house. When I got there I was confronted by a new sign:

SOLD!!

Was I shocked? Not really. I know this neighborhood. It probably went for at least 100% of ask, too. Sales are currently averaging 103.12% of asking price in the city as a whole.

It almost does not matter what the house is, if it’s in an area where people want to live, someone will buy it — and swoop in quickly to do it.

So, again I am reminded not to judge a book b

Ok, the next time anyone has the nerve to tell me real estate is dead, I’m going to laugh in their face!

It’s still a hot market here in suburban Northern CA, absolutely, without question. Some things never change.

While walking through my neighborhood, no more than two weeks ago, I spotted a new “FOR SALE” sign in a front yard. This is a street where things sell like greased lightnin’, which I can’t understand for the life of me. It’s a busy street. A narrow street. A street with a few nicely manicured yards, which is kind of pointless ’cause who spends any time in them? It’s not the kind of street where you could let the kids run loose, playing catch — cars zoom by, narrowly missing the sidewalk. The houses are nothing special. Small square footage, funky floor plans, no space to entertain, very small yards, plenty of deferred maintenance, and drive-by noise. Still, it’s within walking distance to the elementary school and park, and a few minutes’ distance to businesses. And the weather is as close to perfect as any weather could be.

A few years ago I went to an “open house” on that street (about five houses from the one I was just talking about) and was sure it would have a tough time selling. It had an awkward layout, was small, and there was a cut-out hole in between two of the bedrooms (big enough to climb through, I guess, but not like you could add a door — it was very strange).

Well, that one open house was all it took. It sold within three days of being listed, for above the asking price. That’s how it was back then.

So….back to the first house I referred to.

Within the last week, we received a postcard in the mail from the listing agent, to advertise the upcoming open house this weekend. I planned to go. This afternoon, I proceeded to walk to the open house. When I got there I was confronted by a new sign:

SOLD!!

Was I shocked? Not really. I know this neighborhood. It probably went for at least 100% of ask, too. Sales are currently averaging 103.12% of asking price in the city as a whole.

It almost does not matter what the house is, if it’s in an area where people want to live, someone will buy it — and swoop in quickly to do it.

So, again I am reminded not to judge a book by

y street. A narrow street. A street with a few nicely manicured yards, which is kind of pointless ’cause who spends any time in them? It’s not the kind of street where you could let the kids run loose, playing catch — cars zoom by, narrowly missing the sidewalk. The houses are nothing special. Small square footage, funky floor plans, no space to entertain, very small yards, plenty of deferred maintenance, and drive-by noise. Still, it’s within walking distance to the elementary school and park, and a few minutes’ distance to businesses. And the weather is as close to perfect as any weather could be.

A few years ago I went to an “open house” on that street (about five houses from the one I was just talking about) and was sure it would have a tough time selling. It had an awkward layout, was small, and there was a cut-out hole in between two of the bedrooms (big enough to climb through, I guess, but not like you could add a door — it was very strange).

Well, that one open house was all it took. It sold within three days of being listed, for above the asking price. That’s how it was back then.

So….back to the first house I referred to.

Within the last week, we received a postcard in the mail from the listing agent, to advertise the upcoming open house this weekend. I planned to go. This afternoon, I proceeded to walk to the open house. When I got there I was confronted by a new sign:

SOLD!!

Was I shocked? Not really. I know this neighborhood. It probably went for at least 100% of ask, too. Sales are currently averaging 103.12% of asking price in the city as a whole.

It almost does not matter what the house is, if it’s in an area where people want to live, someone will buy it — and swoop in quickly to do it.

So, again I am reminded not to judge a book b

istance to the elementary school and park, and a few minutes’ distance to businesses. And the weather is as close to perfect as any weather could be.

A few years ago I went to an “open house” on that street (about five houses from the one I was just talking about) and was sure it would have a tough time selling. It had an awkward layout, was small, and there was a cut-out hole in between two of the bedrooms (big enough to climb through, I guess, but not like you could add a door — it was very strange).

Well, that one open house was all it took. It sold within three days of being listed, for above the asking price. That’s how it was back then.

So….back to the first house I referred to.

Within the last week, we received a postcard in the mail from the listing agent, to advertise the upcoming open house this weekend. I planned to go. This afternoon, I proceeded to walk to the open house. When I got there I was confronted by a new sign:

SOLD!!

Was I shocked? Not really. I know this neighborhood. It probably went for at least 100% of ask, too. Sales are currently averaging 103.12% of asking price in the city as a whole.

It almost does not matter what the house is, if it’s in an area where people want to live, someone will buy it — and swoop in quickly to do it.

So, again I am reminded not to judge a book b

t not like you could add a door — it was very strange).

Well, that one open house was all it took. It sold within three days of being listed, for above the asking price. That’s how it was back then.

So….back to the first house I referred to.

Within the last week, we received a postcard in the mail from the listing agent, to advertise the upcoming open house this weekend. I planned to go. This afternoon, I proceeded to walk to the open house. When I got there I was confronted by a new sign:

SOLD!!

Was I shocked? Not really. I know this neighborhood. It probably went for at least 100% of ask, too. Sales are currently averaging 103.12% of asking price in the city as a whole.

It almost does not matter what the house is, if it’s in an area where people want to live, someone will buy it — and swoop in quickly to do it.

So, again I am reminded not to judge a book b

house. When I got there I was confronted by a new sign:

SOLD!!

Was I shocked? Not really. I know this neighborhood. It probably went for at least 100% of ask, too. Sales are currently averaging 103.12% of asking price in the city as a whole.

It almost does not matter what the house is, if it’s in an area where people want to live, someone will buy it — and swoop in quickly to do it.

So, again I am reminded not to judge a book by its cover. When an area is in high demand, whatever’s between the walls often doesn’t matter. You’d think the Beatles had landed in America every time a new listing comes up — it’s like the event of the century. It doesn’t happen often enough, in proportion to the number of people dying to own homes here. Right now there are only 18 listings of single family homes with 3 or 4 bedrooms, in my zip code. This puts sellers in a powerful position.

Sure gives me something to smirk about the next time I hear "the market" bemoaned!

Update: the above-mentioned house sold for 10% over list price with multiple offers in less than one week. And this is in Spring 2007 when "the real estate market has crashed."