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Perspective is in order, too. The common reaction of agents and sellers is the “silo effect,” which is a narrow view of the market in which they operate. It’s easy to be short-sighted when your living depends on selling homes or when you need to sell your house to take a new job out of town, but patience and that perspective are important.
For example, down the coast in La Jolla, where the median asking price in May for a home was $1,600,000, sales are up 22% over a year ago, according to San Diego-based DataQuick. A bit inland in Rancho Santa Fe, more Laguna Niguel than Beverly Hills, prices averaged $2,244,000 and sales were up 44.8%.
Back on Earth, where more moderate pricing can be found, home prices in Norco averaged $357,000 and sales were up 20%. In Escondido ZIP code 92029, prices averaged $548,000 and sales were up 24.1%.
So, all is not lost. There are buyers out there and it’s just a matter of being smarter about attracting them. If you’re selling or representing, you may want to start by contacting Aniston. She just sold her house and is probably looking.
STEVE SMITH is a Costa Mesa resident and a freelance writer. Send story ideas to smi161@aol.com.