In all honesty, I haven't typically dealt with home above the 1 Million mark. It's a niche market and those homes in El Dorado Hills, serrano and granite bay Los Lagos are highly sought after. There are agent who live in those communities and have a pretty good lock down on the area. Recently I got a nice big listing up in Auburn CA. When I listed the house for sale in auburn, I thought we were listing it at a strong price per sqft. It's an 8200 sqft custom house. This thing has all 2x6 construction, 7 car garage, 2 laundry rooms, theater, wine room, views of folsom lake and downtown sacramento...
We went on at 1.6M. That was 4 months ago! We're now listed the house for sale in Auburn at 1.45M. We have had some interest and showing; however, it seems people only want to buy it if they're able to steal it. I'm talking prices where I would buy it before selling to them.
On another note: I was referred some high end buyer from one of my real estate investors in Roseville CA. After meeting with them and showing them 5-6 houses in Serrano and around El Dorado Hills, I've come to get more familiar with the high end market. It's a slow going! The economy is going, stock market is strong but people are hesitate to go out and buy that million dollar home.
I ran some searched on the computer to see how much has actually sold and in pending status and it was surprising to see that the amount of sales was way below what I had expected to find. There are some really good deals out there now in the high end market. Houses that you cannot build for the cost, yet my buyers are skeptical and hesitate to pull the trigger and buy a house in granite bay.
Even thou I'm know as the Roseville real estate agent, I'm ready to take on the houses for sale in Granite bay. This could all be timing. It's normal for things to slow down around the holidays.