36 Offers! Are you joking??
Actually, I am not.
While the media is slowly coming around to acknowledge that the doom and gloom scenarios they like to tout did not come true, me and my colleagues are working hard helping our clients achieve their dream of home ownership.?
Especially in the $1.5-2m range, the competition for good houses is fierce! A lack of inventory combined with pent-up demand from the buyer pool brings us into a situation that reminds me strongly of the spring of ’21.
A well-priced home in a good location with a great floorplan and nice views will draw considerable attention from the market.?
Case in point, my buyers who had become friends fell in love with a beautiful Mid Century home in Mt Washington. Looking at the market statistics, we knew the house was priced too low for what it was, so we expected competition.?
What we din’t foresee was that the home drew 36(!) offers.?
It was an emotional roller coaster during the negotiations, but I am happy to report that we won out against all of them. Even in light of a number of all-cash offers, my buyers, who have a loan, still cinched the deal!
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The reasons they were the successful are a few. They were prepared, knew the market and knew that his house represents a solid investment for the future because of it’s quality and condition. Our loan officer and home inspectors were fast, allowing them to run a very strong strategy in their offer. My good relationship with the Listing Agent translated into a sympathetic Seller.?
My clients are super happy - they are closing on their new home in one week!?
And I couldn’t be more happier for them if I tried!?
However, this also means there are 35 people in that relatively small geographical area who were disappointed and went out the next week to try finding their home.?
The market is, again, a very strong one, homes that are priced correctly draw lots of attention. It looks like a busy spring season is upon us.
Please reach out if you’d like me to help you make your dream of homeownership a reality!?