32 offers or more in 3 days on a single property

[sdrealtor]

There is an REO property that recently came on the market in PQ for 419,000. It was a 3br/2ba 1750 sq ft 1 story home on what seems to be a nice sized lot overlooking open space. I didnt see it but heard the former owners did some damage on the way out. It seemed to be listed nearly 100,000 below the current market. I’m sure SD R saw this and probably submitted one of the offers. SD R what do you think this house is worth?

I have a client looking in the area but told them not to get involved as it would be a waste of time and would likely end up out of their range.

When I checked in to see how many offers they had, the agent told me 32 and counting on day 3. Anyone wondering if there is pent up demand or support at certain price levels need only look at a case like this to find the answer.

[SD Realtor]

heheheheh –

Yeah I did have a client who put an offer on this home as well. Those guys at Cal Prop Investments are a**holes. Half of the time they don’t answer the phone and when they do they are all haired out. They did not counter anyone and simply went with the highest and best. I would imagine the home will go for at least 475k and won’t be surprised if it touches 500k. They went pending Friday morning last I checked….

I have several clients who are getting quite frustrated at the situation where they find a good looking deal only to find it has many offers on it and the listing agent is simply collecting offers. Many, seriously, many many of the short sales listed at what looks like reasonable pricing are all sitting with offers at the lender under review.

The good news is that in the long run these will bring the comps down.

SD Realtor

[SD Realtor]

heheheheh –

Yeah I did have a client who put an offer on this home as well. Those guys at Cal Prop Investments are a**holes. Half of the time they don’t answer the phone and when they do they are all haired out. They did not counter anyone and simply went with the highest and best. I would imagine the home will go for at least 475k and won’t be surprised if it touches 500k. They went pending Friday morning last I checked….

I have several clients who are getting quite frustrated at the situation where they find a good looking deal only to find it has many offers on it and the listing agent is simply collecting offers. Many, seriously, many many of the short sales listed at what looks like reasonable pricing are all sitting with offers at the lender under review.

The good news is that in the long run these will bring the comps down.

SD Realtor

[SD Realtor]

heheheheh –

Yeah I did have a client who put an offer on this home as well. Those guys at Cal Prop Investments are a**holes. Half of the time they don’t answer the phone and when they do they are all haired out. They did not counter anyone and simply went with the highest and best. I would imagine the home will go for at least 475k and won’t be surprised if it touches 500k. They went pending Friday morning last I checked….

I have several clients who are getting quite frustrated at the situation where they find a good looking deal only to find it has many offers on it and the listing agent is simply collecting offers. Many, seriously, many many of the short sales listed at what looks like reasonable pricing are all sitting with offers at the lender under review.

The good news is that in the long run these will bring the comps down.

SD Realtor

[SD Realtor]

heheheheh –

Yeah I did have a client who put an offer on this home as well. Those guys at Cal Prop Investments are a**holes. Half of the time they don’t answer the phone and when they do they are all haired out. They did not counter anyone and simply went with the highest and best. I would imagine the home will go for at least 475k and won’t be surprised if it touches 500k. They went pending Friday morning last I checked….

I have several clients who are getting quite frustrated at the situation where they find a good looking deal only to find it has many offers on it and the listing agent is simply collecting offers. Many, seriously, many many of the short sales listed at what looks like reasonable pricing are all sitting with offers at the lender under review.

The good news is that in the long run these will bring the comps down.

SD Realtor

[SD Realtor]

heheheheh –

Yeah I did have a client who put an offer on this home as well. Those guys at Cal Prop Investments are a**holes. Half of the time they don’t answer the phone and when they do they are all haired out. They did not counter anyone and simply went with the highest and best. I would imagine the home will go for at least 475k and won’t be surprised if it touches 500k. They went pending Friday morning last I checked….

I have several clients who are getting quite frustrated at the situation where they find a good looking deal only to find it has many offers on it and the listing agent is simply collecting offers. Many, seriously, many many of the short sales listed at what looks like reasonable pricing are all sitting with offers at the lender under review.

The good news is that in the long run these will bring the comps down.

SD Realtor

[sdrealtor]

I figured you would be all over this one and not mentioning it as you would ahve someone in the mix for it. What do you think the house is worth in the current market? Perhaps a better question is, if you were listing the home what would you have recommned as a listing price? I’m trying to get an idea of how big a discount would generate such a response.

[sdrealtor]

I figured you would be all over this one and not mentioning it as you would ahve someone in the mix for it. What do you think the house is worth in the current market? Perhaps a better question is, if you were listing the home what would you have recommned as a listing price? I’m trying to get an idea of how big a discount would generate such a response.

[sdrealtor]

I figured you would be all over this one and not mentioning it as you would ahve someone in the mix for it. What do you think the house is worth in the current market? Perhaps a better question is, if you were listing the home what would you have recommned as a listing price? I’m trying to get an idea of how big a discount would generate such a response.

[sdrealtor]

I figured you would be all over this one and not mentioning it as you would ahve someone in the mix for it. What do you think the house is worth in the current market? Perhaps a better question is, if you were listing the home what would you have recommned as a listing price? I’m trying to get an idea of how big a discount would generate such a response.

[sdrealtor]

I figured you would be all over this one and not mentioning it as you would ahve someone in the mix for it. What do you think the house is worth in the current market? Perhaps a better question is, if you were listing the home what would you have recommned as a listing price? I’m trying to get an idea of how big a discount would generate such a response.

[an]

Wouldn’t this be the logical strategy to employ in this kind of market instead of just listing at a ridiculously high price and hoping someone will make an offer? Then chase the market down when no offer comes? If it goes for $500k, I’m pretty sure it wouldn’t get that kind of attention and amount of offers if it was listed @ $550k like 2 other ones a few blocks away. I guess the bank will lead this market down just like everyone predicted.

To all the realtors out there, here’s a question: If it does sell for under $500k, how likely will this affect the comp? Can you then take this sale to a listing nearby as comp and submit an offer around that range?

[an]

Wouldn’t this be the logical strategy to employ in this kind of market instead of just listing at a ridiculously high price and hoping someone will make an offer? Then chase the market down when no offer comes? If it goes for $500k, I’m pretty sure it wouldn’t get that kind of attention and amount of offers if it was listed @ $550k like 2 other ones a few blocks away. I guess the bank will lead this market down just like everyone predicted.

To all the realtors out there, here’s a question: If it does sell for under $500k, how likely will this affect the comp? Can you then take this sale to a listing nearby as comp and submit an offer around that range?

[an]

Wouldn’t this be the logical strategy to employ in this kind of market instead of just listing at a ridiculously high price and hoping someone will make an offer? Then chase the market down when no offer comes? If it goes for $500k, I’m pretty sure it wouldn’t get that kind of attention and amount of offers if it was listed @ $550k like 2 other ones a few blocks away. I guess the bank will lead this market down just like everyone predicted.

To all the realtors out there, here’s a question: If it does sell for under $500k, how likely will this affect the comp? Can you then take this sale to a listing nearby as comp and submit an offer around that range?

[an]

Wouldn’t this be the logical strategy to employ in this kind of market instead of just listing at a ridiculously high price and hoping someone will make an offer? Then chase the market down when no offer comes? If it goes for $500k, I’m pretty sure it wouldn’t get that kind of attention and amount of offers if it was listed @ $550k like 2 other ones a few blocks away. I guess the bank will lead this market down just like everyone predicted.

To all the realtors out there, here’s a question: If it does sell for under $500k, how likely will this affect the comp? Can you then take this sale to a listing nearby as comp and submit an offer around that range?

[Author]

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