Welcome back to the world of multiple offers.
Are you ready for them?
This month alone, I've been in six multiple offer situations - four on the buyer side, and two on the listing side.
Home in Ridgefield, Connecticut. Priced at $1,000,000. Two offers.
Major fixer property in Brookfield, Connecticut. Priced just under $200,000. Three offers and counting.
Condo in Brookfield, Connecticut. Priced under $250,000. Two offers.
Another condo in Brookfield, Connecticut. Also priced under $250,000. Two offers (that I'm aware of).
Yet another condo in Brookfield, Connecticut. Priced right at $250,000. Three offers.
Condo in Danbury, Connecticut. Priced just over $250,000. Two offers.
All this while other homes are languishing on the market.
What's the trick? Price your home right!
OK, OK, there is more to it then that:
Price your home right.
Make your home easily accessible by other agents.
Price your home right.
Keep your home in show condition.
Price your home right.
Some of these homes were on the market for about 2 months before the offers came in. But they came in all at the same time. Buyers are out there. They want to buy a home. But, the home must be...you know it: Priced right! And easy to show. And it must show well.
Of course, we cannot guarantee multiple offers on your home. But with a little bit of teamwork between the seller and the listing agent, we can make your home stand out from the rest.
Buyers are out there. Are they viewing your home?
Don Fabrizio-Garcia, REALTOR
Connecticut Real Estate & Appraisals
Keller Williams CT Realty
203.746.1199
Connecticut Real Estate and Homes for Sale
Don,
Congratulations....that is exciting news....business is picking up here as well but not so many multiple offers
Hi Lisa - That's part of the problem. The public doesn't believe it. That is, until they lose out on a multiple offer situation.
Debra - It's not happening with all homes. But we are now seeing more of them. Only on homes that are priced right. And, it may take 2 months before it happens. It is a bit odd that after a few months on the market, suddenly there are multiple offers on the same day.
Julie - It's exciting news, except for the cases where my buyers lost out! Is the market balancing out? I'm not so sure about that. But, homes priced for the current market are certainly selling.
Lisa - yes, condition is right up there in importance with price. It all matters.
Rob - hopefully those multiple showings will lead to multiple offers for your sellers!
Dear Don, i miss your smile........price your home right.......all of our short sales have at least 3 offers, some have 5 or 6...........even though the process is slow we are starting to see the light......the end is near for most.........yeah........how the heck are you? sounds like your busy.........that keeps you out of trouble.........as hard as that may be..........don't you miss the bay area? I know you miss me........
truly, terry o
Hey Terry - Of course I miss you! And I'm glad to hear someone misses my smile!
Yes, we're not all doom and gloom these days. Yes, we have a lot of short sales. Yes, we have foreclosures. Yes, we have homeowners in trouble. But we also have buyers. The buyers are slowly but surely starting to resurface.
Homes still aren't selling as quickly as they were in the past, but they are selling - if you price it right.
And, yes, I try to stay out of trouble...
Renee - Glad to hear the Vegas market is coming back. I love it over there.
Maureen - It all has to do with price. Buyers won't buy a home if it's overpriced. Agents probably won't show a home if it's overpriced. The problem is some sellers don't want to believe they have to price their home to sell in the current market - not based on what their neighbor sold their home for two years ago, not based on what new construction is selling for, and not based on what they "want" to get for their home. None of those factors matter.
Don Chris wrote that sellers in a development needed to reduce their prices in her local paper and a developer took out an ad to address it... ???
I can't keep up with the story... Chris has made waves.
Don, you're on the money ;-). My team listed a home earlier this month here in Richmond - great condition, well-maintained. Within a week we had 3 offers, one at above asking price. Our clients were pleasantly surprised to have choose which offer, since terms are just as important as offer price, to take. There are buyers out there - people still need to buy and sell real estate. Agents just need to be honest with their clients and sellers need to price their homes correctly at the beginning of a listing.
Phil - There are definitely fewer buyers out there than there were a year ago, but they are still out there. They're savvy buyers who will not overpay for a home.