Barry Noble's Blog

HOME SELLERS IN THE COACHELLA VALLEY MUST PAUSE AND TAKE STOCK OF THE CURRENT MARKET.

© 2007 Barry Noble, Palm Springs

To all current or potential Home Sellers in any of the Desert Resort Cities of Coachella Valley - including but not limited to Palm Springs, Rancho Mirage, Cathedral City, Palm Desert, Indian Wells, La Quinta, Indo, Coachella, Desert Hot Springs and Yucca Valley and other outlying areas:

Values in all but the highest value range should continue a notable decline. IT IS A NORMAL MARKET CYCLE -the 2006 inflated values are settling down and the Market should remain in a decline for at least the next 18 months. The Sub-Prime debacle is only making it more severe than a typical decline.

Gone are the "sold within a week of listing" sales and short Escrows.

Gone is this Cycle's "Seller's Market".

If you've been advised to wait until new Season to list your house at the OLD price you had it listed for sale in early 2007, assume that was "Bad Advice" and other bad advice often follows bad advice.

The Market Values are no longer stable or rising. It truly is a Buyer's Market - so you need to price that residence or income property to be competitive. Waiting will only result in yet an even lower value. You might consider sitting and holding the property - or rent it out - two good moves if you can wait until at least into 2009 for a stabilizing Market at its lower dip of the Market Cycle - or to late 2009 early 2010 for a potential rising Market again. The rise should be a good one, barring unforeseen other economic downturns or "the" earthquake, but it is for the patient Home owner or Seller.

If a Real Estate agent is willing to take on the listing of your home without clearly illustrating the true Current Market Values of the neighborhood - be wary. If your agent is ready to tell you the truth about values, even if you don't want to hear about value declines when you are ready to sell - hang on to that agent, He or She is doing you a big favor. Don't sit on the Market for months with a now unreasonable asking price - wasting your time as the home drops further in value. I can help you and your agent get ahead of the game.

If you are thinking of selling, don't have an agent yet and need advice - call me.

If you are having financial problems with an unwieldy sudden change in an adjustable mortgage rate - call me for a referral to someone who will give you some of the most honest advice you can ask for.

If you REALLY want or need to sell soon, and want to be TRULY competitive in the Current Market - with an ever growing list of homes for sale, call me or have your agent call me - I am here to help you - use me to round out your team of experts to put you ahead of the game. The Market is so volatile now, don't delay - USE me as soon as possible, to establish the most accurate Current Market Value Estimate - get advice on how your property compares with other properties in your value and quality range - and be well ahead of the game with a Key Listing Appraisal that not only estimates the Current Market Value and tells you what you need to know to help that listing, but also get a prediction of what values are doing over the next 6 months - so you can truly list that property ahead of the many (and growing list of) competing properties. You'll know just where it should be listed - and then it's up to you - Go all out for the sale, with your agent or broker - or sit back and be one of the many listings languishing on the MLS with little chance of a sale in the next 8 months because they are nowhere near their most accurate Current Market Values.

A listing Appraisal will help you with a professional Appraiser's opinion of the most accurate estimate of the property's Current Market Value to that date. You will also get a short consultant commentary on your property as it measures up to the competition and my insight into where the Market values appear to be going over the 6 months time you may be listed.

Barry Noble

760-992-9523 barry@PalmSpringsFinest.com

Barry Noble is a local Real estate Broker working out of Palm Springs, California. He's seen all the So California real estate cycles and studied other areas across the US and their relation to the overall Market. (Ask me about the real estate cycles) and has appraised locally for over 18 years. He's also a RE Broker who adds his Broker experience and knowledge to offer his best efforts in determining the most accurate estimate of Current Market Values for Listing, Purchase and Refinance loans, estate , Tax and other services.