Riverside Realtor Blog - Alma Dizon

Alma shares her experiences and observations as a Realtor in Riverside California.

Wednesday, March 15, 2006

still possible to get multiple offers

These last few days I've been handling a multiple offer situation on a house, which just goes to show that the seller's market isn't necessarily over. The most important factor was that the sellers of this particular house priced it well. After looking at the data, they priced it according to the pending and closed sales around them, and so they ended up being the lowest priced available in the neighborhood. There are some pending and closed sales that are higher, so they had me tell buyers who needed closing costs to stack them because the house will still appraise. Consequently, they got 5 offers very quickly and were able to choose the strongest buyer while dictating all the terms of the agreement. The house itself is a modest starter home that needs some work beyond the repairs that the sellers were able to handle. However, its reasonable pricing made buyers look beyond its imperfect condition.

In the end, a seller's market isn't just about sellers, it's about figuring out what buyers are willing to do and not outpacing them. The buyer's willingness (and capacity) to pay decides selling prices.

1 Comments:

Post a Comment

Links to this post:

Create a Link

<< Home