Yesterday, while showing homes to several different people everywhere we went, their were other buyers in front of us or behind us. It comes as no surprise to Realtors however it was an eye opener for the prospective buyers we ran into yesterday. Even the new home subdivisions were very busy.
Late in the afternoon, I met up with customers who wanted to see a resale home being offered as a short sale.
What I found interesting is, the home had No Sign, No Lockbox, No Photos and it was Call Owner for Access Only Showing. I took my clients at four in the afternoon on Martin Lurther Kings Birthday since they had off. As we entered the home, we were greeted by the homeowners son, and he said, please take a look. As we headed to the kitchen the doorbell rang. Another couple with a Realtor was right behind us. As we were retreating from the upper level, in walks another couple with their Realtor with another set of hopeful purchasers right behind her.
Moral of the story:
Never assume that just because a house has no photos online that no one will look at it. This home was priced significantly under market based on recent comparable sales. This happens because the Listing Agent is trying to find the best price for his seller. The higher the price gets bid up, the less the loss for the seller. It is a strategy. Remember the homeowner only needs one offer to go to the bank to begin the short sale process. The bank will do an appraisal and may return a counter to what the seller and buyer agreed to. That is why a purchaser considering buying a short sale home, must be flexible on price and terms. It's not yours and you cannot proceed to settlement until the sellers lender agrees to give the seller a short sale approval letter.
Tip From Peg-If you are looking for a home in the Woodbridge, Lake Ridge, Dumfries Virginia area close to I-95 for commuting to Washington DC, The Pentagon,Fort Belvior and Quantico then you need to be prepared.
- Get pre-approved for a home loan start here
- Plan your house hunt early- Call to get on the schedule 703-590-2252
- Search MLS and Save Your Search to get updates daily on "what's happening and new listings" Start Here
- Have a list of what you will compromise on and what you won't
- Be prepared for multiple offer situations-I'm not kidding...it's happening again.
- Remember if you are looking at a short sale chances are good most will be sold in "as is condition" and it could take several months for a short sale to be approved. If you are flexible buyer, a short sale is a good option.
Have a real estate question? Need help finding or selling a home?
Feel free to contact me by email or call 703-851-3085
Contact Peggy James or Erick Blackwelder of Erick and Company of Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-851-3085 (Peggy) or 703-590-2252 (Office).If you are a homeowner who has a home to sell, we have buyers ready and waiting for nice homes to come on the market. Give us a call and we can "GET YOUR HOME SOLD FAST" to list your property for sale we service Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Manassas Park, Haymarket,Montclair, Dumfries, Quantico, Fort Belvior, Occoquan, Dale City, Gainesville, Aquia Harbor, Garrisonville and Triangle area's .
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