May 27 2008

Multiple bid situations

Published by Carolyn Thompson at 8:04 pm under Homes For Sale

Yes, there are homes for sale and there is news of increased foreclosures.  There are also several neighborhoods with multiple bids on the properties.  Bethesda Mayland; Arlington Virginia; Washington DC  all multiple bids.

 As a Realtor representing buyers it is driving me crazy.  When I was younger, my clients would drag me to a million homes and keep writing offers.

Now, home buyers don’t expect this type of climate and it is all my fault.  I bring them to homes where I can stretch their money only to find other buyers doing the same. 

Price a home correctly, market the property and garner your share of offers.

Price a home high and get stuck trying to sell your home, while your spouce is moving on. 

Life happens and it does not wait for the house to get sold, rented or otherwise disposed of.

 A client recently asked me what the hardest part of my job is.  It is doing a ton of research to make sure that we are putting the right offer on a home and getting out bid.  Of course, we may start bidding a bit higher, but the psychology of the buyer is that there are deals to be had, why would they bid above the asking price.

 My sellers want to know why they aren’t getting more for their homes.  I could put a lot of fluff into this blog, but the reality is that there is a down maket.  Some neighborhoods are less desireable.

 There appears to be a huge shift to desireable neighborhoods by those who could afford it.  Thus, there are multiple bids on real estate in choice neighborhoods.

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