Clayton Living & Real Estate

We’ve hit the “100 properties on the market” in Clayton which is an all time high. Many of my colleague Realtors have convinced their sellers to continue dropping the price, in some cases as much as $200,000. This is a great diservice to the sellers (and the area), since it is a lack of buyers that is affecting their ability to sell, not high pricing. Even with huge price reductions on desireable properties, many are still not selling. Although I generally focus on listing properties, this market has made me redirect my energy towards finding buyers incredible deals. If you are considering buying in Clayton, you have a few more months to get the “deal of the decade” if you choose well and negotiate hard (email me for more info). It’s getting so attractive for buyers that I may become one in a few months just to make a few bucks in the upcoming couple years.

How do you sell homes when you’ve done open houses every weekend, staged the property, advertised in every paper, marketed locally, placed it on agent caravan tour and done tons of internet advertising? There’s only one thing left to do…drop the price. Here’s a Clayton townhome on Condor Way that was listed at $595,000, a fair price when it came on the market 4 months ago. Today, with 83 properties on the market in Clayton (an all time high), it’s time to adjust pricing if you want to sell. As of this morning the sellers of this unit have agreed to drop the price to $560,000, a $35,000 price drop, which makes this unit one of the best deals in town. We’ll see if this is enough to generate offers from all those eager buyers that have been trying to get into Clayton for under $600,000.

As of this week, we have 60 homes on the market in Clayton. That’s a record high. I remember a year and a half ago when there were less than 10 homes on the market for months on end. Today, 17 of those 60 homes are priced above one million dollars, with the average home price being $928,468. What does it mean? For starters, Clayton’s Oakhurst neighborhood no longer is an economical choice for buyers in the area. But in addition, it means many of these homes will be sitting on the market for months. If you’re thinking about selling your home in this market, it’s important to price yourself competitively, show your house well, and get a lot of exposure. You’re in a good spot if you are selling a single story, since they are rare. If you have a swimming pool on top of that, you’ll do well. For the remaining 59 homes on the market, it may be a competitive month.

I received a call from the City of Clayton last week regarding the yard signs placed on Keller Ridge Drive. What’s happening is realtors are placing yard signs at the street entrances to Condor Place and Coyote Circle, as well as a sign in the yard of the listing. Since there are seven townhomes for sale in this area, it has created an unsightly view on both sides of the street as you drive up Keller Ridge. It also looks like half the neighborhood is up for sale if you do not understand where the signs lead. “One sign per listing” is what the nice lady at the city offices explained to me.

Although the signs are great for attracting prospective buyers to the townhomes, I agree that several of these signs piled up in one area is unsightly. I applaud the city for taking the initiative to contact all realtors with signs in that area and asking them (of course in the pleasant Clayton mannner) to remove them. If all realtors abide by the same rules, we can still generate sales without adversely affecting the look of the neighborhood or disrespecting the environment.

When buyers visit properties, sellers and agents often forget an important detail: highlighting the features of their home. Yes, the flyer and the MLS print out has these details, but do you think they are constantly referring to the fine print on the flyer during their visit? Probably not, they are going for the emotional response. You can highlight details by arranging furniture and adjusting lighting, but a system that works really well, is to create frames that spell it out. There’s no guess work and if the frame is well chosen, along with an appropriate brief message, it can even contribute to the look of the home. Keep the experience pleasant and unobstrusive, but make sure they remember that your home had the granite counters!