thought it was AFFORDABLE! My predicted final price is $3.2M. Only question is will it close this year? I know you can?t give pricing until closing so I?ll just have to wait and see. Are you serving caviar, filet mignon and Dom Perignon at the open house? I?ll show up for that!
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I might not be able to afford that kind of high-end affair given how many people may come to the open houses.  haha
 
Thank you for sharing this listing Martin! I?m so grateful to have done the full interior design work on this property. It?s filled with unique custom features using high quality materials. It?s great to see the house continue to show so beautifully! 😄
 
kbinteriordesign said:
Thank you for sharing this listing Martin! I?m so grateful to have done the full interior design work on this property. It?s filled with unique custom features using high quality materials. It?s great to see the house continue to show so beautifully! 😄
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Haha I thought based on your username that you were with KB Homes builder interior designer. I was thinking there is no way this was builder work.
 
We now have a total of 7 offers and most of the offers are $3m+.  My guess is that we?ll have 12-15 offers by tomorrow night (offer deadline).
 
USCTrojanCPA said:
We now have a total of 7 offers and most of the offers are $3m+.  My guess is that we?ll have 12-15 offers by tomorrow night (offer deadline).
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My prediction of $3.2M was my best guess. That?s what I would have offered - IF I had the money :(  But I wouldn?t be confident my bid would be the winner.
 
So the dust settled at 16 offers and I'm working on the best & final counters now.  The seller also instructed me to change the listing price to $3,300,000.
 
USCTrojanCPA said:
So the dust settled at 16 offers and I'm working on the best & final counters now.  The seller also instructed me to change the listing price to $3,300,000.
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Greedy seller. I would hate to deal with this kind of seller if i were one of the buyers.

Dont mean to disrespect you.  You just do what your client asks.  I respect that.
 
Danimal said:
USCTrojanCPA said:
So the dust settled at 16 offers and I'm working on the best & final counters now.  The seller also instructed me to change the listing price to $3,300,000.
Click to expand...

Greedy seller. I would hate to deal with this kind of seller if i were one of the buyers.

Dont mean to disrespect you.  You just do what your client asks.  I respect that.
Click to expand...

Yeah, I just follow what I'm told but 14 of the 16 offers are over $3m so there's a reason why he wanted me to adjust the price higher.  This is the best home in all of Great Park (not including Altair) because no other home has $1m in upgrades and it's one of the largest lots in all of Great Park.
 
Why is greed if you have buyers willing pay that price? if you are the seller and somebody makes a crazy offer to you (in this case much more than 1), will you accept a lower offer from someone else out of principle?

Danimal said:
USCTrojanCPA said:
So the dust settled at 16 offers and I'm working on the best & final counters now.  The seller also instructed me to change the listing price to $3,300,000.
Click to expand...

Greedy seller. I would hate to deal with this kind of seller if i were one of the buyers.

Dont mean to disrespect you.  You just do what your client asks.  I respect that.
Click to expand...
 
I'm not some kind of super smartie and I don't possess some magic crystal ball but when the house was listed, I knew it was going for at least half a million more.

Martin tends to price things low so if the buyer says to raise the listing half a million, that tells would be hopeful people, thinking they can get it for a little over asking don't waste your time.

There are only so many homes with larger lots in that condition that are on the new side and plenty of people who want it.

If they overpay, then they'll be sorry later or maybe they don't care.

 
Overpay is a relative term. If a buyer is in it for the 2-year buy to sell MAX ROI!!! then any price could be an overpay. If the buyer wants a highly upgraded property with a big lot and private pool located within a quality school district, is it overpaying?  I'd say it isn't.
 
Your ?that price? is $500k over original list price.  Seller has his right to raise the price like that. Is it ethical? I think not.  What do you think how the earlier bidders feel? This guy is playing with them. What?s next? He is going to raise another $500k?

One thing i can tell you is that I would not ask my listing agent raising the LP when I sell my place.

I would immediately withdraw my offer if i was one of these bidders

The California Court Company said:
Why is greed if you have buyers willing pay that price? if you are the seller and somebody makes a crazy offer to you (in this case much more than 1), will you accept a lower offer from someone else out of principle?

Danimal said:
USCTrojanCPA said:
So the dust settled at 16 offers and I'm working on the best & final counters now.  The seller also instructed me to change the listing price to $3,300,000.
Click to expand...

Greedy seller. I would hate to deal with this kind of seller if i were one of the buyers.

Dont mean to disrespect you.  You just do what your client asks.  I respect that.
Click to expand...
Click to expand...
 
Soylent Green Is People said:
Overpay is a relative term. If a buyer is in it for the 2-year buy to sell MAX ROI!!! then any price could be an overpay. If the buyer wants a highly upgraded property with a big lot and private pool located within a quality school district, is it overpaying?  I'd say it isn't.
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^^^This, it makes complete sense what you say here. I would think that a seller and buyer know what kinda market they are interested. For buyer to spring this amount of cash, they know what they are getting. What they also know is that they will not be in a position of having to sell when price is not what they want, force selling. That's the difference with distress selling and just sell when the price hit the level that they want.

The edge here is, will commodities comes down in price next year? Will there be more readily homes to buy? Is the inventory all a sudden surge to even out and favor the buyers? All of this point to NO and people today have a solid sense where they want to be for the long term. The FED talk about inflation suppression, but it took them 40 years to get here, do you think they will kill it as soon as they get what they wanted. Its all talk. and thats all the FED does is talk. Even if they do taper, it will be a symbollic minimal move that will quickly about-face when the system crash. And the inflation will still stay high. They are stuck. And what will happpen to package commodities, in this case a house, its package becuz a house is a collection of raw materials, copper, lumbers, concrete, etc....oh yeah, taxes. That why they want commodities and goods to stay high and collect the taxes.

This listing have 16 people line up for it. So, no, its not over price. It listed low for today market. The thing is when you have excess cash, the best thing for today market is hold tangible assets.
 
I feel like those priced out will remove or ignore the property all together afterwards, what are they going to do if they can't afford it, and if they can and want to drop out so be it.  Re-listing at a higher price gives a ballpark figure of where the highest offer is and therefore those buyers who really want the property and have the means knows where to go on the counters.  If not it goes at list of 3.3mm. 

Danimal said:
Your ?that price? is $500k over original list price.  Seller has his right to raise the price like that. Is it ethical? I think not.  What do you think how the earlier bidders feel? This guy is playing with them. What?s next? He is going to raise another $500k?

One thing i can tell you is that I would not ask my listing agent raising the LP when I sell my place.

I would immediately withdraw my offer if i was one of these bidders

The California Court Company said:
Why is greed if you have buyers willing pay that price? if you are the seller and somebody makes a crazy offer to you (in this case much more than 1), will you accept a lower offer from someone else out of principle?

Danimal said:
USCTrojanCPA said:
So the dust settled at 16 offers and I'm working on the best & final counters now.  The seller also instructed me to change the listing price to $3,300,000.
Click to expand...

Greedy seller. I would hate to deal with this kind of seller if i were one of the buyers.

Dont mean to disrespect you.  You just do what your client asks.  I respect that.
Click to expand...
Click to expand...
Click to expand...
 
Danimal said:
Your ?that price? is $500k over original list price.  Seller has his right to raise the price like that. Is it ethical? I think not.  What do you think how the earlier bidders feel? This guy is playing with them. What?s next? He is going to raise another $500k?

One thing i can tell you is that I would not ask my listing agent raising the LP when I sell my place.

I would immediately withdraw my offer if i was one of these bidders
Click to expand...
Does it matter what the earlier bidders feel since they're probably bidding near the original listing price? I mean, if they don't even need to withdraw their offers because they're already priced out and won't even get a counter offer.

The reason for raising the listing price is to be closer to the higher bids.
 
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