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brian
Premium
join:2002-05-02
Lake Forest, CA
reply to dennismurphy

Re: Mortgages

said by dennismurphy:

I was extremely lucky to have a multi-offer situation in 2011. A week after listing. Kind of unheard of these days, but it enabled us to buy our 'forever' home!

The problem is people are listing too high. The condo we just did short sale on sold for about 40% over list. We had about 20 offers in 4 days. However, if we had listed it at the final sale price, it would probably still be unsold.
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dennismurphy
Put me on hold? I'll put YOU on hold
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join:2002-11-19
Parsippany, NJ
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said by brian:

said by dennismurphy:

I was extremely lucky to have a multi-offer situation in 2011. A week after listing. Kind of unheard of these days, but it enabled us to buy our 'forever' home!

The problem is people are listing too high. The condo we just did short sale on sold for about 40% over list. We had about 20 offers in 4 days. However, if we had listed it at the final sale price, it would probably still be unsold.

Agreed 150%! We tried to list at a realistic price - enough to reflect some value of the upgrades we had done vs. the comps in the area, but not so much we priced ourselves out of market. It worked, apparently.

This is the value of a good real estate agent who knows your area well.